Greece and its international lenders reached an 85 billion-euro bailout agreement on Tuesday after talking through the night, officials said, saving the country from financial ruin and raising hopes it can make a major debt repayment next week.

After a 23-hour session that began Monday morning, exhausted Greek officials emerged in a central Athens hotel to announce the two sides had agreed on terms of the three-year agreement barring a couple of minor issues that were being ironed out.

"Finally, we have white smoke," a finance ministry official said. "An agreement has been reached."

Finance Minister Euclid Tsakalotos confirmed only "two or three small issues" were pending. Greek shares rose, with the banking index surging 6 percent, while two-year bond yields fell more than 4 percentage points.

The deal reached by creditor institutions still needs political approval from euro zone member countries.

European Commission President Jean-Claude Juncker would hold talks later on Tuesday with German Chancellor Angela Merkel and French President Francois Hollande, commission spokeswoman Annika Breidhardt said in Brussels.

"The institutions and the Greek authorities achieved an agreement in principle on a technical basis. Now as a next step, a political assessment will be made."

An agreement would close a painful chapter of aid talks for Greece, which fought against austerity terms demanded by creditors for much of the year before relenting under the threat of being bounced out of the euro zone.

After a deal in principle last month on keeping Greece in the euro, the latest round of talks began in Athens three weeks ago to craft an agreement covering details of reform measures, the timeline for their implementation and the amount of aid needed.

A Greek Finance Ministry official said the pact would be worth up to 85 billion euros $94 billion) in fresh loans over three years. Greek banks would get 10 billion euros immediately and would be recapitalized by the end of the year. (Reuters).

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Google announced a corporate restructuring on Monday, forming an umbrella company called Alphabet and naming a new CEO to the core business of Google.

Google co-founders Larry Page and Sergey Brin will run Alphabet -- Page as CEO and Brin as president.

The company, which was founded in 1998 and went public in 2004, announced its new operating structure in a blog post on Monday called "G is for Google."

They also said that Sundar Pichai is taking over as CEO of Google. Pichai has worked at Google since 2004, most recently as the senior vice president of product. Pichai has also been the most visible Google executive of late, giving the keynote at Google's annual developers conference earlier this year.

Alphabet will operate as the parent company for a number of smaller companies, including Google, which will continue to focus on Internet products. Android, YouTube, search and ads will remain part of Google Inc.

Other departments spinning off into their own sub-companies including research focused Life Sciences (Google contact lenses), the Google X lab (driverless cars, Google Glass, drone delivery), Calico (increasing longevity), and the company's robotics division. Google Ventures and Google Capital will also become independent Alphabet companies.

The Alphabet companies will retain their current leadership. Nest will be led by Tony Fadell, Sidewalk Labs by Dan Doctoroff, and Calico by Arthur Levinson. YouTube CEO Susan Wojcicki will now report to Pichai.

Brin will continue to head up Google X in addition to his role as president of Alphabet. Eric Schmidt will become Alphabet's executive chairman.

"We are not intending for this to be a big consumer brand with related products -- the whole point is that Alphabet companies should have independence and develop their own brands," said Page in the announcement.

Page said the companies would all retain a great deal of independence and be run by strong CEOs.

The new stand-alone companies will have more freedom to take risks. They can continue to invest in experimental projects like driverless cars without interference from other units at the company, or investors worrying about the company wasting too much time and energy.

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This is a big deal, even in Warren Buffett terms.

Buffett's Berkshire Hathaway said Monday it agreed to spend $37.2 billion for Precision Castparts -- the most it has ever paid for a company.

Precision Castparts (PCP) makes parts for aircraft makers, power companies and other industrial companies. Among its notable customers are General Electric, Boeing and Airbus.

"I've admired [Precision Castparts'] operation for a long time. For good reasons, it is the supplier of choice for the world's aerospace industry, one of the largest sources of American exports," Buffett said in a statement.

Berkshire already held a 3% stake in the company, valued at more than $880 million. The $37 billion price tag includes assumption of Precision Castparts' debt. Berkshire's $235 a share price represents a 21% premium over its Friday closing price.

But shares of Precision had been down nearly 20% for the year, making it attractive to a value investor such as Buffett. Shares of Precision Castparts soared 19% in premarket trading on the news Monday.

Buffett has not been shy about making big acquisitions in recent years.

