Quartz Daily Brief—Xiaomi’s $45B valuation, Tunisia’s election, NYC policemen murdered, cat collateral
Good morning, Quartz readers!
What to watch for today
A final result in Tunisia. Beji Caid Essebsi, the 88-year-old leader of the secular Nidaa Tounes party, is already claiming victory in Sunday’s presidential election, though incumbent Moncef Marzouki has refused to concede defeat. Essebsi is seen as a return to the ancien régime whose economic mismanagement set off the Arab Spring in 2011.
Xiaomi closes in on a new valuation. A $1 billion funding round would value the Chinese smartphone maker at $45 billion (paywall)—more than four times what it was worth 16 months ago, according to the Wall Street Journal. The new funding round’s lead investor is the All-Stars Investment fund, run by former Morgan Stanley analyst Richard Ji.
Airbus launches the A350. The European aircraft manufacturer will deliver its latest fuel-efficient long-range plane (paywall) to its first customer, Qatar Airways, in a ceremony in Toulouse, France.
Nicaragua breaks ground on its inter-oceanic canal. The Chinese-funded rival to the Panama Canal has not released any information about its finances or environmental impact, and locals are fearful they will be evicted. The two governments are pushing ahead with the $50 billion project anyway.
Over the weekend
“Allahu Akbar” attacks in France. A driver shouted “God is Great” in Arabic as he ran down pedestrians in the city of Dijon, injuring 11 people. French media reported the man was “apparently imbalanced” and had spent time in a psychiatric hospital. A man shouting the same phrase was shot dead by French police on Saturday after he attacked them with a knife.
New York City’s police entered siege mode. The NYPD directed police to travel in groups (paywall) and reinforced police station defenses after a gunman killed two officers on Saturday, and senior police officials said mayor Bill de Blasio—who campaigned on promises to reform the police department—had “blood on his hands.” Ismaaiyl Brinsley, a Brooklyn native with a lengthy rap sheet, had vowed on Instagram to kill police in retaliation for the death of unarmed black men in New York and Missouri.
China began building a military base near the Senkaku/Diaoyu islands. The base on China’s Nanji islands includes several landing strips and will contain several more in the future, according to Japan’s Kyodo newswire, which cited unidentified Chinese sources. The new base puts China’s military 100 km (62 miles) closer to the contested area than Japan’s armed forces.
Germany’s real wages jumped by the most in three years, climbing 1.8% in the third quarter versus a year ago, as nominal wages outpaced inflation. That’s good news for policymakers looking to private consumption for an economic boost.
South Korea cut its outlook. The government said it expects its economy to grow 3.4% this year (paywall), from earlier estimates of 3.7% growth, due to weaker private investment and consumer spending. It also cut next year’s forecast to 3.8%, from 4% previously.
Spain charged a princess with tax fraud. Cristina de Borbon, sister of the king, is the first member of the Spanish royal family to ever face criminal charges. Her husband is accused of embezzling millions of euros through his non-profit foundation.
The US weighed its options over North Korea. President Barack Obama said the hacking of Sony Pictures is not “an act of war,” but that the US may still put North Korea on its terrorism watch list. Pyongyang called for the US to take part in a joint investigation or suffer “grave consequences.” Meanwhile, Sony is reportedly exploring how to stream the The Interview.
Britain arrested a trader over exchange-rate rigging. A former RBS trader was the first to be arrested (paywall) as part of a global criminal probe by the US, UK, and Switzerland into currency market manipulation. Six banks, including RBS, have already paid $4.3 billion to settle forex rigging allegations.
Quartz obsession interlude
Max Nisen on how one company is reinventing management training. “Managers are developed, not in the classroom, but on the job, online, and through advanced digital simulations… These simulations have higher stakes than a corporate retreat or lecture. Managers must make judgements on real company issues, under stress.” Read more here.
Matters of debate
Don’t blame New York’s mayor for the murders of two policemen. Try blaming the murderer instead.
Get ready for $20 oil. That’s the real breaking point for most oil producers.
Raising cattle is good for the planet. Methane emissions can be reduced, and grass-fed cows don’t consume much water (paywall).
The Peshawar massacre could be a force for good. Pakistan could—but probably won’t—channel popular anger against the Taliban.
The dark net is darker than ever. The Silk Road was tame compared to the illicit online marketplaces that succeeded it.
Surprising discoveries
A North Korea-themed computer game is on its way. Kim Jong-un is the hero.
Nerds really are taking their revenge. The creator of Minecraft outbid Beyoncé and Jay Z to buy a $70 million mansion.
Last night wasn’t the longest night in history—but it was close. Contrary to earlier reports, 1912 still holds the title.
The CIA has very simple advice for traveling spies. Basically, avoid looking suspicious.
Pay your bills, or we take the cat. Russian tax collectors have an incredibly effective new tactic.
Songbirds can predict tornadoes. A flock of warblers fled the path of a storm that was at least 250 miles away.
Click here for more surprising discoveries on Quartz.
Our best wishes for a productive day. Please send any news, comments, leaked CIA manuals, and feline collateral to [email protected]. You can follow us on Twitter here for updates throughout the day.