Defiant Varoufakis Says He’ll Quit If Greeks Endorse Austerity (Bloomberg)
Yanis Varoufakis said Greece won’t “extend and pretend” that it can pay its debts, vowing to quit as finance minister if voters don’t support him in Sunday’s referendum. With banks shuttered and Greece’s economy hobbled by capital controls, Varoufakis said in a Bloomberg Television interview in Athens that he would “rather cut my arm off” than sign a deal that fails to restructure Greece’s debt. The 54-year-old economics professor said he “will not” continue in his post if Greece endorses austerity in the plebiscite.
Societe Generale CEO Says Europe Can Handle Any Greece Scenario (Bloomberg)
“Whatever the scenario is at the end of the day, the euro zone can handle this scenario,” CEO Frederic Oudea said Thursday in an interview with Bloomberg Television’s Yvonne Man in Hong Kong. “The situation in terms of the structure of the banks, the exposure to Greece and the Greek economy is totally different.”
Wozniak Says Scene in Jobs Trailer Is Fiction, Loves It Anyway (Bloomberg)
In the clip released Wednesday, Wozniak, who is played by Seth Rogen, confronts Jobs and accuses his partner of hogging the credit for their creations, and those of others. That never happened, he said. “I don’t talk that way,” Wozniak said in an e-mailed response to questions. “I would never accuse the graphical interface of being stolen. I never made comments to the effect that I had credit (genius) taken from me.” His quibbles won’t stop Wozniak from seeing the movie. He said he liked the trailer and it presents a more or less accurate impression of Jobs, who died in 2011. Some parts, he said, made him want to cry. Wozniak said he will watch the Universal Pictures movie, which hits theaters on Oct. 9.
On His Way Out, Twitter’s Dick Costolo Tries to Shape His Legacy (Bloomberg)
In the op-ed, Costolo frames himself as the person who helped Twitter evolve from a Silicon Valley toy for discussing trivial life updates about “drinking a glass of wine in Napa Valley” into a global force for political discourse and ideas. As Twitter matured, it “started to represent the democratic ideal of access for all,” Costolo wrote. “It means that a country can hold its government to account and that it’s harder to cover up the true version of events.”
Waldorf bride suing guest who fired gun (NYP)
Anna Goldshmidt, whose June 13 Waldorf Astoria wedding was canceled after a guest was shot in the head, is filing a multimillion dollar lawsuit Thursday against Vladimir Gotlibovsky, whose gun accidentally went off during the cocktail hour...Gotlibovsky, a relative of the bride, has not been charged even though his legal, 9 mm Ruger in his pocket discharged, with the bullet grazing another guest’s head. The newlyweds are suing for the cost of the million-dollar-plus wedding, emotional distress and punitive damages.
Losses across the board for major hedge funds (NYP)
David Einhorn’s Greenlight Capital looks like the No. 1 loser among the bigger funds, down 4.3 percent for the month, pushing it into the red, down 3 percent for 2015...Bill Ackman’s Pershing Square was down 0.5 percent for the month through June 23. Dan Loeb’s Third Point lost 0.8 percent. Richard Perry’s Perry Capital had fallen 1 percent as of June 19.
Boom times for healthcare mergers bring bankers 59 percent rise in fees (Reuters)
A surge in mergers and acquisitions in the healthcare sector has been a windfall for investment bankers, with fees from activity in the sector up 59 percent in the first half of 2015, according to Thomson Reuters data. Goldman Sachs (GS.N) commanded 11.8 percent of all healthcare fees, followed by JP Morgan (JPM.N) with 11.2 percent and Morgan Stanley (MS.N) with 6.9 percent.
Economists Tie Puerto Rico’s Pain to U.S. Wages (WSJ)
Puerto Rico’s long-simmering debt crisis owes much to an economy that has been shedding jobs for years. And blame for that, economists say, stems in part from how the island operates under the same wage rules as the more prosperous 50 states. The commonwealth is subject to the federal minimum wage of $7.25 an hour, even though local income and productivity are significantly lower than in Mississippi, the poorest American state. The minimum wage in Puerto Rico is equal to 77% of per capita income, compared with 28% in the U.S. overall.
Revamped Bubble Wrap Loses Its Pop (WSJ)
Sealed Air Corp., the original seller of Bubble Wrap since 1960, is rolling out a revamped version of its signature product. Dubbed iBubble Wrap, the new packaging is sold in flat plastic sheets that the shipper fills with air using a custom-made pump. The inflated bubbles look much like traditional Bubble Wrap, with one key difference: They don’t burst when pressure is applied.
Univision Files for IPO (WSJ)
The New York-based company filed for an IPO of up to $100 million. That figure, used to calculate registration fees, is likely to change. Univision will trade under ticker symbol “UVN,” though the company hasn't determined if it will list on the New York Stock Exchange or Nasdaq Global Market.
Ohio Courtroom Evacuated Because Of Grenade-Shaped Perfume Bottle (AP)
A suspicious item that prompted a Cincinnati courthouse evacuation turned out to be a perfume bottle shaped like a World War II grenade. Hamilton County Sheriff Jim Neil told reporters that the bottle was shaped like a "pineapple" hand grenade and was in a woman's suitcase. The building was evacuated around 8:30 a.m. Tuesday and then closed for the rest of the day after a suspicious item was noted in a security screening. Sheriff's official Jim Knapp said earlier that something "didn't look right" in the screening. A bomb-sniffing dog was brought over, and authorities evacuated the courthouse based on its response. Neil says that he isn't sure what prompted the dog's response.