New Year’s nervousness, Europe’s refugee milestone, elephant seal traffic
Good morning, Quartz readers!
What to watch for today
Uneasy New Year’s Eve preparations. Fearing a repeat from last year’s deadly stampede, Shanghai authorities have cancelled traditional celebrations. Festivities and fireworks were also called off in Brussels, due to an unspecified terror threat.
François Hollande speaks to a nation on edge. Following a fraught year for the country that experienced several deadly terrorist attacks, the French president will make a televised year-end address. The speech comes as Hollande is under fire for his proposal to strip French-born convicted terrorists of their citizenship.
Markets ring their final bells in 2015. Markets in Europe will be closed for at least half the day, and the US bond market will shut down at 2 pm. The Standard & Poor’s 500 index is on track to ring in 2015 right where it started, in the worst year for the US stock market since 2011. Europe’s year was also disappointing, while China’s turbulent year is ending with a 12% rise.
The last US unemployment data of the year. With the unemployment rate at a 7-year low, economists expect the latest four-week moving average to be a relatively modest 272,500.
While you were sleeping
Bill Cosby was charged with felony sexual assault. Prosecutors say the comedian drugged and raped a woman in 2004; he was released on $1 million bail, just days before the statute of limitations expired. Dozens of women have accused the 78-year-old of sexual assault.
Iran fired “highly provocative” rockets near western ships in the Strait of Hormuz. The US says several rockets landed within 1,500 yards (1.4 km) of US and French naval vessels that are part of a military coalition against ISIL, along with several commercial ships. Iran declined to comment, but local media described the launch as a standard training procedure.
Apple settled its Italian tax dispute. The company will pay €318 million ($348 million) to settle allegations it avoided taxes by stashing profits in Irish subsidiaries. Prosecutors originally asked for more than €800 million, but CEO Tim Cook reportedly negotiated a lower fine with Italy’s prime minister.
Europe hit a major milestone for migrants and refugees. More than 1 million people crossed the Mediterranean Sea to reach Europe this year—a five-fold increase from 2014—according to the UN’s refugee agency. Nearly half of them were from Syria; 3,735 people died or went missing during the attempt.
Quartz obsession interlude
Anne Quito on Louis Vuitton. “The iconic LV monogram with the Japanese-style flowers and quatrefoils was introduced in 1896…the custom step-and-repeat geometric motif was meant to be the brand’s most unique and distinguishing pattern. Ironically enough, the monogram pattern has become one of the most replicated branding insignias today—from cheap iPhone cases to waffle makers to body tattoos—as a graphic shortcut for luxury and wealth.” Read more here.
Markets haiku
Just trying to tread water
Can’t light gas, boil oil
Matters of debate
It’s still better to be fat and fit than thin and unfit. Just being fat won’t kill you.
Don’t blame tech companies for San Francisco’s housing crisis. Progressive “housing advocates” are the ones making matters worse.
Airline luggage fees are actually pretty good deals. Travelers should be paying even more per bag.
Surprising discoveries
Crows may be smarter than chimpanzees. At least when it comes to using tools.
Why did the 900-pound elephant seal cross the road? Authorities aren’t sure, but it snarled California highway traffic for two whole days.
Belgian police reportedly had an orgy during the manhunt for the Paris attackers. They were in close quarters during the city’s terror lockdown.
Neurosurgeons are experimenting with hypnosis as an alternative to anesthesia. Modern patients may benefit from old-fashioned trances.
Some made-in-China toy planes have an unusual defect. Instead of making flying noises, they broadcast an Islamic prayer.
Our best wishes for a productive day. Please send any news, comments, animal tools, and religious toy planes to [email protected]. You can follow us on Twitter for updates throughout the day.