These low interest rates have in turn fuelled economic booms, encouraging excessive risk taking. Booms have then turned to busts, which policymakers have responded to with even lower rates. Claudio Borio, head of the organisation’s monetary and economic department, said: “Persistent exceptionally low rates reflect the central banks’ and market participants’ response to the unusually weak post-crisis recovery as they fumble in the dark in search of new certainties.”

“Rather than just reflecting the current weakness, they may in part have contributed to it by fuelling costly financial booms and busts and delaying adjustment. The result is too much debt, too little growth and too low interest rates. In short, low rates beget lower rates."

The BIS warned that interest rates have now been so low for so long that central banks are unequipped to fight the next crises. “In some jurisdictions, monetary policy is already testing its outer limits, to the point of stretching the boundaries of the unthinkable,” the BIS said. Policymakers in the eurozone, Denmark, Sweden and Switzerland have taken their interest rates below zero in an attempt to support their economies, contributing to a decline in bond yields.

Their imposition capped a dramatic weekend for Greece that has pushed the country towards a likely default on 1.6 billion euros ($1.77 billion) of International Monetary Fund loans on Tuesday and closer to an exit from the euro currency bloc. French President Francois Hollande appealed to Tsipras to return to the negotiating table and German Chancellor Angela Merkel said she was willing to talk to the 40-year-old Greek leader if he wanted.

"There are a few hours before the negotiation is closed for good," Hollande said after a cabinet meeting on Greece. But with Greece's bailout programme expiring in less than 48 hours, hopes of a last-minute breakthrough were fading fast. Greeks - used to lengthy talks with creditors before a eleventh-hour deal materializes - were left stunned.

European bank shares fell sharply on Monday. Top banks in Spain, France and Germany were down more than 6 percent as the risk of a spillover to banks in other peripheral euro zone countries spooked investors. The Greek government will keep banks shut at least until after July 5, the date of the referendum, and withdrawals from automated teller machines were limited to 60 euros a day when they reopened at midday. The stock exchange will also stay shut.

Greece risks default and moving closer to a possible exit from the eurozone. Greeks have been queuing to withdraw money from cash machines over the weekend. Mr Tsipras did not give details of how long banks would stay shut, or exactly what controls on capital would be imposed.

The Greek prime minister said he had sent a new request for an extension to the bailout. "I am awaiting their immediate response to a fundamental request of democracy," he said. The announcement comes after a particularly turbulent few days for Greece.

The swift pace of hiring follows a bumper month in May – when 280,000 jobs were created – and take the unemployment rate 0.1 percentage point lower to 5.4 percent in June. Analysts at UBS said: “Although there is some month-to-month volatility in the unemployment rate, the trend is firmly downward.” The Swiss bank expects unemployment to drop to 5 percent in the final quarter of the year, and to 4.6 percent a year later.

The jobs data will pave the way for the Federal Reserve to increase its rates from the emergency levels of the past six years. Central bank watchers now believe that a rate rise could come in September.

But after announcing his intention to tighten connections between the two cities, the mayor came under a firestorm of criticism from local left-wing parties and pro-Palestinian activists, Channel 2 reported Thursday. Coincidentally, the decision came the same day as an announcement by British low-cost airline EasyJet that it would begin operating a new Tel Aviv-Amsterdam route.

The airline said one-way fares would start at less than 50 euros ($55). The Netherlands’ ambassador to Israel Caspar Veldkamp hailed the new flight route, telling financial newspaper Globes that the connection “would provide yet another boost to our strong ties.”

Every parent should have the freedom to decide how they feed their baby, and nobody should be judged for the path they take.

Right? Except, that would discount the persuasive power of marketing. The global formula industry is worth around $50 billion (£31 billion). Money spent on formula and related products brings vast profit in to supermarkets and other retailers.

On the other hand there’s very little money to be made out of breastfeeding. To some, a successfully breastfeeding mum represents lost income. Ouch!

