Traders channel Bill Murray on Greece, China: 'It just doesn't matter'
Summer camps are opening their bunks, and stock traders are chanting Bill Murray’s dismissive rallying cry from that classic camp movie “Meatballs”: “It just doesn’t matter.”
MONEY (MSM)
Toyota in damage control mode after American exec arrested
Toyota Motor Corp moved into damage control mode on Friday after its new communications chief Julie Hamp, an American and its first senior woman executive, was arrested on suspicion of illegally bringing pain killers into Japan just two months after her appointment. Toyota President Akio Toyoda apologized for the incident at a news conference and reiterated the company’s belief that Hamp had no intent of breaking the law. Japanese media
Hershey to cut about 300 jobs, lowers 2015 revenue outlook
Hershey is expected to cut about 300 jobs by the end of the year as it looks to simplify its operations. The candy maker also cut its revenue outlook for the year. The company has approximately 13,000 …
Russia willing to consider loans for Greece
Russia is willing to consider giving financial aid to Greece, a Russian government official said Friday ahead of talks between the leaders of the two countries.
China shares underperform Asia on IPO woes
Asian shares outside Shanghai surged from the get-go on the final trading day of the week, as the impressive lead from Wall Street helped to sooth market jitters concerning Greece.
Google told to expect large fines in EU antitrust probe
The European Union threatened to levy fines on Google Inc. that would be large enough to act as a deterrent after accusing the U.S. search-engine giant of squeezing out rivals in the comparison-shopping market. The EU’s competition watchdog told Google it could face a fine based on its AdWords revenue stemming from European users, according to a version of the statement of objections released to complainants and seen by Bloomberg.
Toyota: American exec did not intend to break Japan law
Toyota Motor Corp. President Akio Toyoda said Friday he believes an American executive arrested on suspicion of importing a controlled drug into Japan had no intention of breaking the law. Julie Hamp, …
Greek bank deposit outflows topped 1 billion euros on Thursday
Greek savers pulled more than 1 billion euros from banks in one day on Thursday, three senior banking sources told Reuters, with the pace of withdrawals gaining speed since talks between the government and its creditors collapsed last weekend. The withdrawals between Monday and Thursday have reached about 3 billion euros (£2.1 billion), representing about 2.2 percent of household and corporate deposits held by Greek banks at the end of
Oil falls toward $63, ample supplies and Greece weigh
Brent crude (LCOc1) for August had dropped $1.00 to $63.26 as of 9.45 a.m. EDT, while U.S. crude for July (CLc1) was down 78 cents at $59.67. “Oil markets are not pricing much in terms of Greek risk but most of the European oil demand growth this year is coming from the southern countries,” said Olivier Jakob of Petromatrix in Zug, Switzerland.
Tsipras optimistic on Greek debt deal as banks bleed
Greeks pulled more than 1 billion euros out of their banks in a single day, banking sources said on Friday, as the country edged closer to default despite assurances from Prime Minister Alexis Tsipras that the doomsayers are wrong. The Greek central bank – which has warned that the country’s future in the euro and even the European Union is at risk unless the government strikes a deal with its