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Americas

Weak US employment report puts damper on September rate hike hopes

A woman walks to enter a line for the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York.  Picture: REUTERS

US job growth slows in June and Americans leave labour force in droves, tempering expectations for September interest rate hike from US Federal Reserve

Europe

BoE warns that Greek crisis is becoming dangerous

Tthe Bank of England in London. Picture: BLOOMBERG

However, Bank of England deputy governor Jon Cunliffe says there is no sign yet of Greek debt crisis spreading to other countries on periphery of eurozone

Europe

Tsipras makes plea to voters as economy buckles

Pro-euro protesters hold Greek national flags during a rally in front of the parliament building in Athens this week. As politics and posturing continue, Greeks are divided between defiance and desperation over whether to reject austerity measures. Picture: REUTERS/YANNIS BEHRAKIS

Prime Minister Alexis Tsipras bends on day three of capital controls, rationing pensions and intense European pressure after expiry of Greece’s bail-out

Arts & Entertainment

Prince pulls his music from most online streaming services

Picture: AFP/ROBYN BECK

Pop icon Prince opens new chapter in fraught relationship with internet as he suddenly pulls his music from most streaming services

Americas

End Cuban embargo, pleads Obama

The Chief of Mission at the US Interests Section in Havana, Jeffrey DeLaurentis, left,  meets Cuban interim Foreign Minister Marcelo Medina in Havana on Wednesday, after the official resumption of relations between the two countries. Picture:EPA/ALEJANDRO ERNESTO

US leader needs significant political momentum to get an ambassador to Cuba confirmed by the Republican-controlled Senate or the embargo lifted

Opinion

How I’d vote on Sunday if I were Greek

Picture: REUTERS

Faced with the devil and the deep blue sea, Greeks might do better to risk the latter of sovereign default and monetary sovereignty

Europe

Tsipras stands firm on his opposition to bail-out

Alexis Tsipras, Greece's prime minister, stands and speaks to lawmakers inside the Greek parliament in Athens, Greece, on Sunday. Picture: KOSTAS TSIRONIS/BLOOMBERG

Defiant Prime Minister Alexis Tsipras urges Greeks to reject bail-out deal, wrecking any chance of repairing broken relations with European Union partners

Europe

Record 137,000 refugees and migrants cross Mediterranean this year, says UN

Hungarian riot police guard a metal fence that surrounds hundreds of refugees after riots broke out at a refugee camp about 220km east from Budapest, Hungary, on Monday. The United Nations said on Wednesday a record 137,000 refugees and migrants crossed the Mediterranean into Europe this year. Picture:  AFP PHOTO/STEVEN DEBORA

Numbers flooding across the Mediterranean — aided by brutal human traffickers — swell 83% compared with the first six months of 2014

Americas

Obama takes time to enjoy ‘gratifying’ week

People along 5th Avenue during the annual 2015 New York City Pride March in Manhattan, USA, on June 28 2015. Gay and lesbian couples in the US have a constitutional right to marry in all 50 states, the Supreme Court ruled on June 26 2015. Gay rights activists and US President Barack Obama declared it 'a victory for America'. Picture: EPA/JOHN TAGGART

Legalisation of gay marriage, healthcare law, Congress passing legislation crucial to Pacific trade pact make for momentous week for President Barack Obama

US Treasury Secretary Jack Lew, left, meets Ukrainian Finance Minister Natalie Jareskoear earlier this year. Jaresko has said a Ukrainian debt default is theoretically possible. Picture: REUTERS//YURI GRIPAS

Money also has its own limitations

It is easy to forget bounds to central banks’ power, writes Peter Eavis

Europe

Greek banks to remain closed for a week after run on ATMs

Greek banks closed. Picture:  REUTERS/ALKIS KONSTANTINIDIS

Greece announces it will shut banks and impose capital controls, pleading for calm after citizens empty cash machines in dramatic escalation of country’s debt crisis

Europe

Eurozone growth stays tepid but Asia perks up, data show

Asia’s largest economies show hints of healing but eurozone factory growth remains tepid

Europe

Greek pensioners besiege banks to grab cash

Pensioners waiting outside a closed National Bank branch and hoping to get their pensions, argue with a bank employee in Iraklio on the island of Crete, Greece, on Monday.   Picture: REUTERS

In chaotic scenes, thousands of elderly Greeks besiege nation’s crisis-hit banks, which reopened to allow them to withdraw vital cash from state pensions

