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IMF’s Lagarde says Greece must reform before debt relief

WASHINGTON One day after Greece became the first developed economy to default on a loan with the International Monetary Fund, the head of the international lender on Wednesday suggested Greece should move to reform its economy before its European creditors … Continue reading

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Greece’s Tsipras digs in against bailout

ATHENS/BRUSSELS A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal, wrecking any prospect of repairing broken relations with European Union partners before a referendum on Sunday that may decide Greece’s future in Europe. … Continue reading

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Asia stocks rise for third day though Greece, China concerns weigh

HONG KONG Asian stocks rose for a third consecutive day on Thursday though widening cracks in Chinese stocks and Greece’s standoff with its creditors capped gains while the dollar was bolstered by upbeat U.S. economic data. Stocks in Shanghai slipped … Continue reading

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China stocks fall despite regulators’ bid to stop the slide

SHANGHAI China stocks closed down sharply on Thursday after another wild trading day as investors shrugged off regulators’ intensified efforts to put a floor under the sliding market. The CSI300 index of the largest listed companies in Shanghai and Shenzhen … Continue reading

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Major Puerto Rico investor warns it stands ready to defend bonds

NEW YORK 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 … Continue reading

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Euro burdened by Greece, uncertainty high

SYDNEY 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. Still, it surprised … Continue reading

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China June factory, services surveys fuel hopes economy leveling out, no quick rebound seen

BEIJING 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 starting to slowly … Continue reading

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Asia steadies, euro bears Greek burden

SYDNEY Asian share markets were in a guarded mood 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. While an unwelcome milestone for … Continue reading

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GE to sell European private equity financing unit to SMBC

TOKYO General Electric Co (GE.N) said it would sell its European private equity financing business to a unit of Japan’s Sumitomo Mitsui Banking Corp (SMBC) for about $2.2 billion as the U.S. conglomerate sheds financial assets amid a restructuring. The … Continue reading

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Markets on edge as Greece heads for default

LONDON Euro zone stocks and low-rated bonds recovered the worst of their losses on Tuesday but remained on edge as Greece looked set to default on a debt repayment to the IMF and plunge deeper into financial crisis. The breakdown … Continue reading

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