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Opinion polls show 'No' ahead in Greek bailout referendum
Opinion polls released after Greece's bailout referendum on Sunday showed the 'No' vote ahead, suggesting voters had defied warnings from across Europe that rejection of the creditors' terms would set their country on a path out of the euro. No exit polls were conducted, but three opinion polls by GPO, Metron Analysis and MRB all showed the 'No' camp' ahead by three points. A poll by Marc estimated 49.5 to 54.5 percent of Greeks voted 'No' compared to 45.5 to 50.5 percent voting 'Yes', based on surveys conducted through the week.
China rolls out emergency measures to prevent stock...
BEIJING/SHANGHAI (Reuters) - China's stock markets face a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that would threaten the world's second-largest economy. In an extraordinary weekend of policy moves, brokerages and fund managers vowed to buy massive amounts of stocks, helped by China's state-backed margin finance company which in turn would be aided by a direct line of liquidity from the central bank. China has also orchestrated a halt to new share issues, with dozens of firms scrapping their IPO plans in separate but similarly worded statements over the weekend, in a tactic authorities have used before to support markets.
Rubbing along with robots tackles Abe's double dilemma
Factory worker Satomi Iwata has new co-workers, a troupe of humanoid automata that are helping to address two of Japan's most pressing concerns - a shortage of labor and a need for growth. The 19 robots, which cost her employer Glory Ltd about 7.4 million yen ($60,000) each, have eye-like sensors and two arms that assemble made-to-order change dispensers alongside their human colleagues in a factory employing 370. Glory is in the vanguard as Japanese firms ramp up spending on robotics and automation, responding at last to premier Shinzo Abe's efforts to stimulate the economy and end two decades of stagnation and deflation.
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. The EU's unity, solidarity and international standing are at risk from Greece's debt, Russia's role in Ukraine, Britain's attempt to change its relationship with the bloc, and Mediterranean migration. Failure to cope adequately with any one of these would worsen the others, amplifying the perils confronting "Project Europe".
Aetna to buy Humana for $37 billion in largest insurance...
The combination will push Aetna close to Anthem Inc's (ANTM.N) No.2 insurer spot by membership, and would nearly triple Aetna's Medicare Advantage business. The deal will face antitrust scrutiny but if it goes through it would dwarf the previous largest insurance deal announced just this week, where Swiss property and casualty giant ACE Ltd (ACE.N) announced it was buying Chubb Corp (CB.N) for $28 billion.
Fiat Chrysler CEO says no news on approach to GM but...
Consolidation continues to be necessary in the auto industry but there is nothing new to report on Fiat Chrysler's (FCHA.MI) (FCAU.N) desire for a tie-up with General Motors (GM.N), FCA CEO Sergio Marchionne said on Friday. "The (need for) consolidation remains valid, no one has questioned its economic rational," Marchionne said, speaking on the sidelines of the launch of a re-styled version of its popular Fiat 500 hatchback. Marchionne approached his counterpart at GM, Mary Barra, with a merger proposal earlier this year but was rebuffed.
BP reaches $18.7 billion settlement over deadly 2010 spill
BP Plc will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history. Under the agreement with the U.S. Department of Justice and the states, BP will pay at least $12.8 billion for Clean Water Act fines and natural resource damages, plus $4.9 billion to states. The preliminary settlement, subject to all sorts of variables, avoids a substantial amount of further litigation.
Credit Suisse CEO vows action for 'impatient' investors: NZZ
New Credit Suisse AG Chief Executive Tidjane Thiam has told a Swiss newspaper he wants quick action to implement results of strategic review he is conducting at the Swiss bank. "Our investors have ...
UBS has whistleblower deal in Brazil currency...
Swiss lender UBS AG made a whistleblower deal with Brazilian authorities investigating the suspected rigging of Brazil's currency market and will receive no punishment in the case, a local newspaper reported ...
Heinz completes Kraft purchase, Buffett joins board
H.J. Heinz Co on Thursday completed its purchase of Kraft Foods Group Inc, creating the third largest food and beverage company in North America and fifth largest worldwide. The new company, Kraft Heinz ...
Never mind Greece, Europe will beat the U.S.: Strategist
Now is the time to jump into Europe, according to Erin Gibbs, equity chief investment officer at S&P Investment Advisory Services.
