Good morning, Quartz readers!
What to watch for today
All eyes on Amazon. The e-commerce giant is expected to show robust growth in e-commerce, ad sales, and cloud computing, but some investors are wary of its new $15 minimum wage and the US postal service’s proposed increase in shipping fees.
Alphabet spells it out. Google’s parent company is expected to report a rise in third-quarter revenue and profit, thanks to growth in mobile search traffic and ad sales, plus increased contributions from YouTube, Play, and Cloud.
Twitter posts an update. Investors are keen to see if Twitter’s efforts to make the platform less toxic by purging millions of accounts have had a positive effect on ad sales. A rise in third-quarter revenue is expected.
While you were sleeping
Wall Street’s rout hammered European and Asian markets. Stocks plunged across the world after US markets erased their 2018 gains (paywall) in one go yesterday. Britain’s FTSE 100 hit a seven-month low at the open on Thursday, while Asian stock markets entered bear market territory.
Trump blamed the media after explosive packages were sent to high-profile Democrats. Speaking at a Wednesday night rally in Wisconsin, the president accused the media of creating a hostile political environment. Yesterday, authorities intercepted parcels containing pipe-bomb-like devices, which had been sent to Barack Obama, Hillary Clinton, and CNN.
UBS doubled down on ultra-wealthy Americans. Switzerland’s largest bank, which today posted a 32% surge in third-quarter net profit, wants to grow its global wealth management division by targeting super-rich Americans. The FT reported (paywall) this week that the bank plans to hire high-profile relationship managers away from US competitors.
Russia and China are reportedly listening in to the president’s cell phone. Citing current and former officials, the New York Times (paywall) said that spies from both countries regularly tapped Trump’s mobile, which he keeps using despite warnings from his intelligence. Officials said that China’s aim was to glean information that might help it in the US-China trade war.
Emission rules and diesel drama dented Daimler’s profit. The Germany luxury automaker posted a 13% drop in sales and a 27% plunge in year-on-year third-quarter earnings. New EU emissions regulations, a ban on the coolant it uses in Mercedes-Benz cars, and ongoing diesel wrangles with the German government contributed to a gloomy quarter.
Quartz Obsession interlude
Dan Kopf on the real winners of the US-China trade war: “If China isn’t exporting as much stuff to the US, there is an opportunity for other countries to fill the void. There’s a Chinese proverb for this scenario: When the snipe and clam quarrel, it is the fisherman who profits. In this case, the fisherman may well be Vietnam or the Philippines.” Read more here.
Matters of debate
America needs more working class politicians. The social gap in politics is skewing the policymaking process.
Waking up early serves capitalism, not us. We just end up squeezing more work—not pleasure—into the day.
US college sports are affirmative action for rich white students. The admissions process continues to favor those who can afford pricey equipment and private coaching.
Surprising discoveries
A storm wiped an Hawaiian island off the map. Hurricane Walaka destroyed East Island, a nesting ground for endangered green sea turtles.
Rich Chinese millennials are flaunting their wealth in a meme. These “falling stars” photograph themselves spilling out of luxury cars, sprawled amongst their expensive trinkets.
British police are inundated with Friends jokes. Authorities are seeking tips, not TV references, as they search for a David Schwimmer lookalike, who robbed a restaurant.
A Washington judge caught an escaping prisoner. He threw off his robe, ran down four flights of stairs, and grabbed the man just as he was about to exit the courthouse.
Disney World is a popular place to scatter loved one’s ashes. The practice is so common employees have a code word and cleaning protocol (paywall) to hide the remains from visitors.
Our best wishes for a productive day. Please send any news, comments, David Schwimmer sightings, and updated maps to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android. Today’s Daily Brief was written by Jill Petzinger and edited by Jackie Bischof.