Good morning, Quartz readers!
What to watch for today
Dalit protests continue in India. Leaders of the downtrodden community have called for further demonstrations after a young man was killed during a clash with right-wing Hindu activists over the 200th anniversary of a historic battle. Protests on Tuesday resulted in widespread disruptions in Mumbai.
Investors eye Fed minutes. The US central bank is due to release discussions about its decision to raise interest rates in December. Analysts think outgoing chair Janet Yellen may be more frank about her views on the state of the US economy and the need for further hikes.
Stricter EU bank regulations take effect. A complicated thicket of new rules will force financial firms to disclose more detailed information about their trades. Major banks and asset managers have already spent an estimated $2.1 billion to comply.
While you were sleeping
Iran’s supreme leader blamed “enemies” for deadly protests. Ayatollah Ali Khamenei said outside groups were responsible for violent demonstrations over the country’s economic woes. Khamenei used Twitter to air his accusations even as Iran banned most social media networks, saying they were provoking “social unrest.”
Peter Thiel made a big bet on bitcoin. The Silicon Valley investor’s flagship Founders Fund has accumulated a stake of several hundred million dollars in the surging cryptocurrency. Meanwhile, many criminals have abandoned bitcoin for rival currencies that offer more privacy, such as monero, ethereum, and Zcash.
WeChat denied storing user conversations in China. Parent company Tencent assured Users that chat histories are kept only on users’ phones (paywall), refuting an allegation from Geely Automobile chairman Li Shufu. WeChat’s denials may be at odds with Chinese cybersecurity laws, which require firms to store “internet records” for at least six months.
South Korea extended an invite to Kim Jong-un. Responding to North Korea’s offer to send athletes to next month’s Winter Games in Pyeongchang, South Korean president Moon Jae-in touted a “groundbreaking chance” to initiate the first bilateral talks in more than two years.
Two senior Vice Media executives were suspended over sexual harassment allegations. President Andrew Creighton and chief digital officer Mike Germano were placed on leave after an expose by the New York Times, which reported that more than 20 employees experienced or witnessed misconduct.
Quartz obsession interlude
Marc Bain on why the world’s largest clothing maker isn’t betting on automation. “Hong Kong’s Crystal Group makes clothes for many of the world’s clothing giants, including H&M, Gap, Fast Retailing (owner of Uniqlo), and L Brands (owner of Victoria’s Secret). … For now, at least, Crystal Group will not be replacing humans with machines. One reason is that while robots in use in other industries can work easily with stiff materials, such as sheets of metal or plastic, they can’t yet can’t work with soft, flexible fabrics that stretch and distort during sewing.” Read more here.
Matters of debate
Tiny, niche online communities are back. Our desire for community will lead us to abandon vast social networks.
Xi Jinping is making China great again. An expansionist China is seeking more global influence as the United States does the opposite.
Iceland found a simple way to eliminate the gender pay gap. As of Jan. 1, it’s illegal to pay men more than women to do the same work.
Surprising discoveries
Last year was the most foul-mouthed in corporate earnings call history. A search for expletives in transcripts revealed a big spike as executives try to stay relatable.
France is redefining Champagne. Grape-growing towns outside the region have been lobbying to be included, and by 2021, many will get the coveted label.
A taxi passenger tried to skip out on a three-country fare. A driver took an inebriated man from Copenhagen to Oslo, where he left without paying the €1844 ($2,220) he owed.
China’s space lab is crashing to Earth but probably won’t hit you. Debris from the Tiangong-1 station is expected to land in the ocean sometime in March.
Some ambitious Kiwis built an island to bypass a public drinking ban. The tiny sand mesa was just big enough for a picnic table—perfect for New Year’s Eve carousing.
Canada’s too cold for penguins. The Calgary Zoo brought its flock inside when the wind chill reached -40 ℃ (-40 ℉; yes, they’re the same).
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