Good morning, Quartz readers!
What to watch for today
A ban on carry-on laptops for Europe-US flights. The security restrictions currently in place for several Middle East carriers will be expanded to include European flights, according to the Daily Beast. An official announcement is expected on Thursday.
The US briefs the G7 on Donald Trump’s tax plan. Treasury secretary Steven Mnuchin will also discuss the administration’s plans for infrastructure spending and financial and regulatory reform when he meets with his counterparts in Bari, Italy.
The Bank of England readies itself for “Super Thursday.” The pound soared ahead of the BoE’s quarterly economic outlook and interest rate decision. Experts believe that higher inflation could justify a rate hike in the near future.
While you were sleeping
Right before he was fired, James Comey asked to expand the Trump-Russia investigation. Before getting the boot yesterday, the FBI director reportedly requested “a significant increase in resources” as he continued his probe of the Kremlin’s involvement in the 2016 US election. Comey has been invited testify in a closed session before the Senate Intelligence committee next week.
Snap’s first quarterly results were dismal. The fledgling social media company posted slower user growth than analysts expected, sending its shares plummeting by more than 20%. It cost Snap $2.3 billion to generate just $149 million in revenues, leading to a massive quarterly loss.
Boeing grounded its new 737 Max jetliner. Days before the fastest-selling jetliner in Boeing’s history was due to be delivered to airlines, a supplier found an issue with the plane’s turbines. The company said it still expects to make the first delivery of the 737 Max this month, but the news sent shares down by 2.1%.
German prosecutors started a new investigation over Volkswagen’s emissions scandal. They’re examining whether executives at Porsche, the holding company that controls VW, manipulated the stock market by delaying the disclosure of the massive scandal in 2015.
Tesla launched its solar roof program. The electric carmaker began taking orders for custom-made glass roof tiles that can generate electricity, in the wake of its acquisition of Solar City last year. Prospective buyers can use an online calculator to estimate the value of their home’s potential solar energy.
Quartz obsession interlude
Michael Coren on the math behind Elon Musk’s moonshots: “Whether it’s reaching Mars or boring tunnels through the earth, the CEO of Tesla and SpaceX loves to talk about basic math. On investor calls and press conferences, Musk often muses on the addition, subtraction and multiplication of what he’s trying to do.” Read more here.
Markets haiku
$2.2 billion: / GDP of Bhutan, and / Snap’s first-quarter loss.
Matters of debate
The next financial crisis needs a playbook. Bill Gates, Jeff Bezos, and Michael Bloomberg are giving 0.004% of their net worth to write one.
Automation isn’t killing enough jobs. Sectors like health care are too resistant to robots.
Fighting climate change means cutting back on steak. Former US president Barack Obama has some ideas about reshaping agriculture.
Surprising discoveries
Southern Comfort is getting a remake that adds whiskey. That may surprise many drinkers who thought it was already there.
Scientists have found a familiar new species of dinosaur. The ankylosaur bears an an uncanny resemblance to the demigod Zuul from “Ghostbusters.”
The Jovian moon Io has huge waves you wouldn’t want to surf. They consist of molten lava.
Cigarette companies are getting more profitable as people smoke less. Smokers are paying way more to feed their addictions.
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