Europe

Tsipras offers conditional green light to bail-out, but creditors sceptical

Alexis Tsipras. Picture: REUTERS/YANNIS BEHRAKIS

Greek prime minister writes to international creditors saying Greece could accept bail-out offer if several conditions are changed, but Germany says letter is too late

Asia-Pacific

At least 116 dead in Indonesian military aircraft crash, officials say

Indonesian rescuers extinguish a fire after a military plane crashed while they search for victims in Medan, North Sumatra, Indonesia, on June 30 2015. At least people 20 were killed when a military transport plane crashed into a residential area of Indonesia's Medan city and burst into flames, a hospital staffer said. The Hercules C-130 plane was carrying 12 crew members and an unknown number of passengers, according to local military commander Dwi Putranto. Picture: EPA/DEDI SAHPUTRA

At least 116 people are killed when airforce transport aircraft crashes into major city shortly after take-off and explodes in fireball, officials say

Markets

Markets brace for 61-second minute

Picture: THINKSTOCK

Planet is slowing down, but clocks are not, so every few years one second is added, this will be first leap second during trading hours since markets went electronic

Opinion

LETTER FROM WASHINGTON: It’s not just about the flag, it’s about the banner

US President Barack Obama says removing the Confederate flag is not to insult the valour of fallen Confederate soldiers, but to acknowledge slavery was wrong


International companies


Europe

European firms feel Aegean waves

Picture: THINKSTOCK

Greece’s turmoil ripples across corporate Europe as market rout sabotages planned bond sales and stock offerings

Europe

New Deutsche Bank CEO delays overhaul, warns staff to behave

John Cryan.  Picture: REUTERS

John Cryan delays implementing strategic overhaul by three months, but tells staff to expect tough reforms as he shakes up group he says has become too diversified

Europe

Diageo offloads resort and golf venue

Picture: THINKSTOCK

Diageo sells Gleneagles Hotel to group led by private-equity firm Ennismore Capital

Anglo American CEO Mark Cutifani. Picture: REUTERS

Anglo planning job cuts as investors push for bolder overhaul, sources claim

Anglo American planning to cut staff at head offices around world in effort to respond to commodity price rout , sources csay

Americas

Tesla owners gripe over recharge waiting

Elon Musk.  Picture: REUTERS

Tesla owners’ superchargers are the equivalent of gas pumps to quickly recharge their battery-powered vehicles

Europe

London Metal Exchange has plan to curb long delays

stock data business XXX   Picture: THINKSTOCK

World’s oldest and biggest market for industrial metals, the London Metal Exchange, seeks to bolster oversight of warehouses

Europe

Eurozone readies for Greek default after Tsipras referendum call

Wolfgang Schaeuble. Picture: REUTERS/FABRIZIO BENSCH

Country faces a default that could push it out of the euro and cause ripple effects across the European economy and beyond

Middle East

Iran nuclear talks set to go beyond deadline as differences remain

Iran's Foreign Minister Mohammad Javad Zarif. Picture: REUTERS

Iranian Foreign Minister Mohammad Javad Zarif to leave Vienna and return to Tehran for consultations with the country’s leadership on the state of negotiations

Europe

Uber bosses to go on trial in wake of protests

The Uber logo is seen on a vehicle near Union Square in San Francisco, California May 7, 2015. REUTERS/ROBERT GALBRAITH

Uber France executives charged with ‘misleading commercial practices, complicity in the illegal exercise of the taxi profession and illegal use of private data’

Europe

EU urges Greece to vote ‘yes’ to euro

Alexis Tsipras. Picture: BLOOMBERG / KOSTAS TSIRONIS

European Commission makes last-minute offer to try to persuade Greek Prime Minister Alexis Tsipras to accept bail-out deal he has rejected

Europe

Capital controls mean Greeks can click, but not buy

Picture: THINKSTOCK

Imposition of capital controls means Greeks are no longer able to purchase goods, services from many international online suppliers including Google and Apple

African Business

Congo miner reveals sale after IMF rebuke

Workers drill in a gold mine in Kibali, Democratic Republic of Congo. Picture: BLOOMBERG/SIMON DAWSON

DRC’s Gecamines discloses sale of copper mine to Glencore’s Mutanda unit after IMF and the Carter Center criticises its lack of transparency

Americas

Uber acquires mapping assets from Microsoft

The Uber logo is seen on a vehicle near Union Square in San Francisco, California May 7, 2015. REUTERS/ROBERT GALBRAITH

