China Freezes IPOs, Greek Vote Too Close to Call: Saturday WrapBernard Kohn
Here are highlights of news that broke around the world on the U.S. Independence Day holiday:
Pending IPOs in China were suspended, brokerage firms pledged $19 billion for a market stabilization program and the People’s Daily told people to “have confidence and patience, instead of losing their minds” as the government looked to stop the worst three-week slide in stock markets in more than two decades. The Shanghai Composite Index has fallen 29 percent since June 12 after surging more than 150 percent in a year.
Greeks prepared for Sunday’s referendum that may decide the country’s future in the euro zone. A Bloomberg News poll found an almost exact split, with 43 percent of Greeks looking to reject conditions set by creditors for another bailout and 42.5 percent saying “yes.”
There’s no done deal yet to curb Iran’s nuclear ambitions in exchange for sanctions relief. But they’re closer, with the UN saying it will be able to finish its work looking into nuclear development by Iran’s military.
The latest from WikiLeaks purports to show that the U.S. National Security Agency was spying not just on Brazilian President Dilma Rousseff, which was known, but also was monitoring the phones of 29 other officials, including the head of Brazil’s central bank. Rousseff’s office said it had accepted President Barack Obama’s assurances that all of that was in the past.
Donald Trump said he was caught off guard by the damage to his businesses that resulted from his incendiary remarks about Mexican immigrants.
Social media website Reddit’s moderated forums and rooms were mostly back up after a revolt by volunteers who administer the so-called subreddits virtually paralyzed them on Friday. The volunteers said they were upset by the firing of the Reddit executive who supervised them.
Tunisia’s president declared a 30-day state of emergency, saying the country wasn’t safe for either tourists or foreign investment after the beach massacre.
The head of South American soccer explained why he stayed away from the Copa America tournament: The FIFA scandal revealed so many unpaid bills that he’s had to spend all his time dealing with financial shortfalls.
The U.K. government will raise the threshold for inheritance taxes, an election promise made by Prime Minister David Cameron.
Malaysia is officially looking into the sources of what may be hundreds of millions of dollars in transfers into the prime minister’s bank accounts.
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