Good morning, Quartz readers!
What to watch for today
In the UK, the verdict on Parliament’s Brexit powers… The High Court will rule on a challenge from campaigners who say the prime minister doesn’t have the power to formally being the process of exiting the EU. During the case, lawyers have referred to precedents including Henry VIII, the 1689 bill of rights, and a 1892 treaty with France.
…and interest rates. The Bank of England will announce its latest decision, which comes as the Brexit vote hasn’t affected the economy as badly (paywall) as many had feared and governor Mark Carney said he will leave in 2019.
China’s most powerful rocket booster launches. The Long March 5′ s maiden flight is expected to last slightly over 20 minutes. It is designed to be a workhorse launch vehicle for commercial satellites, space station modules, and deep space probes.
While you were sleeping
Adidas shares took a tumble. Revenue at the German sportswear company rose 14% to $6 billion in the last quarter, but its 12% increase in operating profit, dented by currency swings and in-store spending, disappointed investors; shares dropped by almost 4%, the most in four months.
Viacom outbid Time Warner to acquire Telefonica’s Telefe. The cable network company, which owns MTV and Comedy Central, is reported to have bought Argentine broadcaster Television Federal for $400 million. The acquisition, if it gets regulatory approval, will help boost Viacom’s international reach and offset waning subscriptions in the US.
Credit Suisse’s overhaul began to show results. The Zurich-based bank reported a surprise net profit of $42.2 million (paywall) in the third quarter. Since CEO Tidjane Thiam instigated a radical overhaul last year, the bank has cut over 5,000 jobs, cut back on its securities business, and expanded its wealth-management business in Asia.
Egypt announced plans to float its currency. The central bank’s decision to allow its pound to float and devalue it against the dollar is an attempt to crack down on the black market for dollars (paywall) and boost investor confidence—in the doldrums after years of political turbulence. Floating the pound is likely to qualify Egypt for an $12 billion loan from the IMF.
Yes, the Chicago Cubs won the World Series. The perennial losers beat the Cleveland Indians 8-7 in 10 innings to seize the world’s top baseball crown for the first time in 108 years. Ben Zobrist was the man who broke the century-long losing streak, hitting the 10th inning double.
Quartz obsession interlude
Adam Freelander on the fate of the Republican Party after Nov. 8. “Even a landslide loss for the party in the Nov. 8 elections would not seriously hurt the GOP—and might even be good for it. That’s because, contrary to what seems obvious, national elections aren’t actually a good reflection of a political party’s trajectory.” Read more here.
Matters of debate
Stop blaming obesity on willpower. Research says it has little to do with diet or exercise (paywall).
Faith in technology is the new key to happiness. Technological progress has replaced religion as an elixir for joy.
Supermarkets are for old people. Millennials would rather eat at restaurants or buy their groceries at convenience stores.
Surprising discoveries
Fearing a Trump presidency, gold is rising. The price of gold bullion—seen as a safe haven for investors—rose to a one-month high of more than $1,300 an ounce.
Pond scum carries the secret to eternal life. A Nobel Prize-winning scientist is studying an enzyme common in algae that rebuilds damaged cells.
The US government wants to know how much Nutella you eat. Regulators need to determine whether it’s a dessert topping, or a snack in its own right.
There’s a planet that looks just like ours. But it’s bigger, hotter, and rains down molten glass.
Scientists created a chain-smoking robot to test lung disease. It features a “lung on a chip” to study chronic obstructive pulmonary disease.
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