Good morning, Quartz readers!
What to watch for today
The US tests an ICBM. The unarmed test of a Minuteman 3 from California comes amid tensions with North Korea, which tested its own intercontinental missile last week that is probably capable of reaching the United States.
ASEAN’s meeting of foreign ministers kicks off in the Philippines. The Association of Southeast Asian Nations is celebrating the regional bloc’s 50th anniversary with a week of meetings in Manila. Some 13,000 police were deployed ahead of president Rodrigo Duterte’s keynote; US secretary of state Rex Tillerson will also attend.
The Reserve Bank of India eases up. With inflation at a record low, bond markets expect the central bank to cut short-term rates by 25 basis points (0.25%). Investors will be watching to see if the RBI signals an appetite for further cuts.
While you were sleeping
Apple’s third-quarter results trounced expectations. The world’s most valuable publicly traded company posted a net income of $8.72 billion and revenue of $45.4 billion. Crucially, the company dispelled rumors of a delayed iPhone launch with its revenue projections for this quarter, sending shares up 4% in after-hours trading.
Sprint’s CEO hinted at a merger. The US’s fourth largest wireless carrier, majority owned by Japan’s SoftBank, said a deal with cable giant Charter Communications or rival carrier T-Mobile will be coming “in the near future.” Shares climbed more than 10% on the news.
Venezuela jailed two prominent opposition leaders. Leopoldo López and Antonio Ledezma, outspoken critics of president Nicolás Maduro, were arrested in a midnight raid, shortly after the US hit Maduro with sanctions for his dictatorial behavior.
Didi challenged Uber in Europe. The Chinese ride-sharing giant inked an investment deal with Estonia’s Taxify, giving the company a beachhead on the continent. That could spell the end of Didi’s brief truce with the increasingly overstretched Uber, which sold off its money-losing Chinese operations last year.
Snap was barred from the S&P 500. The widely used stock index announced a ban on companies with dual classes of stock, citing concerns that they “treat different shareholder classes unequally.” The move won’t apply to existing dual-class firms like Alphabet and Berkshire Hathaway.
Quartz obsession interlude
Ali Griswold on why Uber should give up on world domination. “Uber could exhaust its remaining $7.2 billion in cash on hand in just over 10 quarters, or two and a half years. It’s time for Uber to swallow its pride and face a hard truth: Instead of attempting to conquer the world, it should be cutting deals with competitors and making a graceful retreat in markets too tough to dominate.” Read more here.
Matters of debate
Privacy settings are a feminist issue. Forcing users to “opt out” of compromising app settings lets tech companies off the hook.
Fears about AI are largely misinformed. Facebook didn’t kill its language-creating AI because it was too smart; quite the opposite.
The Tesla Model E isn’t truly progress. It belongs in the category of “defense innovations” designed to maintain the status quo.
Surprising discoveries
A dozen inmates broke out of an Alabama jail using peanut butter. They hoodwinked a rookie guard into believing that an exit was actually a prisoner’s cell.
A Mesopotamian fidget spinner is actually a weapon. The artifact from the Isin-Larsa Period was initially classified as a toy made of baked clay.
Jellyfish could be the best crunchy snack ever. Danish scientists have a new technique to transform their gooey insides into a chip.
American bee sperm has lost its buzz. Since the US closed its borders to live honeybee imports, inbreeding has ravaged the gene pool.
The US is turning a Russian airline’s planes into the next Air Force One. Two 747s owned by the bankrupt Transaero are currently parked in the Mojave desert.
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