How a white supremacist tapped into a Jewish fortune
Exclusive: Earl P. Holt III, president of the Council of Conservative Citizens, started giving money to GOP pols after marrying the widow of a wealthy Jewish businessman.
Yelp temporarily decides not to pursue a sale: Bloomberg
The company has had several interested suitors after which it hired Goldman Sachs Group Inc to help find a buyer, Bloomberg said on Thursday. Yelp had a market capitalization of about $3.2 billion as of Wednesday's close. Yelp may pursue a sale again if Chief Executive Officer Jeremy Stoppelman changes his mind, Bloomberg said.
Gulf states reach $18.7B settlement with BP over oil spill
BP and five Gulf states announced a record $18.7 billion settlement Thursday that resolves years of legal fighting over the environmental and economic damage done by the energy giant's oil spill in 2010. ...
U.S. job growth disappoints in June as labor force contracts
The rate of U.S. job growth cooled off in June, and missed Wall Street expectations, while many Americans exited the labor force.
Tesla tops 11,000 vehicles delivered in second quarter
Electric car maker Tesla's second-quarter deliveries surged 52 percent to set a company record exceeding 11,000 vehicles. The Palo Alto, California, company had surpassed 10,000 vehicles for the first ...
Greek vote campaign begins amid grinding cash crisis
The battle for Greek votes entered full swing Thursday ahead of a crucial weekend referendum that could decide whether the country falls out of the euro. For Greeks, particularly the elderly, the daily ...
Greek president cancels planned trip to Berlin on Tuesday...
ATHENS (Reuters) - Greek President Prokopis Pavlopoulos has cancelled a trip to Berlin planned for Tuesday, which will come two days after a referendum on an international bailout, a person with knowledge ...
Barnes & Noble taps Sears Canada CEO for retail business
Barnes & Noble, which plans to split into two companies next month, has tapped Sears Canada CEO Ronald Boire to lead the bookseller's retail business. After the split, current CEO Michael Huseby will become ...
BP to settle 2010 oil spill claims with U.S., states
BP Plc reached a record $18.7 billion agreement to settle all federal and state claims from the 2010 Deepwater Horizon oil spill after an abrupt strategy shift in May to re-open talks, three people close to the matter said. “BP was staring down a gun barrel and had to find some way to settle this,” said David Berg, a Houston trial lawyer who tracked the spill litigation but isn’t involved in it. A record $5.5 billion will cover federal penalties under the Clean Water Act, topping the previous high of $1 billion.
Varoufakis to resign as finance minister if Greece votes...
Greek Finance Minister Yanis Varoufakis said he’ll quit if Greece votes to accept creditors’ bailout proposals in Sunday’s referendum. In the event of a “yes” vote, “I will not” be finance minister on Monday evening, Varoufakis said in an interview with Bloomberg Television in Athens Thursday. “But I will help whoever is” to navigate the country’s debt crisis, he said.
Oil flat as U.S. rig count rise cools gains, gasoline jumps
Crude oil prices ended little changed on Thursday as the first weekly gain in the U.S. rig count this year pared earlier gains. Pulling crude futures off highs was the latest data on the U.S. oil rig count from Baker Hughes. Oil was lifted early when tame U.S. jobs and economic data signalled the Federal Reserve might be less hasty to raise interest rates and as a surge in gasoline futures drove expectations for more crude demand.
Shale Drillers' Safety Net Is Vanishing
The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy Inc., payments from the hedges accounted for a stunning 64 percent of first-quarter revenue. The insurance that producers bought before the collapse in oil -- much of which guaranteed minimum prices of $90 a barrel or more -- is expiring. “A year ago, you could hedge at $85 to $90, and now it’s in the low $60s,” said Chris Lang, a senior vice president with Asset Risk Management, a hedging adviser for more than 100 exploration and production companies.
Electrolux CEO seeks to rescue GE deal after legal blow
Buying only parts of the GE Appliances business would not make sense, the head of Sweden's Electrolux (ELUXb.ST) said on Thursday, fighting to salvage a $3.3 billion deal after the United States moved to block it. The U.S. Justice Department filed a lawsuit on Wednesday to stop the Swedish company from buying General Electric Co's (GE.N) appliance unit, saying a deal that has underpinned gains in Electrolux shares since it was announced last September would hurt competition. "I don't see a scenario where, for either party, it would make much sense to split the baby," Electrolux Chief Executive Keith McLoughlin said.
