What to watch for today
Immigration overhaul. The US Senate is expected to start debating the immigration legislation. Heated debates are expected on the issue that has split the Republican party, but a final vote is likely only by the time senators leave for their July 4 recess.
BoJ in wait-and-watch mode. The Bank of Japan will announce its decision on interest rates. But don’t expect any fireworks since Haruhiko Kuroda, the governor, has pledged to avoid “incremental” steps after unveiling unprecedented easing in April.
An action plan for the EU steel industry. The European Commission will lay out its plan (paywall) to help steel producers that support a 360,000-strong workforce and turnover of about €170bn.
While you were sleeping
S&P got optimistic about the US. The ratings agency upgraded the outlook on the US government’s debt from “negative” to “stable.” It’s a vote of confidence on US politicians’ ability to reach a deal on the debt ceiling later this year; we’re a little skeptical.
Apple’s bag of tricks. There were no big surprises at Apple’s Worldwide Developers Conference. The company unveiled iTunes Radio, a free music streaming service, and introduced a new version of its mobile operating system iOS7, with a host of new features that presages the fusion of desktop and mobile software.
Zero interest in Greek gas. Greece’s privatization efforts received a serious setback after the nation’s gas monopoly, Depa, failed to garner even a single bid. The state asset-sales program underpins a €240 billion ($317 billion) bailout plan.
Lululemon lost its leader. CEO Christine Day stepped down for “personal reasons”, supposedly unrelated to the company’s recent fracas with too-transparent yoga pants—which did less damage to its earnings, also announced today, than expected.
Quartz obsession interlude
Lily Kuo on two Thai billionaires and their $27 billion of acquisitions fueled by cheap credit. “The deals are worrisome for several reasons. Some of Dhanin and Charoen’s loans are precariously tied to real estate and the stock market. Also, Thai consumer spending would need to continue growing rapidly to justify these deals, Standard Chartered analyst Nirgunan Tiruchelvam told Reuters. And that’s unlikely to happen.” Read more here.
Matters of debate
Can Aung San Suu Kyi complete the transition from prisoner to politician? Lessons from Havel, Walesa and Mandela.
Dropped out of college with a load of debt? Fear not.
A strong yuan is bad for China. It gives state-owned companies too much buying power.
Americans are an anxious lot. Here’s how to manage a jittery workforce.
The secret to finding a job when you’re older. Start solving people’s problems.
The US isn’t the most snooping of states. Just look at India, Italy… and Canada.
Twitter’s latest star. Her name is Hillary
Want to keep your pet in shape? Get this app.
Napping at work can cost you. Ask this German banker.