Good morning! Here are 10 things you need to know in markets today.
Capital controls have come into force in Greece. Greek banks will remain closed until at least July 6, citizens will be limited to withdrawing €60 (£42, $US66) a day and the Athens Stock Exchange will be shut all week.
The Euro is tumbling amid fears of a Grexit. The Euro dropped almost 2% overnight, while futures are also down.
Asian markets are also nosediving on Eurozone worries. The Nikkei closed down over 2.4% overnight, while the Hang Seng is currently down 3.8% and the Shanghai Composite is down over 5%.
Puerto Rico is on the verge of default. Speaking Sunday evening the island’s governor, Alejandro García Padilla, said the commonwealth can’t pay its roughly $US72 billion (£45.8 billion) in debts.
SpaceX’s Falcon 9 rocket exploded Sunday only a few minutes after launch. The rocket, which was meant to be reusable, was an unmanned cargo capsule headed to the International Space Station.
China is expected to unveil its long-awaited national pledges to reduce carbon emissions beyond 2020. The world’s number one emitter has yet to put forward its intended nationally determined contribution (INDC), as the pledges are called by the UN Framework Convention on Climate Change (UNFCCC).
Amazon is reportedly planning to launch its business loan program for small sellers later this year in eight more countries including China. Until now, the online retailer has offered the working capital service only in the United States and Japan.
New York’s banking regulator is probing an emerging benchmark trading scandal relating to the suspected manipulation of US interest rate swaps. The FT reports that the Department of Financial Services is investigating the so-called Isdafix benchmark, which is used by traders to set the prices for interest rate swaps.
A London-based upmarket rival to home rental platform Airbnb has raised $US40 million (£25 million) from investors including Hyatt Hotels. onefinestay plans to use the money to expand to more cities in Europe.
Argentina will pursue in Britain and the United States a local judge’s order to seize assets of oil drillers operating in the disputed Falklands Islands. The Argentinian foreign minister said in an interview that the government will pursue the seizure of $US156 million (£99.3 million) in bank accounts, boats and other property of six European and U.S. oil companies operating in the islands.
Business Insider Emails & Alerts
Site highlights each day to your inbox.