Travel Ban

The Supreme Court has upheld President Donald Trump's travel ban, which restricts people from several Muslim-majority nations, as well as North Korea and Venezuela, from travelling to the U.S. However, there was strong dissent from Justices Sonia Sotomayor and Ruth Bader Ginsburg, who said Trump's promised Muslim ban was hiding "behind a fa?ade of national-security concerns." Meanwhile, a federal judge has also ordered the Trump administration to reunite--within 30 days--the families it split up at the southern border. Fortune

China Retreat

Trump appears to have taken note of the severe industrial pushback against his reported plans to limit Chinese investment in U.S. technology--a move that his advisors said was essential to stop China from stealing American intellectual property. Trump is now saying that such theft is best combatted through the existing tools offered by the Committee on Foreign Investment--though he also maintains that the original reports of his plan for new tools were "a bad leak...probably just made up." Wall Street Journal

Uber Victory

Uber is now operating legally in London again, after a court said the company was "fit and proper" to receive a licence--however, it's only a temporary 15-month licence, rather than the five-year authorization Uber was after. So the firm is essentially on probation now, and it has to demonstrate that it plays by the rules these days under the reign of CEO Dara Khosrowshahi, more than it used to in the era of Travis Kalanick. BBC

Facebook Planes

Facebook is shuttering its plane-building plant in the U.K. The company was working on its own aircraft to build out airborne Internet connectivity in hard-to-reach places in the world, but now it's noted that actual aerospace companies are investing in high-altitude aircraft of this sort. "Given these developments, we've decided not to design or build our own aircraft any longer, and to close our facility in Bridgwater," the firm said in a blog post, adding that it would work with partners like Airbus in the future. Facebook

Facebook and Cryptocurrencies

Speaking of Facebook, the company has also partially rolled back its ban on cryptocurrency-related ads, which it introduced back in January. Ads from vetted advertisers will now be allowed in the realms of cryptocurrencies themselves and "related content," but ads for initial coin offerings and binary options--both areas that are rife with scams--are still off the table. Fortune

Oh Beer

There's a shortage of food-grade carbon dioxide in Europe, leading to fears that the beer industry, along with purveyors of other fizzy drinks, might run out of gas. The timing is not great, with the soccer World Cup on. The shortage is due to maintenance shutdowns at major ammonia plants in Northern Europe, as well as temporary closures at bio-ethanol plants across the EU. Booker, a major wholesaler of beers and ciders for the hospitality industry, has started rationing its wares. CNBC

Doomsayers Unite

More prominent European hedge fund managers are starting to predict a looming market crash. Kirkoswald's Greg Coffey warns that "the ghosts of 2000 are upon us," while Horseman's Russell Clark is invoking 2008. Others are feeling more upbeat, though. Bloomberg

Must-Reads

Want a collection of eight business books to take on your summer vacations? Fortune has you covered, with a list of page-turners that aren't just informative; they're good fun, too. Examples include John Carreyrou's Theranos expos?, Bad Blood, Emily Chang's dive into the "bro culture" of Silicon Valley, Brotopia, and Nick Bilton's chronicle of Twitter's roots, Hatching Twitter. Fortune

This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.