TOP NEWS
Singles Day
Alibaba's Singles Day—the biggest shopping event in the world—apparently saw over $16.3 billion in purchases take place in a mere 90 minutes. That's more than half the total takings for last year's Singles Day. Bloomberg
Bolivia Shift
Bolivian President Evo Morales has resigned after international auditors found "serious irregularities" in the election that last month returned him to office. Three people died in protests against the result, and the crunch came yesterday when the head of the Bolivian armed forces asked the left-wing president to step down. Morales said he was resigning for the good of the country, but also called it a coup. CNN
Khosrowshahi's "Mistake"
Uber CEO Dara Khosrowshahi said in an Axios interview that he thought the murder of journalist Jamal Khashoggi was a "mistake" by the Saudi government, which happens to be Uber's fifth-biggest shareholder. He also compared it to the accidental killing of a pedestrian by an Uber self-driving vehicle (which, it emerged last week, was not programmed to recognize jaywalkers.) Then he phoned Axios to say he misspoke and "When it comes to Jamal Khashoggi, his murder was reprehensible and should not be forgotten or excused." Axios
Dimon Thoughts
Jamie Dimon, who made $31 million last year, thinks the wealthy have been "getting wealthier too much in many ways." But regarding his own takings, he said: "I have nothing to do with it." Dimon said inequality would be less of a problem if the U.S. economy was grown more, and decried tax cuts for the rich. But regarding wealth-tax-proponent and billionaire-basher Elizabeth Warren, he said: "I think you should vilify Nazis, but you shouldn't vilify people who've worked hard to accomplish things." CNBC
Collaboration Is Key
Given the rapid rate of a technological change and disruption, how can businesses innovate without sacrificing what makes them unique? Nishita Henry, Deloitte Consulting Chief Innovation Officer and Deloitte Catalyst lead, says it begins with collaboration.
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AROUND THE WATER COOLER
Automation Fears
A recent survey lays bare the fears workers have over the automation of their jobs, with 81% refusing to hand their drudge work over to an algorithm. According to PwC, this creates a problem: people don't learn much when they're worried, and they need to learn new tech skills to survive the automation wave. Fortune
WeWork Scrutiny
The Wall Street Journal reports that, just before WeWork planned to go through with its IPO, the Securities and Exchange Commission sent the company a list of 13 unresolved concerns around things like financial reporting—particularly its "contribution margin" profitability metric—and WeWork forecasts that assumed 100% occupancy of its offices. WSJ
Australian Wildfires
The Australian state of New South Wales—the one with Sydney in it—has declared a state of emergency over a series of catastrophic wildfires that have so far taken three lives. Over 60 fires are currently burning across NSW and Queensland. Sydney, Australia's biggest city, may soon be threatened. P.S.: Read this opinion piece from the mayor of a stricken town, who urges governments to listen to scientists about climate change. Sky
British Steel
China's Jingye Group has reportedly agreed in principle to buy the troubled British Steel for around $90 million, with the British government set to help out with financial support including loan guarantees. The sale, if it goes through, would come with 4,000 workers in the U.K. and 1,000 in France and the Netherlands—20,000 more jobs in British Steel's supply chain would also welcome the deal. BBC
This edition of CEO Daily was edited by David Meyer.
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