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Quote of the Day

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design - Friedrich August von Hayek

Word of the Day

Garrulous - given to prosy, rambling, or tedious loquacity : pointlessly or annoyingly talkative

In the news...

The European Parliament takes a turn at grilling Mark Zuckerberg.The Facebook CEO’s meeting with MEPs, focused on the company’s Cambridge Analytica scandal and its impact on up to 2.7 million EU citizens, will be live-streamed at 6:15pm Brussels time.

South Korea’s president visits the White House. Moon Jae-in will meet with Donald Trump to discuss North Korea’s predictably unpredictable about-face, which sparked concern that Pyongyang might cancel the June 12 summit in Singapore.

Shell’s annual general meeting. The Anglo-Dutch oil giant will face its shareholders in The Hague. The company is under pressure from activist investors pushing for oil companies to reduce their carbon footprints.

Sony said it will buy out EMI Music Publishing. The Japanese giant wants to boost its music portfolio, and the record label has some 2 million songs by the likes of Queen, Alicia Keys, and Pharrell Williams. Sony will get a controlling stake for about $2.3 billion (paywall). CEO Kenichiro Yoshida noted “the music business has enjoyed a resurgence.”

Netflix signed a production deal with the Obamas. The former US president and first lady will create programs for the streaming-video giant, “potentially including scripted series, unscripted series, docu-series, documentaries and features.” The first will land in 2019, and are not expected to be about politics; terms were not disclosed.

An Australian court convicted an archbishop for concealing child sex abuse. Philip Wilson, the archbishop of Adelaide, faces a maximum penalty of two years in jail. The offense dates back to the 1970s, when a teenager told Wilson he’d been abused by another priest, James Fletcher, who was found guilty in 2004 of nine counts of child sexual abuse.