Quartz Daily Brief—China bank deposits, UN climate talks, Sarkozy’s back, twins
Good morning, Quartz readers!
What to watch for today
China is planning a bank-deposit insurance system. Look for market reaction after the People’s Bank of China introduced draft rules on an insurance system for bank deposits of as much as 500,000 yuan ($81,367). State media have suggested the new system—which removes the implicit government guarantee behind all deposits—could begin in early 2015.
Investors are watching the Swiss franc. The markets get a chance to react to Switzerland’s referendum on whether to force the country’s central bank to more than double its gold reserves, and whether to end a 152-year-old tax break for rich foreigners. The country also voted on whether to cap immigration.
Key talks around the world. UN climate talks featuring negotiators from more than 190 countries are meeting in Lima. Russia’s Vladimir Putin arrives in Turkey, soon after the pope made his first visit to the predominantly Muslim nation. Meanwhile, French president Francois Hollande meets Spanish prime minister Mariano Rajoy in Paris.
Global economic data. In Asia, look for more fallout from the Occupy protests in the form of the latest monthly retail sales figures from Hong Kong. South Korea also releases its latest trade report. In Europe, Italy reveals its third-quarter GDP and in the UK, there’s mortgage approval and Halifax house-price data.
Over the weekend
Murder charges against Hosni Mubarak were dropped. A judge dismissed a case against the former Egyptian president, who had been charged in the deaths of hundreds of protesters during the street protests that deposed him in 2011. In protests following the verdict, one person was killed, nine were injured, and more than 40 were arrested.
Nicolas Sarkozy is back in the game. The former French president was elected head of the opposition UMP, trouncing his rivals with 64.5% of the vote. His comeback comes 10 years after he first won the same position, from where he went on to become France’s president. But Sarkozy’s advisors wanted at least 70% of the vote (link in French).
Ferguson police officer Darren Wilson resigned. The officer who shot and killed the black teenager Michael Brown in August cited safety concerns for other officers and the community as the reason, telling the St. Louis Post-Dispatch, “I’m not willing to let someone else get hurt because of me.”
Taiwan’s premier resigned after political setbacks. Jiang Yi-huah made the announcement after Taiwanese voted overwhelmingly against his Kuomintang (KMT) party in the over 11,000 contested local elections, showing widespread dissatisfaction with the ruling party’s economic management and emphasis on closer ties with China. The KMT lost the mayoral race in Taipei for the first time in 16 years.
Suicide bombings killed 30 in Kobani. Four ISIS suicide bombers detonated bombs across the town at the border of Syria and Turkey. One of the attacks, involving a bomb-loaded armored vehicle, was at a border crossing, prompting accusations that the attack was launched from Turkish soil. Turkey denied charges that the vehicle had crossed from its side.
Quartz obsession interlude
Julia Bolton Holloway on why she’d rather teach illiterate Roma than Ivy Leaguers. “I have taught university students at Berkeley, Princeton, and Boulder. I prefer teaching illiterate Roma, all ages, and learning from them the richness of their culture, the excellence of their skills, and the strength of their families.” Read more here.
Matters of debate
Uruguay’s Sunday election was a game-changer for marijuana. It was the world’s first nation to legalize its production and sale.
Europe is becoming more xenophobic. And it’s threatening the fabric of the bloc
Learning to code? Choose one language to learn. JavaScript, Ruby, or Python.
Tennis players are hurting their legacies chasing Asian money. A new tennis league draws direct inspiration from cricket.
Thank Jabba, George Lucas didn’t make the new Star Wars film. If he had, this is what the teaser would have looked like.
Surprising discoveries
If you spoke another language as a child… you probably still can.
Future space missions may be powered by poop. Researchers have found a way to turn human waste into biogas.
James Watson is selling his Nobel Prize. The reserve price for the medal is $2.5 million.
ISIL wants its fighters to eat pancakes. They think their recipe helps the “the energy and power of the Mujahideen.”
Twins are bad for the economy. There’s a doubling of health care and education costs.
Click here for more surprising discoveries on Quartz.
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