IMF sees weaker global economy amid tensions

The International Monetary Fund is downgrading its outlook for the world economy because of simmering international trade tensions.

But at the same time, the fund is boosting its forecast for U.S. economy this year, citing expectations that the Federal Reserve will cut interest rates.

The IMF said Tuesday that it expects the global economy to expand by a “sluggish” 3.2% in 2019, down from 3.6% in 2018 and from the 3.3% growth it forecast for this year back in April. The 189-country lending organization blamed the lackluster growth on heightened trade tensions and specifically a tariff war between the world’s two biggest economies, the United States and China.

The fund said it expects the U.S. economy to grow 2.6% in 2019, down from 2.9% last year but up from the 2.3% it forecast in April.

Dealership chain Autonation names Miller as new CEO

Four months after the country’s largest auto dealership chain named a new chief executive to replace its longtime CEO, it’s making another change at the top.

Chief Financial Officer Cheryl Miller is the new CEO at Autonation, replacing Carl Liebert, who is departing in a mutual agreement with the board.

CEO Mike Jackson stepped down in March after leading Autonation for 20 years and named Liebert, was brought in from outside the auto retailing industry, as his replacement. Liebert had been chief operating officer at the financial services company USAA and had worked as an executive at The Home Depot and General Electric.

Miller has been with the Fort Lauderdale, Florida, company since 2009 and has been CFO since 2014.

New owner plans upgrades for Amberly Square apartments

Steele Properties, a Denver-based investor specializing in affordable housing, has bought the Amberly Square apartment complex at the southeast corner of Noe Bixby and Refugee roads.

In a news release, Steele said it plans to spend $17.7 million buying and renovating the 112-apartment complex, which was built in 1971.

Steel said it expects to spend about $44,000 on each apartment for new kitchens and bathrooms, new flooring and new lighting, in addition to improvements to the complex such as new roofs, façade upgrades, a renovated community room and an remodeled laundry room.

Amberly Square serves Section 8 tenants in eight, two-story buildings.

Alibaba to allow some US companies to sell on website

China’s e-commerce juggernaut Alibaba will allow small and mediumsize U.S. businesses to sell on Alibaba.com.

U.S. businesses, until Tuesday, were only able to buy merchandise on the platform.

Alibaba is looking to juice its growth, which has been held in check by Amazon and threatened by trade tensions between the U.S. and China.

Alibaba says the platform has 10 million active business buyers in more than 190 countries and regions. One third of the order volume is from U.S. businesses, says John Caplan, president of North America B2B and globalization at Alibaba Group.