Good morning, Quartz readers!
What to watch for today
Germany’s new president visits Vladimir Putin. Though his role is ceremonial, Frank-Walter Steinmeier, who has often criticized the West for goading Russia, is liked by Putin. His visit will be watched for signs of a thaw in the countries’ frosty relationship. Putin will hope Steinmeier can persuade Germany, and by extension the EU, to drop economic sanctions.
Nike holds an investor day at its Oregon headquarters. The company is struggling with stagnant sales and renewed competition from Adidas, and its stock has fallen 17% in the last two years as Nike has largely missed the “athleisure” trend. CEO Mark Parker will probably have to temper his projection of $50 billion in sales by 2020.
Equifax reports its quarterly earnings. The credit-reporting agency revealed last month that hackers had accessed the personal data of over 145 million US customers. That led to its shares plummeting, but some analysts see a “buy,” believing the company can handle any lawsuit settlements and won’t lose corporate clients. Investors await Equifax’s comments on the breach’s impact.
While you were sleeping
China’s president announced the members of Politburo Standing Committee. Xi Jinping named the seven members of the nation’s most powerful decision-making body. Significantly, none are young enough to be his possible successor. Yesterday Xi achieved Mao-like powers when the ruling party approved an amendment to include his name and doctrine into its constitution.
The US Senate overturned an Obama-era rule designed to help consumers stand up to big banks. It voted 51-50 to nix a rule, slated to go into effect next year, making it easier for consumers to sue banks in groups (paywall). At issue is the fine-print requirements for arbitration—which banks prefer over class-action lawsuits—that US banks often include in their contracts with consumers.
LG Display reported a stellar third quarter. The South Korean company said operating profit surged about 80% from a year earlier thanks to a recovery in panel prices and higher demand for mobile devices ahead of the holidays. The world’s second-largest display maker forecast increased demand for panels in the current quarter.
Cuba said US claims of sonic attacks were “science fiction.” It said it had no weapons capable of such attacks. Earlier this month the US recalled more than half of its diplomatic personnel from Havana, saying the attacks caused in them hearing loss, dizziness, and cognitive issues. Donald Trump said last week he believed Havana was responsible.
Quartz obsession interlude
Dan Kopf on why you should stop making charts and start using tables. “Charts can give data an undeserved patina of authority because it shows you have done some additional processing of the information. ‘Graphs are gimmicks, substituting fancy displays for careful analysis and rigorous reasoning,’ wrote the influential Columbia University statistician Andrew Gelman. ‘It is basically a trade-off: the snazzier your display, the more you can get away with a crappy underlying analysis.’” Read more here.
Matters of debate
Trash-talking your competitors can boost employee morale. But insults can promote unethical behavior and disrupt focus.
Eastern Europe’s economies are having a “Goldilocks moment.” High economic growth, low unemployment, and manageable inflation put Poland, Romania, and the Czech Republic ahead of their Western neighbors.
The US monopoly problem is causing a general malaise. Giant tech firms and globalized corporations mean fewer choices and less control.
Surprising discoveries
Sony’s new robot dog will love you and your appliances. The successor to the Aibo (paywall) is expected to learn new tricks and communicate with smart appliances.
The oldest known astrolabe was discovered in an Indian Ocean shipwreck. The navigational tool was made around 1500 and accompanied a Portuguese explorer to his watery grave.
Scientists say the universe should not actually exist. New data on matter and antimatter suggest they should cancel each other out.
This tiny worm hasn’t had sex in 18 million years. Diploscapter pachys doesn’t seem to mind the dry spell—it’s been producing near-perfect clones for millennia.
Colombians are finally drinking good coffee. The country has produced quality beans for export since the 1950s, but high-end beans are just starting to find customers at home. (paywall)
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