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U.S. markets news

Labor Costs Rise at Slowest Pace in 33 Years
WASHINGTON - Labor costs in the United States recorded their smallest increase in 33 years during the second quarter as workers were paid less in commissions and bonuses.
Wage Growth Weak Despite Tightening Jobs Market  Fox Business
Wage growth slows sharply in second quarter  USA TODAY
Wall St. higher amid wage growth data, earnings
Wall Street rose in early afternoon trading on Friday after an historically weak reading of U.S wage growth lent weight to the view that the U.S.
Big oil companies' profit hits decade low  USA TODAY
Exxon Mobil and Chevron Report Worst Quarterly Results of Current Decade  New York Times
FedEx, TNT Express say combination on track despite EU probe
AMSTERDAM, July 31 Logistics companies FedEx and TNT Express said they were still on track to complete their proposed combination in the first half of 2016, despite the European Commission's announcement of an in-depth competition review of the deal ...
EU opens in-depth inquiry into Fedex's planned takeover of TNT  Economic Times
Brussels launches in-depth probe into FedEx-TNT tie-up  Financial Times
Uber will spend $1 billion to grow presence in India
On-demand transportation company Uber will spend $1 billion over the next nine months in India to expand its presence in one of its biggest global markets, the San Francisco company announced Friday.
Why Uber's $1 bn bet on India is unlikely to be its last; app-based ...  Firstpost
Uber to invest $1bn in India  The Hindu
Puerto Rico Veers Toward First Bond Default: Questions Answered
Puerto Rico Governor Alejandro Garcia Padilla wants to negotiate with investors to reduce $72 billion of debt he says the island can't afford.
Get ready: Puerto Rico is likely to default August 1  CNNMoney
Echoes of 1989 are bad news not just for China's markets but the world
China faces a crucial choice between the competing priorities of political control and economic liberalisation. This summer the first tremors have already been felt.
Emergency measures fail to halt China's stock market nosedive  The Guardian
China stocks look set for biggest monthly loss in six years  The Globe and Mail
US oil and natural gas rig count down 2 to 874
HOUSTON - Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874.
US oil settles down, $1.40, or 2.89%, at $47.12 a barrel  CNBC
Oil rig count continues climb, but pace slows (blog)
UPS bolsters full-truckload business with $1.8 billion deal
United Parcel Service Inc (UPS.N) said it would buy Coyote Logistics from private equity firm Warburg Pincus for $1.8 billion to expand its full-truckload services, the latest deal in a rapidly consolidating logistics industry.
UPS Agrees to Buy Coyote Logistics for $1.8 Billion  Wall Street Journal
UPS to Buy Coyote Logistics for $1.8 Billion  New York Times
Here's why LinkedIn's shares are tanking today
LinkedIn may need to do some better networking with Wall Street. LinkedIn announced Thursday that its sales and earnings in the second quarter had beaten analysts expectations.
LinkedIn Drops 10%: User, Ad Growth Dilemma Not Unlike Twitter, Says Evercore  Barron's (blog)
LinkedIn Q2 Earnings Raises Concerns Over Growth, Ads, Sales LNKD  Investor's Business Daily
Spain's Rajoy loosens purse strings, recovery boosts election-year budget
MADRID Spain's Mariano Rajoy sought to persuade Spaniards on Friday that earlier austerity would be reverted if he won re-election later this year, unveiling a 2016 budget featuring the first spending hikes since he took office.
Spanish Prime Minister Unveils Austerity- Fatigue Budget in Run-Up to Election  Wall Street Journal
Spain to Give Civil Servants First Pay Rise in 5 Years  ABC News