The Commodity Futures Trading Commission last week told brokers that facilitate derivatives trading among large banks that they should stop using Libor, or the London interbank offered rate, as a reference rate by July 26. The Tuesday announcement could accelerate the push to phase out the troubled interest-rate benchmark, which underpins trillions of dollars worth of financial contracts. Authorities decided several years ago, after a widespread Libor-rigging scandal, that it should disappear by the end of 2021.

Israel Gets New Government to End Netanyahu's 12-Year Rule

TEL AVIV-A new Israeli coalition government led by commando-turned-tech entrepreneur Naftali Bennett ended Benjamin Netanyahu's 12-year run in power, but now faces the difficult tasks of reviving an economy battered by the Covid-19 pandemic and preserving a fragile cease-fire with Palestinian militant group Hamas.

Mr. Bennett of the right-wing Yamina party took over as prime minister Sunday after his new, wide-ranging coalition was backed by 60 lawmakers in the 120-member Knesset, ending months of stalemate. Fifty-nine lawmakers voted against his coalition and one abstained.

At G-7 Summit, Boris Johnson Can't Shake Off Brexit

FALMOUTH, England-For British Prime Minister Boris Johnson, the Group of Seven summit that he hosted over the weekend was a major opportunity to showcase the U.K.'s ambitions on the global stage, putting its years inside the European Union decisively behind it.

But he couldn't entirely make that happen. Wrangling over Brexit bled into the meeting, coloring what appeared to be a broadly successful summit.

Biden and Macron Share Affection and Worldview at G-7 Summit

President Biden and French President Emmanuel Macron threw their arms around each other as they walked on the beach. Later the two men shared a tête-à-tête as aides looked on. At one point Mr. Biden asked Mr. Macron to answer a reporter's question for him.

At the summit of the Group of Seven leaders in Cornwall this weekend, the two presidents embraced each other, sometimes literally, as allies on a host of issues-from multilateralism to fighting climate change-after years of volatility between Mr. Macron and former President Donald Trump.

Low Taxes Brought Ireland Prosperity. A Global Tax Deal Now Threatens It.

For years, Ireland has prospered from rock-bottom tax rates that have drawn some of the biggest U.S. companies to set up large operations on its shores.

Now, an effort led by the U.S. to stop tax-avoidance schemes is threatening Dublin, as Washington seeks an international agreement setting a minimum tax rate for big multinational corporations, and reallocating the right to tax some profits to countries where goods and services are sold, rather than where they are made.

Africa Awaits Covid-19 Vaccine Donations as Cases Surge

JOHANNESBURG-In Uganda, hospitals have become so overwhelmed with new coronavirus cases that the sick are dying while waiting for a bed. In Namibia, all nonemergency surgery has been canceled to preserve space for Covid-19 patients and military hospitals have been opened for civilian use. In South Africa's largest city, Johannesburg, intensive-care wards are filling up and hospitals are stockpiling oxygen cylinders as infections surge again.

Across Africa, which has received fewer Covid-19 vaccines than any other continent, countries are confronting a new wave in coronavirus infections without the inoculations that have turned the tide of the pandemic in Europe and North America.

Miners Try to Get Covid-19 Vaccines Into Areas Where Shots Are Scarce

Mining companies are throwing their weight behind vaccination efforts as Covid-19 continues to ravage much of the developing world.

Miners are offering vaccines and bolstering healthcare services to employees and surrounding communities. The effort is focused on poorer nations, where healthcare systems are weak, vaccines are scarce and inoculation campaigns lag far behind those in the West. Anglo American PLC has said it is spending as much as $30 million to support the global rollout of Covid-19 vaccines across its footprint. Other miners, from Glencore PLC to Rio Tinto PLC, have been offering support to local governments during the pandemic, from conducting screening and mobile testing to donating extra beds for hospitals and clinics.

Italy's Illycaffè Sets Its Sights on the U.S. Coffee Market

Andrea Illy, chairman of Illycaffè SpA, and grandson of the founder, wants more Americans to appreciate his family's coffee. In a bid to build U.S. brand awareness, the Italian-based company plans to add about a dozen Illy Caffès and shops this year to its 20 already in service in the U.S.

There are just a few problems-including American taste in coffee. Most consumers in the U.S. favor giant, sweetened coffee drinks, rather than Illy's signature small cups of espresso.

Write to paul.larkins@dowjones.com

Expected Major Events for Monday

05:00/FIN: May CPI

06:00/ROM: Apr Industrial production

06:30/SWI: May Import Price Index

06:30/SWI: May PPI

07:00/SVK: Apr Employment and average monthly wage in selected branches

07:00/SVK: Apr Turnover in selected branches of economy, incl Industry & Construction

07:00/TUR: Apr Balance of Payments

08:00/CZE: 1Q Quarterly Balance of Payments

08:00/CZE: Apr Monthly Balance of Payments

09:00/EU: Apr Industrial Production

09:00/LUX: 1Q GDP

10:00/POR: May CPI

12:00/POL: Apr Balance of Payments

15:59/UKR: Apr Trade

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(END) Dow Jones Newswires

06-14-21 0017ET