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Biden appears to be on the brink of victory. The Associated Press has now called states representing 264 electoral college votes for former vice president Joe Biden. Winning any one of the currently undecided battleground states—lawsuits notwithstanding—spells victory for the Democrats and a loss for president Donald Trump. While much of the electoral map appears similar to 2016, county-level data reveals dramatic partisan swings in Texas and Missouri.
Markets are still digesting Tuesday’s results. Whoever wins the election, they’ll inherit a US economy that remains “well below” pre-pandemic levels and continues to see over 750,000 new unemployment claims per week. On the bright side, several successful pro-marijuana initiatives are going to boost tax revenues across the US while the prospect of a Biden win has already tanked private prison stocks.
The world is still watching. While a Biden White House will likely lead to a more open immigration policy, there’s still reason to believe that Trump’s signature embrace of xenophobic anti-immigrant rhetoric will endure. Still, many will find something to celebrate with all four current Indian-American Democratic lawmakers in the US House of Representatives winning re-election along with a dozen politicians at the state level. On the other hand, social media platforms failed to stop a torrent of election misinformation in Spanish.
In other news…
Ant Group’s IPO is reportedly delayed at least 6 months (paywall), while Airbnb plans to file next week.
Nintendo, Sony, and Alibaba all reported strong earnings—but worries about the Ant fallout caused the Chinese e-commerce giant’s stock to slide.
TikTok will let UK lawmakers review its algorithm, and parent company Bytedance plans to raise $2 billion at a $180 billion valuation.
Indian prime minister Narendra Modi talked up his country to global investors, as Reliance Retail scored a $1.3 billion investment from Saudi Arabia’s sovereign wealth fund.
An Indian government-backed vaccine could be ready as soon as February and according to a new survey, no one is more ready than Indians to get inoculated.
Charting global remittances
The dip in remittances won’t be as bad as initially feared. In April, the World Bank had predicted a 23.1% drop in remittances to sub-Saharan African countries this year, but updated estimates now foresee smaller declines of 9% in 2020 and 6% in 2021.
Much of the expected shrinkage is connected to slower rates of migration given international travel restrictions. But just as important are job losses and pay cuts among African migrants in wealthier countries.
Kelp, we need somebody
On days when it feels that uncertainty is too much to bear, we’d be wise to take notes from a humble, giant algae: kelp. It stays firmly rooted amid tumultuous forces beyond its control, and in doing so, inadvertently creates a nurturing environment for others. Health and science reporter Katherine Ellen Foley explains how we can thrive amid the uncertainty of the US election and beyond by being more like kelp.
What India stands to gain
Highly skilled, young workers from India—the biggest group of H-1B recipients—are abandoning the American dream and moving home. The technical jobs they held in the US may follow them.
With more restrictive policies in place, the jobs H-1B holders now have will travel to where the talent is. In the event of such a migratory reversal, India can only stand to gain. But the magnitude of these gains will depend on how well it can accommodate the influx of returning professionals.
Read more in our field guide on the status of the H-1B visa.
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Surprising discoveries
A five-eyed shrimp-like fossil was found in China. Dating to 520 million years ago, kylinxia zhangi could provide a missing link in arthropod evolution.
Wolf robots ward off animal invaders in Japan. There are 62 “monster” animatronics used to scare away deer, wild boars, and now, bears.
Maybe use Google Translate before changing your company name. The Adani mining group’s new moniker Bravus is Latin for “crooked” or “mercenary,” not brave.
A Kentucky town only elects dog mayors. A French bulldog named Wilbur won the 2020 contest.
This planet rocks. More specifically, it’s made only of rocks, so it rains vaporized minerals into oceans of lava.
Our best wishes for a productive day. Please send any news, comments, accurate Latin translations, and dog mayors 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 Yomi Kazeem, Katherine Ellen Foley, Jackie Bischof, Liz Webber, and Max Lockie.