Uber is buying digital-navigation tech and hiring employees from Microsoft, furthering car-hailing company’s pursuit to control mapping that powers its app

Americas

Willis Group, Towers Watson agree $18bn merger

Picture: THINKSTOCK

Insurance broker Willis Group Holdings to combine with financial services provider Towers Watson & Co to create new insurance, personnel and risk company

National

Competition Commission fines Japanese shipping company millions

Picture: REUTERS

Commission hits shipping company with R104m fine after it admits to fixing its prices on SA car imports and exports

Europe

Greece to reopen bank branches for pensioners

Picture: AFP PHOTO/ARIS MESSINIS

Greece will re-open 1,000 bank branches from Wednesday until end of week to cater for pensioners who do not use cash cards for automated teller machines

Europe

Blow to British fracking as drilling plans rejected

Hydraulic fracturing drilling. Picture: THINKSTOCK

Britain’s hopes of expanding shale gas industry suffer blow when local authorities reject plans for exploratory fracking site in northwest England following protests

Companies

Rio Tinto smelter in New Zealand faces possible power crunch

Smoke billows from chimneys at the Rio Tinto alumina refinery in Gove, 650km east of Darwin in Australia's Northern Territory.  Picture: REUTERS

Aluminium smelter, which has suffered losses in two of last three years, faces July 1 deadline to decide whether to extend power supply contract with Meridian Energy

Asia-Pacific

China eases rates to prop up markets

A vendor waits for buyers at her pet fish stall in Beijing. Although the Chinese stock market rallied last year, this did not have a trickle-down effect on retail sales figures. However, this does not mean that a stock market downturn would similarly not affect them. Picture:  EPA/WU HONG

Decision to cut both lending rates and reserve requirements at some banks seen as almost entirely driven by the need to stabilise Chinese bourses after they lost 20% in a few weeks

Companies

Mahindra aims for double-digit growth in Africa

The extended wheelbase provides for a larger load box.  Picture: QUICKPIC

Utility and tractor producer sets up Africa-focused business unit, hopes aggressive expansion will help spur 10-fold increase in business

Europe

Climate of rumours and conspiracy envelops Greece

French President Francois Hollande delivers a statement after holding a council meeting on Greece at the Elysee Palace in Paris, France, on Monday.  Picture: REUTERS

Greeks struggle to adjust to shuttered banks, closed cash machines, conspiracy theories as breakdown in talks between Athens, creditors plunges country into crisis

Americas

Amazon to offer loans to sellers in China, seven other countries

OVERKILL: Amazon’s Mechanical Turk online work marketplace proved a useful resource for researchers wanting to discover at what point in-your-face advertisements become counterproductive.  Pcture: BLOOMBERG/DANIEL ACKER

E-retailer will launch loan plan for small sellers later this year in eight more countries where credit is becoming key factor in competing for new vendors

Europe

Greek banks shut as standoff with EU escalates

Anti-austerity protesters burn a euro note during a demonstration outside the European Union offices in Athens, Greece, on Sunday. Picture: REUTERS

Banks kept afloat by emergency funding from the European Central Bank are on the front line as Athens moves into crunch week

Europe

Sky mulls bid of £4.5bn for Formula One

Formula One commercial supremo Bernie Ecclestone. Picture: REUTERS

Bidders line up for one of the most valuable prizes in global broadcasting, but Grand Prix team chiefs have warned of empty seats, fewer television viewers and races increasingly dominated by a handful of drivers

Opinion

US rate hike not end of the world

Janet Yellen.  Picture: REUTERS

Rising rates in US and ensuing likely rise in value of dollar could, it is feared, wreak havoc among emerging markets’ governments, financial institutions, corporations and even households

Picture: THINKSTOCK

China vows to halt CO² emissions rise by 2030

China formally committed to halting the rise in its emissions within the next 15 years

Asia-Pacific

No end in sight for China’s wild ride

A stock investor checks prices in a brokerage house in Shanghai on Monday. China's market continued falling despite money-easing policies announced at the weekend. Picture: EPA

Boom-and-bust stock market has become the norm, write Belinda Cao and Kana Nishizawa

Americas

Landmark US Supreme Court ruling legalises gay marriage nationwide

Picture: THINKSTOCK

Court rules 5-4 that the constitution’s guarantees of due process and equal protection under the law mean that states cannot ban same-sex marriage

