| What Happened, Why it Matters | | | May 27, 2015 FIFA Officials Arrested | Floods Plague Southern U.S. | Thieves Hack I.R.S. Returns | Will France Take Less Time Off? |
|  | | Dark road ahead for FIFA? Six top officials have been arrested and await extradition to the U.S. to face federal corruption charges. Source: Corbis |
| | | They've been red-carded. Swiss authorities apprehended six officials from international soccer's governing body early today, politely escorting them from their hotel to be extradited to the U.S. on federal corruption charges. Feds say up to 14 suspects have been involved in "institutionalized" wrongdoing linked to World Cup bids, with charges including racketeering and money laundering. Legal wrangling could further weaken the scandal-dogged organization and threaten its longtime president, Sepp Blatter, who's expected to be elected to a fifth term on Friday, despite some calling for his resignation. NYT, BBC |
| | Water, water everywhere. The southern U.S. is digging out after torrential rains and tornadoes killed at least 17. Parts of Houston, America's fourth-largest city, remain underwater as workers battle to clear roads littered with debris and abandoned cars, and to restore power to 100,000 homes. Texas Gov. Greg Abbott has declared 40 counties disaster areas, and President Obama has pledged federal funding. But that doesn't mean Mother Nature is done: Heavy rain remains in the forecast, and with several still missing, the death toll is likely to rise. Reuters, BBC, USA Today |
| | | | Financial aid turned into a financial raid. A record-finding tool called Get Transcript — meant for downloading old returns with information needed for loan applications — has been hacked by identity thieves. Posing as legitimate taxpayers, an organized crime syndicate is suspected of using stolen personal information to claim $50 million of other people's tax refunds, and authorities fear this could lead to fraudulent bank or credit card accounts being opened. The I.R.S. has shut down the tool to bolster security and plans to notify all affected parties by mail. Forbes, CNN Money, NYT |
| | They're going it alone — and going public. Founder Evan Spiegel, 24, says he's not interested in being acquired, referring to Facebook's $3 billion offer. Instead he's planning an initial public offering at an undisclosed date. Spiegel admits that the messaging app startup — valued at $15 billion in March, up from $10 billion last year — has yet to prove it can generate income from ads, but hopes to forge additional revenue streams and IPO strength in a bid to stick around longer than all those fleeting messages.
FT (sub) |
| BRIEFLY... Libyan prime minister escapes assassination attempt. (Al Jazeera) Court refuses to lift block on Obama's immigration plan. (WSJ) sub Hamas accused of human rights abuses in Gaza. (AP) EU set to unveil migrant quota plan. (BBC) Taliban claims deadly attack on Kabul guesthouse. (DW) |
| | | They've been saying "oui" to a 35-hour work week since 1998, with employees enjoying 27 vacation days a year. Originally meant to reduce unemployment, those standards are now under fire, with some companies wanting to lay off that brand of socialism. At energy giant EDF — where overtaxed staff work 39.5 hours, netting an extra 23 days for a whopping 10 weeks of annual leave — bosses are now dangling bonuses as incentives to scale back to just seven weeks in order to compete with the rest of the working world. Quartz, Management Today |
| | It was a natural choice. The fast food giants are tossing artificial ingredients by the end of the year, hoping to boost sales in an increasingly health-conscious marketplace. Nacho and pizza cheeses will lose their yellow No. 6, and the end is nigh for seasoned beef's fake black pepper flavoring. The plans to alter nearly every menu item have some diners kicking up a fuss, and naturally, the makeover will have little effect on fat content. But others are applauding the change and hope more restaurants follow suit. The Verge, ThinkProgress |
| | It's meant to pump blood, not whiskey. A study of 4,500 seniors with an average age of 76 found that drinking can threaten the heart's structural integrity, especially in women. Researchers found that even modest amounts of alcohol on a regular basis can cause females' heart muscles to deteriorate in small but significant ways, while men should limit themselves to two tipples a day to avoid damaging their most vital organ. The study, which contradicts earlier research, is unlikely to change current U.S. guidelines, but bolsters recommendations to drink in moderation. LiveScience, WebMD |
| | Those neon lights are shining brighter than ever. The Big Apple's theater hub has been raking in the cash with record attendance and box office grosses this year, thanks to revitalized tourism and new smash hits joining the pantheon of long-running stalwarts. Shows like An American in Paris led the newcomers this season, which saw an unprecedented 13.1 million attendees shell out $1.37 billion for perennial musical favorites and celeb-driven plays, all of which are vying for gold at the Tony Awards on June 7. Variety, NYDN |
| | Cleveland is rocking. After sitting out two games with an injury, point guard Kyrie Irving didn't miss a beat, leading the Cavs to a 118-88 victory over top-seeded Atlanta last night to take the Eastern Conference title. LeBron James — who nearly averaged a triple-double in the series — will make his fifth straight appearance in the finals, this time looking to deliver Ohio its first ring since 1964. Meanwhile, the hobbled Hawks will watch from home as the Cavs face the Warriors or Rockets for the NBA title. ESPN |
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