Good morning, Quartz readers!
Here’s what you need to know
- Coronavirus cases are climbing again in South Korea, Japan, and Hong Kong.
- India’s GDP shrank 7.5% last quarter compared with a year ago, as the pandemic pummels what had been the world’s fastest growing economy.
- AstraZeneca and Oxford University will run a new trial of their vaccine candidate, after questions emerged about dosage levels.
- Iran’s top nuclear scientist was killed in a roadside ambush, a bad omen for US hopes of reactivating a nuclear agreement.
- China said its first nuclear reactor developed with homegrown technology is now online, part of the country’s “Made in China 2025” initiative.
- Hong Kong chief executive Carrie Lam said she keeps “piles of cash” at home after losing her bank account due to US sanctions.
- Tokyo Olympics organizers announced 18 test events that will run from March to May, in anticipation of the postponed Games kicking off in July.
- Face-to-face Brexit talks have resumed, with just five weeks left until the deadline. The UK is also resuming tiered Covid-19 restrictions.
- US president Donald Trump lost a Pennsylvania election challenge, pardoned former national security advisor Michael Flynn, and said he will leave office come January.
- Former Zappos CEO Tony Hsieh died from injuries sustained in a house fire. Hsieh was known for championing a decentralized corporate structure known as “holacracy.”
What to watch for
Monday: Cyber Monday, expected to break US e-commerce records. Hong Kong hosts a Belt and Road summit; India hosts a summit with six heads of state; OPEC plots its next move. Earnings: Zoom.
Tuesday: Fed chair Jerome Powell and US Treasury secretary Steven Mnuchin testify before the Senate. Eurozone finance ministers meet; JD Health sets its IPO offer price in Hong Kong; the US releases construction spending, and Canada third-quarter GDP. Earnings: Salesforce (now in talks to buy Slack) and Hewlett Packard Enterprise.
Wednesday: Powell and Mnuchin Senate testimony, Part II. Earnings: Lululemon, Microsoft, CrowdStrike, and Snowflake (its first since going public).
Thursday: US releases initial jobless claims. Earnings: Kroger, Ulta, Dollar General.
Friday: The Trump administration’s no-really-this-time deadline for ByteDance to sell TikTok’s US business. Plus: US and Canada employment data.
June 2021: When Goldman Sachs expects large swaths of people in developed countries will be vaccinated against Covid-19.
Charting Amazon employment
In a year plagued by widespread layoffs, Amazon is bucking the trend. As of October, the company added 427,300 employees, increasing its workforce to 1.2 million, according to the New York Times. Currently listed as the world’s fifth largest employer, Amazon’s historic levels of hiring are likely to move it up to third.
Walmart, the world’s largest employer, has 2.2 million workers; at Amazon’s current pace of hiring, it would be able to take the title in two years. Of course, Walmart has also been staffing up during the pandemic.
Danke pain
See if you can recognize this company:
“[X] rents space from landlords on long-term leases. It then slices up and furnishes the units before subletting them. The company gained investor interest by positioning itself not simply as a property management firm, but as a tech company that uses big data and apps to offer a seamless user experience.”
If you guessed WeWork, you’d be right… but also wrong. In this case it’s Danke Apartments, a Chinese startup that rents out 415,000 flats in 13 cities. Just one problem: Cash-strapped Danke has stopped paying some landlords, and tenants are complaining about electricity, water, and wifi outages.
Keep calm and carry on
This year is hammering home some basic truths about management, starting with the fact that it was evolving long before the pandemic. Working remotely, integrating work and home life, thinking beyond a job description: All of these things started years ago. Except now, not noticing is not an option. Our latest field guide on leading through change provides practical advice on how to update your management handbook, including:
😎 The updated guide to modern leadership
💫 5 rules for managers ready to buck conventional wisdom
🌈 Advice for managers who are serious about inclusion
🎥 Quartz’s workshop on leading teams through tension
✦ Ready for us to hammer home another basic truth? Life is better with a Quartz membership. Find out for yourself with a seven-day free trial.
Surprising discoveries
A fireball lit up Japan. A type of shooting star known as a bolide was spotted falling from the sky over parts of Japan in a burst of light.
The mysterious monolith is gone. Less than two weeks after it was discovered in the Utah desert, a metal monolith planted in the ground was removed by an unknown party.
Kenya’s best social commentary comes from puppets. This season of the The XYZ Show uses puppet caricatures to tackle subjects like rising debt and gender representation in parliament.
Goldman Sachs is using drones for M&A deals. The investment bank has conducted drone-driven virtual tours of everything from shipping ports to chemical factories.
Some grinches stole Christmas trees. Thieves were caught on camera in London taking 300 trees, worth more than £3,000 ($3,990).
Our best wishes for a productive day. Please send any news, comments, Cyber Monday sales, and missing monoliths 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 Amanda Shendruk and Kira Bindrim.