Cnn business news 27 may 2019
Here are some of the top stories from CNN Business News on May 27, 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 on Monday, driven by strong earnings reports from companies such as Procter & Gamble and Coca-Cola. The S&P 500 also hit a record high.
- Stocks rise as investors shrug off trade tensions: Despite ongoing trade tensions between the US and China, stocks rose on Monday as investors focused on strong earnings reports and economic data.
Economy
- US economy adds 223,000 jobs in May: The US economy added 223,000 jobs in May, according to the Bureau of Labor Statistics. The unemployment rate remained at 3.6%, a 50-year low.
- Walmart to raise minimum wage for US employees: Walmart announced that it will raise the minimum wage for its US employees to $12 per hour, effective July 1.
Tech
- Facebook to launch cryptocurrency called Libra: Facebook announced plans to launch a new cryptocurrency called Libra, which will be backed by a reserve of assets and will be available to users in the US and other countries.
- Google to invest $1 billion in Chinese e-commerce company JD.com: Google announced that it will invest $1 billion in Chinese e-commerce company JD.com, as part of a broader effort to expand its presence in the Chinese market.
Business
- Boeing to pay $100 million to families of Ethiopian Airlines crash victims: Boeing announced that it will pay $100 million to the families of the victims of the Ethiopian Airlines crash, which was caused by a faulty sensor on the company's 737 Max aircraft.
- McDonald's to test self-service kiosks in US restaurants: McDonald's announced that it will test self-service kiosks in some of its US restaurants, as part of a broader effort to improve customer service and reduce labor costs.
International
- UK economy contracts for first time since 2012: The UK economy contracted by 0.4% in the first quarter of 2019, according to data from the Office for National Statistics. This is the first contraction since 2012.
- China's economy grows at slowest pace in 27 years: China's economy grew at its slowest pace in 27 years in the first quarter of 2019, according to data from the National Bureau of Statistics. The country's GDP grew by 6.4% year-over-year.
These are just a few of the top stories from CNN Business News on May 27, 2019. If you're looking for more information or specific news stories, feel free to ask!