It will be another nervy session in Asia Wednesday after Greece officially defaulted on its debts with the IMF, according to Reuters. How will this impact on the still fragile sentiment among investors who fled in droves Monday after Greece and its creditors failed to come up with a debt relief plan for the beleaguered country over the weekend? Are we going to see more sellers? Investors could get some solace from Wall Street overnight, which closed slightly higher.
Hong Kong markets are closed Wednesday for SAR Establishment Day. The Toronto Stock Exchange is also closed Wednesday for Canada Day. The U.S. markets will be closed Friday for Independence Day.
Sydney aspires for yuan trading hub status. Just like London and Hong Kong, the city wants to become another offshore yuan center. Australia is one of the countries that will have a stake in the China-led Asian Infrastructure Investment Bank. For the first time last year, China became Australia’s biggest source of foreign investments. South China Morning Post (paywall)
China to acquire 75 Airbus jet. Chinese Premier Li Kequiang signed a contract for 45 A330 jets valued at $11 billion at list prices, with an option for 30 more. Financial Times (paywall)
U.S.-Iran deal still to come. The U.S. State Department announced that the deadline for its negotiations with Iran over a nuclear deal have been pushed off from Monday, June 30, to Tuesday, July 7. A final deal must be submitted to Congress by July 9. ABC
When life gives you lemons make vodka? A German entrepreneur has trademarked the word “Grexit” and created a lemon-flavored vodka to share the name. The vodka’s tagline, translated to English, reads: “even sour fruit is good.” Newsweek
Call me, maybe. Europeans will be able to call their family and friends from anywhere in the E.U. without fear of roaming charges, beginning June 2017. In the 14 months prior to the switch, companies will continue adding surcharges, but at a reduced rate. BBC
Wisconsin for the win. The Midwestern state is ranked number one for alcohol consumption as the state that drinks the most, has the highest number of binge drinkers, and the highest percentage of heavy drinkers. Washington, D.C. is close behind. Vanity Fair
Photo by iStock @Ugurhan Betin