We begin the week from Beijing. The big news here: China won its ninth consecutive title at the 2018 World Team Table Tennis Championships in Sweden. Did anyone really think the Germans stood a chance in the finals? It’s fitting, Chinese global confidence is high and it appears to be playing against less practiced adversaries in foreign capitals.

Also over the weekend, undefeated colt Justify won a very muddy 144th running of the Kentucky Derby. And (see link at end) an all-star cast, including the real Stormy Daniels, opened Saturday Night Live, a skit for the SNL history books.

Trump will make his own news this week and possibly announce the location of a North Korean summit and pull out of the Iran deal, as trade wars brew with China, Mexico, Canada, and Europe.

Oil Surges: Oil punched through $70 a barrel for the first time since November 2014 as a May 12 deadline looms for the U.S. to scrap or stay in a nuclear deal with Iran. President Trump has threatened to nix the accord but signaled he’d be open to negotiation. Iran’s President Hassan Rouhani warned the U.S. would quickly come to regret killing it. (Bloomberg Daybreak)

Final Pitches Coming In as Trump Weighs Whether to Exit Iran Deal (Bloomberg)

Two New Hotspots: China is ordering 36 airlines to purge their websites of references to Hong Kong, Macau and Taiwan as separate countries, and China is quietly setting global industrial and tech standards. (New York Times and Bloomberg Opinion)

Money hasn’t made Stephen Schwarzman universally beloved. But who cares? The Man Who Bought New York (New York Times)

Graphic of the Day: A record number of women have stepped up for U.S. House and Senate races — 527 and counting — with more than a dozen states still accepting new candidates for the November mid-terms that will determine control of Congress. That’s up 67 percent from 2016. Record Number of Women Running for Office (Bloomberg)

How the Mission to Restore Puerto Rico’s Power Grid Stumbled Badly: It took months to restore electricity in Puerto Rico after hurricanes dealt a one-two punch. Many homes are still without power, and the system’s future is far from certain. (New York Times)

Good News Story of the Day: Thrifty Brooklyn Secretary Leaves $8 Million for Needy Students (New York Times)

Bloomberg Insider: Bloomberg TV Anchor Francine Lacqua Receives Order of the Star of Italy (Bloomberg Media Forum)

Headlines from around the world.

The Guardian (UK): Boris Johnson uses Fox & Friends to urge Trump to stay in Iran deal

China Daily: China seeks public comments on draft China Depository Receipt rules

Japan Times: Japan is struggling to deal with the foreign tourism boom

The National (UAE): Road signs pointing to US embassy go up in Jerusalem

Moscow Times: Putin takes inaugural ride in Russian-made limousine

Best of late night.

“Trump has two new friends: Rudy Giuliani and Kanye West. He joined a new dating site – OK Stupid.”
— Bill Maher

“Just when you think Trump can’t be more thin-skinned, apparently the reason for this raid on his doctor’s office is that he was so mad at his doctor for revealing to the media that Trump takes Propecia, you know the hair drug? Trump shouldn’t be embarrassed that he takes Propecia. Propecia should be embarrassed that they’re responsible for Trump’s hair!”
— Bill Maher

And finally: An all-star cast opened Saturday Night Live this weekend with a take on wiretapping the phone line of President Trump attorney Michael Cohen. Click here to watch.