- Developed-Country Growth Slows, OECD Says (WSJ)
- Charter Agrees to Buy Time Warner Cable for About $55 Billion (BBG)
- Dollar hits one-month high as periphery woes weigh on Europe (Reuters)
- IMF Says Yuan No Longer Undervalued Amid Reserve-Status Push (BBG)
- Hanergy secured $200m loan ahead of solar group stock tumble (FT)
- Congressional Inaction Threatens NSA Spy Program (WSJ)
- Germany sees progress on Greece, EU officials to confer on Thursday (Reuters)
- Hayes ‘motivated by greed’, prosecutor says in Libor case (FT)
- Whistleblowers Find SEC Rewards Slow and Scarce (WSJ)
- JPMorgan’s Guilty Plea Puts Wealth Unit in Spot With Regulators (BBG)
- Jony Ive Named Apple’s Chief Design Officer (WSJ)
- Fight over hot new cholesterol drugs may be won in milligrams (Reuters)
- Who Will Be the Swing Voters in 2016? (WSJ)
- China Unveils Plans for Greater Naval Role Beyond Its Coasts (BBG)
- Big Banks Shut Border Branches in Effort to Avoid Dirty Money (WSJ)
- Bolivar Plunges in Black Market as Venezuelans Stash Dollars (BBG)
Overnight Media Digest
WSJ
* Charter Communications is close to a deal for Time Warner Cable that would give cable-mogul John Malone the prize he has been chasing. (http://on.wsj.com/1FbzbuM)
* A Securities and Exchange Commission program, set up under a 2010 law, offers financial rewards for information on wrongdoing. Many tipsters have found it tough to collect, however. (http://on.wsj.com/1LDEpnx)
* The U.S. Justice Department has reached a tentative settlement with the Cleveland police on a probe into patterns and practices of policing, according to a person familiar with the matter. (http://on.wsj.com/1HH77p0)
* Jony Ive, the man responsible for many of Apple Inc's breakthrough designs, is now the company's chief design officer. (http://on.wsj.com/1HHDfpE)
* Subsidies that made insurance plans affordable face a crucial test with decision expected in June. The court is expected by the end of June to rule on a lawsuit seeking to invalidate subsidies to more than 7.5 million people who bought plans on the federal exchange. (http://on.wsj.com/1Q7HA7Q)
FT
World's largest consumer goods company Procter & Gamble has become the first company in the world to explore 3D bioprinting, a technique that can make it possible to print living human tissues. This innovation could have several applications for P&G, including testing its products for toxicity and efficacy.
Having secured the necessary approvals from U.S. authorities, Royal Dutch Shell PLC may start drilling two wells in the Chukchi Sea of Alaska by late July. The success of this project will determine the future of oil exploration and drilling in Alaska.
PureTech Health, a Boston-based healthcare science and technology R&D company, is seeking to raise $160 million in an initial public offering of its shares on the London stock exchange.
British Prime Minister David Cameron will push ahead with his plans for providing discounted homes to more than 1.3 million people via the expanded "Right to Buy" housing bill. The bill may attract controversy since it forces not-for-profit landlords to sell their possessions at a discount.
NYT
* Charter Communications Inc is close to buying Time Warner Cable Inc, and a deal could be announced as soon as Tuesday, people close to the talks said. (http://nyti.ms/1J1jMlp)
* Similac's maker, the global health care company Abbott Laboratories, said it would first offer a "non-G.M.O." version of its best-selling Similac Advance, followed by a non-G.M.O. version of Similac Sensitive. Depending on sales, Abbott may offer other formulas free of such ingredients. (http://nyti.ms/1RiWudT)
* The investigation into the rigging of global benchmark interest rates at last yields a trial, which may also prove a measure of British controls on the finance industry. The British authorities have charged Tom Hayes, a 35-year-old former trader from Citigroup and UBS Group AG with eight counts of conspiracy to commit fraud. (http://nyti.ms/1eriFAp)
* A ruling against pension cuts and political divisions have made a dire situation worse for Illinois, as well as Chicago and its schools, which face shortfalls of their own. The shortfalls could potentially mean sharply higher taxes and cuts in spending. (http://nyti.ms/1FMzBeQ)
* The European Court of Justice is expected to issue a preliminary decision over whether Facebook Inc can continue transferring data between Europe and the United States. (http://nyti.ms/1HHark3)
Canada
THE GLOBE AND MAIL
** Royal Bank of Canada won't complete its $5.4 billion purchase of Los Angeles-based City National Bank for months, but the two banks are already getting a jump on doing business together. (http://bit.ly/1cXxzgI)
** Jaguar Land Rover Ltd officials took a close look at Canada as the location for a new assembly plant - including visiting a potential site in Windsor, Ontario - but the company is now planning to locate the factory in a low-cost country. (http://bit.ly/1cXxJoe)
** More than half of Canada's largest companies have adopted formal policies for increasing the proportion of women on their boards of directors, but only a small minority are creating specific targets for gender diversity. (http://bit.ly/1cXxOYZ)
NATIONAL POST
** Highly leveraged Penn West Petroleum Ltd said it got some relief from its creditors by agreeing that proceeds from any asset sales for the next two years would be used to repay its bonds. (http://bit.ly/1cXxTvQ)
** Alberta NDP premier Rachel Notley appointed Margaret McCuaig-Boyd, 62, the MLA for the rural riding of Dunvegan-Central Peace-Notley, as Alberta's new energy minister, a giant career leap for the former schoolteacher and family friend. (http://bit.ly/1cXxVE1)
China
CHINA SECURITIES JOURNAL
- State-owned enterprises (SOEs) in China have seen their profit margin fell 5.7 percent in the first four months compared with the same period a year earlier, the Ministry of Finance said.
