Dealbook’s White Collar Watch gives us a legal take on the many challenges, regulatory and otherwise, facing Elizabeth Holmes’ Theranos – NYTimes

The international financial scandal du jour (the Panama Papers) is having ripple effects well beyond the Central American nation—both for leaders caught up in its documents and for regulators (like the DOJ) looking to crack down on tax avoidance schemes – Law360

As if Yahoo needed any incentive, Breakingviews reminds us that the struggling company’s woeful first quarter  means it’s really time to “offload Yahoo’s core business before bidders like Verizon lose interest” – NYTimes

The Journal tracks the impressively unscathed course BlackRock has been able to chart over the past few years of big-time financial regulation, suggesting that its “ability to avoid tougher federal scrutiny followed years of private and public pushback, a sign of the company’s increased sway in the nation’s capital” – WSJ

Facing rough air lately and some nasty crosswinds in the form of two significant investors, United Continental managed to bring its board dispute in for a smooth landing by naming a new Chair—former Air Canada CEO Robert Milton—and delaying chief exec Oscar Munoz’s move to the captain’s seat until 2018 – NYTimes

SunEdison’s bankruptcy could be the collapse that just keeps hurting – WSJ

Let’s go ahead and keep the flannels and combat boots firmly in the 90s (where they belong. Now the 80s? That’s a different story), but wouldn’t you know it, Microsoft’s hot again – WSJ

It’s official: Andy’s out, and Harriet’s in.  About time – NYTimes and WSJ

I think it’s well documented at this point that I could give or take basketball entirely.  But I’ll give the NBA this: its “____ Cam” work these days has been on point – Huffington Post

The Brief’s heading to Wall Street tonight.  See you at the Waldorf.