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Spot Prices as of traditional New York closing timesFriday, July 31, 2015 |
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Spot Prices as of traditional New York closing timesFriday, July 31, 2015 |
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Bureau of Labor Statistics |
The latest Employment Cost Index news release has been posted on the BLS website at http://www.bls.gov/news. | |
Compensation costs little changed at 0.2% Mar-Jun 2015 and 2.0% over the year ending June | |
07/31/2015
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Compensation costs little changed at 0.2
percent for civilian workers, seasonally adjusted, from March to June
2015. Over the year, compensation rose 2.0 percent, wages and salaries
up 2.1 percent, and benefits rose 1.8 percent.
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Euro inflation unchanged, Commodities rout continues and China
stocks worst monthly decline in six years. Here are some of the things
that people in markets are talking about this morning.
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This morning's flash estimate of inflation from Eurostat, the European statistical agency showed euro-area inflation unchanged at 0.2 percent in July,
in line with the median forecast of economists surveyed by Bloomberg.
Core inflation unexpectedly rose to 1 percent, the highest rate in 15
months.
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Commodities extended their worst monthly fall since 2011, with the Bloomberg Commodity Index set for a 10 percent slump in
July. The broad-based sell-off has seen oil drop with WTI down 19
percent and gold fall 7.5 percent during the month. Meanwhile the U.S.
dollar spot index is 2.6 percent higher as expectations of Fed
tightening increased.
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The Shanghai Composite Index dropped 1.1% in Friday trade to cap its worst monthly performance since
August 2009. The index has fallen 14 percent, the biggest loss among 93
global benchmarks tracked by Bloomberg. The fall comes in spite of
unprecedented government intervention in the Chinese equity market.
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Japanese inflation barely grew in June with
consumer prices excluding fresh food rising 0.1 percent. Inflation in
the Tokyo dropped bu 0.1 percent under the same measure. With the Bank
of Japan still falling far short of its 2 percent target, Abenomics is
starting to come under pressure. The median estimate of economists
surveyed by Bloomberg is for a drop in GDP growth to 0.8 percent in the quarter ending June from the previous quarter's 3.9 percent.
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Bloomberg News executive editor for economics, Dan Moss highlights the release at 8:30 a.m. ET of the quarterly Employment Cost Index by
the U.S. Bureau of Labor Statistics. The index, which is another way of
tracking labor costs, has been accelerating in recent quarters. And it
offers some hope that average hourly earnings will also rise. Morgan
Stanley is looking for year-on-year growth of 2.6 percent.
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Here's what you should read today |
Facebook takes to the skies to give internet to everyone.
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Beijing, not famed for its snow (or mountains) wins bid to host 2022 winter Olympics.
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The oil-market accepts that lower prices are here for years, rather than months.
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The commodities rout is hurting hedge funds, as more closures are announced.
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Kraft foods, in a cost-reducing exercise has stopped providing free snacks to its own employees.
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The Jeep hack has exposed the weakness in tech in modern cars.
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Tsipras says Varoufakis has odd taste in shirts, but didn't wreck Greece's economy.
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Even if the Greek situation ultimately resolves in a quiet manner, it
seems indisputable that the eurozone still has big, slow-moving
problems to contend with. Today we got fresh unemployment data out of
the eurozone that underscores just how weak the economy is. The headline
unemployment rate remains at an elevated 11.1 percent. At the extremes,
you have German unemployment at 4.7 percent and Greek unemployment at
25.6 percent. The most worrisome number, however, probably came from
Italy where unemployment jumped to 12.7 percent from 12.5 percent in the
previous month. More ominously, Italian youth unemployment jumped to a
record high above 44 percent. As Matt O'Brien at The Washington Post pointed out yesterday,
Italy and Greece have both grown the same amount since 1999 at just 4.6
percent in total -- in other words, both countries have seen horrible
stagnation. What's going on in Italy is a story that bears a lot of
watching.
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By AMIE TSANG
SUPREME COURT ASKED TO REVIEW INSIDER TRADING CASE
Preet Bharara, the United States attorney in Manhattan, will get one more chance to preserve his near-perfect record in insider trading prosecutions, Alexandra Stevenson and Matthew Goldstein report in DealBook.
Mr. Bharara persuaded the Justice Department to ask the Supreme Court
to review an appellate court ruling that narrowed the definition of
insider trading and overturned the convictions of two hedge fund
managers.
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7/31/2015 | nytimes.com/firstdraft » |
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Spot Prices as of traditional New York closing timesThursday, July 30, 2015 |
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Dear Friends: Soon I'll be back with you with my selected financial daily News. Please, stay tuned ...