Afternoon Coffee: Wal-Mart Quietly Adds Overseas Vendors to Online Store, U.S. Market for Tech Outsourcing Grows

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Stepping away from its Made-in-America campaign, Wal-Mart is recruiting vendors from China and other countries to better compete with its online store, Reuters reports. The primary motivator is necessity: not all of the goods customers want are manufactured in the U.S.

Tech Outsourcing 

Offshoring technology jobs to firms in India has been the strategy of many American companies for decades now, but several factors are starting to reverse this thinking. As the New York Times writes, the growth of offshore software work has slowed to nearly half of the pace in recent years, leading to increased interest in hiring U.S.-based firms for the same work.

Iron Ore Resurgence  

Despite low prices for most of the year, a late surge helped the iron ore industry make a comeback in 2016, according to the new UNCTAD Iron Ore Market Report.

"The market for base metals such as iron ore is a yardstick for the global economy, and in recent years it has fluctuated closely with the state of emerging and developing countries economies", said Yanchun Zhang, chief of UNCTAD's commodity policy implementation and outreach section.

Loonie News 

And finally, a forex update: The Canadian dollar has risen 10% since early May, the Wall Street Journal reports, and traders are betting the currency will continue to remain strong for the foreseeable future.

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