Good morning, Quartz readers!
What to watch for today
Germany takes over the G20 presidency. It’s the first time Germany has headed the group, which represents more than 80% of the world’s economic activity. Chancellor Angela Merkel wants to strengthen global trade and tackle climate change, but she’ll likely face opposition from Donald Trump.
The US auto industry releases November sales numbers. They dropped 6% in October, but Black Friday buying should bring a boost, as carmakers look for another year of record sales.
Wisconsin starts its presidential recount. Green party candidate Jill Stein requested the reexamination of ballots, and Hillary Clinton’s campaign is also taking part, even though almost no one expects the result to change. Stein is also demanding a recount in Michigan, which Donald Trump won by a narrow margin.
While you were sleeping
Oil prices kept on rising. After OPEC surprised many yesterday by agreeing to its first output reduction since 2008, crude prices jumped more than 10%. They extended their gains (paywall) across global markets on Thursday. Brent crude was up another 1.2%, and shares rose in Royal Dutch Shell and BP.
Fitbit made a move on a smartwatch pioneer. It’s reportedly close to acquiring Pebble, which would allow it to expand its product portfolio. While Pebble has raised more than $40 million through Kickstarter, including $20 million for its Pebble Time watch, the startup has had a tough year—it laid off 25% of its staff in March.
Eurozone manufacturers had a strong November. It was their best month since January 2014, with a weaker euro—it fell more than 5% against the dollar last month—and higher demand pushing the Markit PMI to 53.7. Powerhouse Germany saw its own PMI down slightly from the month before, but still at a robust 54.3.
Glencore’s dividend news pushed its share price up 3%. The world’s biggest commodity trader said it will reboot its dividend payments, starting with a $1 billion payout next year, after the successful completion of its drastic debt-reduction program. The Switzerland-based company has seen its share price triple this year.
China slapped a whopping tax on super cars. High-end imported cars were already subject to a 35% import tariff. Now an additional 10% tax will be imposed on vehicles costing more than $190,000. It’s part of president Xi Jinping’s drive to promote “rational consumption.”
Quartz obsession interlude
Max de Haldevang on Donald Trump’s attempts to resolve his conflicts of interest: “His empire is just too sprawling, his web of connections too extensive, for him to take himself completely out of the firing line in the short period between election and inauguration. A better question is whether he can do it over the course of a four-year term.” Read more here.
Matters of debate
Facebook shouldn’t fact-check the news. Giving the company editorial power would be “unprecedented and dangerous” (paywall).
China has failed at sex education. The country has skyrocketing HIV transmission rates.
An entire global generation has lost faith in democracy. Millennials are increasingly open to military rule.
Surprising discoveries
Fidel Castro moonlighted as Gabriel García Márquez’s editor. He regularly reviewed the author’s manuscripts.
Magic mushrooms can help cancer sufferers. A single dose of their active ingredient psilocybin can help reduce anxiety about dying for up to six months.
Space travel requires a better astronaut diaper. NASA is offering a $30K prize for a device to collect urine and feces over a six-day period.
A backup copy of the internet is moving to Canada. The Internet Archive is wary of the next US president.
You’ll soon be able to get high on Hunter S. Thompson’s favorite weed. His widow extracted DNA from his preferred strains.
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