Like all parenting choices, perceived judgement is keenly felt, and the final refrain of debates is often “Everyone should be free to make their own choices.” But this can distract from a much-needed deeper analysis. We need to be asking: if a billion pound industry has a vested interest in our choosing bottle over breast, are our choices truly free?

“These six justices have violated their own long-established rules of interpretation for applying statutes to instead advance their own political objectives or burnish their public persona,” Klayman said in reaction to the decision. “Such personal goals corrode the role of the court. The justices abandoned the rule of law and have become merely a political focus group.”

As Justice Antonin Scalia makes clear in his dissent, the six justices actually rewrote the Affordable Care Act instead of interpreting it. Scalia wrote that the legacy of the Roberts Court will be “forever the discouraging truth that the Supreme Court of the United States favors some laws over others, and is prepared to do whatever it takes to uphold and assist its favorites.”

Scalia wrote that the court engaged in “somersaults of statutory interpretation” to save Obamacare, rather than applying neutral and consistent rules to all laws equally.

“Despite the Supreme Court’s rulings, Texans’ fundamental right to religious liberty remains protected. No Texan is required by the Supreme Court’s decision to act contrary to his or her religious beliefs regarding marriage.

“The Texas Constitution guarantees that no human authority ought, in any case whatsoever, to control or interfere with the rights of conscience in matters of religion. The First Amendment of the US Constitution guarantees the free exercise of religion; and the Texas Religious Freedom Restoration Act, combined with the newly enacted Pastor Protection Act, provide robust legal protections to Texans whose faith commands them to adhere to the traditional understanding of marriage.

“As I have done in the past, I will continue to defend the religious liberties of all Texans — including those whose conscience dictates that marriage is only the union of one man and one woman. Later today, I will be issuing a directive to state agencies instructing them to prioritize the protection of Texans’ religious liberties.”

Worried the country could default and even leave the euro zone, some Greeks queued up at cash machines to withdraw funds, though there were no signs of panic in Athens. Many sounded defiant, saying Tsipras had offered them an important chance to determine their own fate. Euro zone finance ministers met in Brussels for what had been intended as a final negotiation for a deal to rescue Greece from defaulting on a big debt payment on Tuesday, when an international bailout expires.

But after they were blindsided by Tsipras's surprise middle-of-the-night announcement that he rejected their offer and would put it to voters only after Tuesday's deadline, one after another said all that remained to discuss was "Plan B" - how to limit the damage of default. "We have no basis for further negotiations," German Finance Minister Wolfgang Schaeuble said. "Clearly we can never rule out surprises with Greece, so there can always be hope. But none of my colleagues with whom I've already spoken see any possibilities for what we can now do."

After months of wrangling with the lenders, Tsipras announced that he would put the terms of the creditors' "humiliating" offer to a popular vote on July 5. Interior Minister Nikos Voutsis called for calm, telling lawmakers: "The game is not over for the country, its people, this parliament." Without a clear agreement on bailout cash, Athens is set to default on 1.6 billion euros of debt to the International Monetary Fund on Tuesday.

In it, he says that Haditha - west of Ramadi - will be the next town in Iraq to fall under Isil’s sway, and incites more attacks by its followers worldwide. The attacks should be on “kuffars” (infidels), “Crusaders, Shias and Apostates”, he says. "Be keen to conquer in this holy month and to become exposed to martydom,” he says.

The group is under pressure in north-east Syria, where Kurdish forces have pushed it back to around 30 miles north of its de facto capital, Raqqa, but has expanded elsewhere, including in Ramadi. It has if anything worsened its aggressive media message of untrammelled violence. In a video, it showed a group of alleged “spies” being executed by being lowered in a cage into a pool until they drowned.

Another group is lined up kneeling in the desert with explosives around their necks, which are then detonated, decapitating them. A third is placed in a car, which is blown up with a rocket-propelled grenade. The 16 men in total were all said to have been caught spying on Isil in Nineveh province, around Mosul in northern Iraq.

