What to watch for today
Shinzo Abe’s “third arrow.” Japan’s prime minister will give a much anticipated speech laying out further steps for economic revitalization, including more targeted stock purchases by the national pension plan. Markets are cautiously waiting on what he has to say after a 15% fall in the Nikkei in the last two weeks.
Turkey tries to assuage protesters. Demonstrators largely shrugged off an apology from Turkey’s deputy prime minister for authorizing excessive police force. The prime minister is out of the country for a visit to northern Africa.
New leadership in Pakistan. Nawaz Sharif is sworn in as prime minister for the third time. He faces numerous challenges—in particular, an energy crisis.
Economic data dump. The ADP employment report will provide the first look at US employment in May. Data on non-manufacturing business activity and factory goods orders will also hit the tape, along with global service PMI figures from Markit.
While you were sleeping
Chrysler put its foot down. The carmaker refused to recall 2.7 million Jeeps that government regulators say are unsafe—most likely because it can’t afford the fallout.
Brussels compromised on Chinese solar panels. An 11.8% tariff lasting only two months isn’t quite the 47.6% duty that it threatened, but the EU says a higher tariff isn’t off the table just yet.
France confirmed Syria’s government used chemical weapons, putting the US in an awkward position given President Obama’s declaration their use would constitute crossing a “red line.” Washington said it would deploy Patriot missiles and fighter jets to Jordan.
Score one for Samsung. A US trade commission overturned an earlier ruling, finding that Apple violated a Samsung patent and banning imports and sales of some older iPhones and iPads. The ruling falls on the same day that the White House cracked down on “patent trolling.”
Australian GDP grew a measly 0.6% in the first quarter, just below analysts’ predictions.
Coca-Cola returned to Myanmar. After a 60-year hiatus, CEO Muhtar Kent compared it to the fall of the Berlin wall.
Amazon got Dora. It will pay “hundreds of millions of dollars” to license children’s shows like Dora the Explorer, Blue’s Clues, and SpongeBob SquarePants which were formerly on Netflix. Zach Seward highlights a few takeaways.
Quartz obsession interlude
Josh Meyer on why the global warrior elite is recognizing “deviant globalization” as the next big geopolitical threat. ”The concept describes the convergence of all of the types of criminal activity that flourish in the teeming underworld of black market economies. … Adm. James Stavridis, one of the foremost creative thinkers among the global warrior elite, is talking up the concept, which he has also dubbed “criminal convergence.” Read more here.
Matters of debate
Google could decide an election by manipulating the search results for candidates.
Tipping should be banned. It’s discriminatory and linked with corruption.
Everything that’s wrong with Silicon Valley: Sean Parker’s destruction of a redwood grove for his wedding.
Erdogan has nothing to fear. Half of Turkey supports him, the other half is scared of him.
The truth about US college tuition fees. They aren’t growing as fast as you think.
Surprising discoveries
The BBC can’t tell time. It’s harder than you might think.
US work-life balance is out of whack. Because of single mothers.
Merci, Italia. The French learned how to make wine from the Italians 2,400 years ago.
A US Navy SEAL reveals a secret: Her transgender life.
Who is the Tank Man? 24 years after the Tiananmen Square protests, the identity of the iconic protester is still unknown.
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