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What to watch for today
Alphabet meets with investors. The Google parent company may have to face questions about the fate of its Nest smart-device unit, after founder Tony Fadell abruptly resigned last week. The live-streamed meeting will also feature a vote on a shareholder proposal to address the gender pay gap.
Warcraft comes to China. The movie, based on the popular online video game and backed by Chinese tech giant Tencent, is expected to bring in over $300 million in ticket sales—making it a bigger hit in the mainland than the last Star Wars. In China the video game has an estimated fan base of 10 million people.
More US employment data. The labor department will release April data on job openings and labor turnover. Job openings are likely to have decreased (pdf) by 85,000 to about 5.67 million.
While you were sleeping
Hillary Clinton won in New Jersey, New Mexico, and South Dakota. California results are not in yet, but there’s no hope for a last-minute comeback by Democratic rival Bernie Sanders. Clinton will be the US’s first female major-party presidential nominee. Sanders will meet with president Obama on Thursday.
A Chinese fighter jet made an unsafe intercept of a US plane over Asian waters. The US reconnaissance plane was flying in international air space over the East China Sea, said Pentagon officials. A similar incident occurred last month over the South China Sea.
The US and India agreed to a nuclear reactor deal. The breakthrough followed a White House meeting (paywall) between US president Barack Obama and Indian prime minister Narendra Modi. It’s another sign of a warming relationship as the US seeks to boost New Delhi’s role in counterbalancing China.
Saudi Arabia is working on its first international bond sale. Finance minister Ibrahim Al-Assaf declined to give an amount, but demand for the bonds will likely be high. Pressured by low oil prices, the kingdom in April made ambitious plans to be less dependent on petroleum by 2020.
The World Bank cut its global growth forecast. It cut the forecast to 2.4%, down from the 2.9% estimated in January, noting that commodity-exporting countries are struggling with low prices for raw materials. It also cited weak trade, sluggish demand in advanced economies, and diminishing capital flows.
San Francisco dealt a blow to Airbnb. Its board of supervisors voted overwhelmingly to require home-sharing companies like Airbnb to post only the listings of residents registered with the city. Amid a housing crisis in the city, hundreds of units sit vacant so they can be rented on Airbnb, a study found last year.
Quartz markets haiku
A warm afternoon,
Market’s soft hum over the
Cooing of the dove
Quartz obsession interlude
Oliver Staley on the dominance of Walmart. “Walmart isn’t a unicorn, and it’s no longer sexy. But it is massive. With $482 billion in revenue, it sells more than Apple, Amazon, and Microsoft put together.” Read more here.
Matters of debate
US voters are delusional about Mexico. Their neighbor is not a threat (paywall).
Investment banks are offering swanky perks like “weekends.” But it won’t be enough to help them retain antsy millennials.
Muhammad Ali was a radical Muslim. He was committed to the power of peaceful dissent.
A Japanese company wants to sell on-demand shooting stars. The artificial meteors could be ready for the 2020 Tokyo Olympics.
Sharks possess distinct personalities. They range from shy and cautious to bold and adventurous.
Chinese parents are hiring nannies for all-night study sessions. They help kids cram for notoriously difficult high-school entrance exams.
The Arctic tern migrates twice the circumference of the Earth every year. The birds clock up to 3 million km of lifetime travel.
German trains don’t run on time anymore. The country’s reputation for punctuality has been marred by massive construction projects.
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