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EU's Moscovici 'Convinced' a Greek Deal Will be Struck

The European Union's commissioner for economic affairs said on Tuesday he was "convinced" that Greece and its creditors would strike a deal on Athens' debt.

"I am convinced that we will reach an agreement," Pierre Moscovici told French radio as hopes rose that a solution to the five-month standoff between Athens and its creditors could be found. 

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Euro Drops as Investors Wait for Greek Deal

The euro slipped on Tuesday with investors adjusting positions as they waited for new developments in Greek debt talks.

The common European currency fell to $1.1273 and 139.48 yen in Tokyo from $1.1340 and 139.92 yen in New York late Monday.

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Oil Prices Rise with Focus on Greece, Iran

Oil prices rose on Monday as dealers focused on crunch Greek debt talks and a possible return of Iranian supplies to the market. 

U.S. benchmark West Texas Intermediate for July delivery gained 56 cents to $60.17 a barrel compared with Friday's close.  

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Kuoni Sells Tour Operating Business to German REWE

Swiss travel group Kuoni said Monday it was selling its European tour operating activities to German retailer REWE, but did not disclose the price.

The Zurich-based firm, in the midst of widespread restructuring, said it had agreed to sell its tour operating business, as well as its travel agencies in Switzerland, Britain, Scandinavia, Finland and the Benelux countries to REWE's travel arm DER Touristik.

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ECB again Increases Emergency Liquidity Reserve for Greek Banks

The European Central Bank (ECB) again increased emergency liquidity funds for Greece's banks Monday, according to a Greek bank source who said the ECB may renew the hike "at any time" if necessary.

The new increase of the ECB's Emergency Liquidity Assistance was the third since Wednesday and came as Greek savers continued withdrawing their money in large volumes from the country's banks.

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EU: The Fate of Greece and the Euro 'Will Largely be Decided Today'

The fate of Greece and the euro will "largely be decided" on Monday, the EU's economic affairs commissioner said hours before the eurozone holds an emergency summit on Athens' debt crisis.

"We are approaching an absolutely decisive moment," Pierre Moscovici told French radio, adding that he believed a deal could be reached at the summit for Greece to avoid a default.

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Tens of Thousands March against Austerity in London

Tens of thousands of people joined an anti-austerity march through central London on Saturday, the first major public protest since Prime Minister David Cameron won last month's general election.

Demonstrators, some of whom had traveled from across Britain, carried placards with slogans such as "End Austerity Now" and "No Cuts" as they snaked through the city from the Bank of England to the Houses of Parliament.

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Thousands Gather in Central London to Protest Austerity

Thousands have massed outside of the Bank of England for a march to protest against British government austerity programs and spending cuts.

Saturday's march from the financial district to Parliament Square is intended to be peaceful, but demonstrators are angry at public sector cuts meant to address government deficits, which ballooned after Britain rescued troubled banks during the 2008 financial crisis. Demonstrators argue the public is being punished for a crisis it did not cause.

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Reports: SoftBank Paid $135m to Former Google Exec Arora

Japan's telecom carrier SoftBank paid vice president and ex-Google executive Nikesh Arora a whopping $135 million in the year to March, reports said Saturday.

The amount included a one-time, sign-on bonus for the Indian-born 47-year-old, according to the Nikkei business daily and the Asahi Shimbun.

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Amid Deadlock on Greece, IMF Releases Funds to Cyprus

The International Monetary Fund, deadlocked with Greece over further financial aid, approved a new loan installment for Cyprus on Friday, now the only other eurozone country receiving its bailout support.

As with Greece, the negotiations between Cyprus and the so-called troika -- the IMF, European Commission and European Central Bank -- had bogged down over the economic reforms demanded by the creditors in exchange for the financing.

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