Good morning, Quartz readers!
What to watch for today
Xi Jinping meets Rodrigo Duterte in Manila. The capital has cancelled classes and work at government offices for the first state visit to the Philippines by a Chinese president in 13 years. After bilateral talks today, Duterte will host a state banquet in Xi’s honor.
EU leaders lay out post-Brexit guidelines. Officials in Brussels will publish a political declaration on the framework of the talks that will start after Britain leaves the EU. UK prime minister Theresa May says significant progress is needed on customs agreements and the length of the transition period, which could be extended to 2022.
The first recreational-cannabis stores open in the eastern US. Two shops will open in Massachusetts (paywall) as the state joins Alaska, Colorado, California, Washington, Oregon, and Nevada in allowing recreational retail sales.
Trump pardons some turkeys. This year’s lucky birds are Peas and Carrots, who have been staying at a luxury hotel in Washington DC. The birds he spared from the Thanksgiving table last year, however, have already died.
While you were sleeping
Another rough day for the markets. On Wall Street, the Nasdaq plunged 3% while the Dow and S&P both fell by more than 1.5%. The FAANG stocks—Facebook, Amazon, Apple, Netflix, and Google parent Alphabet—are now in bear-market territory, with each down 20% from their peaks. The US tumble dragged down stocks (paywall) in Asia, with Nissan in particular seeing huge turnover on the Nikkei following the arrest of its chairman Carlos Ghosn.
Ivanka Trump used her personal email in government communications… She sent hundreds of emails in 2017 to White House aides, cabinet officials, and her assistants using an email account with a domain she shares with her husband, reported the Washington Post (paywall). A spokesman said the president’s daughter was unaware she was breaking any rules, and that the emails did not contain classified information.
…While the White House restored the press pass of CNN’s Jim Acosta. The decision comes after a federal judge on Friday told the White House to reinstate his credentials for 14 days. The White House also laid out new rules for journalists at press conferences, including limiting them to one question each.
Airbnb will remove its listings in Israeli settlements in the West Bank. Its announcement, which affects about 200 rentals, comes ahead of a Human Rights Watch report on Airbnb’s business in the settlements. The organization, which for two years lobbied Airbnb to pull the listings, called the move a “breakthrough.”
Thousands fled after Guatemala’s Volcano of Fire erupted. Residents were forced to evacuate after Fuego volcano, one of the most active in Central America, spewed rock, ash, and lava. Guatemala’s volcanology department said explosions shook homes with “constant sounds similar to a train locomotive.” The volcano killed about 200 people during an eruption in June.
Obsession interlude
VHS: The rattling, fragile tapes seem primitive in an era of everything-on-demand, but they were an engineering wonder that set the stage for the streams we swim in. For the very first time, viewers could time-shift and binge-watch video to their hearts’ delight. Please rewind at the Quartz Obsession.
Quartz membership
Streaming wars: Netflix purportedly got its start when CEO Reed Hastings was outraged by a $40 late fee for a Blockbuster VHS rental of Apollo 13. Fast-forward to now: Netflix is the champion of the streaming-video market. But next year is shaping up to be a slugfest, as Netflix faces an onslaught from rivals like Apple, Disney, Amazon, and AT&T. For more from our field guide to the future of TV, sign up here for a free trial membership.
Conversation starter
“Selling Nissan or Renault stock on this news is silly. There is no such thing as Key Man risk in a company of 400,000 people. He’s no Steve Jobs either. And Apple did just fine.”
—Junta Nakai, global head of business development at Selerity, on the arrest and downfall of Nissan’s Carlos Ghosn
Surprising discoveries
Archaeologists found erotica in Pompeii. The Roman fresco, believed to have decorated a bedroom, depicted a Greek myth in which Zeus turned into a swan and raped the queen of Sparta.
A wedding magazine is closing after refusing to feature gay couples. After losing advertisers, the founders of Australia’s White Magazine hope “society can learn to accept people’s differences.”
Google is working on VR sneakers. The wheeled, motorized, omnidirectional shoes could protect us from real-world obstacles.
Wombat poop is shaped like a cube. Their unique intestinal output could be upscaled into a manufacturing technique.
El Chapo allegedly once had a man killed for leaving him hanging. A witness testified a cartel leader’s brother was murdered because he didn’t shake the drug lord’s hand.
Our best wishes for a productive day. Please send any news, comments, new-age sneakers, and impressive VHS collections to hi@qz.com. Join the next chapter of Quartz by downloading our app or becoming a member. Today’s Daily Brief was written by Alice Truong and edited by Isabella Steger.