U.S. stocks opened lower Monday as Greek talks hit a deadlock over the weekend. French President Francois Hollande on Monday urged the Greek government to quickly return to the negotiating table with its official creditors, a day after talks between the two sides collapsed. The breakdown in negotiations over the weekend has raised fears of a default on Greece’s debt and a possible exit from the currency bloc. The two sides have failed to bridge major differences on a set of reforms Greece has to undertake in exchange for desperately needed financial aid, with the creditors pushing for more pension cuts and labor reforms. Chinese e-commerce giant Alibaba (BABA) is building a streaming video service modeled on Netflix (NFLX), with launch expected in about two months. The subscription video product, called TMall Box Office, will expand Alibaba’s foray into digital entertainment. Qatar Airways announced the deal at the Paris Air Show, saying it added 10 of Boeing’s (BA) 777-8X passenger jets and four 777 Freighters to the planes it already has on order. The deal would be valued at $4.8 billion at list prices.
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