| Brazil's Senate impeached President Dilma Rousseff for breaking budget laws, signaling the end of 13 years of rule by the leftist Workers Party in the country. The vote came after a daylong debate with dozens of speeches and clashes between police and the president's supporters in the capital. She will be suspended from office for up to six months during the trial. 
Demonstrators against the impeachment of Brazil's President Dilma Rousseff shout slogans during clashes with the police in Brasilia, Brazil, May 11, 2016. REUTERS/Paulo Whitaker
Digits of the day: 260 percent
As the number of earthquakes in Oklahoma exploded into the hundreds in the last few years, nearly a dozen insurance companies moved to limit their exposure, often at the expense of homeowners. Six insurers hiked premiums by as much as 260 percent and three increased deductibles. Three companies stopped writing new earthquake insurance altogether. And the earthquakes? Scientists think they're linked to fracking.
After spending 11 months telling everybody that he would be a more independent candidate because he's personally funding his own campaign, Donald Trump sent his top fund raisers to charm hedge fund managers in an effort raise $1 billion for the general election. Quote of the day "Candidate Trump has said some things that some business people think: 'Jeez, if I'm associated with some of those things, it could be perceived negatively for my business.' I think that will wash away in the next two months." – Anthony Scaramucci, head of Skybridge Capital and a major Republican fundraiser
Around Wall Street - Nissan is spending $2.2 billion to take over Mitsubishi Motors, which is reeling from the admission that it overstated the fuel economy of at least four of its models. The scandal has wiped $3 billion off Mitsubishi's market cap.
- For the first time, rival television networks are not going to cede the ratings race to NBC during the Olympics. In the past, they fell back on reruns or cheap programs. But this year, CBS and Discovery, to name just two, are betting on new programs and older, popular ones to steal eyes away from the Olympics.
- Unplanned disruptions to oil output could help run down a global glut of crude this year, while demand will profit from growing gasoline consumption, particularly in India and China, the International Energy Agency said. Crude oil prices were up 1 percent this morning to about $47 a barrel. Prices have rebounded 80 percent from February, when a barrel of the stuff slid to its lowest price since 2003.
Around the world - Abortion rates have dropped dramatically in the past 25 years to historic lows in wealthy countries, but dipped only slightly in poorer nations, according to a global study by the World Health Organization and the Guttmacher Institute. The study also found that imposing restrictive laws does little to lower abortion rates, but is more likely to force people into having unsafe terminations.
- The United States plans to switch on an $800 million missile shield in Romania capable of shooting down rockets from Iran. The shield is part of an umbrella that stretches from Greenland to the Azores. Tomorrow, the U.S. will break ground on a final site in northern Poland that should be ready by the end of 2018, completing the shield first proposed almost a decade ago. It also includes ships and radar installations across Europe.
- Vietnam would welcome the United States "accelerating" the lifting of a lethal arms embargo, which would reflect trust between the two countries and recognition of its needs to defend itself, its foreign ministry said. The comments come ahead of a visit by President Barack Obama. The arms embargo, eased in 2014, is one of the last major vestiges of the Vietnam War era.
Around the country - The man accused of killing three people and wounding nine others in a shooting rampage last year at a Planned Parenthood clinic in Colorado, was declared mentally unfit to stand trial. The ruling effectively halts criminal proceedings against the man, Robert Lewis Dear, who has called himself "a warrior for the babies." He also called the presiding judge a "filthy animal" as he was led out of the courtroom.
- A Texas judge upheld his April order of a nearly two-year jail term for the Texas "affluenza" teenager, who killed four people while driving drunk three years ago, when he was 16. His defense at the time was essentially that he was too rich to know what he was doing. After being given probation, he then fled with his mother to Mexico, where they were later captured.
- A sled about the size of a car rocketed through the Nevada desert at 100 miles an hour, powered by electromagnets. The makers of the sled call it the Hyperloop. It's one of several companies inspired by Elon Musk's idea of sending passengers inside giant vacuum tubes between Los Angeles and San Francisco.
Today's reason to live Gilberto Gil – Bat Macumba |
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