Good morning, Quartz readers!
What to watch for today
UniCredit reports earnings…again. On Oct. 23, UniCredit accidentally published a table with third-quarter figures on its website and sent it to investors. One day later, because the figures in the table were incomplete, it decided to release its third quarter results, two weeks ahead of schedule.
Disney reports earnings. Investors will watch the numbers closely, after a recent report that the company may be in talks to acquire the Hollywood studios of 21st Century Fox. Hurricanes during the quarter forced the company to close parks in Florida (for only the fifth time in almost five decades) and to cut short, change course, or cancel some Disney cruises in the Caribbean.
Trump to talk trade with China. During his stop in China, US president Donald Trump wants to put pressure on the country’s “unfair trade practices” and trade surplus with the US (which eased a little before his arrival). Reportedly on the table: $20 billion of agreements that include deals around natural gas and soybean exports.
While you were sleeping
Tencent bought a 12% stake in Snap. The Snapchat owner’s revenue, user growth, and earnings missed estimates in the third quarter. But the Tencent effect was felt immediately: Snap’s shares had dropped 22% after it announced the bad quarterly results—then jumped 34% after the Chinese giant announced the acquisition.
Apple’s planning an augmented reality headset by 2020. Information was leaked that Apple reportedly wants to build the headset as a standalone product (i.e. not dependent on a smartphone like current models), with its own screen, a brand new chip, and a new “reality OS” operating system.
Former Yahoo CEO Marissa Mayer appeared before the US Senate. Mayer, who at first had refused to testify, apologized for the massive data breaches. The first hack, in 2013, reached 3 billion Yahoo users. The 2014 incident involved the theft of 500 million Yahoo accounts, and resulted in US prosecutors filing charges against two Russian intelligence agents and two Russian-backed hackers.
UK government minister Priti Patel resigned. Patel’s undisclosed meetings with Israeli officials while on a family vacation caused an uproar and an official rebuke from prime minister Theresa May. Yesterday, the Guardian called Patel (and Boris Johnson) “incompetent, subordinate, and still in office.”
AT&T’s Time Warner acquisition hit a roadblock. In order to approve the deal, the Justice Department is asking AT&T to sell the media conglomerate Turner Broadcasting (which includes CNN) or the satellite television unit DirecTV. US president Donald Trump has been critical of CNN’s coverage of his campaign and presidency.
Quartz obsession interlude
Roya Wolverson on the awful tyranny of “the French woman” myth: “I saw women looking regal, and well-behaved children, yes, but I also saw women relegated to supporting roles, putting up with constant sexual innuendo, crying in quiet corners of cafés and parks. While I was chasing my version of the mythical French woman, French women were themselves suffering under the weight of the toxic myth.” Read more here.
Matters of debate
Don’t try to compete with Facebook. The downward trend in Snap’s stock price since its IPO is a warning: If your startup has an idea that Facebook might want to copy, rethink your business plan.
Technology is no substitute for human effort. In developing nations like India, digital progress can’t replace basic infrastructure or banish cultural stereotypes.
The natural hair movement is forgetting its revolutionary roots. Living up to standards of how Afro-textured hair should look misses the point of the movement’s radical history.
Surprising discoveries
There’s a bot that scams scammers. “Re:scam” uses AI to send a never-ending series of questions to email phishers, giving them less time to pursue real people.
The US just released an army of weaponized mosquitos. The EPA is allowing MosquitoMate to release its lab-grown, bacteria-carrying males (who don’t bite) to infect females and reduce populations.
Sheep can identify human faces in photos. They’re the only mammals outside of primates that can recognize familiar faces in 2D.
Facebook wants your “intimate photos.” The social media platform is testing a program that will, theoretically, stop image-based abuse by taking a digital fingerprint of your nude body.
Breathing New Delhi’s air is the same as smoking 45 cigarettes a day. Air quality index readings in several parts of the city have hit the maximum of 999.
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