FINANCIAL NEWS OF THE WORLD ON JULY 1ST, 2015

IN THE NEWS TODAY

U.S. stock futures and European markets were higher this morning on reports the Greek prime minister will accept the bailout conditions with some changes. | Live blog (CNBC) Greece and its creditors were expected to resume talks today, a day after the embattled nation defaulted on a $1.7 billion IMF debt payment and ahead of Sunday's bailout referendum. (CNBC) Greece has reopened some banks to help pensioners who don't have bank cards, as capital controls continued. Meanwhile, the ECB is also considering today emergency funds for Greek banks. (AP) Today's the first day of the third quarter. The S&P 500 closed Q2 with itsfirst quarterly drop in over two years, while the Dow posted back-to-back quarterly losses for the first time since early 2009. (CNBC) In a blockbuster insurance deal, Swiss-based ACE Limited (ACE) has agreed to buy New Jersey-based Chubb (CB) for $28.3 billion in cash and stock. (CNBC) The Puerto Rico Electric Power Authority and its creditors were close to a deal to allow the cash-strapped utility to pay more than $400 million to bondholders. (WSJ) Facebook (FB) is giving advertisers the option to pay for video ads only ifusers view them for at least 10 seconds. (NY Times) Sprint's (S) $50 million "cramming" settlement with the Consumer Financial Protection Bureau has been approved. The mobile carrier had been accused of adding unauthorized charges to customer bills. (Reuters) Sprint said it would end a policy of slowing video speeds for unlimited-data customers, after an outcry over the practice undermined the carrier's attempt to promote a new phone plan. (WSJ) AT&T (T) could see its $48.5 billion deal to acquire DirecTV (DTV) approvedas soon as next week by government regulators. The DOJ has completed its review, but the FCC has not yet. (Reuters) Nike (NKE) chairman and co-founder Phil Knight will step down next year. He's recommended Chief Executive Officer Mark Parker as his replacement as chairman. (Reuters) GOP presidential candidate Jeb Bush has posted more than three decades of tax returns online, revealing earnings of nearly $28 million since leaving the Florida governor's mansion in 2007. (AP) The U.S. and Cuba plan to announce today an agreement to reopen embassies, after the two nations struck a deal in December to thaw diplomatic relations after more than 50-years. (CNBC)