| By Derek Caney (@stax920)
Thousands of U.S.-backed fighters in Syria launched an offensive to capture a crucial swathe of northern Syria from Islamic State, following weeks of quiet preparations. The operation will try to choke off Islamic State's access to Syrian territory along the Turkish border that militants use to move foreign fighters back and forth to Europe.
Wish you could have profited from other people's misery? You could have enrolled in Trump University's 2009 course, "Fast Track to Foreclosure Investing." Or you could have learned how to "capitalize without harm" and find ways for "sellers to move on without shame," according to a December 2008 summary of the seminar. Roughly 400 pages of Trump University documents were unsealed by a federal judge as part of a lawsuit against the now-defunct program.
Regulators in Hong Kong and Singapore have asked banks to disclose if they have dealings with entities and individuals named in the leaked 'Panama Papers,' the trove of leaked documents that contain details on thousands of shell firms. We don't yet know which banks got the requests. Hong Kong and Singapore were two of the busiest offices for Mossack Fonseca, the Panamanian law firm whose documents were leaked.
Dragon Dance 
Students learn to perform a dragon dance under the instruction of a local artist at a playground in Chongqing, China, May 30, 2016. REUTERS/Stringer
Around the world - Young dissidents in Egypt say the government has expelled hundreds of university students, torturing some of them and hurting their chances of studying elsewhere. Some say they have been forced to flee lest they wind up in Egyptian prison for opposing President Abdel Fattah al-Sisi's government.
- Thousands of evacuees who fled a massive wildfire in the Canadian oil hub of Fort McMurray are set to return home on Wednesday, though concerns ranging from contaminated drinking water to insurance claims linger as the city seeks to rebuild.
- Malaysia may take a harder line against China in the South China Sea territorial dispute, after some acts of possible intimidation by Chinese authorities and aggressive fishing expeditions by 100 Chinese vessels.
Around the country - Donald Trump picked up another endorsement today: The government of North Korea.
Quote of the day: "It turns out that Trump is not the rough-talking, screwy, ignorant candidate they say he is, but is actually a wise politician and a prescient presidential candidate." - DPRK Today - Also in the dubious endorsement department, Venezuela's embattled president, Nicolas Maduro, said he supported Bernie Sanders, adding that the candidate, who describes himself as a democratic socialist, would win if the vote were "free." "Bernie Sanders, our revolutionary friend, ought to win in the United States," Maduro said during an hours-long televised broadcast.
- Opponents of a ruling that gave a Virginia transgender high school student access to the bathroom of his gender identity were dealt a blow, when a U.S. appeals court declined to refer the case to the full panel of 15 judges. A three-panel judge ruled in favor of the student, Gavin Grimm, last month. At issue is whether the 1972 Title IX Act, which bars discrimination by schools that get federal funding, applies to transgender students. And you can be reasonably sure that we haven't heard the last of this issue.
Around Wall Street - SoftBank plans to sell at least $7.9 billion in Alibaba shares, its first sale of shares in the company since Softbank began investing in Alibaba in 2000. SoftBank, Alibaba's largest shareholder, will cut its stake to around 28 percent from 32.2 percent. SoftBank has been racking up debt since its 2013 takeover of Sprint.
- Microsoft is selling about 1,500 of its patents to Chinese device maker Xiaomi, in a deal that puts Microsoft software on Xiaomi devices. Microsoft has cut licensing deals with many Android device makers over the years, but has had less luck with Chinese manufacturers.
- Michael Dell and Silver Lake Partners underpriced their 2013 $24.9 billion buyout of Dell by about 22 percent and may have to pay tens of millions to investors who opposed the deal for the computer maker, a Delaware judge ruled. The ruling, which applies to about 5.5 million Dell shares, is a victory for the specialized hedge funds that have increasingly tried to squeeze more money from mergers using a type of lawsuit known as an appraisal.
Today's reason to live Lou Reed – The Blue Mask |
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