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What to watch for today
Big banks kick off earnings season. JPMorgan, Goldman Sachs, Wells Fargo, and Citigroup all report their latest quarterly earnings, which are expected to be soft. Investors will scrutinize the statements for clues about profit prospects in 2020, as some worry that market expectations may be too optimistic.
A historic soccer game in Pyongyang. Speaking of kicking off, North and South Korea’s men’s soccer teams will face off in a World Cup qualifying match for the first time in Pyongyang since 1990. The game won’t be aired live outside North Korea and South Korean journalists have been barred from covering it.
The IMF adds fuel to recession fears. The organization is expected to cut its global growth forecast for 2019 at its annual meeting, lowering the already-modest estimate of 3.2%. The IMF’s recently appointed chief, Kristina Georgieva, warned in her first big speech a week ago that the “global economy is now in a synchronized slowdown.”
US Democrats take to the stage in Ohio. Twelve presidential candidates are heading to the podiums for the fourth debate of the campaign, and the first since the start of a House impeachment inquiry of Donald Trump.
Mozambique holds tense elections. President Filipe Nyusi and his Frelimo party will likely hold onto power, but opposition leader Ossufo Momade is favored to win a key governorship and become the first provincial official from a party other than Frelimo. Observers worry violence could taint the results.
While you were sleeping
China’s not ready to ink a US trade deal. Beijing wants to hold more talks, and get the US to cancel an additional December tariff hike, before Xi Jinping will sign a deal, Bloomberg reports. New data showed that China’s trade with the US slumped significantly last month, highlighting the damage already done by the trade war.
Faraday Future’s founder filed for bankruptcy. Jia Yueting says he owes $3.6 billion to more than 100 creditors in China, and offered to repay them with a share of the proceeds of a potential IPO of his electric car company.
Uber announced another round of layoffs. The company cut 350 employees from divisions including its self-driving car group and Uber Eats in its third set of layoffs since August. Uber’s shares rose by more than 3% after the firings.
The US threatened Turkey with sanctions and tariffs. In response to Turkey’s deadly incursion into northeastern Syria, Trump made an executive order that would impose sanctions on Turkish officials and increase tariffs on Turkish steel up to 50%. He also put discussions over a $100 billion trade deal on hold.
And the Booker Prizes go to… No, it’s not a typo. For the first time in more than 25 years, the prestigious literary award (and its cash prize) will be shared—this time, by British author Bernardine Evaristo (Girl, Woman, Other) and Canadian novelist Margaret Atwood (The Testaments). Evaristo is the first black woman to win the award.
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Apple’s iPhone sales may be stagnating, but the company has some bold new plans up its sleeve. This week’s field guide offers deep dives into two areas where Apple is betting big: Ananya Bhattacharya explores the strategies that Apple is using to make inroads in India’s Android-dominated smartphone market, while Adam Epstein unpacks the Cupertino giant’s plan to take on Netflix with the Apple+ streaming service, set to debut next month.
Matters of debate
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Jetsetters should pay more to fly. Frequent flyers should be penalized, not rewarded.
Venezuela doesn’t belong on the UN’s Human Rights Council. Costa Rica will do whatever it can to keep Nicolás Maduro’s government out.
“Break up Big Tech” is starting to sound tired. Political leaders must think beyond yesterday’s solutions to rein in Silicon Valley’s giants.
Surprising discoveries
Cows need friends to be happy. Research shows that bovines form close individual bonds—but large dairy farms often split up pals when they shuffle herds.
The world’s first novel has a new chapter. A manuscript of the 11th-century text The Tale of Genji, discovered in a Tokyo family home, includes a missing portion of the epic tale.
A new California law says schools can’t start earlier than 8am. Proponents say the new rule will improve sleep-deprived teens’ physical and mental health—not to mention their grades.
There’s a term for the aesthetic of brands like Glossier and Reformation. Researchers describe the slightly imperfect, Instagram-friendly marketing as “aspirational realness.”
Africa has the fastest-growing number of people immigrating to the US. The ranks of African migrants grew almost 50% from 2010 to 2018.
Our best wishes for a productive day. Please send any news, comments, friendly cows, and lost manuscripts to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was brought to you by Patrick deHahn, Natasha Frost, Jason Karaian, Nicolás Rivero, and Sarah Todd.