EgyptAir wreckage, Art Basel opens, wild monkey siege

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

The Bank of England makes its interest rate decision. The central bank is expected to maintain the status quo (paywall). The US Federal Reserve did the same yesterday, acknowledging thatBritain’s possible exit from the European Union was a factor in the decision.

China’s Midea goes public with its bid for a German industrial robot maker. Midea will reportedly publish the details of its $5 billion offer for Kuka. German politicians have opposed the deal, complaining that Beijing does not allow Western companies the same opportunities to invest in Chinese firms.

Art Basel opens in Switzerland. The world’s largest modern and contemporary art fair will showcase the work of more than 4,000 artists.

WHILE YOU WERE SLEEPING

Wreckage of the missing EgyptAir flight was found at sea. The deep sea search vessel that found it also sent back the first imagesof the wreckage. There were 66 people on board flight MS804 when it crashed on May 19 en route from Paris to Cairo.

A Chinese internet giant is about to buy a Finnish video game company. Tencent is reportedly in late-stage talks to buy a majority stake in Supercell, maker of the “Clash of Clans” mobile game, from Japan’s SoftBank Group. The deal would value Supercell at about $9 billion.

Shanghai Disney’s held its grand opening. The entertainment giant has been working for decades to open its $5.5 billion theme park. The event was partially overshadowed by tragedy in Orlando, where a young boy was killed by an alligator at a Disney resort.

Didi Chuxing secured another $7 billion in funding. The Uber rival has raised about $10 billion to cement its lead in China’s massive ride-hailing sector—including a $1 billion investment from Apple. Didi is now valued at more than $25 billion.

QUARTZ MARKETS HAIKU

Barely audible
Over the noisy market
A dove is cooing

QUARTZ OBSESSION INTERLUDE

Ana Campoy on how “the old Cuba” has already disappeared.“A Canadian traveler I met in Cuba’s uber-touristy enclave of Varadero told me she had made a point of booking her trip for this year, so she could catch a last glimpse of the Communist-ruled island before it changes. She got there too late. Our mojitos already had mint.” Read more here.

MATTERS OF DEBATE

Orlando was not the US’s deadliest mass shooting. There is a long history of violence against minorities and gays that was just as bad, or worse.

Netflix is threatened by its own revolution. The streaming servicemay not be able to survive (paywall) in the brave new world of streaming TV.

The US is failing its youngest generation. More than 20% of children live below the poverty line, including more than half of those in public schools.

MESSAGE FROM OUR PARTNER

Next week, Quartz is partnering with Cannes Lions to bring you the Cannes Daily Brief—a special, media-focused edition of the email you’re reading right now. Quartz executive editor Zach Seward will be on the ground to cover the festival’s events and related industry news and insights. If you’re in the media business, or you just like learning about it, sign up for the email for free here.

SURPRISING DISCOVERIES

London wants to make its subway font quirky again. “Johnston” lost some of its unique sensibility when it was adapted for the digital age.

A Chinese village is under siege from wild monkeys. A plan to attract more tourists massively backfired.

The latest weight loss device is super gross. It drains your stomach contents after every meal.

Siberia has a “gateway to the underworld.” That’s the name locals have given a huge crater that opened up due to climate change.

A scammer sold phony bomb detectors to war-torn countries.The useless devices resulted in the deaths of hundreds of people.

Our best wishes for a productive day. Please send any news, comments, monkey repellent, and underworld portals to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

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