Notes today: 

• The president of the European Commission, Ursula von der Leyen, said the EU needs to make emergency plans to prepare for a complete cut-off of Russian Gas.

• Boris Johnson was clinging to power wounded by the resignation of ministers who said he was not fit to govern. 

• US Job openings decreased to 11.3 million on the last business day of May. Hires and total separations changed little at 6.5 million and 6.0 million, respectively. 

• Guardian analysis of water samples taken in nine US locations shows test agency uses is likely missing significant levels of PFAS pollutants.

• Economists at Bloomberg calculate a 38% chance of a US recession in the next year... 

• The alleged theft of some 23 terabytes of personal information on about a billion Chinese citizens from a Shanghai police database would rank as the world’s largest ever known data breach.

• (FT) Martin Wolf: The crypto crash (and preceding bubble) shows that cryptocurrencies are objects of speculation rather than stores of value. That also makes them unusable as units of account. 

• German factory orders unexpectedly rose 0.1% in May.