Uber Execs in the Clink, Greece on the Brink & Other Must-Reads

To the Bastille! The two most senior European Uber executives in France were taken into custody for, well, being Uber — i.e., running a taxi service in violation of local law. The charges again Uber France CEO Thibaud Simphal and Uber Europe GM Pierre-Dimitri Gore-Coty did not include anything stemming from last week’s violent protests against the company. “But,” as TechCrunch’s Romain Dillett notes, “it’s hard to rule out a link between the two events.” The pair could be held up to 24 hours, according to the Paris prosecutor. Uber played it all down. “Our general managers for France and Western Europe today attended a hearing with the French police. We are always happy to answer questions the authorities have about our service — and look forward to resolving these issues,” Uber said in a statement. “Those discussions are ongoing.”

How to Live in Greece on 60 Euros a Day: With Greek banks closed for the week, €60 — about $67 — is all you can get from your account, via an ATM. That is, if you can find one that still dispenses cash; Bloomberg reports that at least 500 of the nation’s 7,000 machines have already run out. There is no panic. Large crowds in the cradle of democracy turned out to urge the rejection of lender terms in the July 5 referendum on the theory this would strengthen the hand of PM Alexis Tsipras (Here's a helpful explainer of what is at stake from The Wall Street Journal). But well before Sunday — tomorrow, in fact — Greece is expected to run out of money and miss a $1.72 billion payment. After that it's unclear how this plays out. European leaders "insisted" that a deal was still possible to mitigate the debt crisis. "But they gave no indication that this could happen before Athens runs out of cash," reports Andrew Higgins of The New York Times. And late Monday Standard & Poor's downgraded the country. The ratings company also placed the odds Greece would exit the EuroZone at "about 50%" and declared: "Absent unanticipated favorable changes in Greece's circumstances, a commercial default is inevitable within the next six months." 

Chart of the Day:

The Supreme Court blocked an EPA rule designed to limit emissions of mercury and other toxic pollutants from coal-fired power plants. In one of its final decisions of the session, the Court determined that the EPA had not properly conducted a cost/benefit analysis of the rule in violation of the Clean Air Act’s requirement that such regulations be “appropriate and necessary.” The rule has not been invalidated, however, just bumped back for compliance. “The E.P.A. will have to do more homework on costs,” Sean Donahue, who represented clients on the losing side, told The New York Times. “It’s a bump in the road, but I don’t think by any means it’s the end of this program.”

Pending home sales rose to the highest level in nine years. It was the second bit of positive data released by the National Association of Realtors in as many weeks — last week NAR reported that “ sharp pickup in existing home sales following a dip in April,” writes David Harrison in The Wall Street Journal. “The steady pace of solid job creation seen now for over a year has given the housing market a boost this spring,” NAR chief economist Lawrence Yun said.

Quote of the Moment:

"The trademark of the boomer was that they wanted familiarity, safety, and comfort," says Wolfgang Lindlbauer, chief discipline leader, global operations at Marriott International. "... what we’re finding is that the next-generation consumer wants the exact opposite of what we’re delivering."

PULL! In what surely must be a first, a California man has won a judgement against a neighbor who shot his drone out of the sky. Eric Joe was flying what he described to Ars Technica as a “homemade hexacopter drone” when he heard a loud bang he immediately recognized as a 12-gauge shotgun blast and “watched his drone fall from the sky.” Joe and the shooter, Brett McBay, exchanged what began as cordial emails but couldn’t agree on damages. Joe sued in small claims court and won $850 in damages. He’s yet to collect and his attorney — also his cousin — says they’ll take legal more action if they have to. Rather than, I guess, ringing McBay’s doorbell without warning. (Hat Tip to Brandon Duncan)

Cover Art: Protesters participate a demonstration in front of the Greek parliament in Athens on June 29, 2015. Greece shut its banks and the stock market and imposed capital controls after creditors at the weekend refused to extend the country's bailout past the June 30 deadline, prompting anxious citizens to empty ATMs. (ARIS MESSINIS/AFP/Getty Images)

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