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☆ 260 McNuggets? McDonald’s Ends A.I. Drive-Through Tests Amid Errors
▼ + stars: | 2024-06-21 | by ( Hank Sanders | ) www.nytimes.com time to read: +1 min

Stop!” two friends screamed with humorous anguish on a TikTok video as an A.I. drive-through misunderstands their order, tallying up 240, 250 and then 260 Chicken McNuggets. In other videos, the A.I. So when McDonald’s announced in a June 13 internal email, obtained by the trade publication Restaurant Business, that it was ending its partnership with IBM and shutting down its A.I. tests at more than 100 U.S. drive-throughs, customers who had interacted with the service were probably not shocked.

Persons: McDonald’s Organizations: IBM Locations: U.S

☆ Four self-made millionaires echo the same advice for success: Just get started
▼ + stars: | 2024-06-21 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +6 min

Throughout my time working at CNBC, I've chatted with different entrepreneurs, from people who started successful side hustles to the founders of global unicorn companies. In my conversations with successful entrepreneurs, I've found that those who became successful and "made it" tend to echo the same advice. Advice #2: Lean into what makes you uniqueAnother piece of advice Mahlum gave is to lean into what makes you yourself. "I think the best advice that I can give to fellow entrepreneurs is to be different," he told CNBC. Advice #4: Just get startedIn all my conversations with entrepreneurs, by far, the one piece of advice I've heard the most, is to simply get started.

Persons: Shawn Tsao, I've, Jason McGowan, McGowan, they'd, Anne Mahlum, Solidcore Anne Mahlum, Mahlum, Edward Tirtanata, Tirtanata, Uber, Jack Organizations: CNBC, I've, Lean, Nike Locations: New York, Solidcore, Indonesian, Southeast Asia

☆ Human rights lawyer to political reformer: Who is Keir Starmer, the UK's new would-be prime minister
▼ + stars: | 2024-06-21 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Labour Party leader Sir Keir Starmer speaks ahead of the U.K.'s general election on July 4, 2024. The left-of-center opposition party retains a commanding lead of around 20 points over current Prime Minister Rishi Sunak's Conservatives, according to the latest YouGov poll. But who is Keir Starmer — Labour's leader and the clear favorite to become prime minister after Britain's July 4 election? Starmer also served as a human rights adviser during former Labour Prime Minister Tony Blair's Northern Ireland Good Friday Agreement. Labour leader Keir Starmer takes a selfie with students after a campaign event at Three Counties Medical School on May 29, 2024.

Persons: Sir Keir Starmer, Anthony Devlin, Rishi Sunak's, Nigel Farage's, Keir Starmer —, Starmer, Margaret Thatcher's, Tony Blair's, Jeremy Corbyn, Keir Starmer, Christopher Furlong Organizations: Labour Party, Getty, Conservative, Britain's Labour Party, Labour, Conservatives, British, National Health Service, University of Leeds, University of Oxford, Shell, Tony Blair's Northern, Service, Counties Medical School, Wealth Fund Locations: London, England, Victoria, EU, Britain

☆ I tried CosMc's for the first time. I don't think this new McDonald's spin-off will last very long.
▼ + stars: | 2024-06-21 | by ( Emily Krivograd | ) www.businessinsider.com time to read: +1 min

Emily KrivogradAt the end of the day, I wouldn't go out of my way to visit CosMc's. None of the menu items seemed like a particularly great value, either, considering I can get something I already know I enjoy from a similar chain for about the same price. CosMc's is set to open 10 locations by the end of 2024, but so far, the chain hasn't even reached half that number. Even so, CosMc's still has a long way to go before it builds a loyal fan base like McDonald's or Starbucks have. But I'll probably just stick to waiting in line at Starbucks — and maybe return to CosMc's for some McPops.

