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Greece Draws up Reforms as Emergency Debt Meeting Looms

Greece's radical new government on Tuesday was fine-turning details of a controversial reform deal it hopes to seal with skeptical EU creditors at critical talks this week in order to liberate the country from a "toxic" bailout.

At talks kicking off with an emergency meeting of eurozone finance ministers Wednesday, Greece will plead its case for stop-gap financing, with a view to clinching an austerity-free reform deal to run from September 1.

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Russian Business Woos Japan Despite Sanctions

A Russian business lobby group made a push Tuesday for Japanese investment as its economy struggles under Western sanctions linked to its role in the Ukraine crisis.

Even as the United States and Europe delayed another round of measures while they push a peace plan, Moscow is looking for cash to replace money that has fled, hoping to tempt resource-poor Japan with oil and gas.

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HSBC 'Tax Dodge' Revelations are Just Tip of Iceberg, Says Leaker

The former HSBC employee who leaked sensational secret documents alleging the bank helped wealthy customers dodge millions of dollars in taxes warned Tuesday that the revelations are just the "tip of the iceberg".

The files created global shockwaves on Monday, spotlighting the financial dealings of the world's ultra-rich and prompting British lawmakers to launch an inquiry into the London-based bank.

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Pakistan, India Fail to Resume Kashmir Trade

Pakistani and Indian officials Monday failed to reach agreement on the resumption of trade across their de facto border in the disputed territory of Kashmir, Pakistani officials said.

Trade was suspended after Indian authorities Friday detained a Pakistani truck driver accused of drug trafficking.

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Belgium Considers Int'l Arrest Warrants for HSBC

A Belgian judge is considering issuing international arrest warrants for the directors of the Swiss division of HSBC, an official said Monday, as the bank faced a row over revelations that it helped wealthy clients dodge tax.

The threat came as HSBC faced controversy over a cache of "SwissLeaks" documents published at the weekend that claim the bank handled secret accounts for drug lords, tax evaders and celebrities.

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Millions Feared Missing in Alleged Bitcoin Scam

Investors in a Hong Kong-based Bitcoin trading company fear they have fallen victim to a scam after it closed down, a lawmaker said Monday, adding losses could total HK$3 billion ($387 million).

Leung Yiu-chung said his office recently received reports from dozens of investors in Hong Kong who paid a total of HK$40 million ($5.16 million) into the scheme run online by MyCoin, but the total loss may be vastly more.

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Greece Warns Euro could Collapse Like House of Cards

A Greek exit from the euro would see the euro collapse like a house of cards, Finance Minister Yanis Varoufakis warned in comments that triggered a spat with Italy.

"Greece's exit from the euro is not something that is part of our plans, simply because we believe it is like building a house of cards. If you take out the Greek card, the others will collapse," Varoufakis said in an interview with Italian public broadcaster RAI that was aired on Sunday.

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Alibaba Takes $590m Stake in China Smartphone Maker

China's Alibaba has agreed to pay $590 million for a minority stake in domestic smartphone maker Meizu, a joint statement said Monday, as the e-commerce giant seeks to expand its mobile offerings.

Last year, Meizu used an operating system developed by Alibaba's cloud computing unit YunOS on its flagship smartphone. 

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WSJ: JP Morgan Probed over Hiring of China Minister's Son

Investment bank JP Morgan is being investigated by U.S. authorities for hiring the son of China's commerce minister despite him being one of the worst candidates its recruiters had seen, the Wall Street Journal reported.

Gao Jue, son of minister Gao Hucheng, was hired by JP Morgan and kept on during major job cuts despite an extremely poor performance, and after he inadvertently sent a sexually explicit e-mail to human resources, the paper said.

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Calls for Probe against HSBC Swiss Unit after Tax Evation Revelations

Politicians in Switzerland called Monday for an investigation into HSBC's Swiss unit, at the centre of a vast scandal over clients' tax evasion, money laundering and financing of terrorist groups.

Opening an investigation "would be the least that could be done," former Swiss foreign minister Micheline Calmy-Rey told the RTS public broadcaster.

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