Afternoon Coffee: US Economy Contracts in Q1, May Sets New M&A Activity Record

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The US economy contracted 0.7% during the first 3 months of the year. The slowdown at West Coast ports and harsh winter weather are partially to blame for the lack of economic output at the start of 2015.

May has seen a record level of US merger and acquisition activity, however, with $241.6 billion in deals announced. This beats the previous record set in May 2007 of $225.8 billion in M&A deals.

Amazon is planning to join the food supply chain, offering its own line of groceries. The online retailer recently sought trademarks for certain foods under its Elements brand, including pasta, coffee and soup.

Software solutions company Beeline announced it has released “the industry’s first and only self-sourcing solution for vendor management systems,” called OnForce Sourcing.

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