Persons: Emily Krivograd Organizations: Starbucks Locations: CosMc’s, CosMc's

☆ Chipotle's latest marketing campaign shows how restaurants are getting creative to win your lunch break
▼ + stars: | 2024-06-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Chipotle's newest pitch in the big business that is winning your lunch break. Market research firm Future Markets Insights pegged the lunch takeout market at $215.3 billion in 2022 . Chipotle's latest marketing campaign shows how creative restaurants are getting to nab your lunch order. Bitcoin's cooldown might be a warning for the stock market. A Stifel strategist predicted a late-summer stock market decline based on bitcoin's 10% sell-off in the past few weeks.

Persons: —, Chelsea Jia Feng, Keith Lee, Alyssa Powell, haven't, Taco Bell, Tim Hortons, Burger King, sarayut Thaneerat, Tyler Le, Ken Griffin, Bitcoin's, isn't, That's, Jensen Huang's, Satya Nadella's, Marc Piasecki, Elon Musk, They're, Alfie, Alfie Health, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, nab, bros, Chipotle, Getty, Brands, KFC, Taco, BI Citadel, Sunshine State, Congressional, Nasdaq, Apple, Apple Intelligence, Nvidia, Microsoft, Amazon, Elon Locations: Cava, Illinois, Florida, China, New York, London

☆ Fake elector case in Nevada dismissed over venue question, state attorney general vows appeal
▼ + stars: | 2024-06-21 | by ( Associated Press | ) edition.cnn.com time to read: +5 min

Nevada Attorney General Aaron Ford said he’ll take the issue to the state Supreme Court after Clark County District Court Judge Mary Kay Holthus ruled that Las Vegas was the wrong venue for the case. “They’re done,” said Margaret McLetchie, attorney for Clark County Republican Party chairman Jesse Law, one of the defendants in the case. The state Republican Party issued a statement welcoming the court decision, pointing to Ford’s vow to appeal and asking for contributions to continue the court fight. Chattah ran as a Republican in 2022 for state attorney general and lost to Ford by just under 8% of the vote. Also, unlike other states, Nevada did not have a legal challenge pending in courts at the time.

Persons: Donald Trump, Aaron Ford, he’ll, Mary Kay Holthus, we’ll, ” Ford, “ They’re, ”, Margaret McLetchie, Jesse Law, Michael McDonald, Jim DeGraffenreid, Shawn Meehan, Jim Hindle, Eileen Rice, McDonald’s, Richard Wright, Ford, ” Wright, Holthus, Matthew Rashbrook, McDonald, Brian Hardy, Meehan, Sigal Chattah, Chattah, Joe Biden, Kenneth Chesebro, Chesebro, Trump, Biden, State Barbara Cegavske, Cegavske Organizations: LAS VEGAS, Las, Clark County Republican, Democratic, Republican, “, Republican Party, Convention, Ford, Trump, State Locations: Nevada, Clark, Las Vegas, Carson, Douglas, Storey County, Carson City, Reno, ”, Nevada’s Storey, Milwaukee, Arizona, Georgia, Michigan, New Mexico, Pennsylvania, Wisconsin

☆ Casual dining has held up pretty well despite fast food's struggles, says Evercore's David Palmer
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCasual dining has held up pretty well despite fast food's struggles, says Evercore's David PalmerDavid Palmer, Evercore ISI senior managing director, joins 'Squawk on the Street' to discuss if the consumer is beginning to fold in some areas, cohorts beginning to show momentum in spending, and if value menus and promotional deals will help McDonald's and Starbucks.

Persons: Evercore's David Palmer David Palmer Organizations: Starbucks

☆ Asia's answer to Chipotle is now a $1.5 billion public company
▼ + stars: | 2024-06-20 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewAsia's version of Chipotle — a Mexican fast-casual chain called Guzman y Gomez — just went public in Australia. The initial public offering brings GYG's valuation to 2.2 billion Australian dollars, or $1.47 billion. The US-based Mexican fast food chain is valued at $94 billion and posted a revenue of nearly $10 billion last year. Chipotle owns and operates all of its restaurants, unlike GYG, which follows a franchise model. They are only available to institutional investors, eligible employees and franchise holders, and retail clients of brokerages who have been allocated GYG shares, the company said in a pre-IPO release.

