- Greek offer to creditors runs into angry backlash at home (Reuters)
- Tsipras Seeks to Stave Off Greek Defections Over Aid Plan (BBG)
- Austria finmin says no agreement on Greek proposals without concrete plan (Reuters)
- Another ELA raise, this time under €1 billion: ECB raises emergency funding for Greek banks (Reuters)
- Greek energy, foreign ministers divided on Russia gas deal (Reuters)
- China’s Plan for Local Debt Amounts to a Bailout (WSJ)
- Key Democratic senators back plan for trade legislation (Reuters)
- South Carolina Governor: Time to Furl Flag (WSJ)
- Wall Street Diverges as Gorman and Blankfein Take Opposite Paths (BBG)
- Uber Lands Big Chinese Backer (WSJ)
- Big Days Dying Off in U.S. Stocks With No 2% Move Since December (BBG)
- Cheap Energy Poised to Shake Up Pipeline Industry (WSJ)
- In twist, scientists join tobacco companies to fight cancer (Reuters)
- We'll Meet More Often, U.S. Navy Captain Says to China (BBG)
- Alibaba Stumbles in American E-Commerce Market (WSJ)
- China aims to challenge U.S. air dominance: Pentagon (Reuters)
- 'Titanic' composer dies in California plane crash (Reuters)
- BlackBerry Misses Profit Estimates Amid Turnaround Efforts (BBG)
- Apple Yet to Disclose Payments for Artists (WSJ)
Overnight Media Digest
WSJ
* South Carolina Governor Nikki Haley called for removing the Confederate battle flag from the statehouse grounds, five days after the Charleston church shooting. (http://on.wsj.com/1Ng1QEn)
* Chinese fund manager Hillhouse Capital Group is leading an investment of nearly $1 billion in Uber Technologies Inc that involves purchasing bonds that would convert into shares at a discount to the ride-hailing company's initial public offering price, according to people familiar with the situation. (http://on.wsj.com/1Ng2hyj)
* Japan's Sumitomo Mitsui Financial Group is interested in General Electric Co's U.S. railway leasing business, people familiar with the matter say, in a deal that could be worth $4 billion. (http://on.wsj.com/1Ng2eCB)
* Alibaba Group Holding Ltd is selling its U.S. subsidiary, 11 Main, to online marketplace OpenSky, after its first major foray into the American online shopping market failed to gain traction. (http://on.wsj.com/1Ng2mSN)
* Takata Corp overlooked internal signs of defective air bags for years and at one point halted global safety audits, according to a congressional report, ratcheting up pressure before a Tuesday Senate hearing.
FT
Powervault, a London-based startup, says its technology to capture and store electricity generated by domestic solar panels is more economical and targeted toward the British consumer. Since Powervault allows electricity to be stored and released when needed, the company says it could lead to power savings of up to 15 percent as compared with Tesla's home battery.
Two pharma companies, DBV Technologies from France and Aimmune Therapeutics from the U.S., are very near to developing drugs that could relieve people affected by peanut allergies. Both the under-development trials of the drugs have been granted a "breakthrough" designation by the U.S. Food and Drug Administration.
British bookmaker Ladbrokes PLC on Monday night confirmed that it was in merger talks with smaller rival Gala Coral.
The Competition and Markets Authority cleared the 774 million pound ($1.22 billion) takeover of Spirit Pub by Greene King, saying it is satisfied with Greene King's proposals and would no longer carry out an in-depth investigation.
