China says euro zone has ability to resolve debt crisis

China's Foreign Ministry said on Monday that the euro zone has the wisdom and ability to resolve the Greek debt crisis, after Athens failed to strike a deal with its lenders, taking it a step closer to a default that could force its exit from the euro zone.

Fed's Dudley says September rate hike 'very much in play': FT

A September interest rate hike is "very much in play" if the U.S. economy continues to strengthen, though the Federal Reserve could also wait until December to start tightening policy, an influential Fed official said in a newspaper interview.

U.S. light oil exports double in May, mostly to Europe

U.S. exports of ultra-light crude, also known as condensate, have doubled since the start of the year, with most shipments headed to Europe, according to traders familiar with the deals and data from an energy consultant.

Novartis buys pain drug firm Spinifex for $200 million upfront

Swiss drugmaker Novartis AG (NOVN.VX) boosted its presence in pain management on Monday by agreeing to buy U.S.-Australian biotech firm Spinifex Pharmaceuticals, the companies said in separate statements on Monday.

Oil hits three-week lows as Greek crisis worsens; eyes on Iran

Crude futures hit 3-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market.

Microsoft hands display ads to AOL, maps to Uber

Microsoft Corp (MSFT.O) said on Monday it will hand over its display advertising business to AOL Inc and AppNexus Inc, and sell some map-generating technology to ride-hailing app company Uber, as it slims down its money-losing online operations.

Wall St. tumbles as investors flee equities on Greek debt crisis

U.S. stocks fell sharply in heavy trading on Monday and the S&P 500 and the Dow had their worst day since October after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the euro zone.

Germany's BMW among suitors for $6.4 billion ANZ car finance unit -source

Germany's BMW AG (BMWG.DE), Australia's Macquarie Group (MQG.AX) and a host of U.S. private equity firms are expected to bid for Australia and New Zealand Banking Group's (ANZ.AX) more than $6 billion car and equipment loan book, a source said on Monday.

EU tries to look beyond Greece to deepen China ties

The European Union will briefly put aside worries about Greece to broaden its relations with China at a summit in Brussels on Monday, hoping for Chinese investment in Europe's new infrastructure fund and support for a global climate deal.

Wall St. eyes Greece and Fed; Main St lackadaisical

Anxiety about Greece may keep Wall Street on edge early in the week, as the country moves toward what was once thought unthinkable: a default and a full exit from the euro zone.

Wave of contagion expected after dramatic weekend raises 'Grexit' chances

Global financial markets are braced for a wave of contagion from Greece on Monday, with expected heavy losses for southern European government bonds and regional stock markets as investors scramble to discount a possible "Grexit" that most had still assumed was unlikely as late as Friday afternoon.

China-backed multilateral bank to take concrete shape this week

One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.

Rising interest rates pose new risk for banks: BIS

Rising interest rates after years of loose monetary policy will pose a fresh risk to banks' ability to absorb losses using capital buffers, the Bank for International Settlements said in its annual report on Sunday.

Volkswagen to launch budget car family in 2018: CEO in paper

Germany's Volkswagen (VOWG_p.DE) plans to launch a family of low cost budget cars in China and possibly elsewhere starting in 2018, its chief executive said in a newspaper interview on Sunday.

Greece considering capital controls, closing banks on Monday

Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.

India's IndiGo to file prospectus for $400 million float next week: sources

India's biggest airline IndiGo is set to file a prospectus next week for a domestic stock market listing, which is expected to raise as much as $400 million, according to three sources with knowledge of the matter.

FedEx says has requested EU approval for $4.9 billion TNT bid

FedEx (FDX.N) has asked the European Union's competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express (TNTE.AS), the U.S. package delivery service company.

China central bank eases policy again to support economy

China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century.

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