Good morning, Quartz readers!
What to watch for today
A long-awaited decision on airport expansion in London. Will Heathrow or Gatwick get a new runway? Both are currently operating at almost full capacity. Prime minister Theresa May is expected to back a Heathrow expansion, despite loud opposition by locals concerned with noise and pollution.
Apple’s fourth-quarter earnings lose their shine. Revenues from the iPhone have fallen for two straight quarters, and the launch of the iPhone 7 happened too late in the quarter to make much difference. Services from apps, iCloud, and Apple Music may be a bright spot; results from China will also be closely watched.
A ton of earnings. Under Armour is expected to please investors with a 20% rise in third-quarter revenue. Procter & Gamble, DuPont (paywall), and General Motors post their quarterly results, too.
While you were sleeping
Twitter plans to fire hundreds of workers. It could announce the layoffs before an earnings report on Oct. 27, Bloomberg reported. The money-losing company’s share price has fallen about 40% in the past 12 months, making it hard to pay engineers with stock, much less compete for talent. Potential buyers of the company, such as Salesforce.com, have backed away.
The EU held out hope for its Canadian free-trade deal. The EU president Donald Tusk tweeted that he believes there is still time to save CETA, after Monday’s attempts to persuade some small Belgian regions led by Wallonia to back the deal failed and sent the agreement—seven years in the making—into limbo.
Generic competitors dented Novartis sales. The Swiss pharma company’s core net income dropped 4% to $2.9 billion in the third quarter as the patent expired on its blockbuster cancer drug Gleevec and generic competition increased. Sales in its Alcon eye-care division were also down.
Italy’s sickest bank had a good morning. Shares in Monte dei Paschi di Siena—the worst-performing bank in the EU stress tests in July—jumped 21% (paywall) as investors reviewed its latest restructuring plan. The bank, which posted a $1.3 billion loss for the three months ending September, plans to cut 2,600 jobs, close branches, and sell its bad debt.
Gunmen attacked a police training academy in Pakistan. They killed at least 59 and injured over 115 at the center, located in the southwestern city of Quetta in the Baluchistan province. The Pakistan military attributed the assault to Lashkar-e-Jhangvi al-Alami, which has a history of staging attacks in the region.
Quartz obsession interlude
Isabella Steger on the battle between feminism and deep-seated misogyny in South Korea. “Newly-formed online feminist group Megalia’s activism is a bold step in a country where women continue to face discrimination at home, in the workplace, and on the streets. Yet as more women push against deep-set conservative attitudes in Korea, the backlash has been vicious.” Read more here.
Matters of debate
Nobody will admit that the US is fighting in five wars. Politicians and the press are trying to avoid mentioning US military adventures in Iraq, Syria, Yemen, Libya, and Somalia.
Africa wasn’t “rising” before and it’s not “reeling” now. Economic tropes have obscured a diverse and complex continent.
There’s no such thing as a true rebel. We’re all subject to influences, especially when we try to resist them.
Surprising discoveries
Lithuania is that rare country where voters aren’t worried about immigration. Their big fear is emigration.
Climate change is not a new concept. The environmental impact of burning fossil fuels was discussed in 1882.
Your “organic” shampoo is meaningless. There’s no certification process for non-food items.
A Chinese university sells HIV testing kits through a vending machine. The kits cost less than $5 and are sold alongside snacks and drinks at China’s Southwest Petroleum University.
Women are matching men drink for drink. Changing roles of men and women in society has led to drinking parity.
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