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  • LONDON/ ATHENS, July 7- The cash economy emerging after the closure of Greece's banks is beginning to paralyze the country's vital olive oil industry as farmers demand cash for supplies that distributors are unable to pay. With the country's lenders at risk of default, Greece's half a million olive growers, many of them small family businesses, fear the banks will...

  • LONDON, July 7- Commercial bank borrowing from the European Central Bank has been high for years in the countries most affected by the sovereign debt crisis, while lending to banks in the euro zone core has fallen. The GDP column is the share of euro zone gross domestic product in 2013. The figures for July 2009 provide a comparison with the situation at the height...

  • BELGRADE, Serbia— There is a saying in the Balkans: "Indebted like Greece." Millions of people in Serbia, Albania, Bulgaria, Macedonia and Romania have their deposits in Greek bank subsidiaries in their own countries, putting the Balkans on the front line in the Greek crisis. On top of that, several countries in the region have substantial business and trade relations...

  • FRANKFURT, July 7- The European Central Bank cannot provide emergency funding to banks on overly generous terms or against insufficient collateral, it said on Tuesday, spelling out strict terms for banks in Greece and elsewhere to obtain such funds. The ECB, which has been providing an Emergency Liquidity Assistance lifeline to Greek banks, on Monday raised the...

  • EUROPEAN CENTRAL BANK SAYS CAN'T BE "OVERLY GENEROUS" WITH EMERGENCY LOANS- POLICY PAPER.

  • LONDON, July 7- British software company Sage is tying up with lenders Funding Circle and MarketInvoice to give its small business customers easier access to alternative sources of funds. Bank lending in Britain has been weak since the financial crisis and many small businesses have struggled to get finance from traditional lenders. MarketInvoice, which...

  • Athens has a last chance to present new reforms to eurozone leaders, despite a hardening attitude after Greece's rejection of previous bailouts, the FT reports.

  • Merk: Greece is a sideshow for world markets

    While the Greek crisis is "extremely tragic" for the country, it will remain a non-event for global markets, says Axel Merk, president and chief investment officer at Merk Investments.

  • Ross: Greek 'No' vote won't disrupt world markets

    Wilbur Ross, chairman and CEO of WL Ross & Co, says the referendum's results may disrupt Greece's economy, but it will have no consequences for global markets.

  • SYDNEY- Reserve Bank of Australia holds interest rate meeting- 0430 GMT. PARIS- Bank of France Governor Christian Noyer is due to speak about EU capital markets union at a financial sector conference- 0700 GMT. FRANKFURT- German's Bundesbank Board member Joachim Nagel to speak on "Asset Management of Public Pension Funds"- 1400 GMT.

  • WASHINGTON, July 6- The largest Wall Street banks on Monday published detailed manuals of how to shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators. "Our would effectively resolve the firm within a reasonable timeframe, without systemic disruption, without extraordinary...

  • *Decision keeps pressure on Athens. FRANKFURT/ ATHENS, July 6- The European Central Bank kept a tight funding grip on Greece's banks on Monday in a move that will see the country's shuttered lenders run out of cash soon. The measure ensures that Greek banks must stay closed for the time being and keeps pressure on Prime Minister Alexis Tsipras a day ahead of a meeting...

  • ATHENS, July 6- The ECB demanded an increase of around 10 percent on some Greek bank collateral offered for emergency funding although the overall impact of the change is set to be limited, a Greek banking source said on Monday. "The haircut increase on part of the collateral pool was about 10 percent... but it does not create any problems for any banks," said the source.

  • ATHENS/ LONDON, July 6- At least three companies in Greece including its biggest electronic appliances chain have paid staff in cash, after the country imposed limits on withdrawals from banks last week in an bid to ward off a possible collapse of its banking system. The moves by Greece's Kotsovolos, a unit of Britain's Dixons Carphone, and another two companies...

  • ATHENS, Greece— Greek defense minister: 5 parties to sign declaration backing PM Tsipras in negotiations.

  • ATHENS, Greece— The latest on the bailout referendum in Greece:. Greek Finance Minister Yanis Varoufakis has resigned, saying he was told shortly after the Greek referendum result that the other eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings. The president of the eurozone finance ministers' group,...

  • HONG KONG, July 6- Malaysia's economy, its banking system and government finances are not under systemic risk from developments at state fund 1 MDB, rating agency Moody's said on Monday. A Wall Street Journal report on Friday said investigators had traced nearly $700 million to bank accounts they believed belonged to Prime Minister Najib Razak.

  • FOREX-Euro holds ground in face of Greek 'No' Monday, 6 Jul 2015 | 7:22 AM ET

    LONDON, July 6- Foreign exchange markets reserved judgment on Greece's place in the euro and the overall solidity of the common currency project on Monday, prodding the euro just over half a cent lower after Greeks voted' No' to further austerity. The euro had sunk below $1.10 in initial trade in Asia after a vote that a number of major banks said made a' Grexit' the most...

  • Chinese small investors look for way out of stocks Monday, 6 Jul 2015 | 5:15 AM ET

    Shares of some state companies including PetroChina Ltd., Asia's biggest oil producer, and China's four major state-owned commercial banks rose by close to 10 percent. Trading of almost 900 other companies— out of a total of 2,802 on exchanges in Shanghai and the southern city of Shenzhen— fell by the maximum 10 percent daily limit permitted by regulators,...

  • Greece's banks could run out of cash within days and the European Central Bank's decision about whether to extend emergency liquidity will be crucial. Banks across Europe were hit by the threat that Greece's problems could spill over to other countries and derail an economic recovery, especially in other peripheral euro zone countries.

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