- Greece Said to Submit Revised Budget Plan in Bid for Funding (BBG)
- Protesters seek firing of Texas officer who threw girl to ground (Reuters)
- HSBC to cut 50,000 jobs in quest for higher dividends (Reuters)
- U.S. base shipped live anthrax to 19 states plus D.C.: Pentagon (Reuters)
- Obama Administration Opens Door for More Student-Debt Forgiveness (WSJ)
- China Said to Weigh Margin Finance Rule Change Amid Stock Boom (BBG)
- Doctor who trained U.S. troops suspended for macabre techniques (Reuters)
- Exxon to Face Regulators’ Questions Over Quakes (WSJ)
- Apple Works to Refocus Its Devices at Nexus of Entertainment (BBG)
- Donald Rumsfeld: George W. Bush Was Wrong About Iraq (BBG)
- Merger Boom Spawns a CFO Surplus (WSJ)
- Governor Christie in spotlight as N.J. pension decision due Tuesday (Reuters)
- Draghi Economy Fails to Stoke Cash Machine for Europe Stocks (BBG)
- CNN Unveils New Studio to Produce Content for Advertisers (WSJ)
- The Alleged Flash-Trading Mastermind Lived With His Parents and Couldn’t Drive (BBG)
- Hong Kong issues 'red alert' against South Korea travel due to MERS (Reuters)
- Russian Pause in Dollar Purchases Helps to End Ruble’s Tumble (BBG)
Overnight Media Digest
WSJ
* Fiat Chrysler Automobiles NV Chief Executive Sergio Marchionne is reaching out to hedge funds and other potential allies to prod General Motors Co into a merger, according to people familiar with the matter. (http://on.wsj.com/1MjyoMG)
* Greece and its creditors are discussing an extension of the country's bailout program through March 2016, people familiar with the talks said, an offer aimed at breaking a protracted standoff over the terms for fresh aid and averting a Greek default. (http://on.wsj.com/1MDF8Wp)
* U.S. activist hedge fund Elliott Associates LP filed a court injunction to block a proposed $8 billion merger of two Samsung affiliates. (http://on.wsj.com/1JFgu7P)
* An Exxon Mobil Corp subsidiary and EOG Resources Inc, one of the biggest shale-oil and gas producers, will face state regulators over North Texas energy operations in hearings to assess some oil companies' role in causing Dallas-area earthquakes.(http://on.wsj.com/1AUuUzf)
* Apple Inc unveiled Apple Music - a new streaming service and an ad-supported online-radio offering - in an attempt to change how people buy and listen to music.(http://on.wsj.com/1QHg3ub)
FT
G7 leaders agreed the world should stop the use of fossil fuels this century. They said they support cutting global greenhouse gas emissions by 40 percent to 70 percent by 2050 from 2010 levels.
A high court in London asked the Royal Bank of Scotland to hand over documents regarding its negotiations with the FCA over its fine for Libor manipulation. Some documents will be inspected by the judge, while others are to be disclosed to the claimant, Property Alliance Group, which is seeking 30 million pounds, in damages, from the bank.
Private equity firm Apollo Global Management is in talks to buy Sanit-Gobain's Verallia unit for about 2.95 billion euros. The firm has won the bidding, beating four other bidders for the division including Blackstone Group LP, CVC Capital Partners, Ardian and Portuguese group Ba Vidro.
British health and beauty retailer Boots is cutting about 700 jobs as part of an overhaul of its business.
