NEW YORK ( TheStreet) -- Greece hopes to conclude negotiations with creditors for its third bailout by early Tuesday at the latest, a senior official said, quoted by Reuters. Athens is negotiating with European Union institutions and the International Monetary Fund for up to 86 billion euros ($94 billion) in fresh loans, and the bailout must be in place by Aug. 20, when Greece has to make another payment on its debt to the European Central Bank.

  • Chinese economic data released over the weekend pointed to a further slowdown in the economy. Producer prices in July hit their lowest point since late 2009, falling by 5.4% vs. expectations of 5%, while exports plunged by 8.3% in the same month, their biggest fall in four months.
  • Warren Buffett's Berkshire Hathway (BRK.A) is closing in on its biggest deal by negotiating to buy Precision Castparts (PCP) for $30 billion, the Financial Times reports quoting people familiar with the talks.
  • The U.S. consulate in Istanbul was attacked by two people armed with guns in the early hours of Monday morning, while overnight 10 people were injured in a car explosion at a police station. Over the weekend, the U.S. sent six jets and 300 army personnel at a military basis in Turkey to fight Islamic State militants from there.
  • The U.S. House looks set to vote as early as September on allowing U.S. oil exports. Moves to allow sales of crude abroad, unthinkable a short while ago, are accelerating, the Wall Street Journal writes. The Senate looks set to vote on the move next year.