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What to watch for today and over the weekend
The IMF and the World Bank meet in Washington, DC. The annual meeting will wrap up with a conversation between IMF managing director Christine Lagarde and financial journalist Michael Lewis on Sunday. Discussions will focus on how to boost global growth and foster economic inclusivity.
Oil producers meet in Istanbul. OPEC and non-OPEC leaders will convene on Saturday to discuss the implementation of a deal reached last month in Algiers, which aims to cut output to between 32.5 to 33 million barrels a day. The agreement is expected to be in effect for up to a year.
Britain publishes data on industrial production. Analysts are hoping to see a rebound in figures after manufacturing output fell for three consecutive months (paywall) this summer. They’re forecasting growth of 0.5%, up from last month’s -0.9%.
While you were sleeping
US authorities warned about Hurricane Matthew. “This storm will kill you,” said Florida governor Rick Scott, urging the 1.5 million residents living in evacuation zones to take the storm seriously and leave. The slow-moving storm is the largest the US has faced in a decade and is expected to cause billions of dollars in damage—and likely deaths, as it has already by the hundreds in Haiti.
The pound suffered a flash crash in Asia’s morning trading. Possibly caused by a trader’s “fat finger” error or a computerized chain reaction, it saw the pound fall nearly 10% at one point. That followed the currency falling to a 31-year low yesterday on fears of a “hard Brexit.”
The world’s largest candy maker took full control of Wrigley. Mars will acquire the minority stake in Wrigley held by Warren Buffett’s Berkshire Hathaway, bringing M&Ms and Altoids mints under one roof. The combined entity, Mars Wrigley Confectionery, will be based in Chicago.
Satellite photos of North Korea hinted at another nuclear test. They showed increased activity at tunnel entrances to a nuclear test site, fueling speculation (paywall) that the rogue state would conduct a test to coincide with upcoming national anniversaries.
Countries agreed on a carbon emissions cap for the airline industry. The United Nations accord is the first of its kind, though environmental groups worry the deal doesn’t go far enough. Under the plan, which is voluntary until 2027, airlines will help fund carbon-reducing activities to offset their greenhouse gases.
Quartz markets haiku
A storm is brewing
Time to hunker down. And watch
Your insurance stocks
Quartz obsession interlude
Marc Bain on whether the world is ready for sweatpants at the office. “As jeans have gotten more formal, the measure of what’s acceptable has changed, creating room for an even more casual option to creep into the workplace. Designers love to play with these boundaries. Brands such as Vetements and Haider Ackermann have shown sweats on the runway, and for its spring 2016 men’s collection, Burberry even paired tailored joggers with more formal clothes, such as a shirt and tie. Would the look work for the office? Quite possibly.” Read more here.
Matters of debate
Time to tune out all-male discussions of women’s reproductive rights. If you are never going to need an abortion, women don’t need to hear your opinions on regulating them.
Be nice to cats, even if you hate them. The popular pets have been shown to help reduce childhood allergies, improve mental health, facilitate diabetes control, and decrease hospital stays.
Stop trashing trailer parks. Mobile homes have the potential to offer many comfortable, affordable housing, and could even be a lucrative investment opportunity.
Longer yawns lead to better brains. The act of opening our jaws and sucking in air has physiological benefits that improve brain activity.
Apes can guess what you’re thinking. Like humans, they have the ability to identify the goals and intentions behind others’ actions.
Bob Marley’s son is turning a closed prison into a massive weed farm. Damian Marley plans to grow marijuana in a 77,000-square-foot space that formerly housed nonviolent drug offenders.
Drunken birds dive-bombed a highway in Austria. The starlings had consumed too many fermented berries and ended up crashing into cars.
Turning off the internet is an expensive affair. Over the past year, government-ordered internet shutdowns cost countries $2.4 billion in lost economic production.
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