BUCHAREST, Romania >> The World Bank says people in Europe and Central Asia remain worried about job security despite modest economic growth.
The bank’s chief economist for Europe and Central Asia, Hans Timmer, said Tuesday that the region’s economies are expected to grow 1.6 percent this year, with similar growth levels in 2017 and 2018.
However, the bank says people are worried that many of the new jobs are temporary and part time, and the skills required are “driven by new digital technologies.”
Dr Pepper purchasing Bai for $1.7 billion
NEW YORK >> Dr Pepper Snapple Group will pay $1.7 billion for Bai Brands, a fruity-drink maker that counts pop star Justin Timberlake as an investor.
It said Tuesday that Bai will help the company expand into the low-calorie beverage market. Bai markets its drinks as having 5 calories, antioxidants and no artificial sweeteners. Dr Pepper Snapple’s brands include its namesake Dr Pepper soda, A&W root beer and Canada Dry ginger ale.
Lufthansa unit workers stage 15-hour strike
BERLIN >> Cabin crew at Lufthansa’s budget unit Eurowings launched a 15-hour strike Tuesday, causing dozens of flight cancellations, as the German carrier warned customers to prepare for a larger walkout by pilots today.
The Cockpit union announced Monday that pilots of all short- and long-haul flights out of Germany will go on strike in a dispute over pay.
The airline said Tuesday that due to the strike, 876 of 3,000 LH Group flights had to be canceled. It said about 100,000 passengers would be affected, including on 51 intercontinental connections.
Medtronic profit surges but misses forecast
NEW YORK >> Medtronic PLC’s fiscal second-quarter profit more than doubled on higher sales of its heart and surgical devices. But revenue fell short of Wall Street expectations, helping to drag shares lower.
The medical device company earned $1.12 billion, or 80 cents per share. Earnings, adjusted for unusual costs, came to $1.12 per share. The results topped Wall Street expectations, with analysts surveyed by Zacks Investment Research anticipating earnings of $1.11 per share.
ON THE MOVE
The Hawaii Dental Association has elected Christopher C. Lee president. Lee previously served as a board member and has been a member of the organization for 15 years.
