Yahoo Finance’s Akiko Fujita breaks down the top stories around the world.
AKIKO FUJITA: In our worldview today, local fans will be allowed into the Summer Olympic Games in Tokyo. But capacity is going to be dramatically lower. Organizers set its limit at 50% with a maximum of 10,000 spectators per venue. Now there are some exceptions. Sponsors, school groups, and IOC officials won't be included in that count. Japanese media reports the total number is likely to be up to 20,000 people. Four inspectors have already been banned from the games to prevent the spread of COVID-19. The Tokyo games kick off on July 23, but organizers say there is still a chance that fans may be shut out altogether if the host city sees an uptick in COVID cases.
Iran's President-elect says he has no plans to meet with President Biden, even if both sides agree on terms to revive the 2015 nuclear deal. Ebrahim Raisi's first comments on the US comes days after his victory over the weekend. The hardliner accused the US and EU of violating the nuclear deal and called on Biden to lift all sanctions, saying the country's ballistic missiles program was not up for negotiation. Raisi won the election with the lowest voter turnout in the Islamic Republic's history. Just 48% cast ballots with all of Raisi's serious rivals banned from the race. He takes over from current president Hassan Rouhani later this summer.
And Hong Kong's pro-democracy paper is on the verge of shutting down, just days after police arrested senior executives and froze $2.3 million of assets. Board members of publisher Next Digital met on Monday and set a Friday deadline to decide the paper's future. They're now calling on the government to release a portion of those assets so the publisher can pay its employees. The paper's been a leading critic of China's encroachment on Hong Kong. And its closure would mark a significant blow to press freedom in the city. Owner Jimmy Lai is already in prison for his involvement in the pro-democracy protests. Two executives have been denied bail after being charged under Hong Kong's new national security law.