Cheap oil weighing on global economy

Global growth will slow this year as oil exporters in the developing world struggle to cope with lower energy prices, the World Bank has said in its half-yearly economic health check. One excerpt:

"The World Bank is downgrading its 2016 global growth forecast to 2.4% from the 2.9% pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows."
» Full report here.

Also read more at the AP, the Guardian, FOX Business and the World Bank.

U.S. presses China to reduce barriers for foreign business

Senior U.S. officials pressed China again on Tuesday to reduce barriers for foreign businesses. "Concerns about the business climate have grown in recent years, with foreign businesses confronting a more complex regulatory environment and questioning whether they are welcome in China," U.S. Treasury Secretary Jack Lew told Chinese and American businesses and officials. Full story from Reuters, here.

Panama Papers show Cuba used offshore firms to thwart embargo

The Cuban government used the Panama law firm involved in the Panama Papers to create a string of companies in offshore financial havens that allowed it to sidestep the U.S. embargo in its commercial operations. [Source: Miami Herald]

Florida Supreme Court to decide if tracks win jackpot

A lawyer representing a north Florida race track told the state's highest court that the Republican-controlled Florida Legislature wanted to allow slot machines at dog and horse tracks across the state. [Source: AP]

Yellen speech indicates Fed will rethink interest rate plans

The Federal Reserve has abandoned hope of raising interest rates at its next meeting this month, but Fed officials say they are still thinking seriously about raising rates in July or September. [Source: New York Times]

ALSO AROUND FLORIDA:

› Sea lice outbreaks on the rise at Gulf Coast beaches [ABC News]
Seabather's eruption is an itchy rash caused by a nearly invisible marine pest known as sea lice, which lurks in warm oceans, including the Gulf of Mexico and the Caribbean during the summer. Severe cases can result in flu-like symptoms.

› Future pilots spread their wings at State College of Florida [Your Observer]
The State College of Florida’s Lakewood Ranch campus is taking flight. After successfully introducing a ground school program at the Venice campus, SCF is bringing its private pilot ground school course to Lakewood Ranch.

› Chinese volleyball tourney to bring $10 million economic impact to Broward [South Florida Sun-Sentinel]
A major tournament based on a fast-paced style of volleyball popularized by Chinese immigrants across the United States dating back to the 1930s is making its way to Broward County next year.

› Amazon Restaurants offers free one-hour delivery in Miami [Miami Herald]
On-demand restaurant service companies in Miami can chew on this: Amazon Restaurants is now their competitor. Amazon on Tuesday announced that its Prime members in Miami can now receive free one-hour delivery more than 60 local restaurants.

Go to page 2 for more stories ...

› How Some Businesses are Preparing for Hurricane Season [USGNN]
Hurricane season started officially last week, and some reports have as many as eight striking the U.S. in different geographic regions. This has companies in high-impact areas on alert for the major storms.

› Orlando city attorney named first woman president at GrayRobinson [Orlando Sentinel]
Mayanne Downs has been named president and managing partner at the GrayRobinson law firm, the first woman to take the reins at one of the state's largest firms.

› Higher Death Rates Around Daytona International Speedway [WUSF]
Men who live near the Daytona International Speedway have higher death rates than state averages, according to an analysis of health statistics from the Florida Department of Health.

› Multi-campus StartUP FIU gets ready for takeoff [Miami Herald]
The StartUP FIU program will include three hubs, with programs for food businesses, tech and social entrepreneurship, and will be open to the community as well as to students.