What to watch for today
Greece is the word for the ECB. European Central Bank president Mario Draghi is expected to call for a new deal with the country’s creditors today as the central bank meets with Greece running critically short of cash.
China searches for ferry survivors. More than 400 people remain missing after a passenger ferry capsized on the Yangtze river. It was carrying 458 mainly elderly tourists, and could prove to be the country’s worst modern maritime disaster.
Egypt’s president visits Berlin. Abdel Fattah al-Sisi will sit down for talks with chancellor Angela Merkel despite the objections of human rights organizations, who want the German leader to address alleged government abuses, including the country’s liberal use of the death penalty.
NASA launches its flying saucer. The agency will test a disc-like spacecraft, which will be carried aloft by a weather balloon before blasting off from 120,000 feet. The “Low-Density Supersonic Decelerator” could eventually be used on human missions to Mars.
US and Canada release their trade deficit data. Both countries are expected to have reduced their deficits in April, the US by $7 billion, and Canada by less than C$1.2 billion ($1 billion).
While you were sleeping
Interpol issued red notices for six people connected to FIFA. The global police agency issued the “international wanted person alerts” at the request of US authorities, which have charged the men with racketeering, conspiracy, and corruption. The notices are not arrest warrants, and Interpol cannot force countries to arrest any of the men.
Nomad entered talks to buy another frozen food brand. The acquisition-happy holding company is discussing the purchase of Findus’ mainland European business as well as its brand. Nomad agreed in April to buy the parent of Bird’s Eye frozen foods for €2.6 billion ($2.9 billion).
Softbank announced a South Korean e-commerce investment. The Japanese mobile carrier said it would buy $1 billion in newly issued shares in Coupang, South Korea’s largest standalone online retailer, continuing Softbank’s international expansion bolstered by its investment in China’s Alibaba.
A major global growth forecast was downgraded. The Organization for Economic Co-operation and Development said global economic growth would reach 3.1% this year, down from the 3.7% it predicted in October and lower than last year’s 3.3%. The OECD cited Greece as a cause for concern, as well as China’s slowdown and the US’s weak first quarter.
Australia’s GDP grew more than expected. Its economy expanded by 2.3% in the first quarter compared to a year earlier, beating expectations of 2.1% growth. That came largely from increased exports of natural resources; consumer spending remains soft.
UK consumer prices failed to pick up. Shop prices fell 1.9% in May compared with a year earlier, matching the rate at which they fell in April, according to the British Retail Consortium. That’s a faster drop than has been recorded in the wider consumer price index.
Quartz obsession interlude
Omar Mohammed on what Sepp Blatter’s successor at FIFA should learn from his resignation. “For all his failings, Blatter was smart enough to understand that the game is global—and whoever replaces him in the leadership structure at the top of the most popular sport in the world would be wise to adopt the same philosophy.” Read more here.
Matters of debate
Tech companies shouldn’t monetize users’ personal data. So says Apple CEO Tim Cook.
Apple should steer away from the auto industry. It’s a tiresome, low-margin business.
Al Jazeera endangered its journalists in Egypt. A former bureau chief blames the news group’s owner, the state of Qatar, for their continued imprisonment (paywall).
The current conflict in Iraq has descended into farce. The US is effectively supplying ISIL with weapons.
The new ”war on drugs” is being waged against sex workers. Lawmakers are repeating their mistakes.
Bobby Jindal is running for president. The Louisiana governor will announce later this month.
Typing a particular string of characters disables Skype. Should you send them to your contact, you’ll have to reinstall the app.
US airport security is worse than you think. Pre-flight screeners failed 95% of tests for weapons and explosives.
Sewer fish is off-limits in New Jersey. Residents were warned not to eat seafood from the street after a storm.
Caitlyn Jenner beat Barack Obama’s Twitter record. She reached one million followers in just four hours.
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