Good morning, Quartz readers!
What to watch for today and over the weekend
Will Donald Trump and Vladimir Putin meet in Vietnam? Both leaders are at the Asia-Pacific Economic Cooperation Summit in Danang today. The White House said they won’t have a dedicated meeting, but a Russian presidential aide said the two have agreed to meet on the sidelines.
Alibaba and JD.com battle it out on China’s crazy shopping day. Singles Day, created to encourage lonely Chinese consumers to shop, far outstrips Black Friday in the US. Alibaba has recruited 600,000 stores nationwide to help sell and deliver goods, and Citigroup forecasts sales of 158 billion yuan ($24 billion) on Nov. 11.
The US performs a rare naval exercise in the Sea of Japan. Three aircraft carriers will take part in maneuvers not seen in the Western Pacific since 2007. From Saturday to Tuesday, the strike force will perform all sorts of drills in a show of strength directed at North Korea.
While you were sleeping
Trump railed against trade agreements at the APEC summit. The president told business leaders in Vietnam that the US had been treated unfairly (paywall) by the global trading system and won’t be “taken advantage of anymore.” APEC brings together 21 Pacific region economies, accounting for 60% of world GDP.
A lip-syncing app was sold for as much as $1 billion. The Musical.ly app has been a huge hit with teens in the US and elsewhere. The buyer is Beijing Bytedance Technology, one of China’s hottest tech startups. GGV Capital and Greylock Partners are among the investors.
Saudi Arabia told its citizens to leave Lebanon. Saudi Arabia and Iran could be heading towards a military confrontation, with Lebanon at the center. The Lebanese prime minister resigned this week while in Riyadh, saying he feared for his life. The Saudis claim Lebanon is being controlled by Tehran’s proxy, Hezbollah. Israel and the Trump administration are on Saudi’s side.
Loose controls led to cheating at Kobe Steel. An internal investigation at the embattled Japanese steelmaker said workers faked data about steel specifications for at least 10 years. The revelation has shaken up aircraft and car manufacturers, who can’t be sure about the safety or performance of the steel used in their products.
People are buying bling again. Cartier owner Richemont said recovering Swiss watch and jewelry sales boosted its operating profits by 46% (paywall) in the past six months. Hong Kong, the Swiss company’s most important market for high-end watches, is growing again, as is mainland China, Korea, and the UK.
Quartz obsession interlude
Dan Kopf on the region that’s growing older a lot faster than anywhere else in the world. “East Asia’s aging population is a cause for celebration, as it mostly reflects improved living conditions. Yet it also presents a big challenge… Since working-age populations are shrinking in comparison with the ranks of retirees, younger East Asians will bear the brunt of paying for old-age benefits for their parents.” Read more here.
Matters of debate
Beijing played Trump like a fiddle. China often flatters foreigners with over-the-top ceremonies and then refuses to change.
Stopping global food waste is a matter of diet. Reducing meat production would save precious resources and energy—and get more vegetables on plates.
Horoscopes aren’t stupid. Astrology may be not be scientific, but our long history of looking at the stars can still bring mental and personal benefits.
Surprising discoveries
Pope Francis banned cigarette sales inside the Vatican. Thousands of Vatican employees and retired staff could buy tax-free cigarettes, netting millions of euros in annual revenue for the Vatican.
A driverless shuttle in Las Vegas got in an accident in its first hour of service. It was caused by the other vehicle’s human driver, which the shuttle’s sponsor says proves its point.
Netflix will test new ideas by publishing comic books. That’s why it acquired publisher Millarworld.
The CEO of T-Mobile US is a cult-hit cook. Millions of fans adore John Legere’s “Slow Cooker Sunday” (paywall) YouTube Series.
Poland wants its people to mate like rabbits. The government released a hare-raising ad encouraging citizens to make more babies.
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