Good morning, Quartz readers!
What to watch for today
Donald Trump and Mike Pence hash out a government. The president-elect and vice president-elect will get together at Trump Tower in New York to review possible picks for cabinet and senior White House positions. Trump has drawn fire for appointing alt-right media executive Steve Bannon as his chief strategist. Insiders described the debate over building the new cabinet as a “knife fight.”
News about US shopping habits. The Commerce Department releases October retail sales data. Economists predict a rise of 0.6% from September, the same as September’s increase over August. That would bode well for the US economy and holiday shopping.
Home Depot’s earnings. The big-box retailer goes first—Target and Lowe’s will report their earnings as the week goes on—with analysts expecting to see growth at the superstore in the past three months.
While you were sleeping
Rudy Giuliani said Trump will make defeating ISIL a priority. The former mayor of New York—tipped to become secretary of State—said that (paywall) the president-elect would put off tackling other problems in the Middle East to first destroy the Islamic State. He also said Trump wanted to reset the US’s relationships with China and Russia.
Google and Facebook took on ”fake news.” Google said on Monday that it would prevent websites that peddle fake news from using its online advertising service, and Facebook similarly banned them from its ad network. Some disgruntled Facebook employees have reportedly formed a secret task force on the problem after CEO Mark Zuckerberg dismissed the idea that fake news tipped the election.
British inflation was surprisingly deflated. The UK’s consumer price index rose by just 0.9% in October, compared to 1.0% in September. Bank of England governor Mark Carney is preparing to testify to lawmakers today about the inflation outlook for the UK; the central bank shelved plans to cut interest rates earlier this month.
Europe was good for Vodafone. The British mobile-phone company beat estimates with a 4.3% rise in first-half core earnings thanks to healthy German and Italian markets. Overall, however, it reported an operating loss of €4.7 billion ($5 billion), after absorbing a €5 billion write-down on its Indian business.
Brexit was bad for the German economy. GDP grew by just 0.2% (paywall) in the third quarter, down from 0.4% in the previous quarter, due to falling exports and rising imports—and to the slump in the pound, which has made German goods less competitive in the UK. Domestic consumption is now the most important source of growth; Germany is enjoying its lowest unemployment in decades.
Quartz obsession interlude
Jason Karaian on how you could get rich with the imaginary Quartz hedge fund of Trump trades. “We made all the best trades. Over the past five days, our portfolio has gained 14%, crushing the 1.2% performance of the S&P 500—which is for losers—over the same period. Annualized, that’s a 70,000% return (give or take).” Read more here.
Matters of debate
Trump has no idea what he is in for. The president-elect seems overwhelmed by his long list of duties.
India’s demonetization has hurt the fight against smog. Discussions about Delhi’s polluted air took a backseat to the chaos caused by the withdrawal of banknotes from circulation.
The US must continue to be “a beacon of hope.” So says Barack Obama, its soon-to-be former hope-peddler-in-chief.
Surprising discoveries
Birds have musical preferences too. An artist has teamed up with computer scientists to create a birdsong recommendation machine.
How do you taste something in virtual reality? Hook some electrodes up to your face.
Dementia is now the biggest killer in England and Wales. It’s the result of an aging population and advances against heart disease.
An airline pilot told his passengers to shut up about Donald Trump. He asked them to not bring up politics because “we’re going to be in a metal tube at 35,000 feet.”
Ever seen a rock that looks like a face? Japan has a museum full of them.
Our best wishes for a productive day. Please send any news, comments, Trump trades, and face-shaped rocks to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our iPhone app.