Cnn business news 19 may 2019

Here are the top stories from CNN Business News on May 19, 2019:

Market News

• Dow Jones Industrial Average falls 200 points: The Dow Jones Industrial Average fell 200 points, or 0.7%, to 24,895. The S&P 500 index also declined, falling 0.6% to 2,744. The Nasdaq composite dropped 0.8% to 7,732.
• US-China trade talks to resume: The US and China have agreed to resume trade talks, with a meeting scheduled for next week. The talks aim to resolve the ongoing trade dispute between the two countries.
• Oil prices rise: Oil prices rose after the US Energy Information Administration reported a larger-than-expected decline in crude oil inventories. Brent crude oil rose 1.4% to $72.40 per barrel, while West Texas Intermediate crude oil rose 1.3% to $62.40 per barrel.

Economy

• US GDP growth slows: The US economy grew at a slower pace in the first quarter, with GDP expanding at an annual rate of 3.2%. The slowdown was attributed to a decline in consumer spending and a decrease in business investment.
• US unemployment rate falls: The US unemployment rate fell to 3.6% in April, the lowest level since December 1969. The labor market added 263,000 jobs, exceeding expectations.
• FedEx to cut 10,000 jobs: FedEx announced plans to cut 10,000 jobs, or about 3% of its workforce, as part of a restructuring effort.

Tech

• Apple to launch new iPhone: Apple is expected to launch a new iPhone with a triple-camera setup and a faster processor. The new iPhone is expected to be priced higher than the current iPhone XR.
• Amazon to launch new Echo device: Amazon is expected to launch a new Echo device with a built-in display, allowing users to make video calls and watch videos.
• Google to launch new Pixel phone: Google is expected to launch a new Pixel phone with a triple-camera setup and a faster processor. The new Pixel phone is expected to be priced higher than the current Pixel 3.

Business

• Walmart to acquire Cornershop: Walmart has agreed to acquire Cornershop, a Chilean grocery delivery company, for $225 million. The acquisition is part of Walmart's efforts to expand its e-commerce capabilities.
• Starbucks to launch new loyalty program: Starbucks is launching a new loyalty program that will reward customers for every dollar they spend, rather than just for every purchase.
• McDonald's to launch new menu items: McDonald's is launching new menu items, including a breakfast sandwich and a chicken sandwich, as part of its efforts to revamp its menu.

These are just some of the top stories from CNN Business News on May 19, 2019.