Need to know:
Greece has picked Yannis Stournaras to serve as its next finance minister.
The 55-year-old economics professor replaces the country's previous finance minister, who hadn't yet been sworn in but has already left the position due to health problems.
Stournaras was among those who helped negotiate Greece's entry into the euro zone, The Wall Street Journal noted.
Want to know:
Sheryl Sandberg has broken the Facebook ceiling.
The Facebook chief operating officer on Monday became the first woman to be appointed to company’s board.
Sandberg once worked for Larry Summers at the US Treasury, then worked for Google and now feels okay admitting that she leaves work at 5:30 every day to have dinner with her kids.
Heard at an investment conference in Chicago this week: Moody’s is always a day late and a euro short.
Happened in Spain Monday: Moody’s cut the ratings on 28 Spanish banks after Spain officially asked the EU for the for the $125 billion bailout it’s worked out.
Dull but important:
The UK's May budget deficit came in larger than expected casting doubt on whether Britain's leaders will be able to meet deficit targets despite an economy mired in recession.
The UK's budget deficit came in at $28 billion, Bloomberg reported.
Strange but true:
Microsoft is betting the Facebook for the business world is named Yammer.
Microsoft bought the social networking company for $1.2 billion. Yammer allows entities to create private social networks, which sound a lot like intranets.