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.
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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.