• U.S. Economy Weakens: GDP Estimates Chopped, Factory Orders Fall


    Lower factory orders and a lower growth expectation show cracks in America’s already slow recovery.  Factory orders for manufactured goods fell 1% in May, according to a new report by the Census Bureau. That is a sharp reversal of April’s 1.8% growth for new orders of manufactured goods. Meanwhile, shipments were almost flat, down from the 0.4% increase in April.

  • Argentine Business Community Remains Nervous as Economy Recovers


    Manufacturing companies in Argentina have postponed investments in the second half of the year, as the economy takes longer than expected to recover, according to Reuters. President Mauricio Macri has sought to reform the economy through market-oriented reforms and settling Argentina’s debt with creditors. In addition, the economy is threatened by higher living costs and decreased consumption.

  • Low Growth Fears Hit Global Bond Yields


    The problem of negative returns on sovereign bonds may be spreading.  U.S. Treasuries are seeing yields fall on all parts of the curve, with 10-year and 30-year yields reaching historical lows. The 10-year Treasury fell to 1.38% in early morning trading Tuesday, a historic low as fears about growing global uncertainty hit growth expectations both in America and globally. The 30-year Treasury fell to 2.15%, a 101 basis point decline from a year ago (10-year yields fell 100 basis points over the same period).

  • U.S. Government Questions Uzbekistan's Commitment to Eliminate Forced Labor


    A report from the U.S. State Department called Trafficking in Persons (TIP) highlights Uzbekistan’s failure to address forced labor within the agricultural sector, according to The Diplomat. The Central Asian country made strides in reducing forced child labor, but has since used adults as a source of work fodder. Uzbekistan is the fifth-largest cotton exporter in the world.

  • OECD: Britain Won’t be a New Tax Haven as it Wishes


    Following its vote to leave the European Union (EU), its vote also known as “Brexit,” the United Kingdom (UK) has been searching for ways to attract new businesses. One proposal that has gained traction in the government is the idea of becoming a new tax haven for foreign corporations by slashing corporate taxes. The Organization for Economic Cooperation and Development (OECD), however, has put in its opinion on the matter, and it says such an act is unlikely to entice foreign investment.

  • Europe Suffers Loss of Confidence on Brexit Result


    The European Union's collective credit rating was downgraded as mounting fears that the union will break up.  Credit rating agency Standard and Poor's, which maintains credit ratings on companies and countries, slashed the EU's credit rating to AA. It fears that the EU may lose more members in the future.

  • Venezuela Enters Point of No Return as Oil Revenue Plummets


    State-oil firm PDVSA reported a 41% drop in oil income when compared to 2015, according to Reuters. The South American country has suffered under a lower-priced oil market as Saudi Arabia contributed to a market glut. Venezuela also has a history of corruption and overspending, causing further damage to the economy.