NYT
* In the middle of what would become the largest automotive recall in American history, the Japanese airbag manufacturer Takata Corp halted global safety audits to save money, according to internal company emails cited in a report published on Monday by a Senate committee. (http://nyti.ms/1GkiZYC)
* Planet Fitness began a sprint toward the stock markets on Monday, filing for an initial public offering roughly two years after allying itself with a private equity firm. In the prospectus, Planet Fitness listed a preliminary $100 million fund-raising target, a figure meant to determine listing fees.(http://nyti.ms/1LhSlFx)
* A leading privacy rights group wants the Federal Trade Commission to prohibit Uber from instituting changes to its privacy policy that the group says will allow the ride-hailing app to collect more detailed data about customers' whereabouts and use their contact lists to send their friends promotional pitches. (http://nyti.ms/1K8MfIl)
* The American drug maker Alvogen said on Monday that a consortium of investors led by the European private equity firm CVC Capital Partners had agreed to acquire a controlling stake in the company. (http://nyti.ms/1K7CvfL)
Hong Kong
SOUTH CHINA MORNING POST
-- Administrative or medical blunders are expected to be settled quicker under a government proposal to introduce a "sorry law" that seeks to separate an apology from legal liability. Under the proposed apology legislation, a court cannot admit an apology as evidence even if the apology includes an admission of fault or liability. (bit.ly/1FxtJRR)
-- A majority of the members of the University of Hong Kong's governing body are likely to endorse an inquiry report that criticised the handling of donations by an Occupy co-founder and his supervisor. Two sources familiar with the issue said HKU Council members were asked to vote by secret ballot on how the controversial matter should be concluded. (bit.ly/1Jfyasc)
THE STANDARD
-- Protesters occupying an area surrounding the Legislative Council and Central Government Offices at Tamar have been issued notices to leave the area. Officers of the Lands Department posted notices on Tim Mei Avenue requesting protesters to vacate the "Tent Village" by Wednesday. Notices were also slipped into tents. (bit.ly/1GweklK)
-- Central was the world's second-most expensive location for office space last month, and West Kowloon the sixth, as a growing number of mainland financial firms march into Hong Kong, a semi-annual survey by CBRE Research has found. (bit.ly/1H9ZGqP)
-- Li & Fung plans to form a joint venture with two Chinese department store operators to help the retailers develop their own brands of clothing, a person familiar with the matter said. Li & Fung said it will have a signing ceremony in Shanghai on Tuesday to announce the partnership with Shanghai Bailian Group and Beijing Wangfujing Department Store Group. (bit.ly/1eFeNw2)
HONG KONG ECONOMIC TIMES
-- Bright Smart Securities & Commodities Group Ltd said its net profit for the year ended in March 2015, rose 31 percent year-on-year to HK$218 million ($28 million). It declared a distribution of final dividend of 3.8 Hong Kong cents, down 16 percent from a year ago.
Britain
The Times
Ladbrokes confirmed that it was in early discussions with Gala Coral Group over a 3 billion stg ($4.75 billion) to 4 billion stg deal that would create a betting business with a combined high street estate of almost 4,000 bookies' shops. (http://thetim.es/1IaGvft)
Reid Hoffman, the co-founder of LinkedIn Corp, and Sherry Coutu, the technology investor, have launched an organisation dedicated to turning British start-ups into world-beaters. The "Scale-Up Institute" says that it will address Britain's weakness in making its most promising small companies into global giants. (http://thetim.es/1BxCtwh)
The Guardian
Questionnaire by UK's grocery regulator Groceries Code Adjudicator reveals 30 percent of direct suppliers say UK's biggest supermarket Tesco rarely complies with industry code. Suppliers have rated the retailer as the worst of the major supermarkets at complying with a government-backed industry code designed to protect manufacturers.(http://bit.ly/1Rrb2pZ)
David Cameron's plans to focus 12 billion stg of welfare cuts on slashing tax credits and other working-age benefits look set to be "extremely unfair" on the families who will lose money, the right-leaning Institute of Economic Affairs thinktank has said. (http://bit.ly/1N1V5oJ)
The Telegraph
RSA Insurance Group pledged to appeal an employment tribunal's decision to award the former head of its Irish unit 1.25 million euros ($1.42 million) in an unfair dismissal case, a record payout for such a claim. (http://bit.ly/1GjGKjM)
GlaxoSmithKline has agreed to sell two meningitis vaccines to U.S. drug rival Pfizer Inc for 82 million stg to gain clearance from Brussels for its three-way deal with Novartis AG. (http://bit.ly/1H9U0gz)
Sky News
Ferrero Rocher is to buy the struggling UK confectioner Thorntons, in a deal worth around 112 million stg. The board of the Derbyshire-based firm said it had agreed an offer from its Italian rival that represents 145p a share. (http://bit.ly/1JdMqSl)
The Prudential Regulation Authority and Financial Conduct Authority have decided not to impose an outright ban for banks on so-called bonus buyouts, and will instead opt for less draconian measures to police their practice. Bonus buyouts have been a common feature of banks' efforts to lure rivals' star traders and advisers.(http://bit.ly/1JfoQ7L)
The Independent
Fraudsters have fleeced people of 23.6 million stg in the past year by tricking them into transferring cash into dodgy bank accounts. Now Neighbourhood Watch is hoping its army of 173,000 volunteers can crack down on the crooks and help people avoid becoming victims. (http://ind.pn/1LhiAMo)
Hospitals are pushing young medics to the brink of "burnout" by relying on them to work extra hours to plug long-term gaps in ward rotas, leading doctors have warned, after new research showed that the effects of NHS staff shortages are worsening. (http://ind.pn/1fo7AAs)