Persons: —, Guzman y Gomez —, GYG, Steven Marks, Marks, Chipotle, Michael Hutchens, didn't, Hutchens, brokerages Organizations: Service, Australian Securities Exchange, Business, Morningstar, Growth Partners, Barrenjoey, Cooper Investors, Hyperion Asset Management, Firetrail Investments, QVG Locations: Mexican, Australia, Sydney, Singapore, Japan, North America, Europe

☆ Fast-food customers are shifting to casual-dining chains, Darden Restaurants CEO says
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Casual-dining chains are gaining customers who have grown frustrated with higher fast-food prices, Darden Restaurants CEO Rick Cardenas said on Thursday. Chili's rolled out an ad campaign that calls out the Big Mac and other fast-food burgers for their prices. Dine Brands CEO John Peyton told CNBC in May that Applebee's has been leaning into deals to win over fast-food diners. The overall consumer price index rose 3.3% in that period. In particular, McDonald's has faced backlash from customers, social media users and even House Republicans for its higher prices.

Persons: Rick Cardenas, Darden, hasn't, Brinker, Chili's, John Peyton, Applebee's, Cardenas, McDonald's, Joe Erlinger Organizations: Darden, Brinker International, Dine Brands, CNBC, of Labor, Republicans Locations: U.S

☆ McDonald’s releases a new $5 value meal to combat inflation
▼ + stars: | 2024-06-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales and lure back customers who have cut back. Beginning June 25, McDonald’s US locations are selling a “$5 Meal Deal” for a limited time. Word of McDonald’s newest value meal was released last month in the Wall Street Journal, prompting fast food rivals to get a jumpstart on offering similar deals and attract cost-conscious eaters. Burger King, Wendy’s and even Starbucks have rolled out meal deals in recent weeks. The arrival of the McDonald’s meal deal comes at a time when the company is battling the perception that it has become too expensive.

Persons: New York CNN — McDonald’s, ”, Joe Erlinger, Burger, Erlinger, McDonald’s, “, they’re, John Palmaccio Organizations: New, New York CNN, McDonald’s, Street, Mac, ”, Advertising Fund Locations: New York, Memphis, Columbus , Ohio

☆ Why Olive Garden doesn’t want to give discounts
▼ + stars: | 2024-06-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

But Olive Garden is holding out. In the quarter ending on May 26, sales at Olive Garden restaurants open at least 16 months dropped 1.5%. Olive Garden has tried to avoid such pushback by keeping its price increases low. “While Olive Garden same restaurant sales were below the industry, same-restaurant guest counts outperformed the industry,” Vennam said. “The way we do it is more sustainable.”Rather than vie for customers with steep discounts, Olive Garden is planning to bring people in by highlighting its regular offerings.

Persons: they’ve, Olive, “ We’re, ”, Rick Cardenas, Olive Garden, Cardenas, Raj Vennam, ” Vennam, Eddie V’s, David Henkes, Technomic, ” Cardenas Organizations: New, New York CNN, Darden, Olive Garden, Olive, LongHorn, Bureau of Labor Statistics, CNN Locations: New York, Applebee’s, Olive Garden’s, Olive

☆ Former Obama press secretary Robert Gibbs hired to lead Warner Bros. Discovery PR
▼ + stars: | 2024-06-18 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

CNN —Robert Gibbs, a former White House press secretary during the Obama administration, will be joining Warner Bros. Warner Bros. But, like its competitors, Warner Bros. has largely struggled to persuade people to go to the movies this year. And Warner Bros. It won’t be Gibbs’ job to fix the media industry woes that are challenging Warner Bros.

