U.S. service firms grew in May at the slowest pace in a year, as both new orders and hiring slipped. The Institute for Supply Management said Wednesday that its services index fell to 55.7 in May from 57.8 in April.
NEW YORK/WASHINGTON The U.S. trade deficit narrowed in April on a drop in imports, which surged in March following the end of a West Coast ports labor dispute, while companies picked up their hiring in May after a pullback the previous month.
Senior executives of Dollar General (NYSE: DG) must be rubbing their hands in glee. The company stock saw a sharp rise in its stock price on the back of the company's strong earnings in the first quarter.
An IRS employee who worked in the agency's St. Louis, MO., office pled guilty this week to charges of tax fraud. Demetria Brown netted $326,000 in a fraud in which she stole taxpayer identities and created fake tax returns to steal refunds.
The Organisation for Economic Co-operation and Development has slashed its forecasts for global growth, as it warned that weak investment and disappointing productivity risk keeping the world economy stuck in a “low-level” equilibrium.