Good morning! Here’s what you need to know.
Brexit means more expensive stuff. British Prime Minister David Cameron warned voters on Sunday that they would face higher grocery bills if the country decides to leave the European Union at a June 23 referendum, citing a potential drop in the value of sterling.
Spain is going back to the polls. Spain’s center-right People’s Party is on course to increase its share of the vote in a general election next month, a poll showed on Sunday, but it may not be enough to end political stalemate in the country.
H&M is cracking down on sweatshops. Swedish fashion retailer Hennes & Mauritz said it was collaborating with trade unions, government as well as the U.N. to improve workers’ conditions after a study found violations in supplying garment factories in India and Cambodia.
A major US company has lost contact with its owner. Viacom said on Saturday its board members have been unable to meet with controlling shareholder Sumner Redstone because his daughter Shari is blocking access to the media mogul.
Puerto Rico’s debt negotiations are getting heated. Hedge funds who own debt at Puerto Rico’s Government Development Bank are accusing the bank and the island’s governor of giving preferential treatment to local creditors under a law designed to restructure debt, signalling a breakdown in a tentative restructuring deal the sides reached earlier this month.
Brexit is looking less likely. The campaign to keep Britain in the European Union extended its lead over the “Out” campaign in an opinion poll published on Saturday, while two major bookmakers offered the shortest odds to date on a vote to remain.
Greece goes deeper into austerity. Greece on Sunday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation.
Beijing had a warning for Taiwan. Beijing warned Taiwan it would cut off critical contacts with the island if its new president Tsai Ing-wen does not state her support for the concept that there is only “one China,” state media reported.
Austria is electing a president. Austria’s closely-watched presidential election was too close to call, as projections showed a near dead heat between Norbert Hofer of the far-right Freedom Party and ecologist Alexander van der Bellen.
France is facing a petrol shortage. Hundreds of petrol stations faced shortages in France as protests over a labour law reform led to a fall in refinery output and blockades that hampered fuel supply and prompted consumer panic.