Private job gains in June were 281,000, which was the strongest reading since November 2012. Economists surveyed by Reuters had forecast that the ADPNational Employment Report would show a gain of 230,000 jobs. "The July employment gain was softer than June, but remains consistent with a steadily improving job market," said Mark Zandi, chief economist at Moody's Analytics. "If current trends continue, the economy will return to full employment by late 2016." U.S. companies slowed the expansion of their payrolls from June's blistering pace with goods-producing firms adding 16,000 jobs compared with 43,000 in June.
(Reuters) - Shares of Twitter Inc were set to soar on Wednesday as surprisingly strong user growth eased investor concerns that the popularity of the micro-messaging site was waning. Twitter's user growth stagnated after it went public to much fanfare in November, leading to a management shake-up that included the exit of Chief Operating Officer Ali Rowghani. At that price, Twitter is valued at about $29 billion, or about $6 billion more than at Tuesday's close. Twitter's monthly active users rose 24 percent to 271 million in the quarter ended June 30, more than expected, as it introduced product tweaks and services built around the soccer World Cup.
Two more senior journalists from Rupert Murdoch's defunct British tabloid the News of the World have been charged with phone-hacking, prosecutors said on Wednesday, weeks after the paper's former editor was jailed for the crime. Neil Wallis, the paper's former deputy editor, and former features editor Jules Stenson, have been charged with conspiracy to intercept voicemails on mobile phones of well-known figures or people close to them, the Crown Prosecution Service said. Andy Coulson, who edited the paper from 2003 until 2007 before working as Prime Minister David Cameron's media chief, was jailed on July 4 for 18 months for encouraging staff to hack phones in a bid to get exclusive stories. Outrage at the paper's activities forced Murdoch to close the paper in 2011 when the scale of the crimes came to light, since when dozens of reporters from his British tabloids have been arrested over allegations of criminal activity.
By Ingrid Melander and Emmanuel Jarry PARIS (Reuters) - France's candidate for the European Commission Pierre Moscovici is convinced he will have an important economic portfolio, he told Reuters on Wednesday, rebuffing German concerns that France lacked the budget credibility to take such a job. President Francois Hollande proposed his former finance minister on Tuesday to be France's representative in the next European Commission, which takes office early November. A keen admirer of Keynesian economics, Moscovici said it was crucial for Europe to refocus on growth and jobs via higher investments.