More Americans than projected filed claims for jobless benefits last week and manufacturing in the Philadelphia region unexpectedly shrank in May, signs the slowdown in growth is rippling through the U.S. economy.
Stocks rose, sending the Standard & Poor’s 500 Index to another record, as weakness in manufacturing and a drop in wholesale inflation fueled bets the Federal Reserve will be in no rush to scale back stimulus. The euro slid as the region’s recession deepened.
Not so long ago, if you believe what you read in the papers and see on TV, Mexico was the next Afghanistan. It was poor, lawless, and plagued by drug violence, a failed-state-in-the-making whose problems and people would soon cascade over the border.
Unilever will spend as much as 292.2 billion rupees ($5.4 billion) lifting a majority stake in its Indian unit as the seller of Lipton tea and Dove shampoo seeks to capture more emerging-market profit and combat slower European growth with its biggest deal in 13 years.