Good morning everyone. Despite coming home to one of the worst homecomings since Agamemnon, Greek Prime Minister Alexis Tsipras just saw his government approve the austerity measures required to reopen bailout talks. Over half of the 300-strong Greek parliament voted for the bill, keeping Greece in the Euro and allowing them to open talks for a three-year, $94 billion aid package. Meanwhile, the Fed’s beige book says that U.S. economic activity “expanded from mid-May through June.”
Here’s what else you need to know:
Chinese futures point to another down day. In its most recent trading, futures on the FTSE China A50, the Hang Seng Enterprises Index, as well as the CSI 300 all slipped at least 0.2%. Hong Kong’s HSI meanwhile slumped 0.1%, while Japan’s Nikkei 225 are currently bidding up in Osaka. Bloomberg
Brazilian police raid home of former president. Taking the Petrobras corruption probe all the way up to eleven, Brazilian police have raided the homes of Fernando Collor – Brazil’s former President and current Senator – as well as those of two congressmen, confiscating a Porsche, a Lamborghini, and a Ferrari from Collor in the process. Two of Brazil’s most powerful billionaires – Marcelo Odebrecht and Otavio Azevedo – were arrested in connection to the probe a few months ago, making this one of the nation’s largest graft and corruption investigations ever. Financial Times (paywall)
Toshiba set to be slammed with $3 billion fine. In the midst of Shinzo Abe’s campaign to improve Japan’s corporate governance, electronics giant Toshiba is reportedly set to be charged between $2.4 to $3.2 billion in connection to its recent accounting scandal. An investigation has found the company to have overstated profits for six years, and is reportedly looking into the roles senior executives had in the irregularities. Reuters
Donald Trump stays classy. Donald Trump’s campaign is set to reveal details of his wealth today, which could be quite vast considering his recent claims: “I have a Gucci store worth more than Romney,” “the numbers will be far in excess of what anybody thought,” and “my accountants have been working for months, because it is big and complex.” Yahoo! (video)
Photo credit: Wolfgang Staudt via Flickr