Morning business round-up: Eurozone focus on Greek debt

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What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Eurozone finance ministers are to meet later, with the Greek debt crisis likely to dominate proceedings.

On the agenda will be what form Greek debt restructuring should take as part of a second bailout package for Athens.

It comes after negotiators for private creditors left Greece without a deal to write off some of the country's debts.

The Institute of International Finance, which represents the creditors, said a technical team would remain to work further on the details.

Blackberry-maker Research In Motion (RIM) has said its co-chief executives Mike Lazaridis and Jim Balsillie have stepped down in a shake-up.

Mr Lazaridis, who founded RIM in 1984, will become vice chairman. Mr Balsillie will continue to sit on the board but not have any operational role.

Chief operating officer Thorsten Heins will replace them on Monday.

Investors have called for a strategy change as the company struggles to compete with Apple and Google.

Public trust in government has suffered a severe breakdown across the world, according to the Edelman Trust Barometer.

Governments have been blamed for the financial and political chaos of 2011.

In 17 of 25 countries surveyed governments are now trusted to do what is right by less than half those questioned.

The founder of file-sharing website Megaupload has appeared in a New Zealand court seeking bail.

German national Kim Dotcom - also known as Kim Schmitz - was arrested with three others in Auckland on Friday in a raid requested by the US Federal Bureau of Investigation.

He has been accused of internet piracy and money laundering.

Oil explorer Cairn Energy has sold a 30% stake in one of its Greenland exploration licences to Norwegian group Statoil.

It is part of Cairn's plan to bring in a partner in to share the costs of exploration in the Arctic.

The Edinburgh group has so far failed to make a commercial discovery of oil or gas in its Greenland campaign.

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Shares of Japanese camera company Olympus jumped more than 8% after it was allowed to continue trading on the Tokyo Stock Exchange (TSE).

The TSE said on Friday that the company at the centre of a $1.7bn (£1bn) accounting scandal would not be delisted.

However, it imposed a minimal fine of 10m yen ($130,000; £83,600) and put the company's stock "on alert".

The decision means Olympus will still be able to access equity capital.

European Union foreign ministers have formally adopted an oil embargo against Iran over its nuclear programme.

The sanctions involve an immediate ban on all new oil contracts with Iran, while existing contracts will be honoured until 1 July.

Tehran denies that it is trying to develop nuclear weapons and says talks and not sanctions are the only way to resolve the dispute.

The EU currently buys around 20% of Iran's oil exports.

The latest edition of Business Daily looks at the success of Germany's economy in the face of wider eurozone woes.

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