California mass shooting, Yahoo bidding war, Japanese buzzwords
Good morning, Quartz readers!
What to watch for today
The US, Japan, and South Korea meet. The countries will discuss how to deal with North Korea’s nuclear program, in the first meeting between the three countries—also involved in six-way talks with Russia, China, and North Korea—since Japan replaced its chief nuclear envoy.
The ECB tries again to jumpstart inflation. The European Central Bank is expected to lower interest rates, which are already below zero, and expand its bond-buying program. The ECB has injected €445 billion ($470 billion) into the economy by buying up public-sector debt.
Vladimir Putin addresses the nation. No details of the Russian president’s annual address have been released; a spokesperson for the Kremlin denied that the talk will focus on the downing of a Russian jet last month.
John Kerry visits Cyprus. The US secretary of state travels to the divided nation, which split along ethnic lines in 1974, to encourage Greek and Turkish Cypriot leaders to continue in UN settlement talks.
FIFA faces the public. Reform committee chairman Francois Carrard will outline proposals to revamp the troubled football governing body at about 1:00 GMT. Major FIFA sponsors have been calling for independent oversight in the wake of a huge corruption scandal.
While you were sleeping
A mass shooting in California. Police responded to a shooting in San Bernardino that killed at least three people and injured 20 more. Up to three suspects are still at large in the assault, which took place at a facility providing social services for people with developmental disabilities.
Bidders lined up for Yahoo. Verizon, IAC, News Corp., and Time Inc. may all be interested in buying Yahoo’s core internet business, after news that the company is considering selling itself for scrap. Once worth more than Amazon, Apple, and Google, Yahoo’s core business is now essentially worthless, based on its stock market valuation.
Janet Yellen is itching for a rate hike. The chair of the US Federal Reserve told the Economic Club of Washington that there is no guarantee of an increase during the central bank’s Dec. 15-16 meeting, but said that she was confident in the US economy and “looking forward” to a hike. Following her comments, Wall Street added to its losses.
Russia and NATO jockeyed for position. Moscow claimed it has proof that Turkish president Tayyip Erdogan and his family were profiting from ISIL oil smuggling, as tensions rise over Turkey’s downing of a Russian jet. Meanwhile, NATO invited the small Balkan nation of Montenegro to join its alliance, and the proposed eastward expansion prompted a harsh response from the Kremlin.
The EU is investigating McDonald’s for tax evasion. The European Competition Commission is look at a deal between the burger chain and Luxembourg to lower the company’s tax bills, Reuters reports. Unions and nonprofits have been pressing regulators to scrutinize the fast-food giant.
Quartz markets haiku
Quartz obsession interlude
Alison Griswold on Uber’s new car-rental program for its drivers. “Essentially, the company is looking at the Enterprise option as a gateway vehicle. Buying a car, after all, is a big investment. … But what if drivers don’t make enough to cover their rental charges?” Read more here.
Matters of debate
Alibaba may be Yahoo’s most sensible suitor. A deal would allow Jack Ma to expand the company’s footprint, at virtually no cost.
Mark Zuckerberg and Priscilla Chan want the same thing as any new parents. They just have mega-billions to make it happen.
Today’s Muslim-Americans are yesterday’s German-Americans. History has taught the United States nothing about stigmatizing its “hyphenated” citizens.
Surprising discoveries
Japan has a word for an “explosive shopping spree by the Chinese.” Bakugai is the buzzword of the year.
Nearly three-quarters of Estonia’s doctors are female. And Eastern Europe on the whole has the highest proportion of women working in healthcare.
There are multiple species of blue tarantulas. Scientists can’t explain the evolutionary rationale behind the unusual color.
Cracking knuckles makes carbon dioxide bubbles explode. Researchers saw “a brilliant hyperechoic flash” when they watched via sonogram.
There’s a mathematical model to predict how funny a word is. One factor is how many “improbable letters” it contains.
Our best wishes for a productive day. Please send any news, comments, blue arachnids, and mathematically-proven hilarity to [email protected]. You can follow us on Twitter for updates throughout the day.