By Andrew Torgan and Daniel Wine, CNN
(CNN) — Do you use payment apps like PayPal, Venmo or Apple Pay? Many people love the convenience of paying with a smartphone, but a federal watchdog is warning that such apps don’t have the same protections as a bank or credit union. Bottom line? Do not store lots of cash in them.
Here’s what else you need to know to Start Your Week Smart.
The weekend that was
• President Biden signed into law a bill to suspend the nation’s debt limit through January 1, 2025, to avert a first-ever US default. Suspending the debt limit through early 2025 takes the threat of default off the table until after next year’s presidential election.
• Indian Prime Minister Narendra Modi traveled to the site of one of the worst rail accidents in the country’s history to share his condolences. More than 280 people were killed and over 1,100 injured in a three-way crash involving two passenger trains and a freight train in eastern Odisha state.
• A federal judge in Tennessee has ruled that a state law limiting public drag show performances represented an “unconstitutional restriction on the freedom of speech.” US District Court Judge Thomas Parker was appointed by former President Donald Trump.
• The Labor Department’s latest jobs report indicated employers are hiring virtually all the workers they can find — 339,000 in May alone. The report brought a sigh of relief from many economists after a number of recession alarm bells ringing in recent weeks.
• The Justice Department has closed its investigation into the possible mishandling of classified documents found at former Vice President Mike Pence’s home and will not bring any charges.
The week ahead
Hundreds of journalists at Gannett, the nation’s largest newspaper chain, plan to stage a one-day strike during the media company’s annual shareholder meeting. The journalists want shareholders to take a vote of no confidence against Mike Reed, Gannett’s chief executive. The NewsGuild-CWA, the union that represents more than 1,000 employees and dozens of bargaining units, said Reed has hollowed out newsrooms as a result of “misplaced priorities.”
Apple may unveil its most ambitious new hardware product in years during its annual developer event. The company is expected to introduce a “mixed reality” headset that offers both virtual reality and augmented reality, a technology that overlays virtual images on live video of the real world. The highly anticipated release of an AR/VR headset would be Apple’s biggest hardware product launch since the debut of the Apple Watch in 2015.
Former New Jersey Gov. Chris Christie plans to announce his candidacy in the 2024 presidential race, according to three sources familiar with his plans. Christie, who also ran in 2016 and has been an outspoken critic of Republican front-runner Donald Trump, will make the announcement at a town hall at Saint Anselm College in New Hampshire.
A federal judge will hear a case brought by a conservative think tank that argues Prince Harry’s US immigration records should be unsealed in light of revelations about drug use in his memoir “Spare.” The Heritage Foundation is suing the US government to find out if it acted according to procedure when it granted the Duke of Sussex a US visa. Under US immigration law, evidence of past drug use can be grounds to reject an application.
Former Vice President Mike Pence will launch his presidential campaign with an announcement video and a speech in Iowa, two sources familiar with the plans tell CNN. The announcement will take place ahead of a CNN town hall with Pence at 9 p.m. ET from Grand View University in Des Moines.
(CNN is also holding a town hall with former South Carolina Gov. Nikki Haley in Iowa tonight at 8 p.m. ET. Haley launched her bid for the Republican nomination back in February.)
June 8 is both National Best Friends Day and World Oceans Day, which is a good excuse to take your best friend to the beach!
One Thing: Dishing on the debt deal
In this week’s “One Thing” podcast, CNN senior writer Tami Luhby explains how a debt ceiling deal struck in 2011 could signal a struggle ahead for Republicans looking to enact new spending cuts. Plus, a look at the question some are asking after this most recent fight: Why do we keep the debt ceiling around? Listen for more.
Photos of the week
Check out more images from the week that was, curated by CNN Photos.
What’s happening in entertainment
TV and streaming
HBO’s controversial new show “The Idol” — about the music industry, fame, and lots and lots of sex — makes its debut tonight at 9 p.m. ET. Find out what all the fuss is about here. (HBO and CNN share parent company Warner Bros. Discovery.)
The seventh installment of the “Transformers” movie franchise blasts its way onto the big screen Friday. Not content to be limited to cars and trucks that turn into giant fighting robots, “Transformers: Rise of the Beasts” throws giant mechanized jungle animals into the loud and flashy mix.
What’s happening in sports
At a glance …
Sports fans have two championship series to watch this week. Game 2 of the NBA Finals is tonight at 8 p.m. ET. The top-seeded Denver Nuggets cruised past the Miami Heat 104-93 to take Game 1 on Thursday. Games 3 and 4 are scheduled for Wednesday and Friday.
Game 2 of the Stanley Cup Finals between the Vegas Golden Knights and Florida Panthers is set for Monday at 8 p.m. ET. In Game 1 on Saturday, Vegas scored three goals in the third period to pull away for a 5-2 victory. Games 3 and 4 are Thursday and Saturday.
The owner of Churchill Downs, the racetrack that hosts the Kentucky Derby, will temporarily suspend all racing operations at its legendary namesake track to review protocols in the wake of a series of horse deaths.
For more of your favorite sports, head on over to Bleacher Report, which — like CNN — is owned by Warner Bros. Discovery.
Looking for a challenge? Take CNN’s weekly news quiz to see how much you remember from the week that was! So far, 33% of fellow quiz fans have gotten eight or more questions right. How will you fare?
Play me off…
‘You’re My Best Friend’
In honor of Best Friends Day later this week, here’s a ’70s classic from Queen. (Click here to view)
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