German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency. Raising the pressure on Greek Prime Minister Alexis Tsipras before a euro zone summit on Tuesday, the European Central Bank (ECB) decided to keep a tight grip on funding to Greek banks. By voting decisively against tough bailout conditions, as Tsipras had urged them to do, Greeks have strengthened his negotiating hand.
Greek Prime Minister Alexis Tsipras promised German Chancellor Angela Merkel that Greece would bring a proposal for a cash-for-reforms deal to an emergency summit of euro zone leaders on Tuesday, a Greek official said.
Mark Bertolini said Aetna had already prepared for possible divestitures to address overlaps with Humana's business in the largest-ever U.S. health insurance deal. The two sides announced the $37 billion transaction on Friday. Aetna has not discussed the deal directly with the U.S. Department of Justice, but has consulted with regulatory experts, Bertolini told cable channel CNBC.
Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of losses. Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could bring more supply to the market if sanctions on Tehran are eased.
(Reuters) - Teva Pharmaceutical Industries Ltd is preparing to raise its bid for rival drugmaker Mylan NV by as much as $2 billion, to $43 billion, Bloomberg reported on Monday, citing people familiar with the matter. The improved proposal could be announced as soon as this week, Bloomberg said. Teva may offer $86 to $88 per share for Mylan, up from the $82 per share it bid in April, Bloomberg reported.