The Wall Street Journal reports Bill Ackman's Pershing Square expects at least $600 million in profit from its investment in Universal Pictures.

Shanghai Mayor Gong Zheng met with Bridgewater Associates CEO Dean on June 3. Gong said finance is Shanghai’s core city function and the city is strengthening market, product, institutional and infrastructure systems to raise the competitiveness and influence of the Shanghai international financial center. He invited Bridgewater to expand and optimize its Shanghai investment footprint, help build Shanghai into a global asset-management hub, and serve as a conduit for global firms accessing China’s market.

Yantai Maritime Safety Administration, via the China Maritime Safety Administration website, issued a navigation warning: military activities will take place in waters of Bohai Laizhou Bay on June 5 from 07:00 to 23:00 and June 6 from 07:00 to 22:00; entry to the area is prohibited.