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  • WASHINGTON— Salaried workers who earn nearly $1,000 per week would become eligible for overtime pay under a proposal President Barack Obama unveiled Monday, lamenting that too many Americans are working too many hours for less pay than they deserve. The long-awaited overtime rule from the Labor Department would more than double the threshold at which...

  • *NBC drops' Miss USA' and' Miss Universe' pageants. June 29- NBC cut ties with U.S. presidential candidate Donald Trump and the "Miss USA" and "Miss Universe" pageants on Monday after the real estate developer and TV personality made comments insulting Mexicans earlier this month. The decision by Comcast Corp- owned NBC was announced four days after Spanish-language...

  • *Former bankruptcy judge: Puerto Rico "urgently needs our help". Steven Rhodes, the retired U.S. bankruptcy judge who oversaw Detroit's historic bankruptcy and has now been retained by Puerto Rico to help solve its problems, gave a blunt assessment on Monday. Puerto Rico "urgently needs our help," Rhodes said.

  • LONDON- Reserve Bank of Australia Governor Glenn Stevens speaks at an event hosted by Official Monetary and Financial Institutions Forum- 0840 GMT. LONDON- Bank of England's Paul Fisher speaks at the Financial Times Future of Insurance event- 0840 GMT. VIENNA- European Central Bank Governing Council member Ewald Nowotny to give a keynote speech at "Raiffeisen...

  • *EU in legal quandary over Greece in the euro zone. Greece's Finance Minister Yanis Varoufakis has said Greece had no intention of quitting and cannot be forced out. The government in Greece, where a majority of people say they want to retain the euro currency and their 35- year-old membership of the European Union, correctly points out that neither the treaty...

  • WASHINGTON— A rocket's dead, blown to bits in public view. After 18 straight successful launches, SpaceX's Falcon 9 rocket broke apart Sunday morning minutes after soaring away from Cape Canaveral, Florida. Russia also lost a supply shipment in April when its Progress capsule spun out of control.

  • WASHINGTON, June 29- As French Finance Minister in 2010, Christine Lagarde opposed the involvement of the International Monetary Fund in Greece. That the IMF lent to Greece at the behest of Europe, which has nominated every IMF Managing Director since the inception of the Fund in 1946, may expose the institution to greater scrutiny, especially as it has $24...

  • PUERTO RICO'S PADILLA CALLS FOR WASHINGTON TO EXTEND CHAPTER 9 BANKRUPTCY CODE TO PUERTO RICO.

  • The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 percent, up from 0.010 percent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.110 percent, up from 0.080 percent last week. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,994.44.

  • NEW YORK, June 29- Nearly two years ago Brazil sought U.S. investors' help to fund its seaports, railroads, highways and airports. She and other Brazilian officials visited New York on Monday, touting an open and transparent bidding process for contracts to operate roads, railways, airports and harbor terminals. "There is a clear and strong demand for infrastructure...

  • WASHINGTON— The largest federal employee union has filed a class action lawsuit against the federal personnel office and its leaders for failing to safeguard personal files from computer hackers. The suit argues that negligence by federal officials contributed to the cybertheft of private information on up to 18 million current and former employees or...

  • KIEV, June 29- The Ukrainian Finance Ministry kept up pressure on creditors on Monday before key restructuring talks, blaming a bondholder group for the deadlock in negotiations, but the bondholder group said the ministry's comments showed an inconsistency in Kiev's stance. Ukraine, which is seeking to plug a $15.3 billion funding gap, is meeting bondholders...

  • WASHINGTON— The supporters of the federal Export-Import Bank have the Senate votes to revive it and will get a chance to do so, Majority Leader Mitch McConnell said Monday. "Looks to me like they have the votes, and I'm going to give them the opportunity," McConnell, who opposes the bank, said in a telephone interview from Kentucky, where he is spending Congress' July 4...

  • WASHINGTON— Figures on government spending and debt.

  • WASHINGTON— Solid job growth is finally boosting paychecks for the rest of us. Incomes for the bottom 99 percent of American families rose 3.3 percent last year to $47,213, the biggest annual gain in the past 15 years, according to data compiled by economist Emmanuel Saez and released Monday by the Washington Center for Equitable Growth. "For the bottom 99 percent...

  • WASHINGTON— The largest federal employee union filed a class action lawsuit Monday against the federal personnel office, its leaders and one of its contractors, arguing that negligence contributed to what government officials are calling one of the most damaging cyberthefts in U.S. history. The suit by the American Federation of Government Employees names...

  • BRUSSELS, June 29- China used an EU summit on Monday to promise to invest in the bloc's new infrastructure fund, call for a global climate deal and warn it did not want to see Greece leave the euro zone. Premier Li Keqiang, in Europe on a day when financial markets took fright that Greece might leave the euro, said China and the world wanted to see Athens remain in the...

  • Five Democratic and two Republican members of Congress watched as Obama affixed his name to the two bills. The trade bill gives Congress the right to approve or reject trade agreements, but not change or delay them. "I think it's fair to say that getting these bills through Congress has not been easy," Obama said.

  • WASHINGTON— The White House threw cold water Monday on the notion of bailing out Puerto Rico from its financial crisis, instead urging Congress to consider changing the law so the island can declare bankruptcy. But White House spokesman Josh Earnest said the federal government would provide financial expertise and access to existing resources— but not a...

  • *Yen sharply higher after Greece fails to reach deal, sets vote. Greece looks virtually certain to miss a $1.77 billion debt repayment to the International Monetary Fund on Tuesday as the country's European partners shut the door on extending a credit lifeline. Greece Prime Minister Alexis Tsipras announced bank holidays and other capital controls to keep...