McKee Foods, which acquired Drake cake products from Hostess six years ago, is adding new Drake’s Starlight Brownies to its snack cake offering menu.
The Collegedale-based bakery said the new rich fudge brownies are topped with chocolate-flavored fudge icing and white candy-coated chocolate chips that look like a starry sky.
“Drake’s fans told us they would love to see a brownie from their favorite brand,” said Chip Stenberg, Drake’s associate brand manager. “We’re happy to delight them with new Starlight Brownies and an out-of-this-world flavor experience.”
As with all Drake’s products, Starlight Brownies are certified kosher by the Orthodox Union.
UN lowers forecast for global economy
The U.N. says it is lowering its forecasts for global economic growth in 2019 and 2020 as a result of high trade tensions, uncertainty over economic policies and softening business confidence.
In its mid-year report Tuesday on economic prospects, the U.N. said that following an expansion of 3% in 2018, the world economy is now projected to grow 2.7% in 2019 and 2.9% in 2020. U.N. officials had projected 3% growth for both years in its January forecast.
The new report says the growth outlook in all major developed countries and most developing regions has weakened due to both domestic and external factors.
U.N. chief economist Elliot Harris says that “more comprehensive and well-targeted policy responses are needed to tackle the current growth slowdown.”
Delay in Huawei ban allows for adjustment
The United States is delaying some restrictions on U.S. technology sales to Chinese tech powerhouse Huawei in what it calls an effort to ease the blow on Huawei smartphone owners and smaller U.S. telecoms providers that rely on its networking equipment.
The Trump administration insists the sanctions are unrelated to its escalating trade war with China, and many analysts see it as aimed at pressuring U.S. allies in Europe to accede to Washington’s entreaties to exclude Huawei equipment from their next-generation wireless networks, known as 5G.
Home sales dip 0.4% in April
U.S. home sales slipped 0.4% in April, as would-be homebuyers face affordability challenges and a limited supply of starter houses.
The National Association of Realtors said Tuesday that existing homes sold at a seasonally adjusted annual rate of 5.19 million last month, down from 5.21 million in March.
Home sales have struggled despite the solid job market and lower mortgage rates, conditions that are usually favorable for buyers. The jobless rate has fallen to a five-decade low of 3.6%, while the average 30-year mortgage rate has declined to 4.07% from 4.61% a year ago. But buyers are grappling with home prices that have consistently risen faster than wages for much of the past seven years, while construction and sales listings have not responded to pent-up demand from would-be buyers.
“The economy in April enjoyed a robust labor market, strong consumer sentiment and low mortgage rates – and was untouched by subsequent trade tensions with China,” said Matthew Speakman, an economic analyst with the real estate company Zillow. “Yet an inventory shortage persists, with a greater share of listings reporting price cuts and, in some months, sitting on the market longer, indications that the pace of existing home sales may continue to suffer or possibly recover slowly going forward.”