US files formal extradition request for 7 FIFA officials
The United States has submitted a formal request for Switzerland to extradite seven FIFA officials arrested in Zurich as part of a corruption probe that has rocked soccer's world governing body. Switzerland's ...
Asia stocks outside China rise as traders await U.S. jobs...
Markets in Asia outside China advanced on Friday ahead of the critical monthly U.S. jobs report.
Cramer's silver lining for this volatile market
Mad Money host Him Cramer shares a list of what's going right in the market.
Greece's Tsipras digs in against bailout
A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal, wrecking any prospect of repairing broken relations with EU partners before a referendum on Sunday that may decide Greece's future in Europe.
PayPal to buy digital money transfer provider Xoom
By Mari Saito SAN FRANCISCO (Reuters) - PayPal Inc said it would buy digital money transfer provider Xoom Corp for $890 million as it muscles into a growing international remittance market and expand in countries like Mexico, India and China ahead of a spinoff from eBay Inc . The offer price of $25 per share in cash represents a premium of about 21 percent to Xoom's Wednesday closing price of $20.70. Xoom shares surged on the announcement and were trading around the offer price in extended trading.
Hillary Clinton raises record $45 million in first...
Hillary Clinton's presidential campaign raised at least $45 million during its first quarter, her campaign told Bloomberg on Wednesday. Clinton's haul from her campaign's launch in mid-April through June 30 is a record for primary money raised in a candidate's first quarter. President Barack Obama held the previous record for a campaign's first quarter, raising $41.9 million after launching his re-election bid.
Macy's dumps Trump clothing line in response to comments
Macy's is the latest company to end its relationship with Donald Trump as the fallout from the real estate mogul's remarks about Mexican immigrants continues. Companies have been cutting ties with Trump ...
Fannie Mae and Freddie Mac hike pay for their CEOs
U.S. government-controlled mortgage finance companies Fannie Mae and Freddie Mac on Wednesday disclosed huge pay raises for their chief executive officers, part of a plan sanctioned by their regulator to attract and retain talent. Fannie Mae CEO Timothy Mayopoulos and his counterpart at Freddie Mac, Donald Layton, will each now earn $4 million a year, up from previous annual salaries of $600,000. The Federal Housing Finance Agency, an independent regulator, slashed executive pay at the two companies in 2012.
Saudi Prince Alwaleed pledges $32 bn fortune to charity
Saudi tycoon Prince Alwaleed bin Talal on Wednesday promised his entire $32 billion (28.8 billion euro) fortune to charitable projects in coming years, in one of the biggest ever such pledges. The pledge is "maybe... the first such big announcement" of its kind in the region, and is modelled on a charity established by Microsoft founder Bill Gates in the United States, the prince told reporters. Alwaleed said he would head a board of trustees tasked with spending the funds, which would still be used after his death "for humanitarian projects and initiatives".
Gross gets co-manager as Janus acquires firm of Pimco alum
Bill Gross, who has been running the $1.5 billion Janus Global Unconstrained Bond Fund since leaving Pacific Investment Management Co. last year, is getting a co-manager. Janus Capital Group Inc. on Wednesday said that Kumar Palghat, who worked with Gross at Pacific Investment Management Co. for 10 years, will help run the fund, with Gross staying on as lead manager. Janus also bought a majority stake in Palghat’s firm, Kapstream Capital Pty Ltd, a global unconstrained fixed income manager with $6.6 billion in assets.
About that 36% effective tax rate for Jeb Bush
About that 36% effective tax rate for Jeb Bush
Want a national day? Check a website in North Dakota
To most Americans, July 4 is Independence Day. But on Marlo Anderson's calendar, it's also Caesar Salad Day and Barbecued Spareribs Day. Anderson is the mastermind of the National Day Calendar, an online ...
Robert Shiller: Stocks pricey-here's what to do
Nobel Prize-winning economist Robert Shiller tells CNBC that his key valuation indicator is flashing warning signs. He also offers advice.
Tesla's charging troubles, Bill Gross gets a partner and...
Yahoo Finance's Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.
At halftime, the 2015 stock market is still up for grabs
With one half of play in the books, the bulls and bears have played to a scoreless tie.
Greece proceeds with vote plan as creditors rebuff overture
The Greek government vowed Wednesday to go ahead with plans to have the people decide whether they want more austerity measures in exchange for a rescue deal. Greece offered more concessions to its creditors, ...