Afternoon Coffee: US Services Sector Slows in July, Boeing Payment Terms Put Pressure on Suppliers

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The U.S. services sector had a sluggish July due to subdued economic activity. Markit reported its Flash U.S. Services PMI Business Activity Index fell to 50.9 this month, down from 51.4 in June and representing the weakest pace of growth in five months.

Rockwell Collins Inc., a Boeing supplier, says it is still waiting on a payment by the planemaker for at least $30 million in goods and services it provided. Boeing is also reportedly negotiating a longer payment schedule with another plane parts supplier GKN.

A Seattle-based startup Flexe is aiming to provide temporary warehouse space for businesses looking to store inventory. Some compare it to Airbnb for the logistics sector, with warehouse owners listing available warehouse space for rent for short periods of time.

Anheuser-Busch InBev has increased its offer to buy SABMiller by roughly $4 billion following a fall in sterling after the Brexit vote and an increase in AB InBev’s shares. The takeover bid now stand a $104 billion.  


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