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China stocks turn positive after twin PMI data

Asian shares drifted modestly higher early Wednesday after Greece missed the deadline for a payment to the International Monetary Fund hours as its bailout program expired.
Source: CNBC.com | By: See Kit Tang
China stocks open down about 1.5 pct after Tuesday's surge

SHANGHAI, July 1- China stocks opened down about 1.5 percent on Wednesday following the previous session's surge, but recovered some ground and were off by less than 1 percent by 0133 GMT. On Tuesday, the CSI300 jumped 6.7 percent in volatile trade as a slew of government measures aimed at stemming a two-week-long market slide appeared to win back some investor...
Source: Reuters
WRAPUP 8-Greece defaults on IMF payment despite last-minute overtures to creditors

*Greece misses 1.6 billion euro IMF loan repayment. *Eurogroup head urges Greece to change stance with creditors. *Fitch ratings agency cuts Greece to CC.
Source: Reuters | By: Renee Maltezou and Robert-Jan Bartunek
Phil Mickelson is gambling client in money laundering case: Sources

Golfer Phil Mickelson is the "unnamed gambling client" mentioned in a plea agreement taken by another man charged in a money laundering case, multiple sources confirmed to NBC News on Tuesday.
Source: NBC News
DIARY- Top Economic Events to July 13

LONDON- Bank of England publishes financial stability report, followed by Governor Mark Carney's news conference- 0930 GMT. FRANKFURT- European Central Bank Governing Council meeting. BERLIN- European Central Bank Governing Council member Jens Weidmann and Bundesbank Vice President Claudia Buch to participate in cabinet meeting of the federal...
Source: Reuters
Off the Charts: Vulnerable market?  

Mad Money host Jim Cramer goes off the charts on the S&P 500, after Monday's dip lower.
Source: CNBC.com
U.S. doctors, hospitals reap $6.5 bln from drug and device makers -report

Pfizer Inc, the largest U.S. drugmaker, for example reported more than $234.2 million in research payments and another $53.3 million in general payments. John Diliberti, a pediatric geneticist from Illinois, collected nearly $447,000 from Pfizer in consulting fees last year, the biggest single payment to an individual doctor by the drugmaker.
Source: Reuters | By: Bill Berkrot
UPDATE 1-U.S.-Cuba deal to be unveiled on Wednesday to restore ties

WASHINGTON, June 30- The Obama administration on Wednesday will announce it has reached an agreement with Cuba to reopen embassies and restore diplomatic relations severed more than five decades ago, U.S. officials said on Tuesday. President Barack Obama, in Washington, and Secretary of State John Kerry, in Vienna for Iran nuclear talks, will both address the...
Source: Reuters | By: Matt Spetalnick and Lesley Wroughton
Environmentalists want California to stop offshore fracking

LOS ANGELES- Environmentalists Tuesday called on California Gov. Jerry Brown to halt plans for months of hydraulic fracturing in the waters off Southern California, warning that it could lead to chemical pollution or an oil spill. State regulators this month approved nine permits for operator Thums Long Beach Co. for so-called fracking operations between...
Source: The Associated Press
US, Cuba to announce embassy openings: Report  

Reports say President Obama has reached a deal with Cuba to open an embassy in Havana, with CNBC's Dominic Chu.
Source: CNBC.com