IMF Pulls Back U.S. Growth Forecast in 2014; Alibaba Closer to IPO Debut
Stocks end the day barely up for the second straight day. The dismal first quarter performance forced the International Monetary Fund to pull back its forecast for U.S. growth in 2014. The main culprit of poor performance in Q1 was the harsh winter weather, which shrunk the annual growth rate to around 1%. Alibaba is really close to its IPO debut. The Chinese internet commerce company unveiled the 27-member team that will lead the company to what could be the largest-ever IPO debut. Starbucks (SBUX) announced today that they would pay for its workers college tuition.The company has around 135,000 workers who are currently eligible to take advantage of this offer and earn a degree through Arizona State University's online program.
Word on the Street
- When will the next sell-off occur?
- China expected to create 1 million jobs for Americans.
- Economists turning pessimistic regarding U.S. economy.
- 14 IPOs scheduled to debut this week.
- 13 large companies that paid no taxes in Q1.
- Crude oil prices jumped up $0.47 a barrel.
- Medtronic (MDT) to acquire Covidien in $49.2 billion deal.
Published on Jun 16, 2014By InvestorGuide Staff