Global Glance: World Bank downgrades economic forecast, Clinton seizes primary win

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Here are today’s top business headlines from across the nation and world:

World Bank downgrades its forecast for 2016 global economy

WASHINGTON (AP) — The World Bank is reducing its forecast for the global economy this year – again. The aid agency predicted Tuesday that the world economy will expand 2.4 percent this year, down from the 2.9 percent it expected in January and unchanged from a tepid 2015. Read more


Clinton seizes historic primary win

NEW YORK (AP) — Powered by a solid triumph in California, Hillary Clinton declared victory in her yearlong battle for the heart of the Democratic Party, seizing her place in history and setting out on the difficult task of fusing a fractured party to confront Donald Trump. Read more


Ralph Lauren is closing stores, cutting jobs as sales slump

NEW YORK (AP) — Ralph Lauren is closing stores, cutting jobs and focusing more on its most popular brands to try to reverse its declining fortunes. The changes are the first big moves from CEO Stefan Larsson, who replaced company founder Ralph Lauren in the role late last year. Read more


TSA chief says progress being made to shorten lines

WASHINGTON (AP) — Significant progress has been made on shortening screening lines since earlier this spring, when airlines reported thousands of frustrated passengers were missing flights, the head of the Transportation Security Administration said Tuesday. Over the busy Memorial Day weekend, 99 percent of passengers at U.S. airports waited less than 30 minutes and 93 percent waited less than 15 minutes in regular security lines, Peter Neffenger told a hearing of the Senate Homeland Security and Governmental Affairs Committee. Read more


Muhammad Ali wasn’t always ‘The Greatest’ at sponsorships

NEW YORK (AP) — Muhammad Ali was one of the greatest athletes of all time, but he didn’t cash in during his prime the way you’d expect today. Product endorsements deals for the boxer were scarce, and in fact his most notable commercial during his earlier years was for a roach trap. Read more


Keurig nixes Kold machine, will lay off 130 employees

NEW YORK (AP) — Keurig Green Mountain is discontinuing its Kold home soda machine after less than a year on the market and will lay off 130 workers. The company said Tuesday it’s offering customers refunds for the full purchase price. The home soda-making machine debuted last fall to questions about its affordability for the average consumer. Read more


Language barriers, fear heighten woes in Flint water crisis

FLINT, Mich. (AP) — Struggles have been acute for members of some of this city’s Spanish-speaking households, who say it took several months to learn about the water problems and the need for filters. State officials said there are no Spanish language print media or radio outlets in Flint devoted to news. What’s more, some people in the country illegally have been afraid to provide information to anyone in exchange for water or other basic help lest they be deported or questioned by law enforcement officials. Read more

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