Early Headlines: China GDP Surprise: 7% Again, Shanghai Stocks Fall Again, Wholesale Deflation in India, IMF May Reject Greek Deal and More

July 15th, 2015
in News, econ_news, syndication

Early Bird Headlines 15 July 2015

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  • Euro zone wrestles over emergency financing for Greece (Reuters) Euro zone finance officials were struggling on Tuesday to find a way of keeping Greece from defaulting on debt repayments to the ECB next week, with up to six options on the table but none that is problem-free. Greece needs €3.5 billion ($3.9 billion) by Monday to redeem its maturing credit from the European Central Bank. Before this is paid, another €2 billion is past due to the IMF. A total of €12 billion is owed by mid-August.



  • Oil rises as Iran exports seen slow to resume after deal (Reuters) Oil rose on Tuesday, reversing early losses and settling higher after it became apparent that a nuclear deal between Tehran and six global powers will not immediately remove sanctions placed on Iranian crude exports. Under the agreement, sanctions imposed by the United States, European Union and United Nations are to be lifted in exchange for curbs on Iran's nuclear program. But analysts said the fourth largest crude exporter will be able to raise oil shipments only gradually.


  • Wholesale inflation in negative zone (The Hindu) Deflationary trends continued for the eighth month in a row in June with the wholesale price inflation slipping to -2.4 %, largely due to cheaper vegetable and fuel prices.



  • Why Greenpeace Leads Us to Believe Chinese GDP Growth is Low (Balding's World) Electricity production is growing by only 0.2% year-over-year while GDP is growing 7%. Greenpeace says that "would require electricity efficiency gains never before seen in modern economic history".
  • China pays a price to avert stock market crash (The Business Times) China's Communist government has averted a stock market crash - for now - but it will take the world's second-largest economy longer to repair tarnished reform credentials and investment sentiment battered by its heavy-handed intervention.



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