News Briefs

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US stocks slip after Greek ‘no’ vote; European markets sink

A man sells Greek and European Union flags during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. At midnight central Europe-time on Tuesday, the country is set to become the first developed nation to miss a debt repayment to the International Monetary Fund, as Greece sinks deeper into a financial emergency that has forced it put a nationwide lockdown on money withdrawals. (AP Photo/Daniel Ochoa de Olza)
A man sells Greek and European Union flags during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. (AP Photo/Daniel Ochoa de Olza)

Stocks are falling in the U.S., but not dramatically, joining a wave of selling across the globe Monday after Greeks voted overwhelmingly to reject the terms of the country’s latest bailout package.

U.S. government bond prices rose as investors sought safe places to park money. Oil drillers and other energy companies fell sharply as the price of oil sank 4.7 percent.

The euro fell 0.6 percent to $1.1043. The dollar slipped 0.1 percent to 122.77 Japanese yen.

 

Pope brings ‘church for the poor’ to South America’s poorest

FILE - In this April 29, 2014 file photo, Pope Francis presents Paraguay's President Horacio Cartes with the book of the gospel during a private audience at the Vatican. Pope Francis is taking his "church for the poor" to three of South America's poorest and most peripheral countries, making a grueling, week-long trip that will showcase the pope at his unpredictable best: speaking his native Spanish on his home turf about issues closest to his heart. (AP Photo/Gregorio Borgia, Pool, File)
In this April 29, 2014 file photo, Pope Francis presents Paraguay’s President Horacio Cartes with the book of the gospel during a private audience at the Vatican. Pope Francis is taking his “church for the poor” to three of South America’s poorest and most peripheral countries, making a grueling, week-long trip that will showcase the pope at his unpredictable best: speaking his native Spanish on his home turf about issues closest to his heart. (AP Photo/Gregorio Borgia, Pool, File)

Pope Francis is taking his “church for the poor” to three of South America’s poorest and most peripheral countries, making a grueling, week-long trip that will showcase the pope at his unpredictable best: speaking his native Spanish on his home turf about issues closest to his heart.

Indigenous peoples will take center stage during much of Francis’ July 5–13 visit to Ecuador, Bolivia and Paraguay, while Francis’ own Jesuit order will be in the spotlight for its role in evangelizing the continent.

Francis has 22 speeches planned, but he’ll likely ditch some or all of them and speak off the cuff as he tends to do when working in his mother tongue, lending an air of unpredictability to the trip (and alarm for his handlers).

 

Debate over Confederate flag begins

William Cheek, left, Nelson Waller, center, and Jim Collins, right, protest proposals to remove the Confederate flag from the grounds of the South Carolina Statehouse on Monday, July 6, 2015, in Columbia, S.C. The General Assembly returns Monday to discuss Gov. Nikki Haley's budget vetoes and what to do with the rebel flag that has flown over some part of the Statehouse for more than 50 years. (AP Photo/Jeffrey Collins)
William Cheek, left, Nelson Waller, center, and Jim Collins, right, protest proposals to remove the Confederate flag from the grounds of the South Carolina Statehouse on Monday, July 6, 2015, in Columbia, S.C. The General Assembly returns Monday to discuss Gov. Nikki Haley’s budget vetoes and what to do with the rebel flag that has flown over some part of the Statehouse for more than 50 years. (AP Photo/Jeffrey Collins)

South Carolina lawmakers begin debate over Confederate flag on July 6, debating whether to bring the Confederate flag down outside the Capitol, starting with a pair of senators whose families arrived in the state before the Civil War.

The Confederate flag “has more to do with what was going on in the 1960s as opposed to the 1860s,” said Republican Sen. Larry Martin, who is white and has fought off attempts to move the flag for decades.

Martin, whose family came to South Carolina’s northern backcountry in the early 1800s, said he changed his mind after nine people were shot to death during Bible study at a historic African-American church in Charleston by a man police say was motivated by racial hatred.

 

Obama signs trade, worker assistance bills into law

President Barack Obama, accompanied by Vice President Joe Biden, speaks in the Rose Garden of the White House in Washington, Wednesday, July 1, 2015. The president announced that US and Cuba have agreed to open embassies in each other's capitals, the biggest tangible step in the countries' historic bid to restore ties after more than a half-century of hostilities. (AP Photo/Pablo Martinez Monsivais)
President Barack Obama, accompanied by Vice President Joe Biden, speaks in the Rose Garden of the White House in Washington, Wednesday, July 1, 2015. The president announced that US and Cuba have agreed to open embassies in each other’s capitals, the biggest tangible step in the countries’ historic bid to restore ties after more than a half-century of hostilities. (AP Photo/Pablo Martinez Monsivais)

President Barak Obama signed into law two hard-fought bills giving him greater authority to negotiate international trade deals and providing aid to workers whose jobs are displaced by such pacts. The trade bill gives Congress the right to approve or reject trade agreements, but not change or delay them. Obama defied the wishes of most members of his Democratic Party and frayed relations with organized labor to push the legislation.

The 12-nation Trans-Pacific Partnership includes countries from Chile and Mexico to Japan and Australia and would give the United States greater economic influence in Asia, where China also seeks to be a dominant force.

 

Tsakalotos named as new Greek finance minister

Greek Prime Minister Alexis Tsipras, center, arrives to attend a meeting with Greek political party leaders at the Presidential Palace as Minister of State Nikos Pappas, left, and Government spokesman Gabriel Sakellaridis, right, follow him in Athens, Monday, July 6, 2015. Greek Finance Minister Yanis Varoufakis resigned Monday, saying he was told shortly after Greece's decisive referendum result that some other eurozone finance ministers and the country's other creditors would appreciate his not attending the ministers' meetings.(Giannis Kotsiaris/InTime News via AP) GREECE OUT
Greek Prime Minister Alexis Tsipras, center, arrives to attend a meeting with Greek political party leaders at the Presidential Palace as Minister of State Nikos Pappas, left, and Government spokesman Gabriel Sakellaridis, right, follow him in Athens, Monday, July 6, 2015. Greek Finance Minister Yanis Varoufakis resigned Monday, saying he was told shortly after Greece’s decisive referendum result that some other eurozone finance ministers and the country’s other creditors would appreciate his not attending the ministers’ meetings. (Giannis Kotsiaris/InTime News via AP)

The Greek government has named Euclid Tsakalotos as the country’s new finance minister, a day ahead of an emergency meeting with creditors in Brussels.

The 55-year-old economist was Prime Minister Alexis Tsipras’ lead bailout negotiator in talks that halted last month before Tsipras called a bailout referendum. In that referendum, Greeks overwhelmingly voted against recent creditor proposals required for bailout cash.

Tsakalotos replaces fellow-economist Yanis Varoufakis, who quit earlier on July 6, saying his departure would help bailout negotiations reach an agreement.

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