Quartz Daily Brief—New Bond film, a bitcoin sale, Ukraine’s nuclear accident, gingerbread real estate
Good morning, Quartz readers!
What to watch for today
What’s going to happen to the euro? The European currency hit a two-year low on Wednesday, a likely topic of discussion when the European Central Bank convenes today for a policy meeting. Economists predict an announcement will be made on the purchase of government bonds.
The ultimate test drive. NASA will test the Orion spacecraft—the ship that will eventually carry humans to Mars. Today’s test will send the vehicle up only 3,600 miles, but when it returns to Earth, it’ll reach speeds of 20,000 miles an hour—the speeds NASA expects ships coming home from deep space will hit.
50,000 bitcoins go on sale. Technically it’s an auction—and the bitcoins were once owned by the people who operated the illegal drug trading website “The Silk Road.” US Marshals aren’t likely going to make more than the going rate for the coins, roughly $18.9 million. There will be future auctions, too, since authorities will still have roughly 94,000 seized bitcoins remaining.
The second Lufthansa strike this week. Europe’s largest airline announced yesterday that it will cancel nearly half its long-haul flights as the pilots’ union announced its 10th strike of the year—this one between 02:00 and 23:00 GMT today. The pilots object to the airline’s plan to phase out an early-retirement option.
Bond. James Bond. Despite all the terrible news to come out of Sony as of late—the latest being that North Koreans hacked their computer systems—the company announces today the details of the 24th Bond film. It has promised fans of the debonair British super-spy the title of the movie, as well casting details.
While you were sleeping
Sweden said it will hold a snap election. Stefan Löfven—the country’s prime minister—announced the news after his cabinet’s budget proposal was rejected. The elections, due to be held on March 22, will “let voters make a choice in the face of this new political landscape,” said Löfven.
Honda announced a nationwide air bag recall in the US. Honda has already recalled 3.5 million cars with Takata air bags, but now it is expanding the program to all 50 states, despite a parts shortage (paywall). Takata itself was told by the US National Highway Traffic Safety Administration to issue a nationwide recall by Dec. 2—but it refused to do so.
A Ukrainian nuclear reactor accident was deemed not a threat. That’s what the country’s energy minister said during a press conference where he announced a short circuit at the 1,000-megawatt Zaporizhzhya facility, Europe’s largest power plant. The issue is with a generator, not the reactors, he said, and rolling blackouts throughout the country are expected to end by Friday. Still, the news spooked European markets.
Britain said its economy will do better than expected today, but worse tomorrow. In the treasury’s annual “Autumn Statement,” chancellor George Osborne said 2014 GDP growth will come in at 3.0% instead of 2.7%, and 2015 will see 2.4% growth instead of 2.3%. However, this spurt will result in somewhat slower growth in later years, with forecasts trimmed to between 2% and 2.5%. The chancellor reckons he can balance the budget in 2018—the deficit is expected to come in at £91.3 billion ($143 billion) this year.
Israel dissolved its parliament. Lawmakers voted 84-0 to dissolve the Knesset, an initial step toward holding elections two years early. Another vote next week could seal the deal. The move comes after prime minister Binyamin Netanyahu’s ruling coalition collapsed as he fired two of his cabinet ministers, saying their criticism made it “impossible to lead a state.”
Quartz obsession interlude
Gwynn Guilford on China’s newfound banking insurance. “It’s kind of amazing that China’s gone as long as it has without a major bank run. That’s largely thanks to the Chinese government’s hands-on omnipresence in the financial system. The big thing those hands do is push deposit rates below market rates, in effect forcing savers to subsidize bank cheap loans, usually to state-backed companies. While this has stymied household consumption, the resulting investments have powered more than a decade of double-digit growth.” Read more here.
Matters of debate
Saudi Arabia is using the price of oil as a weapon. Its target is Iran.
Bombs and tanks aren’t going to destroy ISIL. Paranoia and its hardline politics will.
Europe’s inflation “problem” isn’t a problem at all. The ECB needs to recalibrate its expectations (paywall) and not hurt the European economy with broken policies.
Stop doubting emerging economies. China is still growing and all this cheap oil will do wonders.
The skills that were once lost will make a comeback. Good old manufacturing will bring prosperity back to America’s once-great cities.
Surprising discoveries
There’s a simple trick to controlling weight gain. Fast for 12 hours—daily.
Planes, trains, and automobiles are not the leading cause of greenhouse gas emissions. It’s actually livestock.
Giraffes are going extinct. And no one is noticing.
You may have to pack light for the upcoming holidays. There’s talk of banning carry-on bags because of the threat of terrorism.
Gingerbread real estate can be a major investment. Rubies and pearls made this gingerbread house come in at $77,910—shipping not included.
Click here for more surprising discoveries on Quartz.
Our best wishes for a productive day. Please send any news, comments, rockets, and precious stones to [email protected]. You can follow us on Twitter here for updates throughout the day.