Cnn business news 1 august 2019
Here are some of the top stories from CNN Business News on August 1, 2019:
Market News
- Dow Jones Industrial Average closes above 27,000 for the first time: The Dow Jones Industrial Average closed above 27,000 for the first time, driven by strong earnings reports from companies such as Procter & Gamble and Coca-Cola. The S&P 500 also hit a record high.
- US stocks rise as investors await Fed decision: US stocks rose on Wednesday as investors awaited the Federal Reserve's decision on interest rates. The Fed is expected to cut rates for the first time in a decade.
Economy
- US economy grows at 2.1% annual rate in Q2: The US economy grew at a 2.1% annual rate in the second quarter, according to the Bureau of Economic Analysis. This is down from a 3.1% growth rate in the first quarter.
- US jobless claims fall to 209,000: The number of Americans filing for unemployment benefits fell to 209,000 last week, the lowest level in four months.
Tech
- Amazon to launch new Prime Day deals: Amazon is set to launch its annual Prime Day sales event, which will offer discounts on a wide range of products.
- Google to invest $1 billion in Indian digital payments company: Google is investing $1 billion in Indian digital payments company Paytm, as part of a broader effort to expand its presence in the Indian market.
Business
- Coca-Cola to acquire Costa Coffee for $5.1 billion: Coca-Cola is acquiring Costa Coffee, the UK-based coffee chain, for $5.1 billion. The deal is expected to close in the first half of 2020.
- Procter & Gamble to acquire Billie, a women's razor company: Procter & Gamble is acquiring Billie, a women's razor company, for an undisclosed amount. The deal is expected to close in the fourth quarter of 2019.
International
- China's economy grows at 6.2% annual rate in Q2: China's economy grew at a 6.2% annual rate in the second quarter, according to the National Bureau of Statistics. This is down from a 6.4% growth rate in the first quarter.
- UK economy grows at 0.3% annual rate in Q2: The UK economy grew at a 0.3% annual rate in the second quarter, according to the Office for National Statistics. This is down from a 0.5% growth rate in the first quarter.
These are just some of the top stories from CNN Business News on August 1, 2019. If you're looking for more information or specific news stories, feel free to ask!