Reuters - Manufacturing expanded in June for the
first time in five months, helped by a weak dollar, but
inflation pressures soared to their highest since the
stagflation-ravaged 1970s, according to a report that
highlighted the bind facing policy-makers.
AP - General Motors Corp. outsells Toyota Motor Corp. in June to retain its traditional U.S. sales lead, even though GM says its sales dropped 18.2 percent for the month.
AP - Each week, Ira Cooper opens a letter from another supplier with the same message as the last: We're raising our prices, effective immediately. We can't tell you how long the new prices will last.
Reuters - The Dow and S&P 500 were little
changed on Monday on the final trading day of the second
quarter as record oil boosted energy shares, offsetting weak
financial stocks amid nagging concerns of further credit
losses.
Reuters - The U.S. economy continues to bump
along at a slow level of growth but has probably not fallen
into recession, a series of regional purchasing managers'
reports suggested on Monday.
AP - Interest rates on short-term Treasury bills were mixed in Monday's auction with yields on three-month bills rising while six-month bills declined. -- read full article
Reuters - Chrysler LLC will shut its St Louis
minivan plant, cutting production of its top-selling vehicle
and 2,400 factory jobs in a sign of the automaker's troubles
with a market reeling from record gas prices.
Reuters - Treasury Secretary Henry Paulson on
Tuesday said the United States and Germany agreed that a
breakthrough in Doha round of trade talks would help control
food inflation around the world. -- read full article
Reuters - U.S. personal spending rose by a
more-than-expected 0.8 percent in May as government stimulus
checks bolstered household budgets, government data on Friday
showed. -- read full article
Reuters - The world needs higher interest rates to
tackle a clear inflation threat, even though economic growth is
likely to be hit harder than most observers expect, the Bank
for International Settlements said on Monday.
Reuters - Many NASCAR fans think nothing of
jumping in their recreational vehicles or pickup trucks and
driving 300 miles or more to watch races in places like
Talladega, Alabama; Bristol, Tennessee; and Las Vegas.
AP - The government says farmers will harvest nearly 7 percent fewer acres of corn than last year in part because Midwest flooding has damaged the crop. -- read full article
Reuters - Stocks rose on Monday as record crude
oil prices lifted energy shares on the final trading day of the
month and the second quarter, offsetting a financial sector
sell-off on fears of further credit losses.
Reuters - Business activity in the U.S. Midwest
contracted in June for a fifth straight month but at a less
severe rate, even as production and new orders both slipped, a
report showed on Monday.
