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  • FRANKFURT, Germany— After two bailouts totaling 240 billion euros and six years of depression, spending cuts and lost jobs, Greece teeters on the edge of collapse. Ahead of the vote, here are seven short explanations of how Greece got into today's mess:. There is no way around it: Greece engaged in a three-decades-long credit binge starting in the early 1980 s,...

  • *Germany's Schaeuble says Greece might lose euro "temporarily". ATHENS, July 4- Greece's finance minister accused creditors of trying to "terrorise" Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced from the euro after a referendum on Sunday on bailout terms. The left-wing government is urging a "No" vote, saying...

  • FRANKFURT, July 4- German gun maker Heckler& Koch is going to court to rescue the reputation of its G36 gun, its signature product whose quality has been questioned by the German government. Germany is still reluctant to send its troops to crisis zones, 70 years after the end of World War Two. Germany has recently reversed course on arms exports following a storm of...

  • *European Commission president sees vote as danger to EU. BRUSSELS, July 4- It's sultry early July and an emotional Jean-Claude Juncker is on the stump, calling for a' Yes' vote in a referendum on which he says hangs the future of Europe- and his own career. "A' Yes'... would have a significance... well beyond Europe," he tells voters.

  • Greece could leave the euro. For Greece, the short-term pain and turmoil could be extreme whereas the currency union would likely survive the initial shock. Ironically, a few experts think one of the most devastating outcomes for the euro would be if Greece leaves and, against all expectation, thrives.

  • ATHENS, Greece— Campaigns halt in Greece on Saturday on the eve of a closely watched bailout referendum— with voters in a dead heat over whether to defy creditors and push for better repayment terms or essentially seek new political leadership to find a compromise. Rival rallies took place a half-mile apart in central Athens late Friday, and Tsipras made his...

  • *Publication highlighted dispute between Brussels and Washington. BRUSSELS, July 3- Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece's debt burden which the leftist government says vindicates its call to voters to reject bailout terms, sources familiar with the situation said on Friday. The document released in...

  • *Tunisia caters to those seeking good value, all-inclusive. *Spain and Bulgaria offer similar holidays. BERLIN, July 3- Fearing for their safety in Tunisia after a gunman killed dozens of tourists, sun-seeking Europeans are switching to destinations such as Spain, Bulgaria or even Greece for holidays this year.

  • The decision came two days before Greeks were set to vote in a referendum on whether to accept bailout terms rejected by their leftist government, with a' No' vote likely to put Greece on a path to leaving the euro zone. The European Financial Stability Facility said Tuesday's failure to pay the International Monetary Fund "results in an event of default by Greece,...

  • Oil rigs increased by 12 to 640 following a slump that cut the number of active U.S. rigs from a peak of 1,609 in October to a nearly five-year low last week, energy services firm Baker Hughes Inc said. "This is the first weekly increase in 30 weeks and is an indication that the slump in drilling activity has ended," said Carsten Fritsch, senior oil analyst at Commerzbank...

  • Clear-out underway in online cleaning market Friday, 3 Jul 2015 | 8:13 AM ET

    *Germany's Helpling buys Britain's Hassle.com. But whereas Airbnb and Uber quickly built the scale to dominate their markets, online cleaning services is a more open field, with U.S. pioneer Homejoy apparently in retreat after a rapid expansion in the United States, Canada and then Europe. The Homejoy site no longer accepts bookings in Canada, France or Germany,...

  • UPDATE 5-Oil drops on rising U.S. rig count Friday, 3 Jul 2015 | 4:22 AM ET

    "This is the first weekly increase in 30 weeks and is an indication that the slump in drilling activity has ended," said Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt. Brent crude for August was down 45 cents at $61.62 a barrel by 0800 GMT, extending a downward trend in place since early May, which has seen prices fall almost 10 percent.

  • Technology, progress bypass Chicago's pit traders Thursday, 2 Jul 2015 | 7:17 PM ET

    CHICAGO, July 2 (Reuters)- Technology has long benefited Chicago's futures exchanges, historians say, even though electronic trading is the final blow for its human brokers, rendering obsolete the "open-outcry" futures pits on the trading floor where they have worked for generations. The rough-and-tumble times of the floor were an iconic part of Chicago, and...

  • FRANKFURT, July 2- German potash miner K+ S rejected Potash Corp of Saskatchewan's 7.9 billion euro takeover bid on Thursday, saying it was too low and that the Canadian suitor could be planning to dismantle the company, putting jobs at risk. K+ S, which is the world's largest salt supplier but derives most of its earnings from potash fertilisers, also said it was not...

  • Business events scheduled for the coming week Thursday, 2 Jul 2015 | 1:46 PM ET

    BERLIN— Germany releases May industrial orders figures for Europe's biggest economy. WASHINGTON— Commerce Department releases international trade data for May, 8:30 a.m. Labor Department releases job openings and labor turnover survey for May, 10 a.m.; Federal Reserve releases consumer credit data for May, 3 p.m.. WASHINGTON— Labor Department releases...

  • The case for Greece: when it forgave Germany's debt Thursday, 2 Jul 2015 | 11:46 AM ET

    The International Monetary Fund certainly thinks so, according to a new report in which it argues Greece should get help. But Germany, another major creditor to Greece, is resisting, even though it knows better than most what debt relief can achieve. The 1953 agreement, in which Greece and about 20 other countries effectively wrote off a large chunk of Germany's...

  • BERLIN— A Google subsidiary has apologized for making Nazi concentration camps part of a mobile role-playing game. Niantic Labs says players of' Ingress' can propose historic location and monuments for inclusion in the game, in which two factions use smartphones to battle for control of these sites. In a statement to The Associated Press, Niantic Labs' founder...

  • BERLIN— The German government is scrapping plans for a levy on the most-polluting coal-fired power stations and will instead phase some of the plants out. The Economy Ministry said Thursday that 13 percent of Germany's total lignite-burning power plant capacity will be put into a reserve role and then phased out entirely after four years.

  • BERLIN, July 2- Germany has abandoned plans for a levy on coal-fired power plants but will reduce brown-coal power generation to safeguard its 2020 carbon-reduction targets, coalition leaders agreed on Thursday. The plans, which follow months of wrangling within Angela Merkel's government, were welcomed by industry but condemned by environmental groups...

  • LONDON, July 2- The dollar was near a three-week high on Thursday and world stock markets had a delicate feel, as the implication of U.S. jobs data later for a possible Fed rate hike added to Europe's uncertainty over Greece. Europe's main bourses in London, Frankfurt and Paris and Milan opened largely flat having rallied on Wednesday but the mood remained skittish...