The gross domestic product fell seven-tenths of a percent from the first quarter — much more than expected, and the most in three years. Output shrank in part because of unusually rainy weather and the extra public holiday because of the Queen's Jubilee.
Only 1 percent of high-tech startups in Silicon Valley are run by African-Americans. The number of women is less than 10 percent. The NewME minority accelerator is trying to change the face of the industry by encouraging, mentoring and training women and minorities to test their ideas in the high-tech and venture capital world.
Over the past two decades, the landlocked city of Brownsville, Texas, has become the hub of the U.S. ship recycling industry. Ships from tankers to aircraft carriers are dismantled and stripped of reusable metals. And despite the world economic slowdown, it's still a highly lucrative business.
M1 Abrams battle tanks are the rock stars of military armor and are made in only one place: Lima, Ohio. The Army says it is done ordering them, but Congress appears intent on spending millions for more, arguing that cutting production is bad for the economy and national security.
The Montgomery County Planning Board approved new zoning restrictions for "mega" gas stations like the one planned for a Costco in Wheaton, but the buffer approved is less than residents would have liked.
In politics, offshoring and outsourcing are dirty words. President Obama and Republican challenger Mitt Romney have traded attacks over the issue of American jobs being moved overseas. But economists tend to see the trend as inevitable in a modern global economy.
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