| By Derek Caney (@stax920)
The Egyptian navy said it found the personal belongings of passengers and other debris from EgyptAir Flight MS804 floating in the Mediterranean, confirming that the plane had plunged into the sea. Although fingers pointed towards Islamic militants who blew up another airliner over Egypt just seven months ago, no group has claimed responsibility.
Over the past three months, Tesla told suppliers that it would double its original production estimates of its Model 3 in 2017 and 2018. But consultants raised doubts that Tesla could hit those numbers.
Digit of the day: 1
Shouts of "Shame, shame, shame," erupted in the House of Representatives as Republican lawmakers defeated legislation to protect the civil rights of lesbian, gay, bisexual and transgender employees of government contractors by a single vote. The measure was set to pass, but Republican leaders extended the time allowed for the vote and urged enough of their members to change their ballots.
Welcome home 
Amina Ali Darsha Nkeki, a Nigerian schoolgirl rescued after more than two years of captivity by Boko Haram militants, presents her child to President Muhammadu Buhari in Abuja, Nigeria, May 19, 2016. REUTERS/Afolabi Sotunde
Around the world - Hey, China, drop the historical baggage, exhorted Taiwan's new president in her inauguration speech. Tsai Ing-wen, the country's first female president, said Taiwan would play a responsible role and be a "staunch guardian of peace" with China. China's Taiwan Affairs Office said her remarks were an "incomplete answer" on the nature of relations between the two sides, warning that China viewed any push for Taiwan independence as "the biggest menace to peace across the Taiwan Strait."
Quote of the day:
"The two governing parties across the Strait must set aside the baggage of history and engage in positive dialogue for the benefit of the people on both sides." – Taiwan President Tsai Ing-wen
- President Barack Obama has a dilemma in people like Huynh Ngco Chenh. He is a dissident who challenges Vietnam's Communist government. Six men watch his house and follow him when he leaves, he says. His protests and many similar actions could affect the United States' decision on whether to lift an arms embargo on Vietnam.
- And that's only one of Obama's dilemmas on his tour of Asia. Obama doesn't plan to apologize for the 1945 bombing of Hiroshima, when he visits the city next week. Japanese Prime Minister Shinzo Abe doesn't plan to apologize for his country's transgressions in World War Two. Neither country has much of an appetite to re-litigate the 71-year-old decision to use the atomic bomb, but that history will hover over Obama's diplomatic visit.
Around the country - A federal judge upheld a 2013 Virginia voter ID law requiring prospective voters to show approved photo identification before they cast their ballots. The state's Democratic Party had challenged the law, saying it was politically motivated and intended to deter young and minority voters from turning out on Election Day.
- An Oklahoma bill that could imprison any doctor who performs an abortion heads to the governor's desk. The bill makes abortion a felony punishable by up to three years in prison. It was approved by the Republican-dominated Senate. Governor Mary Fallin, a Republican opposed to abortion, has not indicated whether she will sign it. Pro-choice proponents promise to challenge the law in court if it's signed.
- Golf icon Phil Mickelson plans to pay $1 million to resolve claims from his role in an insider trading scheme involving former Dean Foods chairman Thomas Davis and a professional gambler. Mickelson wasn't criminally charged in the scheme. But he was named in an SEC civil suit as having received ill-gotten gains from someone else's crimes.
Around Wall Street - Bangladesh's central bank wasn't the only institution swindled by hackers. Banco del Austro in Ecuador lost $12 million in transactions over the SWIFT transaction system. Thing is, SWIFT has no rule that requires clients to report hacking thefts. In fact, banks often don't report hacks because it's embarrassing and makes the banks look vulnerable. Consequently, no one has a complete picture of the cyber thefts committed over the network.
- Valeant, the drugmaker under fire for its accounting and its business practices, could be in default from bondholders if it doesn't file its first quarter earnings report by July 18.
- A group seeking to reduce U.S. dependence on foreign oil called on policymakers to remove regulatory hurdles in order to accelerate the deployment of self-driving cars. It also wants to revise tax incentives to boost sales of less expensive electric vehicles.
Today's reason to live Bash & Pop – Friday Night Is Killing Me |
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