Global economists predict the world’s lowest growth in a decade

The world economy is slowing, and it could be headed toward a recession. The Organization of Economic Co-Operation and Development, an intergovernmental economic group, just slashed its forecast for global growth to a decade low. The OECD projects the world economy will grow just 2.9% in 2019, which would be the lowest forecast since 2009.…MORE

America’s CEOs have a new spokesman. He’s from Walmart

Walmart CEO Doug McMillon on Thursday was named the incoming chairman of Business Roundtable, the prominent group of 192 chief executives representing corporate America’s interests in Washington. McMillon, a Walmart lifer who became the company’s chief executive in 2014, will serve a two-year term as Business Roundtable’s leader beginning in January. McMillon will take over…MORE

Dow closes slightly lower after Fed’s interest rate decision

Stocks finished mixed Thursday, as investors come to grips with the Federal Reserve forecasting no further interest rate cuts this year. The Dow closed 54 points, or 0.2%, lower, while the S&P 500 ended flat. The Nasdaq Composite finished 0.1% higher. Lower interest rates are good for stocks, because they make it cheaper for companies…MORE

Impossible Burgers will start selling in grocery stores for the first time this week

Impossible Burgers will hit grocery shelves for the first time on Friday. The soy-based meat substitute will be sold at all 27 Gelson’s Markets locations in Southern California, Impossible said Thursday. Later this month, the product will become available in grocery stores on the East Coast. Impossible is launching its retail product as the meatless…MORE

Starbucks’ new store concept: Pick-up only

Starbucks has begun construction on a new location dedicated exclusively to mobile orders. The new store format is called “Starbucks Pick-Up,” only accepting orders from the Starbucks app. The first-of-its-kind location in the United States will be located near Penn Station in New York City. Starbucks hasn’t announced an opening date. The location is based…MORE

Burger King ditches plastic toys in UK kids’ meals

Burger King UK is removing plastic toys from kids’ meals in a bid to reduce its environmental impact. The company was spurred to action after two young sisters in the country launched a petition against plastic toys that was signed by more than half a million people. Some 320 tonnes of single-use plastic will be…MORE

Why the Fed is trying to stay flexible

Happy Thursday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. The Federal Reserve delivered an interest rate cut as expected on Wednesday. But investors looking for meaningful clues about the likelihood of future reductions were left disappointed. Here’s how Chairman…MORE

Japan’s richest man fears Brexit could turn UK into ‘sick man of Europe’

Japan’s richest man has warned that Brexit is “practically impossible” and could take the United Kingdom back to the economic stagnation of the 1970s when the country was often described as the “sick man of Europe.” Tadashi Yanai, the billionaire founder and CEO of Fast Retailing, said the United Kingdom had benefited for many years…MORE


Local Weather