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U.S. markets news

Euro's Salvation Lies in Its Political Appeal
Even before the euro was launched, many American economists considered it doomed, a political project erected on a flawed economic foundation.
No more credit talks with Greece till after vote -Dijsselbloem  Reuters
Greece sticks with bailout referendum with fiscal lifeline talks in the balance  Washington Post
New York Times  
DOJ opens probe of airlines for possible collusion
The Department of Justice said Wednesday it's investigating several U.S. airlines for possible collusion, a probe that could have a deep impact on domestic carriers' seat availability and airfares.
US probing whether airlines collude to keep airfares high  Reuters
US Probing Possible Airline Collusion to Keep Fares High  ABC News
US Sues to Block GE Appliance Business Sale to Electrolux
The U.S. government is seeking to stop Electrolux from buying General Electric's appliance division, saying the combined company would dominate sales of ovens and other cooking-related kitchen appliances, especially to customers like home builders, ...
Justice Department Sues to Block GE Appliance Deal  New York Times
DOJ Sues to Block Electrolux Deal for GE's Appliance Business  Wall Street Journal
How the Dow Jones Industrial Average Fared on Wednesday
Stocks closed higher Wednesday as investors became optimistic that a deal could be struck on Greece's debt issues. Hopes were raised after Greece's government appeared to soften its stance toward its creditors.
Wall St. trims gains; energy stocks fall, Greece hopes fade  Reuters
European stocks rise on Greek hopes  Financial Times
Ace and Chubb Face Headwinds of History
Ace has set itself the task of overcoming the ghosts of insurance deals past. The property and casualty insurer, which is based in Zurich, is buying its rival, Chubb, for $28.3 billion in cash and stock.
Insurers Are Catching 'M&A Fever' After ACE Nabs Chubb  Wall Street Journal (blog)
Swiss insurer ACE to acquire Chubb for $28.3 bn  Fox News Latino
CEOs of mortgage giants Fannie and Freddie get big raises
NEW YORK - The CEOs of government-backed mortgage giants Fannie Mae and Freddie Mac are getting large raises, to about $4 million a year, as the government relaxes rules that were imposed on the companies after they suffered big losses and were ...
Fannie, Freddie CEOs Get Pay Raises as White House Objects  Bloomberg
Several Significant Income-Related Underwriting Changes from Fannie  Mortgage News Daily
While Puerto Rico sinks in debt, residents flee in record numbers to the US
Puerto Rico is losing its people. Whole families are leaving. “Se Vende” or “For Sale” signs are everywhere. Jet Blue and American Airlines are breaking records in one-way departure flights to Miami and New York.
Puerto Rico paid $1.9B in debts due today: Sources  CNBC
Focus on Puerto Rico, Washington, as island tries to avert crisis  MSNBC
California cuts water use by 29% in May
Californians reduced their water use by a whopping 29% in May, by far the largest savings since Gov. Jerry Brown called for voluntary 20% cutbacks amid a growing drought emergency last year.
Dude, Californians are totally cutting their water usage  Fortune
California Is Becoming a Dust Bowl  Newsweek
Trump Hotels investigating 'potential suspicious credit card activity'
Donald Trump's hotel organization confirmed Wednesday that it is in the midst of an investigation concerning "potential suspicious credit card activity.
Donald Trump's hotel collection under possible credit card breach: blog  Reuters
Trump hotels latest card breach victim: Report  CNBC
As Uber faces regulatory heat, yet another startup turns its contract workers ...
In the wake of a decision that Uber drivers are employees, yet another startup is changing its relationship with its workers. After the California labor commission ruled last month that Uber drivers must be classified as employees, Fortune reported ...
'Sharing economy' business Shyp changes contractors to employees  Financial Times
Startup Shyp to Make Couriers Employees Amid Regulatory Threat  Bloomberg