Facebook Told to Face Up to Extremism After New Zealand Attack (Bloomberg)
Australia’s prime minister has urged the Group of 20 nations to use a meeting in June to discuss a crack down, while New Zealand media reported the nation’s biggest banks have pulled their advertising from Facebook and Google. New Zealand Prime Minister Jacinda Ardern told parliament on Tuesday: “They are the publisher, not just the postman. There cannot be a case of all profit, no responsibility.”

2020 Watch: Trump Exploits Facebook — Again (Axios AM)
President Trump’s re-election campaign has quietly spent nearly twice as much as the entire Democratic field combined on Facebook and Google ads. Political advertising strategists say that this level of ad spend on digital platforms this early in the campaign season is unprecedented.

Putin Signs Law Against ‘Fake News,’ Disrespect of State (Bloomberg)

Brexit Latest: Ten Days To Go Before We Might Go Off The Cliff:
-EU Plans to Give Theresa May One More Chance on Brexit Deal Vote (Bloomberg)
-Orrdurrr! Orrdurrr! Theresa May’s Brexit Stuck Between Brussels and John Bercow (Bloomberg Politics)
-Interview: Angela Merkel Vows to Fight to the Very End for an Orderly Brexit (Bloomberg)

Climate Today:
America Cares About Climate Change Again (The Atlantic)
Michael Bloomberg, who has made climate a signature issue, announced that he would not run for president because his considerable fortune would be better spent fighting carbon pollution directly. Instead, he will fund a new campaign called Beyond Carbon for the Sierra Club, an extension of the club’s wildly successful Beyond Coal campaign, also bankrolled by Bloomberg. Beyond Coal says it has helped close 285 of the country’s 530 coal plants, a major reason for the overall decline in U.S. carbon emissions.

Record Floods in U.S. Midwest Bring New Toll When Farmers Can Least Afford It (New York Times)
Farmers and ranchers fear that this natural disaster will become a breaking point for farms weighed down by falling incomes, rising bankruptcies and the fallout from President Trump’s trade policies.

Africa’s Booming Cities Are Running Out of Water as Two Billion People Globally Live in Water-Stressed Nations (Bloomberg)

Financial Regulation Today: Is MiFID II a Global Regulatory Blueprint? Transparency Mandate is Gaining Global Momentum (Curatia)

Deep Dive: Risky Business with Trump’s Deutsche Bank Loans (New York Times)

In Memorium: Alan Krueger Led a Quiet Economics Revolution (Bloomberg Opinion – Noah Smith)
The Princeton professor and former chair of President Obama’s Council of Economic Advisors upended the field by relying on data instead of airy theory.

For the Trend-Obsessed: Instagram Will Now Let You Buy Things Directly Through the App (Bloomberg)

Best of late night.

On the U.S. college admissions cheating scandal:

“The college admission scandal is still going on. Yeah, a prominent psychiatrist said that Felicity Huffman, Lori Loughlin and many other celebrities suffer from something called ‘acquired situational narcissism’. Yeah, I stopped reading the article because it wasn’t about me.”
— Conan O’Brien

On sleep experts urging Apple to drop the 9 minute “snooze” button on its alarm clock app:

“I saw that health experts are saying that the snooze button is bad for your health, and they’re telling Apple to take the feature off of their phones. In response, Apple is like ‘OK we will take it off, just give me like 9 more minutes, ok?’”
— Jimmy Fallon

On the Facebook and Instagram outage last week:

“The Facebook and Instagram outage affected people all over the world. Some people wound up going on Twitter instead. Even Facebook was tweeting. Facebook tweeted! Then Twitter saw their tweet, and they actually decided to post on LinkedIn. Well.. then LinkedIn saw that, and decided to update their Tinder bio.”
— Jimmy Fallon