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Verizon wireline workers: No strike...for now

Verizon and the unions representing its wireline unit employees on the U.S. East Coast said work will go on as talks continue.
Source: Reuters
Loews posts 2Q profit

NEW YORK _ Loews Corp. on Monday reported second-quarter earnings of $170 million. The New York- based company said it had net income of 46 cents per share. Loews shares have declined slightly more than 9 percent since the beginning of the year, while the Standard& Poor's 500 index has increased 2 percent.
Source: The Associated Press
How the IMF and US were party to Greece's tragedy

After helping to maintain the integrity of the euro zone, the U.S. and the I.M.F. seem to have finally realized the danger they have created.
Source: CNBC.com | By: Michael Ivanovitch
Drivers weigh in on Uber boom in NYC

While New York City riders have increasingly more choices in how to get from here to there with the rise of e-hailing apps- and lawmakers grapple with how to regulate the booming industry- the drivers who keep cars moving are stuck in the middle. "In three years, there will be no taxis on New York City streets," Uber driver Michael Keflom predicted as he prowled the...
Source: The Associated Press | By: By LEJLA SARCEVIC, Associated Press
Misery deepens for those in Puerto Rico who can't leave

SAN JUAN, Puerto Rico- Most tables are empty at Walter Martin's coffee shop in San Juan's colonial district. But Puerto Rico's entrenched economic crisis is leading people to either cut their personal spending to the basics or flee to the mainland to search for jobs, contributing to the struggles of those left on the island. Nearly 10 years into a deep economic...
Source: The Associated Press | By: By DANICA COTO, Associated Press
GLOBAL MARKETS-Asian stocks near 2015 lows on China economy worry, dollar strong

HONG KONG, Aug 3- An index of Asian shares outside Japan fell close to this year's lows thanks to a deepening selloff in commodities and concerns over slowing growth in China, while the dollar held its ground against a basket of currencies. "We believe the stock market panic in early July chilled economic activity, which is what the manufacturing PMIs picked up," ING...
Source: Reuters | By: Saikat Chatterjee
GLOBAL MARKETS WEEKAHEAD-Commodities, currencies and China in the limelight

With most commodities priced in U.S. dollars, the strength of the greenback, and the slowdown in China is leading a rout in commodity markets. "If Saudi Arabia and Iraq keep running full tilt and Libya and Iran get their oil production back on track, crude prices could languish below $60 for the next three years," said Morgan Stanley analyst, Martijn Rats in a research...
Source: Reuters | By: Clive McKeef
Why a 'policy put' is in place in China  

Mohammed Apabhai, head of Asia Pacific Trading Strategies at Citi, explains the need for Beijing to intervene in the country's stock market.
Source: CNBC.com
CORRECTED-UPDATE 10-Oil drops for 5th week; US crude in biggest monthly fall since 2008

*Oil hit by bearish Reuters July survey on OPEC oil. *5 rigs added this week to U.S. oil rig count- Baker Hughes. NEW YORK, July 31- U.S. crude posted its biggest monthly drop since the 2008 financial crisis on Friday after a string of losses in July triggered by China's stock market slump and signs that top Middle East producers were pumping crude at record levels.
Source: Reuters | By: Barani Krishnan
China textile factories recruit US workers

Once the epitome of cheap mass manufacturing, textile producers from formerly low-cost nations are setting up shop in America, the NYT reports.
Source: The New York Times | By: Hiroko Tabuchi