"Berkshire is now a sprawling conglomerate, constantly trying to sprawl further," Buffett wrote in a February letter to shareholders.

In 2013, it teamed up with hedge fund 3G Capital to acquire H.J. Heinz. This year, Heinz merged with Kraft to form Kraft Heinz. Berkshire's stake in the combined company is worth nearly $26 billion.

The acquisition would add to the list of brands Berkshire already owns and operates, including Fruit of the Loom, Dairy Queen and Geico. Berkshire Hathaway also invests in well-known names like Wells Fargo, Coca-Cola and IBM.

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Apple will most likely debut its new generation of iPhones on Wednesday, September 9.

The new phone is expected to feature enhancements including the force touch display, a better camera and a faster processor.

Apple may also unveil a new version of the iPad -- a 12.9-inch "Pro" model, according to a report by John Paczkowski of BuzzFeed.

A company spokesman declined to comment.

Apple unveiled the iPhone 6 and iPhone 6 Plus a year ago on the same date, and for the past three years, Apple has made phone announcements in early to mid-September.

Analysts will be watching to see if the new models will help reboot Apple's biggest revenue driver.

The company recently reported that iPhone sales have been lower than expected. It also released a less bullish outlook on future sales than what analysts had been predicting.

One big concern about the phone's continued success is Apple (AAPL, Tech30)'s position in China, where it's been losing ground. The country has become an increasingly important market for Apple over the past few years -- accounting for more than 25% of the company's total sales in its most recent quarter.

Tech research firm Canalys reported earlier this week that Apple, which had the smartphone market share lead in China during the first quarter, slipped to third in the second quarter.

It's now trailing Chinese tech companies Xiaomi and Huawei.

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America's job gains in July reinforced that the 2015 economy is good but not great.

The U.S. economy added 215,000 jobs in July. Anything above 200,000 is considered to be good.

The unemployment rate stayed the same at 5.3%, which is its lowest point since April 2008. That's considered near full employment.

Wage growth -- the missing piece to America's economic progress -- remained sluggish in July. Average hourly earnings only rose 2.1% compared to the prior year. Wage growth is the reason many Americans haven't felt the benefits of the economy's recovery. The Federal Reserve wants to see annual wage growth closer to 3.5%.

The jobs report is extra important now because the Fed is close to raising its key interest rate for the first time in over nine years. A rate hike would be a good sign for the economy's health, and how far it's come since the recession ended.

Economic growth has been okay this year -- solid but nothing to get excited about. Last year, the economy added 240,000 jobs a month on average between January and July. This year that figure is 178,000 -- a sign that job growth in isn't as stellar.

Still, the economy is still making strides in the right direction.  

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As in every first Friday of the month, today is the NFP announcement.

What is it? It checks the change in the number of employed people during the previous month, excluding the farming industry. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? August 7th at 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

Don't miss the chance to maximize your results, talk to one of our representatives and start trading now.

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Tomorrow (Friday) the Non-Farm Payrolls will be announced. Here is what you need to know:

Non-Farm Payrolls (NFP) Employment Change - is a vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. Change in the number of employed people during the previous month, excluding the farming industry.

The Announcement is set to make big impact on trading markets, especially on USD/EURO in FOREX market, and Gold and Silver in the Commodities market. Be prepared to invest early in order to get the best results on your trades. Make sure to speak with one of our representatives to get the help you need.

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On Wall Street, there's skittishness about the Happiest Place on Earth.

Disney shares fell nearly 9% when the market opened on Wednesday morning amid deep concerns about the company's most profitable enterprise, ESPN.

Before the drop, Disney had been the best performer in the Dow this year. And the stock is still up 20% in 2015.

But when the company posted mixed second quarter results on Tuesday, the focus was on ESPN, which is being pinched by changes in consumer habits.

Disney CEO Bob Iger confirmed that there have been "some subscriber losses" at ESPN because some households have opted for smaller cable packages that don't include the pricey cable channel.

But he said that Nielsen's estimate of the decline -- 3.2 million subscribers in a little more than 12 months -- was overstated. The flagship channel has more than 90 million subscribers overall.

On a conference call with investors on Tuesday, Iger forcefully expressed confidence in ESPN's future, and he reiterated that view in interviews on Wednesday morning.