A series of terror attacks have hit Europe and the Middle East today. The first was in Paris, the second in Kuwait, and the third in Tunisia. At least 27 people have been killed in the Tunisia attack, which is still unfolding. Thirteen or more are dead in the bombing of a Kuwaiti mosque — an attack claimed by Islamic State. A man was beheaded in a late morning attack near Grenoble, which President Francois Hollande has confirmed was an act of terrorism.

16:10 - 27 killed in Tunisia mostly German, British tourists — local radio

Tunisia’s Interior Ministry spokesman Mohammed Ali Aroui tells the state news agency that the victims killed in the terror attacks in Sousse were mostly tourists but does not give any nationalities. Local radio says the dead are mostly German and British.

16:10 - French gas factory says all its employees are accounted for after an attack on a factory in south-western France late Friday morning. It has not confirmed whether its staff were among the two people reported injured and one dead. A car rammed the gate and plowed into gas canisters, touching off an explosion, at the factory near Lyon on Friday morning. A decapitated body and flags with Arabic writing were found at the scene.

16:16 - In Kuwait, the suicide bomber attacked a Shiite mosque during the main weekly prayers, killing and wounding dozens. The attack has been claimed by the Islamic State. The blast hit Al-Imam al-Sadeq mosque in Kuwait City, security officials and witnesses said. Medics said at least 13 people were killed in the blast.

Update – Death toll from IS attack on Kuwait mosque rises to 16

The death toll from a suicide blast claimed by the Islamic State at a Shiite mosque in Kuwait rises to 16 and is expected to go up further, according to the Saudi-owned Al-Arabiya. According to an IS statement posted to social media and cited by the channel, the terror group targeted a “temple of the rejectionists,” and identified the bomber as Abu Suleiman al-Muwahed.

In an interview with PinkNews, the LGBT website, he added that the growth of academies and free schools was allowing individual schools to act as “judge and jury” to decide what they want to teach on such issues. Mr Burnham, who is from a Roman Catholic background, disclosed that he had gone through deep rifts with members of his own family after he become one of the first prominent MPs to publicly support same-sex marriage.

“I have been repeatedly at odds with the Catholic church for all of my time as an MP,” he said. “I have always been going against what they were saying, and that is challenging. That creates a personal challenge – I've been at odds with my own family, and that has been to some personal cost at times in terms of relationships with people.”

Obama has been a public supporter of same-sex marriage since 2012. In an interview with Robin Roberts of Good Morning America that year, he said that he personally felt that gay couples should be allowed to marry. He's since come out with more a forceful stance on the issue, and addressed the issue during his second inaugural speech.

"Our journey is not complete until our gay brothers and sisters are treated like anyone else under the law, for if we are truly created equal, then surely the love we commit to one another must be equal as well," he said, according to the New York Times.

Chief Justice John Roberts wrote the principle dissent, joined by Justice Antonin Scalia and Justice Clarence Thomas. They argued that the court was overstepping its bounds by taking an action better left to the democratic process. “This Court is not a legislature. Whether same-sex marriage is a good idea should be of no concern to us,” Roberts wrote. “In short, our Constitution does not enact any one theory of marriage. The people of a State are free to expand marriage to include same-sex couples, or to retain the historic definition.”

Justices Scalia, Thomas and Samuel Alito wrote additional dissents. Scalia said he wrote “to call attention to this Court’s threat to American democracy.” “Today’s decree says that my Ruler, and the Ruler of 320 million Americans coast-to-coast, is a majority of the nice lawyers on the Supreme Court,” Scalia warned. “The five Justices who compose today’s majority are entirely comfortable concluding that every state violated the Constitution for all of the 135 years between the Fourteenth Amendment’s ratification and Massachusetts’ permitting of same-sex marriage in 2003.”