PASADENA, Calif. (AP) — Manchester United made an impressive debut under coach Louis van Gaal on Wednesday night, with Wayne Rooney scoring twice late in the first half of a 7-0 victory over the LA Galaxy.
By Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) - The U.S. Federal Reserve's policy statement, unchanged for the last four months, will probably stay that way until at least September for one main reason: slow wage growth. Yet Fed officials, who gather for a policy meeting July 29-30, are in no rush to talk about hiking interest rates because wage gains remain stubbornly low, raising questions about just how close the United States is to full employment. While some of the more hawkish officials are anxious to tighten monetary policy and a number of private economists are warning the U.S. central bank risks falling behind on the inflation curve, Fed Chair Janet Yellen has signaled she will resist their pressure until the wage picture is clearer. Data on Tuesday showed only a modest rise in core consumer prices and the Fed's preferred inflation gauge is still below target, giving Yellen breathing room to continue her very cautious steps toward a rate increase, probably next year.
By Ronald Grover , Jennifer Saba and Liana B. Baker LOS ANGELES/NEW YORK (Reuters) - Chase Carey, Twenty-First Century Fox's president and chief operating officer, may be feeling pressure to stay in his job for several more years both from his boss, Rupert Murdoch, and from the company Murdoch is trying to buy, Time Warner Inc. As Murdoch mulls his next step following Time Warner’s rejection of his $80 billion offer, some Time Warner investors say they are concerned about who might succeed the 83-year-old chairman and chief executive. In particular, they're not sure whether Murdoch's sons, James, 41, and Lachlan, 42, are ready to manage the integration challenge. The 60-year-old New Yorker, who's been working for Murdoch since 1988 and earned a reputation for a no-nonsense leadership style, signed a two-year contract with Fox in June that gives him the option to opt out after 18 months.