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Trump and Biden went at it. The two candidates insulted and interrupted one another other throughout. Donald Trump again refused to confirm he’d accept the election result, and ignored a question about white supremacists; Joe Biden told the president to shut up, and called him a clown.
Disney and Shell announced huge layoffs. Disney is losing 28,000 workers, mostly in California, where its parks are closed, and in Florida, where it has operated at restricted capacity. Meanwhile, Shell is shedding up to 9,000 staff worldwide because of the slump in demand for oil.
Palantir trades on the New York Stock Exchange. With a reference price that values it at $15.7 billion, the data-mining firm backed by Peter Thiel is hoping a direct listing will leave less money on the table than a plain-vanilla IPO.
The owner of Caesars casinos is buying a British bookmaker. The $3.7 billion deal for William Hill, which has 170 sites in 13 US states, gives Caesars control of the lucrative sports betting market in the US. The company intends to sell off William Hill’s non-US sites.
A court in India acquitted everyone over the destruction of a mosque. The Babri Masjid stood on a site that many Hindus claim is the birthplace of one of their most revered deities, and its demolition in 1992—for which the former deputy prime minister was among the accused—sparked decades of unrest.
The US presidential debate
Trump and Biden thrashed through a range of domestic issues during the first of three presidential debates on Tuesday night. The event began with a discussion of Supreme Court vacancies and went on to cover the US coronavirus response, racial justice movements, and the economic recovery. Here’s what else we’re tracking:
🛂 Immigration: Between 2016 and 2019, the number of immigrants who became US permanent residents declined 13%. These are the countries with the biggest immigration gains and losses under Trump.
📈 Wall Street: While traders have upped their bets on a contested election, financial instruments linked to swings in US stock prices reveal an expectation the election will be resolved by Inauguration Day.
🇺🇸 Precedent: Presidential debates are a showcase event of the US election cycle, commanding live coverage around the world and much political analysis, but they have little impact on election outcomes.
👟 Running mates: Though she won’t be on the stage tonight—the vice-presidential debate is scheduled for Oct. 7—Kamala Harris needs to go beyond flaunting her Indian heritage to woo American desis.
Charting Taiwan’s resilient economy
Covid-19 has barely impacted Taiwan’s economy. Instead, it’s benefiting from the demand for technology that powers 5G servers and artificial intelligence—industries that have been turbocharged by home-schooling and work-from-home trends around the world. “Taiwan stands out for its scant evidence that a global pandemic has even occurred,” JPMorgan economists recently wrote.
ADVICE FROM GLOBAL LEADERS
For our field guide on borderless teams we asked experts and leaders about the elements of global teams that, when managed well, can be instructive for leaders of remote teams of all sizes. Here are their pointers:
- Embrace different perspectives: For global teams, differences—in culture, experience, technical competencies, and time zones—are considered a strength.
- Build trust quickly: Global leaders facilitate connections between the people they manage. These bonds, even if they are fragile, will determine how a team manages stress.
- Consider power dynamics: They can play out in a variety of ways—from the technology and platform that is selected by a team leader, to the way meetings are run.
- Revisit your team’s purpose: Teams that work together over long periods without face-to-face interaction should regularly check in about their purpose and framework.
- Evolve structure to be flexible: Global teams thrive on structure and stable work flows, which set the foundation for them to be adaptable.
Discover more advice from Nasdaq executives, pharmaceutical leaders, NASA directors, and more in our latest field guide to virtual, borderless teams.
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Obsession interlude: Borders
At the beginning of the year, the US government was waging an anti-immigration campaign to dissuade people from moving to the US. But with the failure to contain coronavirus, its wish has been granted: Covid-19 has created an invisible wall around the country that not only limits access, but prevents most escapes. Only a handful of countries accept American travelers, and European citizens wishing to return home are forced to undergo a strict health screening.
Jumbo jets are taking off all but empty, and bizarre rules—such as banning loose items of clothing from overhead compartments—are typical of the haphazard and unstrategic US response to the pandemic.
Let’s discuss company culture
What happens to workplace culture when the office goes remote? Register for our free virtual workshop on Oct. 1, 11am-12pm US eastern time, to learn how you can nurture your company’s culture in quarantine. Company culture is more than just the activities that bring employees together inside the office. Our workshop will help you redefine what company culture means for your organization and provide advice on how to build it.
Surprising discoveries
Carlos Ghosn wants to “bring back trust.” He wants to impart lessons learned at Nissan—after escaping from Japan to avoid criminal charges.
Your honey is probably fake. “Honey launderers” dilute real honey with syrup, or chemically modify syrup to make it look like the real thing.
Quarantined parrots taught each other to swear. The five African gray parrots who had shared a room also began calling visitors names at a wildlife park in England.
China’s elite swimmers are being judged on pull-ups and squats. At the national championships, they have to do 10 physical tests outside the pool in order to progress.
A commuter train blocked the Hogwarts Express. Harry Potter fans waited ages to see the steam engine, but a regular one appeared and spoiled their view.
Our best wishes for a productive day. Please send any news, comments, foul-mouthed birds, and a seat on the train to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Hasit Shah, Liz Webber, and Max Lockie.