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Second-quarter GDP to slow sharply on tax burden

WASHINGTON (Reuters) - Economic growth probably slowed sharply in the second quarter, but its pace is unlikely to change views that the Federal Reserve will start trimming bond purchases later this year. Full story

OMG ... Kardashians & GDP

   Michael Feroli, JPMorgan, explains why the latest revision of the nations's gross domestic product will likely show modest growth.

Breaking taboo, Mexico government aims to tax food, medicine

MEXICO CITY (Reuters) - Mexico plans to boost its tax coffers by an extra $50 billion a year with an overhaul that aims to extend sales tax coverage, close tax loopholes and could impose charges on capital gains. Full story

Analysis: Watch revenue when parsing western vs emerging bonds

LONDON (Reuters) - Watch governments' revenues, and not just how much their economies produce, to see if they can support their debt piles. Full story

Banks’ profits vs. regulation and Head Start

   Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities, joins Martin Bashir to explain how a confluence of money – currently boosting banks’ bottom lines – has Congress valuing deregulation and low income taxes over things like Head Start.

Business inventories barely rise in May

WASHINGTON (Reuters) - Business inventories rose marginally in May as sales rebounded, adding to a raft of data that have pointed to a sharp slowdown in economic growth in the second quarter. Full story

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Singapore Q2 growth surges but economy still not out of woods

Bulgaria to raise fiscal deficit to 2 percent of GDP - minister

Brazil to make cuts in its 2013 budget

Analysis: Portugal's woes shine light on rest of euro zone periphery

Portugal budget deficit up, government sticks to goal

First-quarter growth reading slashed in cautionary note on economy

Mexico aims to bring shadow economy into the light

Don't Touch Fannie Mae and Freddie Mac

Spain's public deficit to April around 2.17 percent of GDP

Business inventories rise in April, but sales weak

Video

  US Q1 GDP Tepid at Just 1.8%

CNBC's Rick Santelli breaks down the numbers on the nation's gross domestic product and discusses what it indicates about the economy and its impact on the markets, with CNBC's Steve Liesman.