U.S. Economy

• Productivity in nonfarm business was strong during the second quarter Reuters
• Consumer credit rose in June, but at a slower pace than in May. Auto and student loan accounted for most of the increase ABC
• Eighteen American businesses held 36 percent of corporate wealth in 2013, up from 27 percent in 2009 Bloomberg

Around the World

• Russia will impose a full embargo on food imports from the European Unions, United States, and other Western countries BBC
• Italy is suffering through the nation’s third recession since 2008 Bloomberg
• German economic growth has become feeble Reuters