Quartz Daily Brief—”The Interview” canceled, China’s property slump, Putins’ marathon Q&A, Cuba’s Gitmo rent
Good morning, Quartz readers!
What to watch for today
Putin’s state-of-the-nation. The Russian president is giving his annual press conference to 1,200 journalists. So far he has touted Russia’s diversified economy, championed innovation, and called for an end to using the law for political means.
Cuba presses for an end to the US trade embargo. President Raul Castro is calling for an end to the 54-year-old ban as his country and the US moved toward restoring diplomatic ties. But Republicans in Congress have vowed to maintain the embargo, and to also block the nomination of any US ambassador to Havana.
Nike’s numbers. Analysts expect double-digit percentage growth (paywall) for fiscal second-quarter revenue and earnings, as the athletic goods giant tries to expand in Adidas’ home turf of Western Europe, and fend off basketball shoe competitors.
The Serial finale. The last installment of the true-crime podcast will be released, with fans waiting on tenterhooks to find out whether the convicted murderer of a high-school girl really did the deed. Here’s a guide to the theories.
While you were sleeping
Sony Pictures canceled The Interview. The studio pulled the North Korea-themed comedy’s planned release following terrorist threats against theaters and a devastating hacker attack that leaked reams of sensitive company data. Anonymous US officials told US news outlets that North Korea directly ordered the hacks, but some say the evidence is thin.
Samsung’s de facto holding company had a mega-successful IPO. Cheil Industries more than doubled its market capitalization as it raised 1.52 trillion won ($1.38 billion). The IPO will help the family of ailing CEO Lee Kun-hee consolidate control of Samsung’s sprawling empire as the company prepares for a generational power transfer.
China’s property slump deepened. New home prices fell by 3.7% in November (paywall) from a year earlier, compared with a 2.6% fall in October. Chinese real estate companies have been cutting prices and ramping up promotional efforts in an attempt to maintain sales volume.
A suspected Boko Haram attack killed 33 people. Dozens were also abducted in the raid by militants in northeast Nigeria. Separately, a Nigerian court sentenced 54 soldiers to death for mutiny and cowardice, for allegedly refusing to fight the extremist group.
Welcome relief in Germany. The national business climate index rose slightly in November, suggesting an improvement in morale after the economy narrowly dodged a recession in the third quarter.<
Switzerland cut rates below zero. The central bank introduced a negative deposit rate to stem the flow of money flooding into the country. Amid global economic jitters, the safe-haven Swiss franc has appreciated against the euro, butting against the ceiling set by the Swiss central bank.
New Zealand’s cows boosted GDP. Expanding dairy production and manufacturing pushed third-quarter economic growth to 3.2% (paywall). Quarter-on-quarter growth was 1%, above an expected 0.7%.
Quartz obsession interlude
Zainab Mudallal does some digging on Cuba’s tourism industry. “The latest data from the World Bank shows that Cuba saw roughly 2.8 million international tourist arrivals in 2012, up from 2.5 million in 2010. That’s more arrivals than Iceland, Cyprus, Ecuador, New Zealand, Qatar, and Costa Rica, to name a few.” Read more here.
Matters of debate
Don’t bemoan the end of the “authentic” Cuba. It’s code for fetishized poverty.
Sony should sell The Interview to Netflix. The upstart video streaming company is perfectly placed to save the day.
The definition of “job” changed this year. We no longer see it as a dependable relationship.
The West shouldn’t wreck Russia’s economy. If sanctions dislodge Vladimir Putin, someone worse could take his place.
Surprising discoveries
Cuba is owed back rent for Gitmo. It has refused to accept US payments, but normalized relations may change that.
Thinking reduces confidence. We become less sure of our choices the longer we consider our options.
Breathing burns fat. Your body breaks it down into water and carbon dioxide during exercise.
A Texas plumber’s truck ended up in a Syrian war zone. He’s been getting angry calls from confused customers.
Japan is running short of butter. Cows in Hokkaido are reportedly stressed out by global warming.
Click here for more surprising discoveries on Quartz.
Our best wishes for a productive day. Please send any news, comments, surplus butter, and Cuban cigars to [email protected]. You can follow us on Twitter here for updates throughout the day.