Good morning, Quartz readers!
What to watch for today and over the weekend
Rallies in Egypt. Demonstrators could take to the streets today as part of the “Ghalaba Movement” (or “Marginalized Movement”) to protest the state of the economy and shortages of basic goods. Some accuse the Muslim Brotherhood of financing and sponsoring the movement. Authorities have been arresting militants suspected of inciting the protests.
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.
The University of Michigan releases a key reading of US consumer sentiment. Its preliminary November survey report is an important gauge of shoppers’ mood heading into the holiday season (paywall).
While you were sleeping
Alibaba notched $7 billion in transactions during the first two hours of its Singles’ Day sales blitz. That was about half the total for the entire day of last year’s spree. The 24-hour online shopping event encourages consumers without a partner to treat themselves.
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.”
The Trump transition team announced plans to deregulate banking. The administration vowed to dismantle the Dodd-Frank Act, much hated by Wall Street. The team is also reportedly considering JPMorgan Chase CEO Jamie Dimon as treasury secretary.
The Bank of Korea held its interest rates steady. As expected, South Korea’s central bank keep rates at a record low of 1.25% to maintain construction-driven growth. The country has been roiled by an influence-peddling scandal involving president Park Geun-hye and by massive product recalls at Samsung.
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 racist 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 the pop star is heartbroken over the election.
Obamacare sign-ups had a record day after US election night. On Nov. 9 more than 100,000 people signed up for coverage under the Affordable Care Act, which Trump has pledged to repeal.
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 (paywall).
Our best wishes for a productive day. Please send any news, comments, joy jumps, and sauna emoji designs to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our iPhone app.