Americas

Solar-powered flight passes halfway point

Solar Impulse 2, a solar powered airplane attempting a round-the-world flight, flies over Nagoya Airport after taking off from the airport to Hawaii, at Toyoyama town near Nagoya, central Japan, on Monday morning. Picture: REUTERS

Solar Impulse 2 breaks its own endurance record as it crosses halfway point of perilous Pacific Ocean crossing as part of attempt to fly around the world

Opinion

As Greece crumbles, European dream sinks

The European Union has become its own enemy, trampling on the will of the people

Asia-Pacific

Revellers hurt in Taiwan party fire

People run from a blaze at the Formosa Fun Coast water park, on the outskirts of the capital, Taipei, in this still image taken from video shot at the scene. Picture:  REUTERS/MS HUANG

Investigators suspect coloured powder in sudden explosion and fire ball that engulfed nearly 500 young revellers

Asia-Pacific

Hanoi to lift business restrictions

A man drives past the Hanoi Stock Exchange, in Hanoi, Vietnam, on Friday. Vietnam's government has approved the removal of foreign ownership caps on most listed firms. Picture: REUTERS

Communist government scraps rules limiting the stake foreigners can own in some locally listed companies in move to boost growth

Europe

New Deutsche Bank CEO delays overhaul, warns staff to behave

John Cryan.  Picture: REUTERS

John Cryan delays implementing strategic overhaul by three months, but tells staff to expect tough reforms as he shakes up group he says has become too diversified

Europe

IMF won’t help Greece if June 30 payment not made, says Lagarde

International Monetary Fund MD Christine Lagarde. Picture: REUTERS

IMF head says referendum scheduled in Greece for July 5 will be asking voters to weigh creditors’ proposals that are no longer under consideration

Middle East

Kerry, Zarif see hard work ahead as Iran nuclear talks begin

John Kerry. Picture: REUTERS/CHARLES PLATIAU

With a deadline approaching on Tuesday, each side seeks to place the onus on the other to finalise a deal

Asia-Pacific

Australian iron ore exports set to surge

Rio Tinto’s Hamersley Iron ship is loaded with iron ore in Western Australia in this undated company handout photo. Picture: BLOOMBERG

Forecasts see 10% export rise — more than double the gain this year — as new mine backed by billionaire Gina Rinehart ramps up output

Europe

Greece on brink as debt deadline arrives

Pensioners waiting outside a closed National Bank branch and hoping to get their pensions, argue with a bank employee in Iraklio on the island of Crete, Greece, on Monday. Picture: REUTERS/STEFANOS RAPANIS

Gauges of stock volatility surge throughout the world as the weekend meltdown in Greece collide with China’s market unravelling

Americas

Sony plans $3.6bn offering

Picture: REUTERS

Sony to issue new shares for first time since 1989, part of capital-raising plan that highlights potential of its fast-growing sensor business, but leaves some investors nervous

Europe

German prosecutors investigate Deutsche Bank

Deutsche Bank. Picture: BLOOMBERG/KRISZTIAN BOCSI

Prosecutors say they are investigating five individuals in connection with Deutsche Bank’s participation in global interest rate rigging scandal

Asia-Pacific

At least 20 dead after Indonesian military aircraft crashes in flames

Indonesian rescuers extinguish a fire after a military plane crashed while they search for victims in Medan, North Sumatra, Indonesia, on June 30 2015. At least people 20 were killed when a military transport plane crashed into a residential area of Indonesia's Medan city and burst into flames, a hospital staffer said. The Hercules C-130 plane was carrying 12 crew members and an unknown number of passengers, according to local military commander Dwi Putranto. Picture: EPA/DEDI SAHPUTRA

Airforce transport aircraft crashes into residential area of Medan shortly after take-off, exploding in fireball and killing at least 20 people

Europe

Greece considers capital controls, closing banks on Monday

Picture: THINKSTOCK

Savers queue to withdraw cash, taking Athens’ standoff with the EU and the IMF to a dangerous new level

Europe

Paris confronts Airbnb’s rapid growth

Picture: THINKSTOCK

Housing officials in Paris are cracking down on tourist rentals, such as those Airbnb offers, saying their growth is driving out residents

World

Fifa’s band of dodgy men who lined their pockets

Former Fifa president Joao Havelange was named in leaks as being a recipient of bribes while he was head of the organisation. Picture: REUTERS/DENIS BALIBOUSE

Soccer’s world governing body built an evil empire of bribes and commissions, writes Luke Alfred

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