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Facebook’s damage control, big bank earnings, sewer gold

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qz.com

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Thu, Oct 12, 2017 09:44 AM

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Quartz Daily Brief sponsored by Good morning, Quartz readers! What to watch for today Sheryl Sandber

[Quartz - qz.com]() Quartz Daily Brief sponsored by Good morning, Quartz readers! What to watch for today Sheryl Sandberg does damage control in DC. Facebook’s COO will meet lawmakers investigating Russia’s Facebook ads and give the company’s first [public interview]( from a senior executive involved in the probe. Sandberg will also [discuss racially inflammatory ads]( with members of the congressional black caucus. Donald Trump moves to unwind the Affordable Care Act. The president will sign an executive order [instructing federal agencies]( (paywall) to start easing insurance rules, say senior White House officials. Critics say killing the ACA will make health insurance more expensive, especially for older or sicker people. Wall Street reports earnings. JPMorgan Chase and Citigroup kick off [third-quarter earnings season]( (paywall). Big banks have signaled that trading revenues will be down by 15% to 20% from this time last year. Sponsor content by Prudential The peak age of innovation is 47. Millennials are keeping American public libraries open. Gen Xers hold 40% more debt than the average American adult. There are a lot of seemingly counterintuitive narratives when it comes to generational dynamics. This [guide to navigating multigenerational workplaces]( sets the record straight. [Advertisement] While you were sleeping Trump twice threatened to shut down media outlets. After posturing to pull [NBC’s broadcast license]( on Monday, the president sent [another tweet]( saying network news licenses “must be challenged and, if appropriate, revoked.” An [NBC report]( about Trump reportedly wanting a tenfold increase in the country’s nuclear arsenal was what provoked his ire. Gucci shed its fur. The Italian fashion brand, part of the Kering luxury group, said it will no longer use [mink, coyote, raccoon dog, fox, rabbit,]( and other animals bred for their fur from 2018 onwards. It will auction off the remainder of its furs. The Humane Society International called the decision “a huge game-changer.” Lufthansa clinched a deal with bankrupt Air Berlin. Germany’s flag carrier said it will sign the agreement today to [buy a large part]( of what was the country’s second largest airline until it went bust in August. EasyJet’s plans to buy a bunch of Air Berlin’s planes are still up in the air. SoftBank’s shopping spree drove its stock to a 17-year high. The Japanese firm surged around 3.6% in Tokyo as [investors salivated]( over the deals it’s negotiating—including a big stake in Uber and the Softbank-controlled Sprint merger with T-Mobile US. A PwC report found SoftBank was behind four of the five [biggest venture capital deals]( globally in the third quarter of 2017. Colombia’s peace accord with the FARC got constitutional protection. A constitutional court in Bogota ruled that the 2016 accord between the government and the rebel group [cannot be modified for 12 years.]( It protects the deal from potential changes should right-wing opponents of president Juan Manuel Santos take power after the election in 2018. Quartz obsession interlude Zheping Huang on how news from China depends on anonymous local journalists. “Most foreign news organizations in mainland China rely heavily on Chinese nationals to navigate the country’s complex bureaucracy, flag important developments, and find people willing to be quoted in a foreign paper. But China bans its citizens from working as full-fledged journalists for these publications. Instead, they are only allowed to offer ‘assistance,’ after they sign employment contracts with agencies affiliated with the Chinese foreign ministry.” [Read more here](. Matters of debate Suburban offices are hip again. As [millennials move out]( of city centers, companies are starting to follow the talent. “Intelligent” means different things in different cultures. IQ tests created in predominately [white, Western societies]( can make global comparisons problematic. SoftBank’s master plan is aimed at a robotic future. The seemingly random investments by Masayoshi Son’s [$100 billion Vision Fund]( (paywall) all have a common thread. Message from our Partner Artificial intelligence is opening up myriad possibilites for lifelong education and jobs. Sebastian Thrun is an AI pioneer and was one of the minds behind Google’s self-driving car. Now, he’s democratizing education with Udacity. Join Thrun and other education leaders, policymakers, and innovators at the WISE Summit in Doha on November 14-16. [Apply now to attend](. Surprising discoveries A fake story about Google buying Apple briefly roiled the stock market. The Dow Jones article was meant to be [an internal technology test]( (paywall). The Swiss sewage system is clogged with gold. Researchers say gold flecks [worth an estimated $2 million]( have been flushed by refineries and Swiss watch firms. Leonardo da Vinci’s last painting once sold for $60. Salvator Mundi [could make]( $100 million at auction next month. A court in Australia recognized an unsent text message as a valid will. Instructions included “put my ashes in the back garden,” along with a [smiley face](. New Zealand police apologized for posting a meme about traffic deaths. “When you have to tell someone their family has died” was [accompanied by a GIF from The Office.]( Our best wishes for a productive day. Please send any news, comments, priceless paintings, and inappropriate GIFs to hi@qz.com. You can follow us[on Twitter]( for updates throughout the day or download[our apps for iPhone]( and[Android](. Enjoying the Daily Brief? Forward it to a friend! They can [click here to sign up.]( Want to receive the Daily Brief at a different time? [Click here]( to change your edition. To unsubscribe entirely, [click here](. Quartz | 675 Avenue of the Americas, 4th Fl | New York, NY 10011 | United States

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