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U.S. markets news

Tumbling oil prices slam profit at Exxon Mobil, Chevron
Weak oil prices CLc1 shriveled quarterly profit at Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), compelling both companies to rethink operations and plan for what many expect to be a sustained period of cheap crude.
Exxon Mobil Earnings Cut in Half  Wall Street Journal
Exxon, Chevron Brace for Darker Times as Earnings Slump  Bloomberg
MarketWatch  
US employment costs post smallest gain on record in second-quarter
WASHINGTON U.S. labor costs in the second quarter recorded their smallest increase in 33 years amid tepid gains in the private sector, but it likely was a temporary setback against the backdrop of diminishing labor market slack.
US Labor Costs Rise at Slowest Pace in Three Decades  Wall Street Journal
Wage growth slows sharply in second quarter  USA TODAY
University of Michigan: Consumer Sentiment Dips in July
U.S. consumer sentiment slipped this month but remains at healthy levels, the University of Michigan said Friday. Michigan's index of consumer sentiment fell to 93.1 in July from 96.1 the previous month.
End-July Consumer Sentiment Unexpectedly Slips to 93.1  Wall Street Journal
US consumer sentiment slips in July  Reuters
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 Investigation Into FedEx's Acquisition of TNT Express  Wall Street Journal
FedEx Bid for TNT Faces In-Depth Probe as EU Raises Concerns  Bloomberg
US economy posts 2.3% growth rate
The U.S. economy posted a solid rebound in the April- June quarter after a harsh winter, led by a surge in consumer spending and a recovery in foreign trade that bode well for the rest of the year.
US job market set for more than just 'some' attention  Reuters
Government Changes GDP Calculation to Hide Recession, 2.3% Growth Bogus  People's Pundit Daily (subscription)
China's stock market just had its worst monthly drop in 6 years
The country's economic woes continue. China's stock market fell again on Friday, with The Shanghai Composite Index slipping 1.1% to close at 3,663.73, according to a report in Bloomberg News.
Wall St. Drifts in Early Trading  New York Times
How one man endured the China stock market rollercoaster ride  Sydney Morning Herald
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 to Buy Coyote Logistics for $1.8 Billion  New York Times
UPS Buying Coyote Logistics for $1.8 Billion  ABC News
Indiana company to buy Charlotte-based Avintiv for $2.45 billion
Avintiv, which was previously the Polymer Group Inc. until a name change in June, said in a statement Friday that Evansville, Ind.
Berry Plastics to buy Blackstone-owned Avintiv for $2.45 billion  Reuters
Berry to Buy Blackstone's Avintiv for $2.45 Billion  Bloomberg
Sharp to Explore Options for LCD Panel Business
TOKYO—Sharp Corp. said it would seek external help to prop up its LCD panel-making business and plans to quit selling televisions in the U.S.
Sharp abandons TVs in the US, hands keys to China's Hisense  Engadget
UPDATE 2-Japan's Sharp to exit Americas TV market after deep Q1 loss  Reuters
Greece, Europeans must reach deeper deal before IMF program possible
WASHINGTON The International Monetary Fund can only approve new loans for Greece after Athens reaches an agreement with European governments that would ensure it can pay its debts, an IMF official said on Thursday.
Greece news live: Tsipras says he ordered Varoufakis 'Plan B' as ...  Telegraph.co.uk
Greek PM Tsipras defends Varoufakis over 'Grexit' row  BBC News