Persons: Robert Gibbs, Obama, Gibbs, “ Barbie ”, Robert, ”, David Zaslav, Zaslav, ” Gibbs, Barack, He’ll, Katie Martin Kelly, Laura Watson, Nathaniel Brown Organizations: CNN, White House, Warner Bros, White, TNT, Discovery, NBA, Warner Bros . Discovery, DC Entertainment, Senate

☆ White Castle is taking drive-thru orders using an AI voice system that claims to be more accurate than a human
▼ + stars: | 2024-06-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

White Castle is just one in a long line of restaurant chains toying with drive-thrus powered by voice-recognition AI. Chains such as Taco Bell, McDonald's, and Checkers & Rally's have all tested or introduced voice AI drive-thrus. AdvertisementBut voice AI drive-thrus are far from achieving widespread adoption. Last year, restaurant-tech company Presto Automations revealed in an SEC filing that over 70% of its voice AI orders required assistance from off-site human workers. AdvertisementIf customers don't want to order using the voice AI system, they can ask to speak to a human, he said.

Persons: —, Julia, Julia isn't, Taco Bell, McDonald's, Jamie Richardson, White, Richardson, Ben Bellettini, SoundHound's, SoundHound, SoundHound doesn't, fryer Organizations: Service, Business, SEC, IBM Locations: White, St Louis, Cincinnati, Indiana, Merrillville

☆ McDonald's to end AI drive-through test with IBM
▼ + stars: | 2024-06-17 | by ( Kate Rogers | ) www.cnbc.com time to read: +4 min

The drive-through menu at a McDonald's restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. The fast-food giant will end a test run of its AI drive-through technology partnership with IBM in more than 100 restaurants. In a statement, McDonald's told CNBC it is not ruling out potential AI drive-through plans in the future, even though it ended the IBM partnership. In statement, IBM said it will work with McDonald's on "a variety of other projects" as the test ends. While McDonald's AI plans for the future are unclear, all eyes will be on Alphabet 's Google.

Persons: Mason Smoot, McDonald's, Sundar Pichai, Peter Saleh, Saleh Organizations: IBM, CNBC, McDonald's, Yum Brands, Mastercard, Google Locations: Buttonwillow, Kern County , California, Del Taco, Barcelona

☆ Andy Sieg Could Be Citi's Next CEO If He Can Fix a Broken Wealth Business
▼ + stars: | 2024-06-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

Andy Sieg shocked the finance industry last spring when he left Merrill Wealth Management. AdvertisementBank of America analyst Ebrahim Poonawala recently argued that Citi should consider selling the wealth business if it cannot improve its profitability. AdvertisementWhile Sieg has told Citi managing directors to manage up less, a former Merrill executive who worked under him said Sieg was adept at it. Former Citi managing directorAdvertisementVahid's position will be taken by Kris Bitterly, the global head of investment products, in September. Mirroring tactics that supercharged Merrill, Sieg has changed Citi Wealth's compensation scheme to prioritize asset gathering, to the consternation of several employees.

Persons: Andy Sieg, Kevin Crain, Sieg, Crain, Jane Fraser, Fraser, Morgan Stanley, Merrill, Smith Barney, Ebrahim Poonawala, Wells, Mike Mayo, Brian Moynihan, Alex Wong, Moynihan, Fraser isn't, Mayo, anoint, Jamie Dimon, Jennifer Piepszak, Marianne Lake, Viswas Raghavan, Jane, He'd, George H, Bush, Bill Schreyer, Merrill Lynch, Dave Komansky, David Komansky, YOSHIKAZU TSUNO, Phil, Doug, Lord Abbett, David Poole, Citi's, there's, That's, Poole, Glenn Schorr, Jim O'Donnell, O'Donnell, Sieg's, Andy Sieg's, Naz Vahid, David Bailin, Bailin, Naz, Phil Waxelbaum, Vahid, Kris, Don Plaus, Keith Glenfield, Dawn Nordberg, Edward Jones, They're, Ernst & Young, he's Organizations: Merrill Wealth Management, Business, Citi, Bank of America, Morgan, BI, Merrill, Bank, Citigroup, JPMorgan, Harvard, Penn State, JPMorgan Advisors, United Arab, Citi . Citi, Work, Citi lifer, Former Citi, North, Citi Alliance, Citi Wealth, Bloomberg, Ernst &, Citizens Bank Locations: Sieg, Wells Fargo, Merrill, Bellefonte , Pennsylvania, Poole, Singapore, United Arab Emirates, Mexico, London, Aventura , Florida, Asia, Manhattan, North America

