Business

Economists see sustained low growth, but no recession

Illustration: Aïda Amer/Axios

The Organisation for Economic Co-operation and Development (OECD) became the latest international economic organization to cut its global growth forecast, announcing Thursday that it's dropping expected growth to 2.9% this year, the slowest since the financial crisis.

Why it matters: The designation follows similar moves from the International Monetary Fund, World Bank and a slew of central banks and ratings agencies that slashed their estimations for the world's economic growth this year as data continues to worsen.

New York City is making Airbnb investors nervous pre-IPO

In this image, the Airbnb app is displayed on a smartphone.
The Airbnb logo on a tablet screen. Photo: Martin Bureau/AFP/Getty Images

Amid plans to go public in 2020, Airbnb is still sparring with New York City in its latest battle over illegally listed short-term rentals, Bloomberg reports.

Why it matters: Investors want the company "to sort things out with New York" before filing for its IPO, according to Bloomberg — but "Airbnb has been at odds with New York for almost its entire existence."