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Today’s Big Story

Golf rivals PGA Tour and LIV Golf agree to merger

The PGA Tour and Saudi-backed breakaway tour LIV Golf, agreed to merge on Tuesday in a move that stunned the sports world.

Why it matters: The merger stops ugly litigation that involved the two tours and puts the PGA in an awkward situation of joining forces with an organization that it’s been trashing for human rights abuses.

Backstory: The Saudi government created a new golf league (LIV) and began recruiting PGA tour players with huge signing bonuses. Major names in golf including Dustin Johnson, Brooks Koepka, and Phil Mickelson signed with the upstart league and were kicked off the PGA tour. Some of the players sued the PGA tour challenging the suspensions and the PGA tour countersued.

Deal details: LIV’s financial backer, Saudi Arabia’s Public Investment Fund (PIF), will be the sole investor in the new venture, which combines the PGA Tour, LIV Golf, and Europe’s DP World Tour. Exact financial terms were not disclosed.

Big Picture: The PGA Tour’s decision to partner with the PIF drew strong criticism as the tour often pointed out Saudi Arabia’s human rights abuse record as a reason not to join the league. Now, they’re officially business partners.

What’s next? The three groups will develop a fair and objective process for any player that wants to re-apply for membership on the PGA Tour or DP World Tour.

Little Stories

Business & Economy

*U.S. stock markets closed higher on Monday (S&P +0.24%, Nasdaq +0.36%, Dow +0.03%) ~ Coinbase dropped 12% after the SEC sued the crypto company.

*Restaurant chain Cava eyes a $2.12 billion valuation in its U.S. initial public offering.

*Tesla’s Model 3 is cheaper than a Toyota Camry in California if buyers qualify for two tax credits worth $7,500 each.

World

*A major dam collapsed on Tuesday in Ukraine flooding towns and forcing people to evacuate. Russians and Ukrainian officials said that the damage will affect food production and drinking water supplies in the area.

*Iran presented its first hypersonic ballistic missile on Tuesday and claimed it can beat all air defense systems.

*Heavy flooding and an earthquake shook Haiti over the weekend killing at least 42 people and displacing thousands more.

US News, Politics, & Government

*Canadian wildfires lead to air quality alerts in many northeastern U.S. States urging vulnerable people to stay inside.

*Atlanta lawmakers approved funding for “Cop City” training facility on Tuesday amidst intense protests.

*A state school board in Oklahoma approved on Monday what would be the first publicly funded religious school in the country, despite a warning from the attorney general that the decision was unconstitutional.

Sports & Entertainment

*The Miami Heat rule out Tyler Herro for game 3 of the NBA finals tonight.

*Hollywood actors vote to authorize a strike if new contract talks fail.

*The James Beard Awards were announced this week with Rob Rubba of Oyster Oyster in D.C. winning Outstanding Chef and Friday Saturday Sunday in Philadelphia claiming Outstanding Restaurant. Full list of winners here.

Science, Health, & Tech

*Fungi store up to one third of carbon emitted from fossil fuels and could be key in fighting climate change.

*Apple’s iOS 17 update allows the photo app to recognize pets and place them in the people section. See other update features here.

*A new study shows that AI can help improve breast cancer risk predictions.

Extras

*Would you fly in a plane with double-decker seating?

*McDonald’s will celebrate Grimace’s birthday with a limited edition purple shake starting June 16.

*Ranked: the 20 most air-polluted cities on earth.