☆ McDonald’s pulls AI ordering from drive-thrus — for now
▼ + stars: | 2024-06-17 | by ( Erika Tulfo | ) edition.cnn.com time to read: +2 min

CNN —McDonald’s is pulling the plug on artificial intelligence ordering technology it was testing at more than 100 restaurant drive-thru systems in the US, a possible hiccup in the rapid rollout of AI in the fast food industry. The company had worked with IBM to develop and test AI-driven, voice-automated ordering at some of its restaurants. McDonald’s says this is not the end of its AI efforts. McDonald’s is not the only fast-food chain experimenting with AI. Other companies like White Castle tested out an automated drive-thru ordering system in 2021, and Wendy’s expanded its partnership with Google Cloud to roll out its own AI ordering tool in May last year.

Persons: it’s, ” McDonald’s, McDonald’s Organizations: CNN, IBM, McDonald’s, Google

☆ McDonalds is removing its AI drive-thru voice ordering system from over 100 restaurants after its mishaps went viral
▼ + stars: | 2024-06-16 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

McDonald's is removing its Automated Order Taker technology from over 100 restaurants. Videos showing flaws with the technology at McDonald's drive-thrus went viral in 2023. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . McDonald's told franchise operators on Thursday that it is removing AI order-taking technology from over 100 drive-thrus, marking the end of a test period conducted with IBM. This story is available exclusively to Business Insider subscribers.

Persons: —, McDonald's Organizations: IBM, Service, Business

☆ Soaring fast food prices encourage Big Mac junkies to cook at home
▼ + stars: | 2024-06-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Read previewAs fast-food prices continue to soar, Americans are looking for ways to get more bang for their buck. Like fast-food prices, grocery prices soared during the pandemic. But grocery prices are now largely back to pre-pandemic levels, while inflation at limited-service restaurants still remains elevated. When fast-food prices rise at a faster rate than grocery prices, consumers notice. He attributed this to the price increases at fast-food chains.

Persons: —, Chad Frye, Frye, Thomas Valentine, Jordan Sanchez, he's, Lawrence Milford's, Laxman Narasimhan, McDonald's, Danilo Gargiulo, Bernstein, John Furner, footfall —, Michael Siluk, Martin Jennings, Jennings, Brooks Ferrante, Ben Heyworth, it's Organizations: Service, Business, Walmart, Getty Locations: California, Arizona, Florida, Puerto Rican

☆ ‘Just too burnt out’: Child care crisis crunches providers
▼ + stars: | 2024-06-15 | by ( Meena Duerson | Tami Luhby | ) edition.cnn.com time to read: +7 min

Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. Facing a “child care cliff”The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. My First Adventure Child Care and Preschool serves 60 families but will close this summer.

