- EU in last-ditch bid to Greece, urges "yes" vote to bailout (Reuters [24])
- In? Out? In between? A Greek legal riddle for EU (Reuters [25])
- Tsipras Says EU Won’t Eject Greece as Cost ‘Immense’ (BBG [26])
- Empty Greek ATMs Force Tourists to Stiff Santorini Cabbies (BBG [27])
- Anti-austerity protests in Greece as bank shutdown bites (Reuters [28])
- Puerto Rico governor calls for bankruptcy; adviser says island 'insolvent' (Reuters [29])
- Puerto Rico Urges Concessions From Creditors (WSJ [30])
- Beijing works to calm tumbling stock market (FT [31])
- Hilsenrath - For Fed to Delay Rate Hikes, Global Tumult Would Need to Infect U.S. (WSJ [32])
- Draghi’s ‘Whatever It Takes’ Drives Euro Gains Amid Greek Crisis (BBG [33])
- How Global Threats Have Crowded Obama’s Diplomacy Agenda (WSJ [34])
- Uber Bonds Term Sheet Reveals $470 Million in Operating Losses (BBG [35])
- Foreign Grad-School Applications Rise, Driven by Indian Candidates (WSJ)
- Willis Group, Towers Watson Agree to $18 Billion Merger (BBG [36])
- High Court Strikes Down EPA Limits on Mercury Emissions (WSJ [37])
- Blackstone and BlackRock Are Getting Into Each Other’s Business (BBG [38])
- China drafts rules to give pension funds access to stock market (Reuters [39])
- Iran Talks to Miss Deadline as Officials Say Deal’s Within Reach (BBG [40])
Overnight Media Wrap
WSJ
* The Supreme Court dealt a setback to the Obama administration's environmental agenda by rejecting the first-ever rules requiring power plants to cut mercury emissions and other toxic air pollutants. (http://on.wsj.com/1g4HByu [41])
* The Supreme Court on Monday upheld Arizona's method of drawing congressional district lines, giving new life to a tool designed to end partisan gerrymandering. (http://on.wsj.com/1eVJZan [42])
* The California Senate on Monday passed a much-debated bill to restrict vaccine exemptions, putting one of the country's strongest state-level efforts to clamp down on unvaccinated students in the hands of Governor Jerry Brown. (http://on.wsj.com/1GJkI9g [43])
* Trian Fund Management has built a stake of 7.24 percent in Pentair Plc, a maker of pumps and valves, and is asking the company to consider buying up rivals. (http://on.wsj.com/1efMpQp [44])
* The Supreme Court denied Google Inc's attempt to overturn a ruling in favor of Oracle Corp in a closely watched case over software copyrights. (http://on.wsj.com/1dsZTHI [45])
* Sysco Corp abandoned its planned acquisition of rival US Foods Inc following a federal judge's ruling against the deal, forcing the food-distribution giant to find a new strategy for its future that is likely to include smaller acquisitions. (http://on.wsj.com/1LEZalu [46])
FT
Former Xstrata boss Mick Davis' X2 Resources is in "serious" talks to purchase some of Rio Tinto Plc's Australian coal assets.
German prosecutors have launched preliminary inquiries into the roles individuals may have played in connection with Deutsche Bank's participation in the interest rate-rigging scandal.
Uber has confirmed that two of its most senior executives in France have been held in police custody in relation to a complaint filed last year by one of the country's taxi unions.
