U.S. BUD­GET DEFICIT ROSE IN JUNE

The Denver Post - - BUSINESS - — Den­ver Post wire ser­vices

WASH­ING­TON» The fed­eral bud­get deficit rose sharply in June com­pared to a year ago, although much of the in­crease re­flected cal­en­dar quirks.

The Trea­sury Depart­ment said Thurs­day the June deficit to­taled $90.2 bil­lion com­pared to a sur­plus in June 2016 of $6.3 bil­lion. How­ever, out­lays grew by $39 bil­lion this year be­cause ben­e­fit pay­ments that nor­mally would have been dis­trib­uted in July were made in June since July 1 fell on a Satur­day.

Through the first nine months of this bud­get year, the deficit to­tals $523.1 bil­lion, up from a deficit of $399.2 bil­lion dur­ing the same pe­riod a year ago.

Trump weighs steel tar­iffs, quo­tas.

Pres­i­dent Don­ald Trump is con­sid­er­ing putting tar­iffs and quo­tas on steel im­ported from for­eign coun­tries.

The pres­i­dent says that China and other un­named coun­tries are dump­ing steel in the U.S. mar­ket. That hurts U.S. steel­mak­ers by re­duc­ing prices, he said. “We’re like a dump­ing ground, OK? They’re dump­ing steel and de­stroy­ing our steel in­dus­try,” Trump said.

He says he is con­sid­er­ing both quo­tas and tar­iffs to stop any dump­ing.

Drilling off Alaska gets OK.

ANCHORAGE, ALASKA»

Pe­tro­leum ex­plo­ration has largely ceased in fed­eral waters off Alaska but an Ital­ian multi­na­tional oil and gas com­pany has re­ceived per­mis­sion to move ahead with mod­est drilling plans on leases sold in 2005. The fed­eral Bu­reau of Ocean En­ergy Man­age­ment late Wed­nes­day an­nounced con­di­tional ap­proval of an ex­ploratory drilling plan sub­mit­ted by Eni US Op­er­at­ing Co. Inc., part of Eni S.p.A.

Ver­i­zon data leaked.

Ver­i­zon con­firmed Wed­nes­day that data be­long­ing to 6 mil­lion cus­tomers was leaked on­line in June. News of the in­ci­dent was first re­ported by ZDNet.

In a state­ment on the com­pany’s web­site, Ver­i­zon said the leak was caused by an em­ployee of one of the com­pany’s ven­dors who ac­ci­den­tally al­lowed ex­ter­nal ac­cess to in­for­ma­tion put in a cloud stor­age area.

Good news for Tar­get.

Tar­get is boost­ing its out­look for the sec­ond quar­ter after its cam­paign to re­vi­tal­ize the brand pushed sales higher and lifted cus­tomer traf­fic. It’s an en­cour­ag­ing sign that ef­forts to in­crease the range of ex­clu­sive brands un­der its roof and an ev­ery­day, low­price mes­sage are work­ing.

Snap part­ners with For­mula One.

Snap Inc., cre­ator of the pop­u­lar Snapchat so­cial-me­dia net­work, is part­ner­ing with bil­lion­aire John Malone’s For­mula One to let auto-rac­ing fans use the ser­vice to post clips and pho­tos dur­ing this week­end’s Bri­tish Grand Prix and fu­ture F1 con­tests. Malone’s Lib­erty Me­dia Corp., based in En­gle­wood, ac­quired For­mula One in Jan­uary.

Uber cedes Rus­sia.

Uber is ced­ing con­trol of the Rus­sian mar­ket by agree­ing to merge its ride-hail­ing busi­ness in the coun­try with Yan­dex, the Rus­sian search-en­gine leader that also runs a pop­u­lar tax­i­book­ing app.

Nord­strom sale has on­line woes.

On­line shop­pers look­ing to score bar­gains dur­ing the Nord­strom an­niver­sary sale in­stead faced glitches. In some cases, they saw their vir­tual carts emp­tied at check­out. The Seat­tle­based depart­ment store apol­o­gized in a tweet.

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