Auditor Warns of Risks From Local Debt in China

SHANGHAI — The head of China’s national audit office warned on Monday that the country was facing growing risks because of a sharp rise in local government debt and poor controls over borrowing by investment companies set up by municipalities, provinces and other bodies.

Bank of Canada takes aim at Dodd-Frank on bank failures

WINDSOR, Ontario (Reuters) - The Bank of Canada, frustrated by unilateral U.S. moves which regulate Canadian banks with U.S. subsidiaries, called on Thursday for the two countries to work out a bilateral agreement to clarify responsibilities in winding up failed banks.

Greek debt talks go into weekend as default deadline looms

BRUSSELS (AP) — The bitter standoff between Greece and its international creditors was extended into the weekend, just days before Athens has to meet a crucial debt deadline which could decide whether it goes bankrupt and gets kicked out of the euro currency club.

Cameron to hint at assault on tax credits in welfare speech

David Cameron is to deliver his strongest hint yet that he intends to launch an assault on tax credits as he pledges to end the “merry-go-round” of welfare payments that means low wages are topped up by the state.

China, US set for ‘vigorous’ talks on trade, South China Sea issues

Washington, United States | AFP – The United States is vowing not to “paper over” differences with China at key talks this week weighed down by thorny issues of trade, cyber spying and tensions in the South China Sea.

BOJ keeps upbeat view of economy, maintains asset purchases

TOKYO, June 19 (Reuters) - The Bank of Japan kept monetary policy steady and maintained its upbeat assessment of the economy on Friday, signalling its conviction that inflation will hit its 2 percent target without additional monetary stimulus.

Greece Buys Time From ECB as Tsipras Says Country Will Prevail

Greece secured a few more days of financial breathing space from the European Central Bank, as Prime Minister Alexis Tsipras said on a visit to Russia that his country can survive its current crisis.