Afternoon Coffee: US Trade Deficit Grows, Greece Still Without a Bailout Plan

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Fewer exports and global turmoil helped push the US trade deficit up 2.9% in May to a seasonally adjusted $41.87 billion, the Commerce Department reported today.

Greece failed to present a specific bailout proposal to financial eurozone officials today. The country’s new Finance Minister Euclid Tsakalotos said a plan would be ready tomorrow.

New data suggests restimulation – or refracking – of an oil well may be able to extend the lifespan of oil and natural gas wells throughout the US. Some major oil companies have already started testing restimulation at certain shale plays.

Honda Motor Co.’s new CEO Takahiro Hachigo is planning to develop better products using advanced technology to improve the automakers stance in the market. Hachigo is putting this priority ahead of expanding auto sales volumes.

 

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