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General Electric Co., which is working to refine its offer for Alstom SA’s energy assets, will present new terms on Thursday as it seeks to thwart a counter bid by Siemens AG, said two people familiar with the matter. more
The U.S. economy contracted in the first quarter by the most since the depths of the last recession as consumer spending cooled. more
Spending on non-residential construction in the U.S. will be less than initially projected as state and local governments scale back investments in such properties as schools and health care buildings, the American Institute of Architects said. more
Retail sales increased in March by the most since September 2012 as Americans bought more cars, clothing and garden supplies, helping the economy recover from a weather-depressed start to the year. more
Orders for durable goods poured into American factories in March, setting up manufacturing as one of the central drivers of a rebound in economic growth during the second quarter. more
A $17.8 billion submarine contract, the biggest weapons deal announced by the U.S. military in more than a dozen years, kept Pentagon awards from sinking last month. more
Orders for durable goods unexpectedly climbed for a third month in April, a sign U.S. factories will help the world’s biggest economy strengthen. more
Industrial production climbed more than forecast in May, a sign gains in manufacturing are supporting growth as the U.S. economy picks up. more
The U.S. Transportation Department is notifying states that federal reimbursements for highway and transit construction projects will slow down as soon as August. more
The Pentagon paid Textron Inc.’s Bell Helicopter unit $8,123.50 each for gears that should have cost $445.06, according to a report by the Defense Department’s inspector general. more
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