Good morning, Quartz readers!
What to watch for today
The tech world takes its flashiest gadgets to Las Vegas. Tech fans at the Consumer Electronics Show can expect to see radical new drones and self-driving cars whizzing around Sin City’s conference halls. Quartz’s Mike Murphy and Dave Gershgorn are covering the event.
Pakistan’s prime minister is back in court over the Panama Papers. The political opposition alleges that three of Nawaz Sharif’s children used ill-gotten money to buy real estate in London. The Panama Papers leak revealed that Sharif’s family owned at least three undeclared offshore companies.
The Fed releases its December meeting report. The minutes of last month’s meeting, when the Fed raised interest rates for the first time in a year, will be scrutinized for signs of upcoming monetary policy moves, including whether it intends to raise rates again this year.
While you were sleeping
The euro zone had a busy December. Business activity increased at the fastest pace in more than five years, according to the latest Markit PMI. Both manufacturers and service sector companies enjoyed the benefits of a weaker euro, which boosted demand for goods and services. Markit’s chief business economist noted (paywall) that ECB stimulus and rising employment across the euro zone were also powering growth.
Donald Trump accused US intelligence agencies of stalling. The president-elect tweeted that he found it “very strange” that an intelligence briefing on the “so-called Russian hacking” recently revealed by the FBI had been delayed until Friday (paywall). But a US official said the briefing had always been planned for Friday, and would first need to be presented to president Barack Obama before it was shared with Trump.
Narendra Modi’s demonetization policy dented Indian growth. A Wednesday report from the Nikkei India Services PMI showed a score of 46.8 (scores under 50 denote a contraction) in the country’s all-important services sector for the second month in a row. Analysts say that the currency shortage enforced by Modi’s administration will cause a slowdown in Asia’s third largest economy. Five state elections in the next two months will reveal what people think of the radical cash ban.
Rex Tillerson agreed to cut all ties with Exxon. Trump’s pick for US secretary of state will sell more than 600,000 shares in the company if confirmed. He stepped down as the oil giant’s chairman and CEO on Jan. 1, forsaking millions in bonuses and other perks.
Gunmen staged a huge jailbreak in the Philippines. More than 150 inmates escaped and a guard was killed as suspected Islamist separatists attacked a jail in the southern Philippines in order to free some Islamist rebels. A prison official said it was the biggest jailbreak in the country’s history.
Quartz obsession interlude
Oliver Staley on the best and worst ways to quit your job: “Quitting a job isn’t the most popular New Year’s resolution, but many of us have had fantasies about starting another year by leaving the office forever, perhaps in a blaze of glory… The folks in HR don’t generally recommend it.” Read more here.
Matters of debate
New US quarantine rules pose a serious threat to civil liberties. The Centers for Disease Control and Prevention can now detain people without due process.
The 401(k) is a disappointment. The retirement savings account’s early backers never intended for it to replace pensions (paywall).
All money is dirty. The disease-carrying bacteria on cash means there’s a public health argument for a cashless economy.
Surprising discoveries
It’s “Fat Cat Wednesday” in the UK. The country’s top executives will have made more money by lunchtime that the average British worker will earn all year, according to the High Pay Center.
US Navy-trained dolphins are on a mercy mission. They must locate the last few dozen of Mexico’s endangered vaquita porpoises so they can be saved from extinction.
The Disney classic “Bambi” has a racist history. Tyrus Wong’s artistic vision shaped the movie, but he did not receive credit due to anti-Asian bias.
The Chinese government is ending a 2,000-year monopoly on salt. New regulations mean private companies can finally enter the market.
You should never, ever use cotton swabs to clean your ears. Earwax, also known as cerumen, keeps ears from getting dirty in the first place.
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