Greece Gets Back to Business, Banks Reopen Monday With Higher Withdrawal Limits

Greek banks reopened Monday after being closed for three weeks, with withdrawal limits shifting to 420 euros a week from 60 euros a day.

Author:: Jane King
Publish date:: Jul 20, 2015 7:22 AM EDT

It's back to business in Greece. Greek banks reopened Monday after being closed for three weeks, with withdrawal limits shifting to 420 euros a week from 60 euros a day. The Greek stock market remains closed. Today, Greece has a $4 billion payment due to the European Central Bank and International Monetary Fund, which it is expected to pay using a bridge loan from lenders. Several reports indicate Lockheed Martin (LMT) has agreed to buy United Technologies (UTX) Sikorsky Unit, adding the largest maker of military helicopters to a lineup that includes warplanes and missiles. Barclays (BCS) is reportedly ready to slash its workforce. The Times of London says the bank's global workforce will fall from 132,000 to below 100,000 by 2017. The firm is reportedly speeding up its cost cutting after firing the CEO last week. TheStreet's Jane King has details from the Nasdaq Marketsite.