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  • BEIJING— In a flurry of new moves to halt a stock market slide, China's government on Wednesday told state-owned companies to buy shares, raised the amount of equities insurance companies can hold and promised more credit to finance trading. The latest orders come after emergency measures announced last weekend failed to halt a slump in which China's main...

  • Copper prices hit lowest level in six years on China worries. NEW YORK, July 7- Copper and other metals plunged on Tuesday as the euro sank to a five-week low against the dollar after the European Central Bank tightened lending conditions for Greek banks and as the collapse in equities prices in China drove fears about the country's economy.

  • 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...

  • BRUSSELS, July 7- European Central Bank chief Mario Draghi assured euro zone leaders on Tuesday the ECB would do the necessary to keep Greek banks afloat until an EU summit on Sunday that will seek a deal on further aid to Greece, German Chancellor Angela Merkel said. Speaking at a news conference after an emergency summit of euro zone leaders, Merkel said she was "...

  • LONDON/ ATHENS, July 7- Greek banks could start to run out of cash over the next two days if creditors do not agree to a new aid deal, two sources familiar with the country's financial system said on Tuesday. With withdrawals from cash machines rationed to a maximum of 60 euros a day and the banks shut since last week, supplies of banknotes have been dwindling fast.

  • 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...


  • 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...

  • Pedestrians pass in front of a Wall Street sign in New York.

    Goldman Sachs and Morgan Stanley would cease to exist under "living wills" drawn up to show how banks would handle bankruptcy in a crisis.

  • Unyielding euro zone gives Athens last chance Monday, 6 Jul 2015 | 11:17 PM ET

    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 Monday, 6 Jul 2015 | 10:19 PM ET
    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 Monday, 6 Jul 2015 | 7:25 PM ET
    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.

  • DIARY-Top Economic Events to July 21 Monday, 6 Jul 2015 | 8:00 PM ET

    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.

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