The rift widens between Greece and its creditors, "Jurassic World" makes (pre)history and tickets for game six of the Stanley Cup finals are only getting hotter. Read about these and more of the day's top business news stories.
Dino-Might! “Jurassic World” Stomps to New Record
“Jurassic World” made history in its opening weekend. The latest installment in the 22 year-old franchise stomped all competition with its opening weekend haul of $204.6 million; the biggest of the year so far and the second-best ever behind 2012’s “The Avengers.” Overseas, it took in $307.2 million, making this the first time a film has crossed the $500 million mark internationally in its debut. The first film in the franchise, “Jurassic Park,” was the first film to open with more than $50 million. “Spy” came in a distant second with $16 million, while “San Andreas” rocked the house with $11 million. Rounding out the top five were the horror film “Insidious: Chapter 3” with $7.3 million and “Pitch Perfect 2” with $6 million.
CVS to Buy Target's Pharmacy, Clinic Businesses
CVS will acquire more than 1,660 U.S. Target pharmacy and clinic businesses across 47 states for about $1.9 billion, Reuters reports. They will be operated through a store-within-a-store format, the companies announced in a statement.
Weekend Talks Widen Rift Between EU and Greece
International creditors and Greece remain at odds after fruitless weekend talks to find common ground, the European Commission said Sunday. A deal needs to be closed within two weeks to avoid a possible Greek default. “There remains a significant gap between the plans of the Greek authorities and the demands of the international creditors,” an EU executive told the Associated Press. A meeting next Thursday in Luxembourg attended by finance ministers from the 19 nations using the euro currency has been billed as decisive to see if a bailout deal for Greece can be found. Greece's 240 billion-euro ($270 billion) bailout expires June 30, at which point the country will lose access to the rescue loans it desperately needs to repay debts and avoid a default that could force it out of the euro.
General Motors Cutting Sonic and Verano Production
General Motors is cutting production of Chevrolet Sonics and Buick Veranos at its Orion Township assembly plant in Michigan and gradually will lay off about 100 workers. From July through the end of the year, the Associated Press reports. Sales of the Sonic, which had been previous imported from South Korea, are down 28.5 percent from the first five months of 2014, USA TODAY reports. Verano sales have dropped 15.6 percent in the same period. GM invested $545 million to retool the plant so it could build the two Chevy models., which began production in 2011.
China “Checkbook Diplomacy to Aid EU Infrastructure Fund
A Reuters exclusive reports that China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a June 29 summit in Brussels, according to a draft communiqué seen by the news organization. While the exact amount is still to be decided, the pledge will mark the latest step in China's efforts to shape global economic governance at the expense of the United States, and follows major EU governments' decision to join the Chinese-led Asian Infrastructure Investment Bank (AIIB) in defiance of Washington, Reuters states. It is expected to come with a quid pro quo request for return investment in China's westward “One Belt, One Road” infrastructure drive constructing major energy and communications links across Central, West and South Asia to as far as Greece.
Boeing and Airbus Eye $23 Billion Order at Paris Air Show
Boeing Co. and Airbus Group SE, the world’s largest planemakers, are poised to win at least 220 orders for competing narrow-body jets at the Paris Air Show, a haul of at least $23 billion, Bloomberg News reports. The Max and neo are the latest, upgraded versions of each plane. Press conferences to unveil their orders are scheduled to begin on Monday, when the Paris event formally opens. The deals would provide a sales boost in a year in which manufacturers are focused on efficiency gains rather than the new-model debuts that typically drive big orders. Single-aisle models carry about 75 percent of passengers.
Stanley Cup Ticket Prices Jump 48 Percent
Ticket prices are heating up to see the Chicago Blackhawks possibly capture their first Stanley Cup title on home ice since 1938. As of Sunday, the average sale price for tickets to Game 6 of the NHL finals was $1,426, according to SeatGeek, a site that aggregates available tickets on resale websites, CNN reports. They are expected to climb higher on Monday. Chicago leads the Tampa Bay Lightning in the best of seven series, 3 games to 2. Even standing room only tickets have surpassed the $1,000 barrier. Face value tickets cost $140.