Good morning, Quartz readers!
What to watch for today
Target takes stock. The strong US economy is expected to buoy third-quarter earnings for the retailer, which has seen its share price rise 22% this year. Investors will be looking closely at the company’s online sales to gauge how it’s fending off Amazon, as well as its holiday season forecast.
Xi Jinping meets Rodrigo Duterte in Manila. The capital has cancelled classes and closed 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. Brussels will publish a declaration on talks that will start after Britain leaves the EU. UK prime minister Theresa May says progress is needed on customs agreements and the transition period, which could be extended to 2022. Meanwhile, half a dozen senior financiers (paywall) joined the call yesterday for a second Brexit referendum.
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.
While you were sleeping
Another rough day for the markets. A US tumble dragged down stocks (paywall) in Asia and Europe, with Nissan in particular seeing huge turnover on the Nikkei following the arrest of its chairman Carlos Ghosn. Cryptocurrency markets also continued their slide Tuesday, with bitcoin down 30% in a week.
Chicago reels from a hospital shooting. An emergency room physician, pharmaceutical assistant, and police officer were identified as the victims in a Monday afternoon shooting at Mercy Hospital that reportedly began as a domestic dispute. The suspected gunman was also confirmed dead.
Trump’s asylum ban was blocked, for now. A federal judge ruled that immigrants who illegally cross the US border from Mexico cannot be denied the right to claim asylum. The temporary restraining order against Trump’s November proclamation will last until December 19.
Saudi Arabia’s foreign minister denies CIA findings. Adel bin Ahmed Al-Jubeir told an Arabic-language newspaper that claims by the CIA and others that journalist Jamal Khashoggi’s murder was ordered by prince Mohammed bin Salman are untrue. The Saudis have provided multiple conflicting explanations for Khashoggi’s death in early October.
Ivanka Trump used her personal email in government communications. The president’s daughter 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 Trump was unaware she was breaking any rules, and that the emails did not contain classified information.
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 depicts a Greek myth in which Zeus turned into a swan and raped the queen of Sparta.
The first sweet potato marshmallow casserole was sponsored content. The divisive Thanksgiving dish was concocted by a cookbook author working for a marshmallow company.
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.
Our best wishes for a productive day. Please send any news, comments, marshmallow casserole recipes, 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 Rosie Spinks and edited by Jackie Bischof.