OPEC has failed to fix the glut; You may work past 70; Election jitters in Britain

Profitable Moment   Donald Trump rescues G7 (sort of) G7 communiques are as dull as ditchwater. Tedious and boring, you have to decipher what everyone's really trying to say.   Thankfully, President Trump has ridden to the rescue, with his blunt comments that "the Germans are bad, very bad." What did he mean?     Some mischief makers are claiming the president meant the country was evil, which makes for a good story, but frankly that isn't what he meant.     The president was bluntly commenting on the trade imbalance between the U.S. and Germany as is obvious by his comment: "See the millions of cars they are selling in the U.S.? Terrible. We will stop this."   Last night, several of you took me to task for being too negative about Donald Trump and his blunt speaking at NATO. I think you may be right; perhaps I am being too sour because the president is more "man on the street" than "diplomat" in the way he makes his point. So I agree.     Thank you Mr. Trump, you have enlivened the G7 by calling a "spade" a "bloody shovel." -Richard.Quest@cnn.com  What's new... what's next   By Matt Egan, Patrick Gillespie and Paul R. La Monica of CNNMoney 1. Retirement 'timebomb': You'll work past 70  Thought you might be hitting the links or the lounge chair in your 60s? Think again. The world's wealthiest countries need to drastically hike their retirement ages in order to prevent pension systems from collapsing, according to the World Economic Forum. It says working until 70 years of age should become the norm by 2050.  2. Pound falls as polls show smaller lead for May A new poll shows Prime Minister Theresa May's Conservative Party has just a 5 percentage point lead over the Labour Party. That's spooking traders ahead of the June 8 election. The pound fell Friday and was the worst major currency this week. May is in favor of Britain leaving the EU. But there are signs of economic weakness as Brexit approaches. Still, it's been a quiet week politically. Both parties suspended campaigns after the Manchester bombing. 3. America's immigrant workforce is changing With Baby Boomers retiring, the U.S. is becoming more reliant on immigrants than ever before to keep its labor force growing, according to the Pew Research Center. About 17% of the U.S. workforce are immigrants and a quarter of those immigrants are undocumented. Without both legal and undocumented immigration, the U.S. workforce would shrink dramatically, slowing economic growth.  4. OPEC & Russia have failed to fix oil glut OPEC, Russia and other major producers have agreed to hold their fire power for another nine months. These output cuts are aimed at mopping up the supply glut that sent crude crashing last year. While OPEC's strategy has kept a floor under crude, it hasn't fixed the underlying problem. In the U.S., stockpiles have actually increased 6% since OPEC decided in November to dial back output. No wonder crude plunged 5% after Thursday's OPEC meeting. 5. Quick Takes: Market quiet ahead of long weekend, but up sharply since Comey freakout Eat, drink and be merry. And invest? Food, soda and booze stocks are on fire U.S. economy grew at faster, albeit still sluggish, pace than first reported in Q1 Trump attacks Germany as 'very bad' on trade, focuses specifically on cars 300 days of sun: How one Indian entrepreneur is making a killing in solar boom Facebook, Amazon & Google want government surveillance reform in U.S. Mark Zuckerberg supports universal basic income. But what the heck is it? Congress wants to ban American tourists from visiting North Korea 6. What's next: Wall Street closed for Memorial Day: No trading in U.S. markets on Monday in observance of Memorial Day. The Quest Means Business newsletter will be back on Tuesday. Check-up on the U.S. economy: Investors are still searching for signs that the post-election bounce in consumer confidence means that Americans are opening their wallets more freely. Pay attention to the April personal spending figures due out at 8:30 a.m. ET on Tuesday. There's also the 9 a.m. ET S&P/Case-Shiller report on US home prices for March. Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences