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UPDATE 1-EU's Juncker challenges Greeks, Germans to avoid Grexit

STRASBOURG, July 7- Jean-Claude Juncker, the EU's chief executive, chided the Greek government and his own German critics on Tuesday and pledged to counter those he said were secretly trying to force Greece out of the euro zone. In a speech to the European Parliament in Strasbourg ahead of a crunch euro summit in Brussels later in the day, the European Commission...
Source: Reuters | By: Barbara Lewis
Malaysian authorities freeze six bank accounts linked to PM graft scandal

KUALA LUMPUR, July 7- A task force investigating Malaysia's troubled state investment fund 1 MDB said on Tuesday it had frozen half a dozen bank accounts following a media report that nearly $700 million had been transferred to an account of Prime Minister Najib Razak. The Wall Street Journal reported last week that investigators probing the debt-laden 1 MDB...
Source: Reuters | By: Al-Zaquan Amer Hamzah and Trinna Leong
FACTBOX-Main findings of UK watchdog's energy supplier probe

July 7- Britain's competition watchdog is proposing a cap on energy prices after it found the country's largest energy suppliers overcharged households around 1.2 billion pounds each year between 2009-2013.. Suppliers were acting within the law but consumers were charged too much money, the Competition and Markets Authority said in provisional findings...
Source: Reuters
UPDATE 4-Oil rallies after huge selloff, outlook weak

*China stock markets fall again, Greece fights to stay in euro. *Possible return of Iran oil exports weighs on forward contracts. LONDON, July 7- Oil prices rallied on Tuesday, after one of their biggest selloffs this year, but looked vulnerable to further falls after China's stock market took another tumble and Greece moved closer to leaving the euro zone.
Source: Reuters | By: Christopher Johnson
GLOBAL MARKETS-Europe steadies before Greece summit, China stocks fall again

*Europe shares recover as Greece summit awaited. Failure to reach a deal would increase the likelihood of Greece leaving the single currency. "The rest of Europe is ring fenced from what's going on in Greece.
Source: Reuters
European shares stabilize, with focus on Greek summit

*FTSEurofirst 300 up 0.2 pct, Euro STOXX 50 up 0.3 pct. *Sunday vote makes Greece more likely to leave the euro- banks. France and Germany told Greece on Monday to come up with serious proposals to restart financial aid talks.
Source: Reuters | By: Alistair Smout
European shares stabilise, with focus on Greek summit

*FTSEurofirst 300 up 0.2 pct, Euro STOXX 50 up 0.3 pct. *Sunday vote makes Greece more likely to leave the euro- banks. France and Germany told Greece on Monday to come up with serious proposals to restart financial aid talks.
Source: Reuters | By: Alistair Smout
Saudi Arabia to invest $10B in Russia

Saudi Arabia's sovereign wealth fund is to invest up to $10 billion in Russia over the next five years, in a move signalling a thawing in relations between the two countries. Saudi Arabia's Public Investment Fund, the country's sovereign wealth investment vehicle, agreed on Monday to invest $10 billion over the next five years approximately in the Russia...
Source: CNBC.com | By: Holly Ellyatt
Another Indian firm under fire for shoddy clinical trials work

LONDON/ MUMBAI, July 7- Another Indian clinical research organisation, Quest Life Sciences of Chennai, is in trouble over defective trials work, according to a warning issued by the World Health Organization. The action by the United Nations health agency follows an earlier scandal over drug testing at GVK Biosciences, which resulted in approvals for hundreds...
Source: Reuters | By: Ben Hirschler and Zeba Siddiqui
UPDATE 3-Noble Group hires PwC to review accounting practices after criticism

*Singapore Exchange says welcomes company's decision. SINGAPORE, July 7- Noble Group Ltd, Asia's biggest commodities trader, said it has hired PricewaterhouseCoopers to review the way it values some of its assets- its biggest move yet to boost transparency after an attack on its accounting practices. Allegations by little known Iceberg Research in February...
Source: Reuters | By: Aradhana Aravindan and Anshuman Daga