Good morning, Quartz readers!
What to watch for today
Italy submits yet another budget to Brussels. The European Commission in October rejected Italy’s 2019 draft budget for proposing a deficit above EU rules. If that doesn’t change by today’s deadline, Rome risks sanctions of up to 0.2% of its GDP.
British passport holders learn if they need visas to visit the EU. The European Commission will decide if UK adults will have to pay €60 ($67), fill out a three-page form, and wait up to six weeks for permission to enter the EU’s Schengen area, which encompasses 26 countries.
Angela Merkel addresses the European Parliament. Her speech in Strasbourg will be watched closely for clues on whether the German chancellor feels emboldened to tackle big reforms before leaving office in 2021.
El Chapo’s trial begins in Brooklyn. US prosecutors will lay out their case against the Mexican drug lord Joaquín Guzmán Loera, who is charged with drug trafficking, money laundering, and homicide.
US Congress convenes for the first time since the midterms. Lawmakers have four weeks left in the year to prevent a partial government shutdown, which will include a fight over Trump’s proposed US-Mexico border wall. Republicans and Democrats will also decide on their leaders in the House in the new term.
While you were sleeping
Amazon landed on New York City and Crystal City, Virginia for its second and third headquarters. The e-commerce giant winnowed a list of 238 candidates for its “HQ2” to two cities in a search that lasted more than a year, reported the Wall Street Journal (paywall). Amazon plans to hire as many as 50,000 employees across the new locations. An announcement is expected as early as today.
Boeing withheld information about potential hazards on its 737 MAX models. An automated system meant to help pilots avoid raising a plane’s nose dangerously high could, under unusual circumstances, push it down unexpectedly, reported the Wall Street Journal (paywall). Airline managers and pilots say they never learned such a system was added and thus couldn’t prepare for the risks.
Wall Street’s rout extended into Asia. In an ugly start to the week, the Dow plunged 600 points, and the S&P and Nasdaq fell more than 2% each. In Asia trading hours, the Nikkei slid more than 3% at one point, and other indices in the region also fell. Investors are skittish over news Apple slashed orders from its suppliers (paywall) and Goldman’s role in Malaysia’s 1MDB scandal (paywall).
The fire in northern California became the deadliest in state history. The death toll for the Camp fire rose to 42 (paywall) while the Woolsey fire in southern California has killed at least two and scorched more than 90,000 acres. About 100 people remain missing across the state.
RIP Stan Lee. The creator of Spider-Man, Iron Man, Daredevil, X-Men, and many other comics died at the age of 95 in California. Although he never reaped the full financial rewards from his work, he set the stage for the modern dominance of comic-book culture. Excelsior!
Obsession interlude
The compound that puts the magic in magic mushrooms. Psilocybin could be the next medicinal marijuana. Peter Thiel has lined up behind one company that’s trying to move it into clinical trials as a treatment for depression and other mental afflictions. If it works, it’ll fulfill a promise from decades ago, before the war on drugs, but there are also concerns about the Big Pharma tactics of Britain’s Compass Pathways. Trip down the rabbit hole with today’s Quartz Obsession.
Matters of debate
Retirement is going extinct. Employers need to adapt to aging populations and shifting employment trends.
Tech giants benefit from an outdated definition of monopoly. Companies like Google, Facebook, and Amazon have bought out more than 500 competitors in the last 10 years.
Women are choosing shorter commutes over higher salaries. They’re prioritizing flexibility, including working from home, at the cost of the perfect job.
Surprising discoveries
Jony Ive reinvented the diamond ring. Apple’s design chief helped create a ring made entirely of diamond, refined using a laser-powered water jet.
Toy Story 4 is sparking a philosophical debate about sentience. A new character called Forky has some asking when a spork comes alive, and if the process is reversible.
Angela Merkel was mistaken for Brigitte Macron. A 101-year-old Frenchwoman was convinced the German chancellor was the French president’s wife.
Fat humans are stretching Earth’s food supply. Current projections may underestimate the amount of food needed to feed humanity as people grow larger.
There are sweatshops for internet moderators. A documentary follows a group of moderators in the Philippines whose job is to see the worst of the internet.
Our best wishes for a productive day. Please send any news, comments, sentient utensils, and rings of diamond 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 Alice Truong and edited by Tripti Lahiri.