What to watch for today
Yahoo’s $1.1 billion Tumblr bet. Yahoo is holding a press conference where it is expected to announce a deal to buy the popular blogging site Tumblr for $1.1 billion, according to the Wall Street Journal. The deal will be another step in Yahoo CEO Marissa Mayer’s efforts to remake the internet giant and attract younger audiences.
Jamie Dimon fights to protect his turf. JP Morgan chairman and CEO Jamie Dimon is expected to fly to Tampa, Florida, as part of a last-ditch attempt to thwart the shareholder resolution to separate his dual roles. Dimon’s lieutenants are exploring a possibility of a deal before the final vote on Tuesday.
Afghanistan to seek military aid from India. Afghan President Hamid Karzai is likely to discuss potential arms deals with Indian officials. Kabul’s overtures to New Delhi come at a time when tensions are running high on Afghanistan’s disputed border with Pakistan.
Campbell’s earnings expected to be “mmm mmm good.” Campbell Soup is scheduled to report third-quarter results before US markets open. Investors are hopeful that new products and an overseas expansion helped propel double-digit revenue growth.
While you were sleeping
North Korea did it again. North Korea fired short-range missiles from its east coast for the second day in a row, ignoring calls for restraint from Western powers.
David Cameron’s “losing control.” Former conservative minister Lord Howe launched a scathing attack on the UK prime minister, accused David Cameron of “losing control” of his party over Europe by opposing the terms of membership in the European Union. Cameron has pledged to hold a referendum on the matter in 2017—if he wins the next election.
Jamaica is not having a nice day. Concerns mount that the island nation is teetering on financial collapse. A bailout let by the International Monetary Fund may be its last chance to relieve a massive debt burden.
Ben Bernanke tells grads their future is bright. In a weekend commencement speech at Bard College at Simon’s Rock, the US Federal Reserve chairman offered a long list of reasons to be optimistic about the economy. He said: “…both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.”
Quartz obsession interlude
Christopher Mims and Leo Mirani on the man behind Bitcoin (maybe). “The inventor of Bitcoin, says [academic Ted] Nelson, is probably Japanese mathematician Shinichi Mochizuki. … Whoever created Bitcoin has the intellectual might of Isaac Newton.” Read more here.
Matters of debate
Will robots take our jobs? Yes, but slower than everyone thinks.
The euro crisis forced Greeks to put off having babies. Not anymore.
How Obama might save his presidency. Even if they’re just a string of faux scandals.
Our best wishes for a productive day. Please send any news, comments, Yahoo-Tumblr mashup ideas, and any advice for 2013 college grads to firstname.lastname@example.org. You can follow us on Twitter here for updates during the day.