On CNBC, he said "we are very bullish" about the cable business.

But investors appear spooked about the possible impact from "cord-cutting" (a term for households dropping cable TV altogether) and "cord-shaving" (households choosing smaller bundles of cable).

ESPN continues to make huge amounts of money through its $6-a-month subscriber fee, but Disney said Tuesday that its year-over-year profits won't be quite as high as it had forecast earlier.

The expectation was for high-single-digit operating profit growth from Disney's cable channels (led by ESPN) and now the forecast is for mid-single-digit growth.

At 10:30 a.m. Wednesday, Disney (DIS) shares were down about 7%. Analysts at Jefferies and BMO Capital downgraded Disney stock.

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BlackBerry has updated the "Passport," their oddball, square smartphone.

Announced Tuesday, the BlackBerry (BBRY, Tech30) Passport Silver Edition is an upgraded version of the BlackBerry Passport, released in late 2014. 

The Silver Edition has a 4.5" square screen, 13 MP camera and the latest BlackBerry operating system -- the same as the original Passport. But a closer look tells you why this BlackBerry isn't going to make you yawn and move on.

The Waterloo, Ontario-based firm has been listening to its customers and implementing subtle but necessary changes.

"We strive to deliver products that combine cutting-edge technology with purposeful, globally recognized design, and the BlackBerry Passport Silver Edition is the latest manifestation of this vision," Scott Wenger, Global Head of Design at BlackBerry, said in the press release.

BlackBerry claims that the design improvements make communication easier.

"It brings together BlackBerry's latest OS platform, enhanced productivity features, and a refined industrial design based on customer and user feedback to deliver an unmatched experience for professionals who value precision and focus," Wenger said.

A new stainless steel body adds strength and durability. A textured back and rounded bottom edges that don't jab you when you type will go a long way with BlackBerry fans.

And if you feel as strongly about a physical keyboard as Kim Kardashian does, you're still in luck. The physical tap-tap-tap is here to stay. The trackpad capability across the improved keyboard is ideal for those who resent touchscreens.

Makers of this business-phone have made smart changes. With every enhancement, BlackBerry hit two birds with one stone: aesthetics and functionality.

Don’t write off BlackBerry yet, this new smartphone could help them compete with the big players in the market.

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Instagram has switched on its advertising API (application programming interface). It's a major move for the Facebook-owned photo-sharing app that will almost immediately help transform it into a major mobile advertising business to rival Google and Twitter.

The third-party partners now plugging their software into the API made a coordinated announcement about their involvement on Tuesday morning.

By opening up an API to partners, marketers can now — for the first time — start buying Instagram ads and planning their Instagram marketing in a more automated fashion, alongside their other digital ad buys on Facebook or Twitter.

Before, buying Instagram ads was an exceptional case in the media plan that required contacting an Instagram sales representative directly. That meant Instagram advertising was mostly limited to those willing to make big investments in both budget and time. Starting soon all advertisers can plan Instagram campaigns alongside their other digital ads and cross-promote, schedule, and monitor their Instagram marketing activity — including photos that aren't paid-for ads — across other social networks, all in a self-serve fashion, using third-party platforms.

The Instagram Ads API is the latest in a series of moves the platform has made to start opening up the money jets. Back in June, alongside announcing the API test, Instagram announced that all of Facebook's ad-targeting tools will be opened up to Instagram advertisers. In the same month it also launched "Shop Now" buttons and other messages for advertisers to link outside the app. And earlier this year Instagram introduced "carousel ads," allowing marketers to fit more images into one single ad.

Analysts and researchers are extremely bullish about the potential for Instagram to become a major advertising business. EMarketer predicts Instagram is on track to generate $595 million in advertising revenue this year, and by 2017 it will be on track to surpass Google and Twitter in terms of US mobile display ad revenues.

In a research note published last month, analysts at Bank of America Merrill Lynch predicted Instagram's ad revenues could reach near $1 billion in 2017, rising to as much as $3.86 billion by 2020.

An Instagram representative said: "The Instagram Ads API will help us make ads more relevant to the community, serve more diverse business objectives, and make buying on the platform easier for advertisers. We started working with a group of Facebook Marketing Partners a few weeks ago and they've brought great experience and technological savvy onto the platform. We'll continue to build upon the Instagram Ads API in the coming weeks and months."

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