- More than 270 companies that are listed on China's leading OTC board, the New Third Board, have raised fund of over 25 billion yuan ($4.03 billion) in May, the paper calculated.
SECURITIES TIMES
- Brokerages should strengthen their management on higher-risk margin trading businesses, said Zhang Yujun, assistant chairman at China's Securities Regulatory Commission (CSRC).
SHANGHAI SECURITIES NEWS
- Leshi Internet Information and Technology Corp said it would withdraw last year's refinancing plan of 4.5 billion yuan, and take out a new plan to raise 7.5 billion yuan instead. Jia Yueting, the founder and the chairman of the company, said he would reduce his shareholding in the next six months by less than 8 percent, or some exceeding 10 billion yuan.
Britain
The Times
Greece is bankrupt and will default on a debt repayment to the International Monetary Fund that is due in two weeks, the country's interior minister, Nikos Voutsis, said on Monday. (http://thetim.es/1EtOjlC)
The FBI is investigating claims that British users of Uber, the online taxi booking service, have had money taken from their accounts fraudulently for fictitious journeys often made abroad. (http://thetim.es/1EtOmhi)
The Guardian
Greek Prime Minister Alexis Tsipras convened an emergency meeting of his political negotiation team on Monday following a stark warning from Athens that default was looming. Tsipras instructed officials to act speedily as his government sought to defuse tensions, saying it would do its best to honour its debts. (http://bit.ly/1EtOFIS)
Sidestepping Britain's demands to renegotiate the Lisbon treaty and Britain's place in the EU, the German chancellor, Angela Merkel, and the French president, Francois Hollande, have sealed an agreement aimed at fashioning a tighter political union among the single-currency countries while operating within the confines of the existing treaty. (http://bit.ly/1EtOM7p)
The Telegraph
Andrew Wilson, the European chief executive of Goldman Sachs Asset Management, has warned the world is sinking under too much debt and an ageing global population means countries' debt piles are in danger of growing out of control. (http://bit.ly/1EtPdhY)
Tom Hayes, a former trader at UBS and Citigroup in Japan, is set to face the first criminal trial from Tuesday onwards in the multi-billion dollar forex-rate rigging scandal. (http://bit.ly/1eqWDO5)
Sky News
Stonegate, one of UK's largest owner of managed pubs, may list itself on the London stock market in 2016 for a valuation of about 1 billion pounds ($1.55 billion). (http://bit.ly/1eqVoP4)
Paul Mason, the retail veteran who chairs New Look, is to step down from his role at the fashion retailer following its 2 billion pound takeover by a South African investment vehicle. (http://bit.ly/1eqVE0n)
The Independent
Spanish olive groves are at risk of being wiped out by a strain of "olive ebola" which has ravaged the crop in Italy. The bacteria Xylella fastidiosa, believed to have originally come from the United States, has torn through southern Italy since it first appeared in late 2013. (http://ind.pn/1eqVWnV)
Major General Qassem Soleimani, general in charge of Iran's paramilitary activities in the Middle East, said the United States and other powers were failing to confront Islamic State, and only Iran was committed to the task, a news agency has reported. (http://ind.pn/1eqW2w2)