🌎 Aluminum alert

Plus: Who needs subscriber forecasts anyway? Was this newsletter forwarded to you? [Sign up here]( [Quartz]( October 20, 2022 [View in browser]( Sponsored By Good morning, Quartz readers! Here’s what you need to know The largest producer of aluminum in the US reported a surprise loss. Alcoa blamed the higher costs of energy and raw materials [for the $60 million adjusted loss.]( Tesla released its third quarter results. The electric car maker reported [slightly lower revenue]( than analysts expected, better-than-forecast earnings. Hyundai investors demanded action to address child labor reports at US plants. The South Korean car maker [promised to cut ties]( with the Alabama factories—implying it had yet to do so. Corporate board members began resigning seats held at rival companies. The US justice department [reported progress]( in its drive to investigate potential breaches of antitrust law. UPS agreed to pay a $5.3 million fine and fix hazardous waste violations. The US Environmental Protection Agency had found breeches [at more than 1,100 facilities]( across the country. Mining giants made their case against Chile’s proposed royalty bill. Representatives of BHP and Antofagasta Minerals told lawmakers the levy [would affect billions of planned investments](. Sponsor content by The Bill & Melinda Gates Foundation The Future of Progress. Tackling two of the greatest challenges of our time — a broken food system and gender inequality — present enormous opportunities to improve the lives of millions of people.[The 2022 Goalkeepers Report]( explains how the world can accelerate solutions to these problems with human ingenuity, innovation, political will, and sustained funding. [Learn more]( What to watch for Leaders of the EU’s 27 member states begin a two-day meeting today (Oct. 20) in Brussels. The energy crisis remains a top priority for the bloc, especially following the [recent damage]( to the Nord Stream pipelines. Members face a complex task: achieving independence from Russian fossil fuels while also curbing energy prices. The EU is due to implement a ban on Russian oil imports [in December]( as well as impose a price cap on oil and gas, but progress on both fronts has been a slog. A price cap on Russian oil was approved [earlier this month]( as part of a new round of Russian sanctions, but it was light on important details, such as the actual price point. And a plan for a gas price cap isn’t ready, but the European Commission has asked members [to draft a proposal](. Reaching a consensus will be tricky, but implementation even trickier. Who needs subscriber forecasts anyway? Streaming giant Netflix surprised investors by turning around two quarters of subscriber losses in its latest earnings report, netting 2.41 million new viewers. But don’t expect future subscriber forecasts from the company. Beginning in 2023, that metric is gone, and it’s all about that top-line revenue, baby. Netflix hopes that by [nixing its subscriber forecast]( in favor of a revenue guidance, investors will start to see it as a [diversified entertainment media brand]( instead of just a streaming company. It makes sense—Netflix’s days of binging on unchallenged subscriber growth are over, so why not decouple its fortunes from its ability to expand its 223 million-strong subscriber base? But the reporting change (Netflix prefers “guidance evolution” 💅) doesn’t alleviate [the growing competitive pressures]( it faces from rivals like Disney and [Amazon](. A new number might shift investors’ focus, but they’ll still be tough critics. The next step in Amazon’s union saga The Amazon Labor Union was just handed its second election loss in a row at a warehouse in Albany, New York. It’s not the kind of momentum workers were looking for ahead of another vote set to take place at an Amazon warehouse in Moreno Valley, California. While unionizers won’t accept the results of the last two elections lying down, the [setbacks do raise questions]( around whether the grassroots organization has the resources and experience to take on the e-commerce behemoth. Graphic: (Ananya Bhattacharya) ✦ Do stories like this help you understand labor tensions in the US and around the world? Help our reporting stay free and accessible to all with a Quartz membership. [Take 50% off]( when you sign up today. Quartz announcement Enter our sweepstakes for a chance to win a $200 Amazon gift card. That should cover that new headset you’ve been eyeing so you can listen to all your favorite podcasts. Here’s how: Listen to an episode of Quartz’s new podcast, Work reconsidered, write a review on [Apple Podcasts]( or [Spotify](, and email a screenshot of it to [hi@qz.com](mailto: hi@qz.com) by November 18, 2022. Winner will be randomly selected. Open to US residents only. Must be 18 or over to enter. Full rules [here](. Quartz’s most popular 💰 [How can companies improve salary transparency?]( 🕳 [America keeps digging into its oil reserves]( ☠️ [Has Ola Electric turned into a toxic workplace?]( 😤 [The WHO is done playing nice about vaccine equity]( 🧬 [Child DNA kits take on a new meaning in the Uvalde shooting aftermath]( 🔥 [The world is burning. Can Silicon Valley put out megafires?]( Sponsor content by The Bill & Melinda Gates Foundation The Future of Progress. Tackling two of the greatest challenges of our time — a broken food system and gender inequality — present enormous opportunities to improve the lives of millions of people.[The 2022 Goalkeepers Report]( explains how the world can accelerate solutions to these problems with human ingenuity, innovation, political will, and sustained funding. [Learn more]( Surprising discoveries Feel like you’re saying “IDC” all the time? The pandemic may have damaged our ability to care about other things like [climate change](. Iran’s state media is attempting to roast Britney Spears. But maybe the Islamic Republic News Agency should just [leave Britney alone](. Workers could be flipping between apps and websites over 1,000 times a day. The “[toggling tax](” may also be lowering attention spans and engagement in the office. An SUV-sized sunfish was found near Portugal’s Azores. Weighing as much as a Lexus LX, it could be the [heftiest bony fish]( ever discovered. The Bubonic plague had a lasting effect on our immune systems. Genes that helped our [ancestors survive]( back then may be detrimental today. Our best wishes for a productive day. Send any news, comments, toggle goggles, and fish-sized SUVs to hi@qz.com. Reader support makes Quartz available to all—[become a member](. Today’s Daily Brief was brought to you by Sofia Lotto Persio, Ananya Bhattacharya, Julia Malleck, and Morgan Haefner. 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