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JD Health’s debut was a hit. Shares in JD.com’s retail health company closed more than 50% higher on the Hong Kong exchange on its first day of trading.
Two vaccines got a boost. The US Food and Drug Administration gave high marks to the Pfizer/BioNTech vaccine ahead of an advisory panel’s meeting Thursday to discuss emergency authorization. Meanwhile, a peer review confirmed the safety and efficacy of AstraZeneca’s vaccine.
The UK and EU reached a deal on border controls. The movement of people and goods in and out of Northern Ireland has been a particular sticking point during post-Brexit negotiations.
A Chinese oil company is bailing out Iraq’s government. China ZhenHua Oil will reportedly pay billions upfront for a year’s supply of oil; the deal is set to last a total of five years.
Interest is growing in the Trans-Pacific Partnership. South Korean president Moon Jae In said his country will consider joining the free trade pact, which China and the UK have also recently considered.
New Zealand’s report on the Christchurch massacre called out YouTube. The report found the shooter was radicalized by extreme right-wing content on the video sharing platform.
Joe Biden’s victory is all but assured. US states had until Tuesday to certify their results and approve the electors who will choose the next president. Any new challenges are unlikely to change the election’s outcome.
What to watch for
IPO madness. DoorDash and Airbnb are going public today and tomorrow, respectively, with hiked listing prices that reflect seemingly insatiable demand. They’re the latest two companies to join a flood of billion-dollar IPOs that have added to the list of Historic Things About 2020, a year that combined low interest rates with a pandemic-fueled passion for both food delivery and weird workcations.
That state of affairs may raise alarm bells, given that the last year to set a record for US IPOs was 2000—the height of the tech-led dot-com boom and its subsequent bust. But while valuations are certainly inflated, the businesses themselves might be more structurally sound.
Charting minimum wage in the US
If Covid-19 has unwittingly helped create a hunger for huge IPOs, it has also advanced another arguably more important battle in the US—the fight for a $15 minimum wage. The pandemic has increased recognition for America’s hardest workers and lowest earners, and proponents see raising wages as an opportunity to boost the broader economy while reducing poverty and narrowing income inequality.
Before the virus hit, companies were already changing their tune about raising their hourly pay, or at least, ceasing efforts to fight mandated minimum wage increases. With a federal increase unlikely due to a Republican-controlled Senate, states will continue to make the most impactful moves.
Home field advantage in India
Thousands of Indian farmers are protesting against three new farm laws—and two of the country’s richest men. Reliance Industries chairman Mukesh Ambani and Adani Group chairman Gautam Adani have been eyeing the farm sector, and the protesting farmers believe that laws drafted by the government of prime minister Narendra Modi favor large corporations and eliminate safeguards for farmers.
All three men were burned in effigy on Saturday. Negotiations between the government and farmers’ unions have yet to go anywhere, as agricultural workers continue to strike and demonstrate. Niharika Sharma describes how the protests are providing fertile ground for international support.
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Surprising discoveries
China and Nepal finally agree on how tall Mount Everest is. The world’s highest mountain gained about 0.86 meters (2 ft 10) in a new official measurement.
A Chinese women’s university football team had to forfeit over hair. One player’s locks were deemed “not black enough,” per an official ban on hair dying.
Stressed Americans are hoarding antacids. Worries about the coronavirus and the election have led to temporary shortages of the medications.
Argentina might put Diego Maradona on its money. The proposed banknote would also feature an image of one of the player’s most famous goals.
KFC made a sexy Christmas movie. The 15-minute film stars Mario Lopez as Colonel Sanders.
Our best wishes for a productive day. Please send any news, comments, stress relief remedies, and any other film idea 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 Liz Webber, Nicolás Rivero, Michelle Cheng, Niharika Sharma, and Susan Howson.