Business Latest News: U.S. Wholesale Inventories Drop Most in Over a Year and Half

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Business Latest News: U.S. Wholesale Inventories Drop Most in Over a Year and Half

Business Latest News: U.S. Wholesale Inventories Drop Most in Over a Year and Half
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Business Latest News: U.S. Wholesale Inventories Drop Most in Over a Year and Half

by Wochit 0:51 mins

U.S. wholesale inventories fell in May by the most in over a year and a half, the second straight monthly decline and a sign that restocking by businesses could weigh against economic growth in the second quarter. Chinese plans to buy America's Smithfield Foods - the world's biggest pork producer - will face intense scrutiny when U.S. senators question Smithfield's chief executive about food safety and foreign ownership. France needs to beef up its methods for fighting tax evasion, according to a parliamentary report on a tax probe into HSBC that revealed $5 billion of undeclared assets across thousands of accounts.

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