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Here’s what you need to know
Goldman Sachs finally settled its 1MDB fine. In what is now the largest fine levied over the US Foreign Corrupt Practices Act, Goldman will pay nearly $3 billion—on top of a $3.9 billion payment to Malaysia—to resolve the decade-long scandal. Hong Kong has also fined the Wall Street bank an additional $350 million, and the company’s current and former chief executives will see their compensation clawed back.
The UK fleshed out its Hong Kong visa deal. The uncapped offer for five-year visas, for which around 3 million people will be eligible, will cost £250 ($330) per person. The UK first proposed granting Hong Kongers visas in July, after deciding that China had violated the terms of a 1984 handover treaty.
Japan prepares for a “green society.” Following a similar announcement from China last month, prime minister Yoshihide Suga will reportedly pledge to cut the country’s carbon emissions to net zero by 2050.
Ant Financial’s IPO shapes up. Launched 16 years ago as the payment arm of Alibaba, the Hangzhou-based company is on the verge of likely the world’s largest IPO and a valuation of more than $300 billion. John Detrixhe’s latest report rounds up what investors are saying now.
Asian garment workers pay for pandemic price cuts. Fashion companies canceled a huge volume of orders earlier this year. Now, even as demand has returned, a new survey reveals that more than half of regional suppliers have been forced to cut their prices.
The US election enters the homestretch
President Donald Trump and the Democratic nominee, former vice president Joe Biden, are scheduled to debate Thursday evening, local time, the last time voters will see them face off before polls close in less than two weeks. While a mute button should make for a more orderly exchange, there’s still plenty of time for election drama:
🇮🇳 A Kamala Harris meme upset Hindu groups for its use of religious imagery.
📹 In some swing states, YouTube has run out of slots for political ads.
☑️ US voter turnout was 56% in 2016. Would compulsory voting be better or worse for democracy?
Charting India’s fantasy sports startups
Cricket fans in India are flocking to fantasy sports. The surging popularity has translated into strong growth for these startups, and total industry revenue spiked by three times to Rs2,400 crore ($326 million) during the 12 months ended on March 31.
Apart from Indians’ unending love for cricket, cheap data plans (thanks to Reliance Jio) and increased smartphone penetration have made these startups winning bets for investors, who have pumped $112 million into India’s sports fantasy platforms.
You asked about flying safely
I’ve been seeing a lot of talk about how we can fly safely if we wear masks. The holidays are coming up…is this accurate?
Researchers have been trying to answer this question since the beginning of the pandemic, and last week one of the more involved studies (pdf) made headlines. It used a mannequin that simulated the breathing of a passenger with Covid-19, tracking the movement and concentration of “infectious” particles around an actual cabin.
You should take its results—which showed that passengers wearing masks wouldn’t be exposed to infectious doses of viral particles—with a few grains of salt. For one, the study was funded in part by United Airlines, which obviously has a vested interest in returning passengers to the sky. And the mannequin setup, while fun, didn’t account for human behaviors like talking, moving around the cabin, and using the lavatory. (Not to mention what happens before and after boarding.)
If you must fly, there’s evidence to suggest that the air filtration and circulation in planes do a good job at reducing passengers’ exposures—especially if everyone around you wears their masks appropriately. But the risk isn’t as low as this best-case-scenario study would suggest.
The unstoppable podcast boom
Even with fewer people commuting to work—a popular time for listening—Covid-19 couldn’t stop the rise of podcasting. Downloads of podcasts in the US have soared in 2020, according to data from podcast measurement company Chartable.
The pandemic does seem to be responsible for a shift in tastes. Podtrac, another podcast data firm, tracks podcast downloads by genre. For the shows Podtrac measures, overall downloads by US listeners grew by 42% from October 2019 to October 2020. Yet there was a huge disparity across genres. Find out which genres exploded, and which have seen virtually no growth, in our field guide to the podcast business.
✦ Looking for a way to fill the time you used to spend commuting? Might we suggest perusing our collection of field guides and presentations, available exclusively to Quartz members. Use promo code QZTWENTY for a 20% discount.
Surprising discoveries
A pandemic palette has emerged. Paint sales are up and everyone is choosing the same colors.
TV’s biggest hitmaker quit her job over a Disneyland pass. It was the right move.
NASA is playing tag with an asteroid. And we really hope that it doesn’t tag us back.
Why would an esports fitness tracker need GPS? Group Play Sensor? Gamer Playing Station? Getting Pwnd Sporadically? What could it mean?
There are two kinds of people. Those who are thrilled by this fried chicken-scented face mask… and everyone else.
Our best wishes for a productive day. Please send any news, comments, soothing paint colors, and scented face masks 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 Prathamesh Mulye, Katie Palmer, Jackie Bischof, Liz Webber, and Max Lockie.