Europe rallies on revived Greek deal hopes
LONDON (Reuters) – Global shares and peripheral euro zone bonds jumped on Wednesday as Greece’s prime minister signaled he was prepared to accept the bulk of the spending cuts demanded by the rest of the euro zone to keep the country afloat.
New Deutsche Bank CEO delays overhaul, warns staff to behave
FRANKFURT (Reuters) – Deutsche Bank’s new Chief Executive John Cryan delayed implementing a strategic overhaul by three months but told staff to expect tough reforms as he shakes up a group that he said had become too diversified and complex.
Markets rally on report Greece accepts creditor terms
LONDON (Reuters) – Eurozone stocks and peripheral bonds rallied on Wednesday, extending gains after a report that Greece was ready to accept most conditions from its international creditors in order to reach a deal over its debt crisis.
China June factory, services surveys fuel hopes economy leveling out
BEIJING (Reuters) – Activity in China’s factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world’s second-largest economy may be st…
Euro zone factory June growth tepid as Greece weighed: PMI
LONDON, (Reuters) – Euro zone factory growth picked up slightly last month but remained tepid as uncertainty around Greek debt talks — and the country’s possible exit from the bloc — swept across the region, a survey found on Wednesday.
China and Japan show hints of healing, rest of Asia still struggling
SYDNEY (Reuters) – Growth in China’s services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia’s largest economies despite sluggish fa…
Petrobras history of failed plans raises doubt over new promises
RIO DE JANEIRO (Reuters) – Brazilian state-run oil company Petroleo Brasileiro SA’s long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt.
Euro burdened by Greece, uncertainty high
SYDNEY (Reuters) – The euro remained on the defensive in Asia on Wednesday as Greece became the first developed economy to default on a loan with the IMF, setting the scene for another day of uneasy action in markets.
Greece defaults on IMF payment despite last-minute overtures to creditors
ATHENS (Reuters) – Greece made last-minute overtures to its international creditors for financial aid on Tuesday, but it was not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary F…
Major Puerto Rico investor warns it stands ready to defend bonds
NEW YORK (Reuters) – U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restruc…