Chancellor George Osborne has announced help for British pensioners living in Greece and support for exporters that were impacted by the crisis in Greece. Osborne also advised British tourists to carry hundreds of euros in cash while travelling to Greece
NYT
* Beyond Greece and Puerto Rico, high borrowing is also bogging down the globally significant economies of Brazil, Turkey, Italy and China. (http://nyti.ms/1g4wRjt [47])
* Seeking to calm a whirlwind of uncertainty that has battered global markets, opened deep fissures in European unity and threatened to push Greece out of the eurozone, European leaders insisted on Monday that a deal was still possible to settle Greece's spiraling debt crisis. But they gave no indication that this could happen before Athens runs out of cash to pay loans due on Tuesday. (http://nyti.ms/1Jm5g75 [48])
* Limited to withdrawing 60 euros a day, Greece's citizens must decide how to vote in a referendum that could determine whether they abandon the currency. (http://nyti.ms/1Jm2yyt [49])
* Puerto Rico's governor, saying he needs to pull the island out of a "death spiral," has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions. (http://nyti.ms/1GLP5N8 [50])
* The SEC on Monday said that private equity giant Kohlberg Kravis Roberts & Company breached its fiduciary duty when it passed along more than $17 million in "broken deal" expenses to its investors. The action is expected to lay the groundwork for similar cases in the coming months. (http://nyti.ms/1dtNdAd [51])
Canada
THE GLOBE AND MAIL
** WestJet Airlines Ltd says six passengers sustained injuries during an emergency evacuation when one of its flights was diverted to Winnipeg on Monday night due to what the company has only termed "a threat". (http://bit.ly/1GJJbLC [52])
** Ottawa has warned Canadians travelling to Greece to expect long lines at ATMs amid a shortage of hard currency throughout the country, and to have more than one means of payment, including enough cash to cover all travel expenses. (http://bit.ly/1egg23R [53])
** The Grain Farmers of Ontario has gone to court to delay the implementation of restrictions on the use of pesticides some blame for the decline in populations of bees and other pollinators. (http://bit.ly/1LFqNLj [54])
NATIONAL POST
** Quebec Premier Philippe Couillard officially launched the Liberal's maritime strategy on Monday, presenting a blueprint for an estimated C$9 billion ($7.27 billion)in investments over the next 15 years to develop industry and commerce in the province along the St. Lawrence River to where it meets the Atlantic Ocean. (http://bit.ly/1FN7M1h [55])
** Liberal Leader Justin Trudeau has unveiled his environmental platform, saying he would work with the provinces to put a price on carbon pollution if he becomes Canada's next prime minister. (http://bit.ly/1IpEOee [56])
** Porter Airlines has been fined C$150,000 for violating the CRTC's anti-spam legislation. The CRTC says the Toronto-based airline has agreed to pay the fine for sending emails without an unsubscribe button or one that was clearly labelled. (http://bit.ly/1GWAWPC [57])
China
SECURITIES JOURNAL
- The upward trend in China's stock market has not changed given a growing economy, ample liquidity and expectations of further reform policies, the newspaper said in a commentary, citing analysts.
21st CENTURY BUSINESS HERALD
- China's economic growth could be 6.96 percent in the first half of this year and 6.97 percent in the whole year, said Wang Hongju, director of the Chinese Academy of Social Sciences, adding the nation could continue to cut interest rate in the next six months.
- Approvals by the National Development and Reform Commission for infrastructure project investment in June hit 250 billion yuan ($40.27 billion), according to the newspaper's calculations.
Britain
The Times
The Bank of England's chief economist has warned that an interest rates rise could damage Britain's fragile economic recovery. Andy Haldane will use a speech on Tuesday to say that the prospect of a rise in rates is just as likely as a cut, as he lays out his argument for why consumers and businesses would struggle. (http://thetim.es/1JtH7ys [58])
Sterling touched a 7-1/2-year high against the euro yesterday as rattled investors reacted badly to the breakdown of talks between Greece and its creditors. (http://thetim.es/1GVZCaV [59])
The Guardian
Tate & Lyle has given its new finance director, Nick Hampton, 700,000 pounds ($1.10 million) in shares, after the company's poor performance made it unlikely he would collect the full share bonus he had expected when he joined the company. Nick Hampton was promised 2.6 million pounds in shares, but one portion of that has been replaced following a fall in the company's market value. (http://bit.ly/1JljBAJ [60])
British Secretary of State for Business Sajid Javid on Monday night criticised the Confederation of British Industry's stance over the European Union referendum, overshadowing the appointment of its new boss, Carolyn Fairbairn. (http://bit.ly/1efqt7Z [61])
The Telegraph
French authorities have detained two executives working for ride-sharing company Uber in an ongoing battle over the service's legality. Authorities said that they were being questioned over "illicit activity." (http://bit.ly/1SZbDSd [62])
Greece has threatened to seek a court injunction against European Union institutions, both to block the country's expulsion from the euro and to halt asphyxiation of the banking system. "The Greek government will make use of all our legal rights," said the finance minister, Yanis Varoufakis. (http://bit.ly/1eVXV4a [63])
Sky News
The BBC has lost control of the rights to the Olympic Games after the International Olympic Committee sealed a 920 million pound pan-European deal with Discovery, the U.S. broadcaster that owns Eurosport. Discovery will take control of the UK rights from 2022, as the BBC has already secured exclusive rights to the 2016, 2018 and 2020 Games. (http://bit.ly/1FLxhQu [64])
Plans by Cuadrilla Resources to frack for shale gas in Lancashire have been rejected by county councillors. The company had been seeking permission for exploratory drilling and fracking in Little Plumpton, between Preston and Blackpool. (http://bit.ly/1R0nq5e [65])
The Independent
The British government is reportedly considering moving the state-owned broadcaster Channel 4 to Birmingham. If such a move was agreed, Channel 4 would sell its headquarters in Westminster and follow HSBC Holdings, Deutsche Bank and others in moving staff to Birmingham. (http://ind.pn/1NuDaHN [66])
