What to watch for today
OPEC sets a target. The cartel of petroleum exporting nations meets in Vienna, and is expected to maintain maximum oil production at 30 million barrels a day. The price of oil fell ahead of the meeting.
The US releases its jobs report. Hiring has fallen since last year, and the Labor Department’s data dump could offer clues to whether this is a long-term slowdown, or a mere blip. The indicators to watch for are pace of hiring, wages, and the overall unemployment rate.
A much-needed monsoon nears Kerala. Amid an Indian heatwave that has killed 2,500 people, the rains are already five days late. Forecasters fear that the annual rainfall may be much smaller than usual.
While you were sleeping
US regulators approved a pill to increase female sex drive. The Food and Drug Administration’s advisory panel backed flibanserin, made by Sprout Pharmaceuticals, despite concerns about potential side effects. A advocacy group, backed in part by Sprout, had argued that the gender bias had delayed the approval of sexual dysfunction drugs for women, while male drugs like Viagra are widely available.
Greece warned it will miss a deadline. The heavily indebted country will put off a €300 million ($339 million) loan repayment to the IMF due tomorrow, instead bundling its four June payments, worth €1.6 billion, into one lump sum at the end of the month. The request, confirmed by an IMF spokesperson, was granted only once before—to Zambia in the 1970s.
The US government’s HR department was hacked. The Associated Press reports that the Office of Personnel Management suffered from a “massive data breach” involving personnel records, which could potentially affect every federal agency and millions of employees. A government announcement is expected imminently, the AP said.
Even more US presidential candidates announced their bids. Former Texas governor Rick Perry declared his second bid for the Republican nomination, and former Florida governor Jeb Bush hinted that he will officially announce his White House run on June 15. On the Democratic side, former governor Lincoln Chafee of Rhode Island said he would run on an unusual platform that calls for adopting the metric system and making peace with ISIL.
At least 150 people died in a blast in Ghana. A fire at a truck terminal in the country’s capital, Accra, caused an explosion after spreading to a nearby gas station, where local residents were seeking shelter from torrential rains that have hit the city.
Quartz obsession interlude
Marc Bain on how the NBA finals are not just about basketball—but also about sneakers. “Just as they do for LeBron James and Stephen Curry—the king and the upstart—the finals offer a head-to-head match up of sorts for their sponsors, another king and another upstart: Nike and Under Armour.” Read more here.
Matters of debate
It’s scary to be a professor these days. The fear of offending a liberal student is overwhelming.
Don’t be fooled by Jeb Bush’s friendly face. He is more ruthless and conservative than he seems.
I would pay for Facebook if it didn’t track me online. A proposition worth considering. (paywall)
We shouldn’t allow Qatar and Russia to host the World Cup. Let’s take another look at those corrupt FIFA decisions.
The West has given China the upper hand. Reliance on Chinese goods lets Beijing to pursue aggressive territorial claims.
“Hellboy” roamed the world 68 million years ago. Scientists discovered an incredible new dinosaur fossil.
Sony makes a light bulb that doubles as a Bluetooth speaker. Let there be light…and sound!
London’s sewers contain more cocaine than any other European city. Amsterdam, of course, has more cannabis residue.
Mermaids are banned from Canadian swimming pools. And they are not happy about it.
Octopuses are the comedians of the sea. A scientist almost drowned laughing at one that hid in a coconut shell.