TOP STORIES 
 
U.S. STOCKS FALL AS GREEK DEBT CRISIS WORSENS 

U.S. stocks fell Monday, as a worsening in Greece's debt crisis jolted global markets and pushed the country closer to an exit from the eurozone.

GREECE TO DEFAULT ON IMF PAYMENT 

Greece confirmed it won't be able to make a $1.73 billion loan repayment to the International Monetary Fund due Tuesday, after its decision to call a bailout referendum cast the country into uncharted waters. Global stock markets declined after Athens imposed capital controls in a bid to prevent a banking collapse.

HIGH COURT STRIKES DOWN EPA LIMITS ON MERCURY EMISSIONS 

A divided Supreme Court threw out the EPA's first-ever rules requiring power plants to cut emissions of mercury and other toxic air pollutants, a significant blow to the Obama administration's environmental agenda.

U.S. PENDING HOME SALES AT HIGHEST LEVEL IN NINE YEARS 

A forward-looking indicator of home sales rose to its highest level in more than nine years in May, a sign the housing market is gaining traction after a shaky start to the year.

SUPREME COURT DENIES GOOGLE APPEAL ON ORACLE SUIT 

The Supreme Court denied a Google Inc. appeal that sought to stop a billion-dollar Oracle Corp. lawsuit by seeking limits on software copyright protections.

SYSCO WALKS AWAY FROM US FOODS MERGER 

Food-distribution giant Sysco scrapped its planned merger with rival US Foods, days after a federal judge halted the deal.

GE STRIKES MULTIBILLION-DOLLAR DEALS TO SELL UNITS 

General Electric has agreed to sell its U.S., Mexico, Australia and New Zealand vehicle-financing businesses to Element Financial for $6.9 billion, with a deal to unload its European fleet business also in the works.

PUERTO RICO URGES CONCESSIONS FROM CREDITORS 

Puerto Rico on Monday released a report calling for concessions from the island's creditors in order to stave off a looming cash crunch and take steps toward achieving fiscal health.

KKR SETTLES WITH SEC FOR NEARLY $30 MILLION 

KKR agreed to pay nearly $30 million to settle charges that it improperly shifted more than $17 million in so-called "broken-deal" expenses to its funds, breaching its fiduciary duty.

UBER EXECUTIVES DETAINED IN PARIS 

French police on Monday detained Uber Technologies' top two executives in Paris, French prosecutors said, making good on the government's promise to crack down on the car-hailing service after violent protests last week.

CRUDE OIL PRICES SLUMP ON GREEK FALLOUT 

Oil prices slumped Monday as uncertainty about the financial crisis in Greece boosted the dollar.

BRAZIL'S PETROBRAS SLASHES 5-YEAR INVESTMENT BUDGET 

Petrobras said Monday it plans to slash investments by 37% over the next five years in an urgent effort to reduce debt and recover investor confidence amid a corruption scandal.

CHINA'S AVIATION INDUSTRY CORP. AGREES TO BUY HENNIGES 

China's growing ambition to acquire auto technology is set for a boost as a state-run aviation giant has agreed to buy U.S. part supplier Henniges Automotive Holdings Inc.

OIL STOCKS HIT TWO-YEAR HIGH IN EUROPE HUB 

More than 60 million barrels were stored at a network of storage tanks in the Dutch ports of Amsterdam and Rotterdam and Belgium's Antwerp in June.

SUPREME COURT UPHOLDS ARIZONA INITIATIVE ON REDRAWING VOTING DISTRICTS 

The Supreme Court upheld a voter-backed initiative in Arizona that sought to prevent partisan gerrymandering of congressional districts.

EGYPT'S TOP PROSECUTOR KILLED 

Egypt's top prosecutor died after an attack on his convoy, a day after an ISIS affiliate vowed to target judicial officials.

SNB INTERVENED TO STABILIZE FRANC 

Switzerland's central bank intervened in the currency markets Sunday night to stabilize the strong franc after the concerns over Greece's potential exit from the eurozone triggered renewed buying of the Swiss currency.

U.K. COUNTY REJECTS FRACKING APPLICATIONS 

An English county government rejected applications for the first onshore hydraulic fracturing in western Europe since 2011, in a blow to the U.K.'s nascent shale-gas industry.

AMERICAN TEACHER'S KILLER SENTENCED TO DEATH IN UNITED ARAB EMIRATES 

A U.A.E court on Monday sentenced to death an Emirati woman for the stabbing murder last year of Ibola Ryan, a 47-year-old American teacher in Abu Dhabi.

MEDIAOCEAN TO SELL STAKE TO VISTA 

Mediaocean, a software supplier to advertising agencies, has agreed to sell a majority stake to Vista Equity Partners in a deal that values the company at roughly $720 million.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Europe Markets 
EAST EUROPEAN BANKS SCRAMBLE TO STEM CONTAGION FEARS 
 

As Greece faced shuttered banks and capital controls, the country's nearest neighbors were scrambling to allay fears of contagion.

 
Capital Journal 
WILL A DEAL CHANGE IRAN'S HARD-LINE MINDSET-OR EXTEND IT? 
 

Gerald F. Seib on the unstated calculus after any Iranian nuclear deal expires-whether hard-liners will be more entrenched or will a younger generation of more pragmatic leaders will have ascended to power.