#Spain’s Socialists summit, #Nintendo’s quirky console, underwater diamond mining

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY AND OVER THE WEEKEND

Spain’s Socialists decide whether to let their rivals form a minority government. They have so far vetoed attempts by Mariano Rajoy—leader of the conservative People’s Party—to form a minority administration. But they face an Oct. 31 deadline to form a government. The make-or-break summit on Sunday could end 10 months of political deadlock, or lead to the third general election in a year.

The UN Human Rights Council holds a special session on Aleppo. Britain requested today’s meeting on behalf of the US, Saudi Arabia, Turkey, France, Germany and a handful of other nations. Members will consider ways to address the worsening situation in the besieged Syrian city. Rebels have rejected a unilateral ceasefire announced by the Syrian military and backed by Russia.

Earnings: Daimler, General Electric, and McDonald’s are among the companies reporting quarterly results.

QUARTZ ANNOUNCEMENT

Technology is getting brainier than ever, join Quartz in London to find out how. From self-driving trucks to grandmaster-defeating artificial intelligences, smart technology is offering many new benefits—highly efficient delivery networks, the demystification of big data, and machines that can train humans to improve their skills—but also comes with a myriad of risks. Join Quartz in London November 16 to explore one of technology’s most complex new frontiers. Sign up for free here.

WHILE YOU WERE SLEEPING

AT&T discussed a takeover of Time Warner. Senior executives explored a merger in recent meetings, Bloomberg reported. It would be the largest such deal in years as telecom companies buy media firms to get hold of valuable content. AT&T is among the top US providers of home and wireless internet service.

…While Verizon had second thoughts about buying Yahoo.The telecom giant said it may need to renegotiate its purchase due to the “material impact” of a massive Yahoo data breach. Separately, Verizon reported lower quarterly revenues and a decline in subscriber growth.

Nintendo unveiled an unconventional new video game system.The Switch, due in March, functions as a portable gaming device and a home console. It plays to Nintendo’s strength in multiplayer gaming, with the company encouraging people to play with their friends.

Trump said he’ll respect the US election results “if he wins.”The Republican presidential candidate has faced a torrent of bipartisan criticism after refusing to honor the outcome of the race. He said at a campaign event that he would contest or challenge “a questionable result,” and repeated allegations the race was “rigged” against him.

Qualcomm neared a deal to acquire NXP Semiconductors. The two chipmakers could make an announcement as early as next week,Bloomberg reported. If it goes through, the deal would be the semiconductor industry’s biggest-ever transaction, and come amid a wave of mergers. NXP has a market value of about $35 billion.

QUARTZ MARKETS HAIKU

Insurers are glum.
Travelers slumps, and MetLife
Yanks the ball away.

QUARTZ OBSESSION INTERLUDE

Eshe Nelson on how the the rise of protectionism will hurt stocks: “For decades, stocks have had a ‘globalization premium’ that boosted their prices. Now the slowdown in global trade and rise of protectionist policies could cut into expectations for future corporate earnings, dealing the stock market a nasty wallop.” Read more here.

MATTERS OF DEBATE

Donald Trump is the first candidate of the climate change era.The geopolitical changes caused by global warming will bring moredemagogues to power.

Straight men should wear cosmetics. They would look better and appreciate the effort that women make to look “professional.”

The West, along with liberal democracy, is in decline. To restore peace, nations need to strive for greater integration (paywall) and address concerns about globalization.

SURPRISING DISCOVERIES

Donald Trump’s debate insults were great for Janet Jackson.Streams of her 1986 hit song “Nasty” spiked on Spotify.

Coconut oil is not that healthy after all. The trendy new super food could increase cholesterol and harm the heart.

Scientists might have finally found a cure for the common cold. A new vaccine is showing promising results in animal trials.

De Beers is mining underwater diamonds. A powerful vacuum on the ocean floor near Namibia has found some of the world’s most valuable gems (paywall).

Sweden is trying to revive repair shops. It’s offering tax breaks to citizens who fix, rather than replace, broken consumer products.

Our best wishes for a productive day. Please send any news, comments, Janet Jackson jams, and underwater diamonds tohi@qz.com. You can follow us on Twitter for updates throughout the day or download our iPhone app.

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