Good morning, Quartz readers!
What to watch for today
Alibaba stretches “Singles Day” into a three-week event. The Chinese e-commerce giant’s gargantuan sales event, which pulled in $14 billion worth of sales last year, is being expanded into an extravaganza of promotions.
Typhoon Haima arrives in Hong Kong. The Category 1 storm is expected to bring strong winds and flooding when it makes landfall on Friday. It has weakened since causing extensive damage in the northern Philippines.
Earnings: Daimler AG, General Electric, and McDonald’s are among the companies reporting quarterly results.
While you were sleeping
Trump says he’ll respect election results “if he wins.” The Republican presidential candidate has faced a torrent of bipartisan criticism after refusing to honor the outcome of the race. He said at a campaign event that he would contest or challenge “a questionable result,” and repeated allegations the the race was “rigged” against him.
Nintendo unveiled an unconventional new video game system. The Switch, due in March, functions as a portable gaming device and a home console. It plays to Nintendo’s strength in multiplayer gaming, with the company encouraging people to play with their friends.
Verizon is having second thoughts about buying Yahoo. The telecom giant said it may need to renegotiate its purchase due to the “material impact” of a massive Yahoo data breach. Separately, Verizon reported lower quarterly revenues and a decline in subscriber growth.
Syria announced a unilateral ceasefire in Aleppo. The Assad regime said the move, backed by Russia, was intended to allow besieged civilians to seek safety. Rebels rejected the measure as ploy to clear the way for more bombardment.
The ECB didn’t touch interest rates. The European Central Bank kept its benchmark rate at -0.4%, as expected. Though the expiration date for quantitative easing is on the horizon, the ECB left its bond-buying program program alone.
Quartz markets haiku
Insurers are glum.
Travelers slumps, and MetLife
Yanks the ball away.
Quartz obsession interlude
Eshe Nelson on how the the rise of protectionism will hurt stocks: “For decades, stocks have had a ‘globalization premium’ that boosted their prices. Now the slowdown in global trade and rise of protectionist policies could cut into expectations for future corporate earnings, dealing the stock market a nasty wallop.” Read more here.
Matters of debate
Donald Trump is the first candidate of the climate change era. The geopolitical changes caused by global warming will bring more demagogues to power.
Straight men should wear cosmetics. They would look better and appreciate the effort that women make to look “professional.”
The West, along with liberal democracy, is in decline. To restore peace, nations need to strive for greater integration and address concerns about globalization.
Surprising discoveries
Donald Trump’s debate insults were great for Janet Jackson. Streams of her 1986 hit song “Nasty” spiked on Spotify.
Coconut oil is not that healthy after all. The trendy new super food could increase cholesterol and harm the heart.
Scientists might have finally found a cure for the common cold. A new vaccine is showing promising results in animal trials.
De Beers is mining underwater diamonds. A powerful vacuum on the ocean floor near Namibia has found some of the world’s most valuable gems.
Sweden is trying to revive repair shops. It’s offering tax breaks to citizens who fix, rather than replace, broken consumer products.
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