Good morning, Quartz readers!
What to watch for today
The world’s biggest shopping holiday aims to beat its own record. Last year, $13.5bn worth of goods changed hands on Alibaba Singles Day, and the Chinese e-commerce giant kicked things off with a bang this year—over $1bn of sales were posted in the first five minutes after midnight. The company hopes intense marketing will offset slowing growth in users and the value of goods sold on its platform.
The Bank of Korea is expected to hold interest rates steady. Experts reckon the bank will keep rates at a record low of 1.25% to maintain construction-driven growth, but they could drop in the new year. The country has been roiled by scandals as Samsung, its biggest conglomerate, struggles with an exploding phone fiasco and is investigated in a corruption scandal involving president Park Geun-hye.
India’s 500 and 1,000 rupee notes leave circulation for good. Prime minister Narendra Modi took the notes out of the system in a surprise anti-corruption move this week, but is letting toll plazas, private hospitals, clinics, and chemists accept them until midnight. Consumers still have a few weeks to deposit the notes at banks or post offices.
While you were sleeping
Donald Trump met with Barack Obama… The 90-minute Oval Office sit-down was “at least a little less awkward than some might have expected,” a White House spokesman said. Trump called it a “great honor” to chat with the president, while Obama claimed to be “encouraged” by the discussion about January’s transfer of power.
…and finally called Theresa May. Whitehall wonks were biting their nails over the decline of the “special relationship,” as the president-elect phoned nine world leaders ahead of the British prime minister. He invited May to visit the US “as soon as possible.”
Russia has been in touch with Trump’s entourage for quite a while. So says senior Russian diplomat Sergey Rybakov, though there are questions whether this is yet more Kremlin trolling. Trump has denied any contact with Moscow, and an FBI investigation reportedly didn’t find any proof of a link.
The Trump transition team announced plans to deregulate banking. The administration vowed to dismantle the Dodd-Frank Act, much hated by Wall Street. The campaign is also reportedly considering JPMorgan CEO Jamie Dimon as Treasury secretary.
Jacob Zuma weathered a no confidence vote. South Africa’s president has defeated three such votes this year, but criticism has been growing within his own party after a fresh round of corruption allegations. Earlier this year, he had to repay $500,000 to the public, after using state funds to upgrade his house.
Quartz markets haiku
Need a metaphor
For today’s new world order?
Wells Fargo: Way up.
Quartz obsession interlude
Heather Timmons on a rash of racists attacks that have broken out in the US. “In his acceptance speech on Nov. 9, US president-elect Donald J. Trump made a pledge of unity, promising to be a leader for ‘all Americans.’ But some of his supporters have not heard that message. Read more here.
Matters of debate
Housewives are collateral damage in India’s fight against money hoarding. Stashes of cash, hidden from their husbands, are their key to financial independence.
Africans no longer aspire to the American Dream. Trump’s victory is sending the message that they are no longer welcome.
Western civilization is a modern myth. Values such as freedom and liberty cannot be confined to one culture.
Surprising discoveries
Rats love to be tickled—but only when they’re in the right mood. They also do something delightful called joy jumps.
Chinese fans are blaming Clinton for a canceled Katy Perry gig. They think she is heartbroken over the election.
A heart on a chip could replace animal testing. A small 3D-printable device contains heart tissue and measures its reactions to cardiac drugs.
Finland wants an emoji for sitting in a sauna. It’s also lobbying for icons for fuzzy socks, a heavy metal headbanger, and a girl flexing her muscles.
Americans were sleep deprived on Tuesday night. Data from 10 million fitbits show that users slept 30 minutes less than average.
Our best wishes for a productive day. Please send any news, comments, rodent tickles, and sauna emoji designs to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our iPhone app.