U.S. markets look set to open marginally higher — even though the European Central Bank warned that Greek banks might not have the liquidity to open their doors on Monday. Maybe Greece is more Detroit than Lehman. The Nasdaq just set a record. Meanwhile, stocks in China posted their worst weak in seven years even as optimism about the economy ticked up.
The nation mourns the deaths of nine people in a historic black church. Anger and disbelief have gripped South Carolina as the perpetrator, Dylann Storm Roof, was arrested for the massacre. New York Times (paywall)
Flash crasher claims he was a scapegoat. Navinder Singh Sarao, the 36-year old day trader accused of causing the flash crash, says his activities were nothing new and is claiming that he is a victim of scapegoating as he fights American regulators’ attempts to extradite him to the U.S. Financial Times (paywall)
Pope Francis rails on government and business leaders for exacerbating climate change. In an almost 200-page critique, Pope Francis slams government officials and multinational companies for plundering the Earth in search of profits. “The idea of infinite or unlimited growth, which proves so attractive to economists, financiers and experts in technology… is based on the lie that there is an infinite supply of the earth’s goods, and this leads to the planet being squeezed dry beyond every limit.” Financial Times (paywall)
The Bank of Japan streamlines framework, pulls back veil a touch. The central bank will cut monetary policy meetings from 14 to 8, allow policy board members to publish their own individual forecasts, and release Outlook Reports quarterly instead of semi-annually. They are also killing their Monthly Report of Recent Economic and Financial Developments, and adopting a new type of forecasting chart with symbols representing each of the nine policy members. Bank of Japan
Photo by Henry de Saussure Copeland via Flickr.