Your Evening Briefing
The evening briefing will soon be available in your inbox every day. Sign up here.
James Dyson—the man who brought you the ultimate vacuum cleaner, hair dryer, and hand dryer—now wants to build the next aspirational consumer product: the electric car. Dyson said his company will spend £2 billion on the effort, half on the car itself, half on batteries. The design will be “radical,” but it won’t be a sports car—and it won’t be “very cheap” either, the British entrepreneur said at the big reveal this afternoon in London. — Lisa Fleisher
Don’t call it a breakup. Google will create a new shopping service unit in an effort to satisfy European Union concerns over how product results were displayed, three people familiar with the investigation told Bloomberg News. One side effect? The tech firm will soon find itself bidding against rivals for ad slots at the top of its search page. EU antitrust regulators had said the search giant needed to give equal treatment to comparison-shopping sites and had set a Thursday deadline to comply—or be fined up to 5 percent of daily revenue.
Going slow. U.K. Prime Minister Theresa May made a big show of going to Florence last week for her speech about Brexit, in a bid to restart stalled talks. It seems like she didn’t do enough. European Council President Donald Tusk met with the premier and said “sufficient progress” hasn’t yet been made for talks to move forward.
Congratulations, Ireland. The country is officially the world’s most “food-secure” nation as the U.S. dropped from the top spot in a global ranking of how well countries can feed their own people. The sixth annual Global Food Security Index paints a deteriorating picture of the world. “Food security is in reverse,” said Robert Powell, a senior consultant with the Economist Intelligence Unit in New York. “If we’re aiming for zero hunger, we’re going in the wrong direction.”
East-west divide. As Angela Merkel prepares for a fourth term in power, a few former communist neighbors east of Berlin are quietly relishing the less-than-emphatic nature of her victory. Leaders in Poland, Hungary and the Czech Republic have criticized Merkel’s open-door refugee policy, which they link to terrorism. With right-wing parties ascendant in eastern Europe, it’s a stark reminder of the fault line that cuts through the EU.
Oil squeeze. Citigroup says to forget about a flood of oil from OPEC next year: You’d be better off preparing for a shortage. Five nations in OPEC might already be pumping at maximum capacity, and there’s a risk that those nations could drive a market squeeze in 2018 because of weaker investment in exploration and development. If that happens, we could see a supply gap.
Always connected. Only 53 airlines currently offer in-flight internet, but the perk is already viewed as an “expectation” rather than a luxury, according to Inmarsat’s CEO. There’s another reason why the bonus is likely to become ubiquitous, too: On-flight connectivity should generate $30 billion for airlines by 2035.
Shine bright like a diamond. The biggest gem found in more than a century has sold for $53 million—but it wasn't an easy sale. It took more than a year to unload the 1,109-carat Lesedi La Rona diamond, fetching a lower price than a smaller, 813-carat diamond found at the same time. Size isn’t the most important factor in the the diamond industry, with color and ease of cutting playing a role, too.
Furious, they were. A top education official was fired in Saudi Arabia after a doctored image of King Faisal with Star Wars icon Yoda appeared in a Saudi textbook. The original image showed then-Prince Faisal signing the United Nations charter in 1945. A Saudi artist added the Star Wars icon next to the prince. How it made its way into a textbook is a mystery, but the image went viral on social media.
—Compiled by Siraj Datoo, Leila Taha and Lisa Fleisher