Good morning, Quartz readers!
What to watch for today and over the weekend
Hurricane Ophelia heads for Europe. It formed in an unusual place, is headed in an unusual direction, and has unusual strength for an Atlantic hurricane so far east this late in the year. The ocean’s 10th consecutive named storm to reach hurricane intensity is projected to skim past the Azores, Portugal, and Spain before hitting Ireland and the UK early next week.
Hollywood holds emergency talks on Harvey Weinstein. Following numerous allegations of the film mogul’s sexual misconduct, the Academy of Motion Picture Arts and Sciences will meet Saturday to discuss the allegations. The British Academy of Film and Television Arts has already suspended Weinstein’s membership.
Donald Trump announces his decision on the Iran deal. The US president, a longtime critic of the Obama administration’s accord with Iran, will deliver a speech today ahead of the Oct. 15 recertification deadline. Should he decertify Iran’s compliance, Congress would decide whether to enact new sanctions.
While you were sleeping
Trump moved to undermine Obamacare. The White House confirmed late Thursday that the US president plans to cut off subsidy payments to insurers selling Obamacare coverage. That followed Trump signing an executive order yesterday calling for new regulations to encourage cheap, loosely regulated health plans. Some insurers are likely to sue to the administration.
China reported strong trade figures for September. Imports were up 18.7% from a year ago in dollar terms, while exports increased 8.1%. The imports were a surprise, with analysts expecting a jump of only 13.5%. Meanwhile imports from North Korea fell 37.9% from a year ago, and exports to the troublesome neighbor fell by 6.7%.
South Korea and China signed a $56 billion currency-swap deal. The arrangement between the nations’ central banks suggests diplomatic tensions over security issues—especially US anti-missile systems deployed in South Korea—are receding. Had it not been extended, the deal would have expired early next week.
The CEO of Samsung Electronics abruptly resigned. Kwon Oh-hyun, one of three co-chief executives, cited an ”unprecedented crisis” for his decision, on the same day the firm forecast record quarterly profits. Kwon said the company’s current strong growth is the result of past decisions, whereas future trends look troubling for the company.
Quartz obsession interlude
Akshat Rathi on the world’s first “negative emissions” plant, which turns carbon dioxide into stone. “Although it’s still at pilot scale—capturing only 50 metric tons CO2 from the air each year, about the same emitted by a single US household—it’s the first system to take CO2 in the air and convert the emissions into stone, thus ensuring they don’t escape back into the atmosphere for the next millions of years.” Read more here.
Markets haiku
Thank the central bank / for stocks reaching all-time highs / Who will run it next?
Matters of debate
Suburban offices are hip again. As millennials move out of city centers, companies are following the talent.
Xi Jinping has more clout than Donald Trump. China’s charismatic leader is steadily consolidating his power as the US loses its grip.
Kids need to be taught better social skills. New research suggests such skills are more important than good test scores.
Surprising discoveries
Some Vikings had the word “Allah” stitched into their clothes. The unexpected link is giving archaeologists a new perspective on the global reach of Islam.
Dating apps are reshaping society. Researchers see a big uptick in interracial and same-sex partners who find each other online.
Swedish “death cleaning” is the latest lifestyle trend. Dostadning helps you ditch the junk that will one day be a burden to your heirs.
Something punched a hole through a South Pole ice sheet. Scientists can’t figure out why a chasm the size of Maine suddenly reopened after closing itself up 40 years ago.
Borrowers in China will be publicly shamed for missing payments. “The person you are calling has been put on a blacklist by the courts for failing to repay their debts. Please urge this person to honor their legal obligations.”
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