NYT
* After Iceland imposed capital controls during the global financial crisis, the move helped stabilize the country's banking system, putting the economy on a path to recovery. As Iceland now unwinds those controls nearly seven years later, the government is trying to prevent a mass exodus of money and keep the country from backsliding. (http://nyti.ms/1eZiInk)
* The French conglomerate Saint-Gobain said on Monday that it had begun exclusive talks to sell its glass-packaging unit Verallia to the private equity firm Apollo Global Management for about $3.3 billion. (http://nyti.ms/1KlU9gm)
* Syngenta said on Monday that it had rejected a second takeover approach from Monsanto, its American rival. Syngenta of Switzerland said it received another letter from Monsanto on Saturday, essentially repeating its prior offer to acquire the company for about $45 billion. Syngenta rejected a takeover bid by Monsanto in May, in part citing potential regulatory concerns. (http://nyti.ms/1MjZJy9)
* President Barack Obama would have preferred to spend the summit meeting of the leaders of the seven leading industrial nations fully focused on big issues that he hopes will define his legacy, including confronting climate change and expanding global trade. Instead, crisis diplomacy once again largely overshadowed those issues, as the leaders struggled to confront the threats posed by the Islamic State and the problem of Russia's involvement in Ukraine.(http://nyti.ms/1GnpJbS)
* German regulators played a role in the departures of Deutsche Bank's chief executives, according to two people briefed on the events that contributed to the leadership upheaval. (http://nyti.ms/1GnpJbS)
* A report from Paul Volcker's new foundation says that states are building up piles of debt and pushing costs to future generations of taxpayers. (http://nyti.ms/1dZdUhC)
* Faced with homegrown competition in China, Uber is offering its Chinese drivers bonuses of up to three times fares. (http://nyti.ms/1eZiInk)
Hong Kong
SOUTH CHINA MORNING POST
-- Lawmaker Ronny Tong Ka-wah has launched a think tank, Path of Democracy, that will seek a "third road" on political reform and aim to improve strained relations with the mainland. Tong, the convener of the 18-member group, said it would provide an alternative for supporters of the pan-democratic camp, which had lacked research initiatives. (http://bit.ly/1drCXZD)
-- Sun Hung Kai Properties released the price list for the first batch of flats at its The Ultima luxury residential development in Ho Man Tin, with a unit of more than 2,000 square feet listed at nearly HK$100 million ($12.90 million), a new benchmark for the area. (http://bit.ly/1QGH28Z)
-- China Eastern Airlines is close to introducing new widebody aircraft to its fleet, possibly the Airbus A350-900 or Boeing B787-9, as its North American routes have turned profitable for the first time, chairman Liu Shaoyong told the newspaper in an interview. (http://bit.ly/1KRHa3X)
THE STANDARD
-- Major travel agencies in Hong Kong agreed in principle to cancel all tours this month to South Korea, Travel Industry Council chairman Michael Wu said after the Hong Kong Department of Health issued a travel advice against South Korea amid the Middle East Respiratory Syndrome alarm. (http://bit.ly/1drE3EK)
HONG KONG ECONOMIC JOURNAL
-- Shimao Property Holdings will begin work on a 1,200-room hotel in Hong Kong's Tung Chung later this year involving an investment of up to HK$5 billion ($645.04 million), chairman Hui Wing Mau said after an annual general meeting
Britain
The Times
Five men apparently masquerading as migrants on board a British warship were arrested in Sicily on Sunday for suspected people smuggling after being identified by their alleged victims. (http://thetim.es/1T7ZwDv)
Transport ministers are monitoring the future of one of Britain's leading train companies after a bidding scandal cost the company's two senior executives their jobs. (http://thetim.es/1HXHkng)
The Guardian
Monsanto Co, the U.S. seed and agrochemicals group known for its genetically modified crops, wants to switch its headquarters from the United States to the UK as part of a complex merger deal designed to unlock tax savings for shareholders. (http://bit.ly/1drrWaS)
HSBC Holdings Plc has launched an investigation into one of its senior executives in connection with a major corporate scandal centered on deals made by Italy's largest insurer. (http://bit.ly/1KRx3ft)
The Telegraph
Pets At Home Group Plc's biggest shareholder is to almost halve its stake in the business in a share sale worth 300 million pounds at current prices. Private equity group Kohlberg Kravis Roberts used a regulatory announcement after the market closed on Monday to reveal it plans to place 108 million shares in the UK's leading pet care and products retailer. (http://bit.ly/1IzpQ6t)
Sky News
David Cameron has said he was "misinterpreted" over comments that suggested he had given ministers an ultimatum on the EU referendum. Speaking at the G7 summit in Germany, Cameron said he did not intend to imply that ministers who did not back a yes vote on the EU referendum should resign. (http://bit.ly/1IqRsYr)
A dispute over pension conditions at Tata Steel Ltd means the UK steel industry will witness the first strike for 30 years. Steel unions have confirmed that strike action against Tata Steel will take place on June 22. The action will be preceded by other disruption involving an overtime ban and a work to rule. This action will begin as soon as legally practical, the union indicated, likely to be around the middle of next week. (http://bit.ly/1cHisre)
The Independent
Boots is cutting 700 office jobs in the UK, a spokesman has confirmed. The pharmacy chain will lose 400 roles from its UK headquarters in Nottingham and another 300 from supporting roles in regions. Not all staff will lose their jobs outright, however, with voluntary losses, redeployments and retraining expected for some. (http://ind.pn/1RZEaGW)