What to watch for today
The Tiananmen Square protests are remembered. On June 4, 1989, the Chinese army massacred pro-democracy protesters in Beijing. Although censors go to elaborate lengths to suppress remembrances of the event, Chinese students and victims’ families have called for accountability for the killings.
The Bank of England holds its monetary policy meeting. The central bank is expected to keep its benchmark rate steady, in its first meeting since the news that inflation turned negative in April.
NASA tries again with its flying saucer test. Stormy seas forced the delay of the Low-Density Supersonic Decelerator’s test flight, which is now scheduled for 1:30pm ET.
JM Smucker opens the lid. The consumer food giant, whose holdings include jam and peanut butter, is expected to report a decline in profit due to higher coffee prices in the US. Other companies reporting earnings include Verifone, Lands End, Michaels, and Navistar.
While you were sleeping
T-Mobile US is in deal talks. The mobile carrier is in merger talks with the US’s second-largest satellite TV operator, Dish Network, according to the Wall Street Journal (paywall). But key issues have yet to be decided between the $30 billion-plus companies.
South Korea closed hundreds of schools over infection fears. Over 700 schools were closed after a third person died from the MERS virus and the number of infected rose to 35. Middle East Respiratory Syndrome affects sufferers’ breathing and can cause a fever and kidney failure; so far 1,600 people are in quarantine across South Korea.
A FIFA official’s confession was unveiled. Former executive committee member Chuck Blazer testified that he and others accepted bribes connected to the 1998 and 2010 World Cups, awarded to France and South Africa, respectively. US prosecutors unsealed Blazer’s 2013 testimony last night. The FBI is also reportedly widening its investigation to include the process behind awarding the 2018 tournament to Russia and 2022 World Cup to Qatar.
Greece rejected a deal from its creditors. Prime minister Alexis Tsipras called the conditions requested by lenders in return for further bailout funds unreasonable, kicking off yet another round of negotiations. Greece owes the IMF €1.5 billion ($1.7 billion) in loan repayments in this month alone.
Finally, some good news from France. First-quarter unemployment in the euro zone’s second-largest economy dropped to 10.3%, from 10.4% in the previous three months, official figures showed. Separately, France’s central bank predicted economic growth would hit 1.2% this year and 1.7% in 2017, beating the government’s own projections.
Quartz obsession interlude
Alice Truong on a new era for advertising. “PriceWaterhouseCoopers (paywall) estimates that online advertising, which in 2014 brought in $49.45 billion in revenue in the US, will climb to $83.89 billion by 2019. That year will prove to be a major tipping point in advertising, with online ads overtaking television for the first time.” Read more here.
Matters of debate
Graduates, don’t take those enticing corporate jobs. They will ruin your life forever.
To get Republicans behind paid leave, show them it works. Rhode Island is a great place to start.
The current wave of political correctness will soon die. All the witch hunts and campus debates are too absurd to last.
The Red Cross failed Haiti spectacularly. It raised nearly half a billion dollars but built only six homes.
Sepp Blatter will be missed by much of the world. Outside of Europe and the US, Blatter’s FIFA provided development aid and global recognition.
Ebola drugs may have been on the shelves all along. Researchers found two existing drugs that could treat the disease.
Indonesia is using drones to discover tax cheats. They fly over tin mines to see whether owners are underreporting their size.
Superwolves and other hybrid species are evolving before our eyes. They are a symptom of climate change.
Only 2% of mutual fund assets are managed by women—even though they are often better at investing.
A Danish politician bared all. John Erik Wagner is running an unusually revealing campaign for prime minister.
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