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Stocks, euro staggered by Greece; China rescue in doubt

SYDNEY/TOKYO - Asian stocks hit a six-month trough and the euro stumbled on Monday after a Greek vote against austerity measures endangered its future in the single currency and raised the risk of a full-blown crisis in the euro zone.

Recent Business News

Oil prices tumble after Greece vote, China stock market turmoil

SINGAPORE - Oil prices fell sharply on Monday after Greece rejected bailout terms and as China rolled out emergency measures to prevent a full-blown stock market crash, adding to worries about poor demand growth amid global oversupply.

China, Greece 3:00am EDT

China state media see a 'rainbow' after latest steps to stabilize slumping stocks

SHANGHAI - China's state media expressed confidence on Monday that an unprecedented flurry of support measures announced over the weekend would stabilize the country's slumping stock market.

05 Jul 2015

Zeroing in on empty homes, China throws developers a lifeline

BEIJING - Dismayed by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing.    Like a white knight riding to the rescue of distressed developers, a handful of local governments are snapping up thousands of empty homes at hefty discounts and re-selling them to the country's poorest households.

China, Housing Market 05 Jul 2015

Britain's banks call on government to phase out industry levy

LONDON - Britain's banks have called upon the government to phase out the bank levy, saying it is damaging the competitiveness of the industry and causing them to lose business to overseas rivals.

05 Jul 2015

Chipotle shares could plunge unless growth revives: Barron's

NEW YORK - Shares of Chipotle Mexican Grill Inc have lost some of their luster recently and unless growth revives at the company, the stock could see a 15 percent to 20 percent plunge, the July 6 edition of Barron's said.

05 Jul 2015

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