Boom time for mergers and acquisitions
CNNMoney: The corporate world is in the midst of a grand shopping spree. It's only June, but already there has been $786 billion worth of mergers and acquisitions in the United States, according to Dealogic. That's a lot more than the past few years and not far off from the total for all of 2007, the last "big spender" year.
IMF cuts U.S. growth outlook, says full employment years off
Reuters: The International Monetary Fund cut its growth forecast for the United States on Monday and said the economy would not reach full employment until the end of 2017, allowing interest rates to be held near zero for longer than financial markets expect. In its annual health check of the U.S. economy, the IMF cut its 2014 forecast for U.S. growth to 2 percent from the 2.8 percent it predicted in April, due to a weak first quarter. It kept its 2015 forecast unchanged at 3 percent, as job creation picks up after a harsh winter.
Arts retailer Michaels crafts a $500 million IPO
Forbes: The Michaels Cos. - owner of the eponymous arts and crafts retail chain Michaels as well as framing chain Aaron Brothers - said in a filing Monday that it plans to sell more stock sometime this year to raise a half billion dollars. In an updated Securities and Exchange Commission filing, the nation's largest seller of arts and crafts goods said that it plans to raise $500 million by offering 27.8 million shares at a price range of $17 to $19.