| By Derek Caney (@stax920)
Boris Johnson bailed out of the race to replace David Cameron as Britain's prime minister, conceding the field to his one-time Brexit ally, Justice Minister Michael Gove. The two men led the campaign for Britain to leave the European Union for the Conservative Party. But Gove said this morning he had come "reluctantly, to the conclusion that Boris cannot provide the leadership or build the team for the task ahead."
Boris with the bathwater 
Boris Johnson speaks on the BBC's Andrew Marr Show, June 5, 2016. Jeff Overs/BBC/Handout
The so-called Three Amigos – President Barack Obama, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto – mounted a vociferous defense of globalization and the North American Free Trade Agreement, at a time when such trading blocs are under attack in the United States, Britain and elsewhere. Quote of the day: "The integration of national economies into a global economy: that's here, that's done. And us trying to abandon the field and pull up the drawbridge around us is going to be bad for us." – President Obama
Digits of the day: 27 Two Taliban suicide bombers killed at least 27 police and wounded about 40 in an attack on buses carrying recently graduated police cadets on the western outskirts of Kabul.
Around Wall Street - U.S. units of Deutsche Bank and Santander failed the Federal Reserve's stress tests that determine how banks would fare in a financial crisis – tests that seem rather timely given the volatility created by the Brexit vote. Both banks failed because of poor risk management and financial planning, not for lack of capital, the Fed said. Santander's U.S. bank is the first to fail the test three years in a row. For Deutsche, it's the second consecutive failure.
- In another Brexit reverberation, China's central bank is willing to let the yuan weaken further in order to support its economy, a move that will almost certainly trigger criticism from the country's trading partners. Presumptive Republican nominee Donald Trump has already accused China of currency manipulation. A surprise devaluation of the yuan last August sent global markets into a spin on worries the world's second-biggest economy was in worse shape than Beijing had let on.
Around the country - The grave risks associated with Zika are driving U.S. health authorities to pursue research even though funding is mired in Congressional gridlock. A study of sexual transmission risk is one example of science that health officials said can’t wait for politics.
- President Obama plans to sign a bill that helps Puerto Rico address its $70 billion debt, but it won't eliminate the U.S. territory's default risk on July 1.
- A federal judge cleared the way for Ohio's secretary of state to strip thousands of inactive voters from the rolls, rejecting a legal challenge by civil liberties activists who said the purge disenfranchised minorities and the poor.
Around the world - China suggested U.S. Defense Secretary Ash Carter brush up on his history after urging Beijing not to build a "Great Wall of self-isolation," noting the Great Wall was build to keep out invaders not as a hindrance to contact. Chinese Defense Ministry spokesman Wu Qian quipped, "It was to keep out the cruel oppression of invaders, not friendly envoys or free trade." Carter made the remarks at a security dialogue in Singapore this month.
- Three suspected Islamic State suicide bombers who killed 42 people in a gun and bomb attack at Istanbul airport this week were from Russia, Uzbekistan and Kyrgyzstan, a Turkish government official said.
- Rodrigo Duterte was sworn in as the Philippines' 16th president, capping the unlikely journey of a provincial city mayor whose brash style and pledges to crush crime swamped establishment rivals in last month's election.
Today's reason to live Sex Pistols – Anarchy in the UK |
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