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June 16, 2015 MONEY (MSM)

Tsipras says lenders seeking to 'humiliate' Greek government

Greek Prime Minister Alexis Tsipras defied what he called an attempt to “humiliate” his government on Tuesday, saying that an insistence by international lenders on further cuts was politically motivated. “The mandate we have got from the Greek people is to end austerity policy,” he told lawmakers in his leftist Syriza party.

June 16, 2015 MONEY (MSM)

World faces longest oil glut in at least three decades

Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the 1997 Asian economic crisis, International Energy Agency data show. If the Organization of Petroleum Exporting Countries were to keep pumping at current rates it would become the longest surplus since at least 1985 by the third quarter, the data show. Saudi Arabia, OPEC’s biggest member, will probably increase production to intensify pressure

June 16, 2015 MONEY (MSM)

Gap to close 175 stores, cut jobs at headquarters

Apparel retailer Gap Inc (GPS.N) said it would close a quarter of Gap specialty stores in North America over the next few years, including 140 this year, potentially affecting thousands of jobs as the company struggles with a slump in sales at its namesake brand. The company did not say how many employees would be laid off as a result of the store closures. As of Jan. 31, Gap had