Government

China state-owned margin lender returns market-steadying funds early

The China Securities Financial Corporation (CSFC) has returned ahead of schedule some of the funds it borrowed from commercial banks to stabilize the stock market, three people in the banking industry with direct knowledge told Reuters.

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US Senate expands Department of Homeland Security powers after data breach

Senators from both the Republican and Democrat sides of the US Senate have come together to enact legislation that will enhance the powers of the US Department of Homeland Security in order to protect government Internet addresses.

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Greek banks reopen after three-week closure

Greek depositors lined up outside banks Monday as banks reopened three weeks after closing their doors. But while people can now withdraw money, restrictions remain and, with new taxes, they will have to shell out more for goods and services.

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Study reveals the U.S. Pension System is short by $1 Trillion

The states of Illinois, Kentucky and Connecticut, according to a study by Pew Charitable Trust, have been found underfunded by at least $1 trillion.

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Russia offers energy pipelines to Greece - a very expensive lifeline, skeptics say

Russia's offer to support Greece wouldn't be a surprise considering the close ties between these two countries. However, some experts have an interesting view of the impending scenario.

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EU steps up pressure for rapid deal to revive asset-backed debt

European Union reform of the securitized debt market to help to revive the region's economy is likely to be binding on member countries to speed up change, a senior official from the bloc's executive body said on Tuesday.

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OPM data breaches started in 2013; director resigns

The US Office of Personnel Management's 21.5M stolen data could compromise the lives of individuals directlyand indirectly connected to the US government. The hack stole security information, backgrounds and filed fingerprints that could potentially reveal identities of US secret agents around the world. OPM director's resignation could be a justified move but it hardly offers solution to the crisis.

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Puerto Rico to meet with creditors Monday, not looking to cut principal

Puerto Rico is not intending to cut principal payments to bondholders but to renegotiate debt terms, and officials are set to meet creditors on Monday at the offices of Citi, the head of the island's Government Development Bank Melba Acosta told reporters on Tuesday.

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China's stock turmoil drags down remaining strong commodities

China's stock market rout is injecting new stress into the already ravaged global commodity sector, with prices of copper, coal, natural gas and iron ore all falling back toward their 2015 lows. Analysts say the worst is yet to come as the stronger performers - solar and oil - are now also struggling.

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Quartet of crises threatens Europe's core

Four great crises around Europe's fringes threaten to engulf the European Union, potentially setting the ambitious post-war unification project back by decades.

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Bundesbank chief warns of Grexit damage to German budget: Handelsblatt

Bundesbank chief Jens Weidmann has warned Angela Merkel's cabinet that a Greek exit from the euro zone would rip billions of euros out of the German budget, German business daily Handelsblatt reported on Sunday, citing government sources.

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Japan pledges $6 billion to Mekong nations as China prepares new bank

Japan said on Saturday it would extend around $6 billion in development aid to Mekong region countries, as China prepares to launch a new institutional lender seen as encroaching on the regional clout of Tokyo and ally Washington.

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China market meddling risks denting Beijing's international ambitions

China's response to wild swings in its stock markets risks an embarrassing setback to the country's push to internationalize its financial system, according to investors.

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Russia waits in wings as Greek debt crisis deepens

Russian President Vladimir Putin must be finding it hard to contain a wry smile as the European Union struggles with Greece's debt problems.

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Business activity in India contracts again in June on weak demand

India's dominant services industry contracted for a second month in June as new business again declined, suggesting Asia's third-largest economy is struggling to maintain growth, a survey showed on Friday.

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