HERE are nine things making news in business and finance around the world today.
1. SYDNEY — The Australian dollar is lower after the breakdown in Greece’s talks with its creditors over its debt bailout. At 0630 AEST on Monday, the local unit was trading at 76.33 US cents, down from 77.02 cents on Friday.
2. SYDNEY — And the Australian share market looks set to open higher as Greece banks remain shut at the start of the week in a bid to avert a Black Monday following the breakdown in its debt bailout talks with creditors. At 0645 AEST on Monday, the share price index futures contract was up 10 points at 5,510.
3. WASHINGTON — The International Monetary Fund is carefully monitoring the unfolding financial crisis in Greece and neighbouring countries, and is ready to provide assistance “as needed,” managing director Christine Lagarde says.
4. ATHENS — Greek Prime Minister Alexis Tsipras has announced that the country’s crisis-hit banks will be shut on Monday and capital controls imposed to prevent withdrawals, after cash machines ran dry.
5. BERLIN — The ECB says it will keep open its emergency cash lifeline to debt-hit Greece but not increase help to banks, leaving the country facing a financial crunch as a bank run gathered pace.
6. WASHINGTON — US President Barack Obama and German Chancellor Angela Merkel have agreed that Greece needs to find its way back to a path of reform without exiting the eurozone, the White House says.
7. FRANKFURT — Near-zero interest rates could become chronic in the world’s major economies unless “a firm hand” is used.
8. HANOI — Vietnam says it will end restrictions limiting the stake foreigners can own in some locally-listed companies, the latest move by the communist country to open up to overseas investments.
9. ATLANTIC CITY — The owners of Atlantic City’s former Trump Plaza casino plan to keep it shut for at least 10 years as a tax-saving measure.