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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Features5 things

The Fed, Greek debt, and tech IPOs — 5 things to watch for this week

By
Tom Huddleston Jr.
Tom Huddleston Jr.
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By
Tom Huddleston Jr.
Tom Huddleston Jr.
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June 14, 2015, 5:01 PM ET
Janet Yellen
Federal Reserve Chair Janet Yellen testifies about the economy before the Joint Economic Committee of Congress on Capitol Hill in Washington, Wednesday, May 7, 2014.(AP Photo/Charles Dharapak)Photograph by Charles Dharapak — AP
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Hello friends and Fortune readers.

This week could bring a clearer picture from the U.S. Federal Reserve regarding its plan to raise interest rates at some point this year. The market could be affected by the tense debt negotiations between Greece and its EU and IMF lender, which continue this week. Meanwhile, a pair of fitness tech companies will make their market debuts and another round of large companies will report their quarterly earnings. And, stay tuned for coverage from Fortune‘s MPW summit in London.

Here’s what you need to know to start your week.

1. Fed meeting

Policymakers at the U.S. Federal Reserve will gather for a two-day meeting, starting on Tuesday, where they will discuss the state of the U.S. economy and interest rate policy. Investors will be all ears on Wednesday, when the Fed releases a statement that could offer further clarity regarding the central bank’s preferred timeline for the impending interest rate hike that is expected sometime this year.

2. Will Greece avoid default?

Leaders from Greece will continue to meet with their European Union and International Monetary Fund lenders this week in Brussels with time running out for a debt-resolving deal to be reached that would avert a Greek default and keep the country from exiting the euro zone. The debt negotiations have been rocky thus far, as IMF officials pulled out of talks last week, citing “major differences” with Greek leaders who refused to make a $336 million debt repayment to IMF when the money was due earlier this month.

3. Fitness tech IPOs

The fitness tracking device maker could raise as much as $478 million when it launches its IPO on Thursday. Fitbit faces stiff competition (and, in some cases, lawsuits) from fitness wearables companies such as Jawbone and Garmin, while the Apple Watch also presents a challenge. A successful market debut for Fitbit, which nearly tripled its revenue last year, could value the company above $3 billion. Meanwhile, fitness industry software-maker Mindbody is also going public this week with an IPO on Friday that could raise up to $107 million.

4. Earnings roundup

On Wednesday, business software giant Oracle (ORCL) is expected to report dips in revenue and profit for the company’s fourth quarter. Oracle is seeing weak tech spending from business clients as the company continues to invest heavily in its shift to a cloud-computing model. Other companies reporting quarterly earnings this week include FedEx (FDX), which will report fourth-quarter results on Wednesday. Thursday brings first-quarter sales figures for Rite Aid (RAD) and grocery chain operator Kroger (KR).
[fortune-brightcove videoid=4293286859001]

5. Most Powerful Women summit

Fortune’s Most Powerful Women International Summit kicks off in London on Monday. The two-day event will feature interviews and panel discussions with some of the most prominent global women leaders in business, including Banco Santander Chair Ana Botin, former Australian Prime Minister Julia Gillard, former U.S. FDIC chair Sheila Bair, and Kleiner Perkins senior partner Juliet de Baubigny. Read coverage of the event at Fortune.com.

—Reuters contributed to this report.

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By Tom Huddleston Jr.
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