Receive Breaking News updates as they occur
The U.S. trade deficit widened in May, fueled by a drop in exports that could heighten concerns over weak overseas demand and a strong U.S. dollar. The Commerce Department reported on Tuesday that the trade gap grew $1.2 billion to $41.9 billion.
By Paul Taylor and Renee Maltezou BRUSSELS (Reuters) - Greek Prime Minister Alexis Tsipras launched a desperate bid to win fresh aid from skeptical creditors at an emergency euro zone summit on Tuesday, before his country's banks run out of money. With Greek banks down to their last few days of cash and the European Central Bank tightening the noose on their funding, Tsipras tried to convince the bloc's other 18 leaders to authorize a new loan swiftly. Lithuanian President Dalia Grybauskaite complained: "With the Greek government it is every time manana." Merkel, under pressure in Germany to cut Greece loose, made clear it was up to Tsipras to present convincing proposals after Athens spurned tax rises, spending cuts and pension and labor reforms that were on the table before its 240 billion euro ($262.7 billion) bailout expired last week.