Persons: Susan Elandt, ” Elandt, I’m, “ It’s, “, Elandt, what’s, ”, Lydia Higgins, Higgins, ” Higgins, she’s Organizations: CNN, Nationwide, of Columbia, US Bureau of Labor Statistics, The Century Foundation Locations: Waupaca , Wisconsin, Wisconsin, Waupaca

☆ I ordered the same meal at In-N-Out and McDonald's, and I preferred the juicier, cheese-coated burger
▼ + stars: | 2024-06-14 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

I tried the same order from In-N-Out and McDonald's to see which was the better meal and value. I preferred the thicker burger from In-N-Out over McDonald's smaller, but still tasty, burger. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . While In-N-Out is slowly expanding, it's still largely a West Coast chain, with around 400 locations in eight states and territories. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business Locations: West Coast, East

☆ Goldman sees price wars coming to restaurants and gives 6 stocks that can still thrive
▼ + stars: | 2024-06-13 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

But only a few restaurant brands that can hold on to their pricing will be able to come out on top, the firm said. Six popular stocks in the group were each given a buy rating: Chipotle , Domino's Pizza , Restaurant Brands International , Starbucks , Sweetgreen and Shake Shack . Cho placed a neutral rating on McDonald's , Yum Brands and Wingstop and a sell on Jack in the Box and Wendy's . The bank is also bullish on Restaurant Brands, owner of Burger King and Popeye's, which Cho noted is undergoing a business transformation. Another restaurant Goldman is bullish on is Domino's Pizza, which Cho believes has numerous catalysts that could lift the stock, including a newly revamped rewards program and an Uber Eats expansion.

Persons: Goldman Sachs, Christine Cho, Cho, Goldman, Chipotle, Wednesday's, Burger Organizations: Brands, Starbucks, Yum Brands, Restaurant Brands

☆ Cramer says the market can't broaden out due to uncertainty away from tech
▼ + stars: | 2024-06-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said it's no secret that the market rally has been driven by a handful of tech stocks, and it's not likely to change anytime soon. Cramer said companies like Nvidia , Apple , Microsoft , Alphabet , Amazon , Oracle and now Broadcom have been integral to the rally. But while tech stocks have been shining, Cramer said other sectors can't quite say the same. For instance, Cramer pointed to the banks, which often serve as a bellwether for the market. It's hard to know where the market would be without the tech sector, he added.

Persons: CNBC's Jim Cramer, it's, Cramer, It's, Huntington, Hunt Organizations: Nvidia, Apple, Microsoft, Oracle, Broadcom, Federal Reserve, Trucking, Norfolk, Norfolk Southern and Union Pacific, Molson Coors, Kraft Heinz, PepsiCo Locations: Norfolk Southern

☆ Sorry Grimace, McDonald's doesn't care about your birthday this year
▼ + stars: | 2024-06-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

McDonald's didn't care about Grimace's birthday this year. Grimace didn't get a happy birthday post on the chain's Instagram or TikTok and his special purple shake hasn't returned to US menus. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter spoiling him rotten last year, McDonald's has completely ignored Grimace's birthday in 2024. The McDonald's mascot made a comeback in 2023 when the burger giant released a limited-edition Grimace Shake to celebrate his birthday on June 12.

Persons: McDonald's, Grimace didn't, hasn't, — Organizations: Service, Business

☆ Tyler Boebert finally has a lawyer in his theft case
▼ + stars: | 2024-06-13 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Read previewLauren Boebert's teenage son, Tyler Boebert, has finally hired an attorney for his Colorado criminal theft case after months without any representation. Tyler Boebert had been without an attorney during his last two court appearances, first telling the judge that he was having trouble affording a lawyer. "I wish you'd turned in that application a little sooner," Neiley told Tyler Boebert at the time. But Tyler Boebert did not go with a public defender, after all. Police say Tyler Boebert was spotted in a Colorado store where a stolen credit card was used.

Persons: —, Lauren Boebert's, Tyler Boebert, William Trent Palmer, John Neiley, Neiley, you'd, Palmer, Tyler Boebert's, Boebert, Lauren Boebert, Donald Trump Organizations: Service, Business, Judicial, DA, WTP, Rifle Police Department Locations: Colorado, Garfield, Carbondale , Colorado, , Colorado, Rifle , Colorado, New York City

☆ 3 risks to global economic growth
▼ + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.

Persons: ” Indermit Gill, Jerome Powell, ”, Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing

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