Wednesday newspaper round-up: Greece, Bwin.party, Chinese stocks

European Commission president Jean-Claude Juncker has said “we have a Grexit scenario prepared in detail” as leaders urged Athens to present a new proposal in the next few days, according to The Guardian.

GVC has teamed up with Amaya to offer £900m for Bwin.party in an attempt to see off rival bidder 888 Holdings, The Telegraph reports.

The Financial Times says that another 173 Chinese companies halted trading in their shares after markets closed on Tuesday, bringing the total to 940, amid the country’s steepest equity decline in over 20 years.

The boss of British Gas owner Centrica has said that the CMA’s claim that the Big Six energy suppliers are overcharging was “not credible”, writes The Telegraph.

Shop prices fell for the 26th straight month in June, dropping 1.3% due to heavy discounting by food and furniture retailers, writes The Guardian.

The global asset management industry expanded to a record size last year with assets under management rising to $74trn, the Financial Times says.

“Royal Dutch Shell PLC is days away from drilling in the Arctic Ocean—betting it can find enough oil to justify the huge risks that keep almost every other competitor out of those icy waters,” The Wall Street Journal writes.