GREECE SEEKS AGREEMENT ON DEAL, SUBMITS DRAFT PLAN
Greece has submitted a proposal to its creditors with the country seeking desperately needed rescue money. Without more rescue loans, Greece could default on its debts this month and potentially drop out of the European Union.
WAL-MART LAUNCHES NEXT PHASE OF WAGE INCREASES
Wal-Mart is boosting starting wages for more than 100,000 U.S. department managers and workers in its deli and in other specialized departments. The retailer is spending $1 billion on wages, improved training and schedules better tailored to employee needs.
GLOBAL STOCKS DECLINE
World stocks slipped as consumer prices rose in Europe for the first time in a year. While the European Union has been waiting for prices to rise out of fear of deflation, investors see the odds increasing that policy makers will ease some of the economic easing that has been used to push growth.
MANY HEALTH INSURERS EYE SIZEABLE 2016 PRICE HIKES
Dozens of health insurers say higher-than-expected care costs and other expenses blindsided them this year, and they’re going to have to hike premiums for individual policies well-beyond 10 percent for 2016. The proposed double-digit hikes would apply to plans sold on the health insurance exchanges created under President Barack Obama’s law, as well as individual coverage sold through brokers and agents.
DATA WATCH: FACTORY ORDERS
The Commerce Department will report on April’s U.S. factory orders. The manufacturing sector has struggled in recent months, hurt by a stronger dollar that drives up the price of U.S. exports, and cheaper oil that has trimmed demand for pipes and drilling equipment.