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IMF foresees 3.5% global economy growth in 2017

For 2018, it retained its earlier prediction of 2.8 percent. Inflation is expected to climb from the present uncomfortably low rate of 1.5 per cent to 2 per cent this year and 2.6 per cent in 2018. Protectionism, is no. 1 risk for the International Monetary Fund, as an inward shift in policies, including toward protectionism, could lower global growth as trade and cross-border investment flows would be reduced.

Business

Exxon Won't Say If It's Seeking a Waiver From Russia Sanctions

An Exxon spokesman said the company declined to comment on ongoing issues. The European Union is granting sanctions waivers to its own companies, including Italian oil company Eni, to explore cooperation with Russian Federation in the Black and Barents Seas, even while the sanctions freeze out USA firms.

Business

1MDB and IPIC agree on arbitration settlement

Under an agreement reached at the London Court of International Arbitration, 1MDB will also assume responsibility for all future interest and principal payments on the bonds issued by its units that were guaranteed by IPIC. IPIC is seeking $6.5 billion from 1MDB and took the case to the LCIA last June but both companies have been trying to thrash out a private settlement since then, Reuters report said.

Business

Kenny G. makes dreams and nightmares come true with midair performance

In a month of awful news for airlines, it's nice to know you can count on Kenny G to bring some good back in the world. Delta Airlines was the host to an impromptu jazz concert after funds were raised onboard the flight to the tune of $2,000.

Business

American Airlines Apologizes After Video Shows Tense Moments With Flight Attendant

An employee comes into the frame and the male passenger says, "You do that to me and I'll knock you flat". According to reports, the airline attendant tried to get the double sized stroller, which got tagged by employees at gate check-in when the brawl broke between the attendant and the passenger.

Business

France begins presidential vote in test for populism

Choosing inside the system is no longer an option for French voters, who rejected the two mainstream parties that have alternated power for decades in favor of Le Pen and the untested Macron, who has never held elected office and who founded his own political movement just past year.

Business

Foreign Buyers to be Taxed in Ontario

Sousa has spoken frequently in recent weeks about going after speculators, those who buy a home in the hope of turning a profit rather than to live in. Wynne said she would not rule out other measures if she sees the need. Ontario also plans to allow municipalities, led by Toronto, to slap their own tax on vacant properties.

Business

Macron, Le Pen on course for French runoff as Fillon concedes

With almost 90 percent of the vote in, Macron had almost 24 percent of the vote, followed by Le Pen at around 22 percent. Le Pen has also proposed a referendum on France's membership in the E.U. "I want to be the president of all the people of France", he said. SUAREZ: The projections only separate Macron and Le Pen by a few points. Riot police had to use tear gas to disperse protesters in Paris.

Business

Oil markets on path to recovery due to Opec deal

The EIA (U.S. Energy Information Administration ) reported that USA gasoline inventories rose by 1.5 MMbbls (million barrels) to 237.7 MMbbls on April 7-14, 2017. Futures touched $51.43, the lowest since April 6. Oil prices are on pace for their biggest daily percentage decline since early March, and US crude oil production is expected to rise in both 2017 and 2018.

Business

Oil prices mixed in choppy trade, rising U.S. production weighs

Oil's rally has faltered after three straight weekly gains on expectations the Organization of Petroleum Exporting Countries and its allies will extend its supply reductions. The International Energy Agency said last week that the compliance with the agreement among OPEC members and some non-members, including Russian Federation, "has been impressive", giving a lift to oil prices.

Business

Model S, Model X Cars Recalled Over Parking Brake Problems

While it may be true that only 5 percent will have the problem, Tesla has explained that it's almost impossible to tell which vehicles will be affected by the damaged gear. Tesla is planning on manufacturing half a million on the Model 3 by 2018 and 1M by 2020. The faulty part was supplied by a unit of Italian manufacturer of automotive brake systems Brembo S.p.A.

Business

RIL Q4 profit expands 12.3 pc on higher refining margins

The company also reported growth of 65.6 percent in PBDIT at Rs 366 crore for the fourth quarted ending March 31, 2017 as compared to the same quarter a year ago at Rs 221 crore. Reliance Jio had total assets of Rs 2,00,888 crore, total equity of Rs 70,864 crore and total liabilities of Rs 1,30,024 crore. Refining EBIT margins were down at 9.8 per cent for the quarter, compared with 15.8 per cent in the same quarter past year.

Business

Gasol's jumper with 0.7 seconds left in OT lifts Grizzlies

Tune in to Game 5 on Tuesday to see if the Memphis Grizzlies can steal one in San Antonio. Conley, who signed a five-year, $153 million contract last summer in what was the richest deal in the National Basketball Association at that point, also had a career game, finishing with 35 points for a Grizzlies postseason record.

Business

US Treasury won't waive Russian Federation sanctions for oil companies

Exxon Mobil has applied to the U.S. Treasury for a waiver from sanctions against Russia, to resume a landmark oil and gas drilling venture with Russian firm Rosneft, the Wall Street Journal is reporting. The company sought to resume oil drilling in several areas of the Black Sea banned by United States sanctions on Russian Federation. A Treasury Department representative said the department would not comment on individual licenses or waiver requests.

Business

Frontrunners Macron, Le Pen vote in French election

Voting was brisk on a bright spring day, defying forecasts of a low turnout after a campaign dominated by scandals and disillusionment with the mainstream parties of the left and right that have alternated in power for the past half century.

Business

United Airlines changes employees check-in policy after passenger's forcible removal

United Continental Holdings Inc has changed its policy on employee travel and will now ensure crew members riding on its aircraft as passengers are booked at least 60 minutes before departure, according to a statement from the company. After no one volunteered, the airline's crew chose seats at random to rebook on another flight. Three other passengers eventually agreed to leave, but Dao insisted he needed to return home to care for patients.

Business

President Trump to hold rally on night of White House Correspondents Dinner

The rally comes on the 100th day of Trump's presidency, a key yardstick by which presidents are historically judged on their legislative achievements. Comedian Hasan Minhaj of the Comedy Central's " The Daily Show " will be the featured performer at the dinner. Mr Trump would not concede that point, but he did acknowledge that being commander in chief brings with it a "human responsibility" that he did not much bother with in business.

Business

Retailer Jimmy Choo puts itself up for sale

The much-loved fashion brand is seeking potential offers and exploring options for the company's future. Shares have been on a bumpy ride since the company's initial public offering in 2014. But in 2015, JAB folded Italian leather-goods brand Zagliani into Bally, leaving its upscale motorcycle-jacket maker Belstaff as its only other luxury holding.

Business

Oil is steady but set for big weekly decline

Analysts broadly think that oil prices will rise further this year if the deal holds. Oil prices tumbled Friday on renewed concerns that increasing USA production and inventory will offset leading Gulf crude producers' production cut efforts.

Business

Analysts At Stifel Reiterated Vernalis PLC (LON:VER) As Hold

The Company acts as an intermediary in the wholesale over-the-counter and exchange traded financial and commodity markets, facilitating the trading activities of its clients, in particular commercial and investment banks. After $0.17 actual earnings per share reported by Vereit Inc for the previous quarter, Wall Street now forecasts 5.88% EPS growth. It has underperformed by 16.16% the S&P500.

Business

Millions vote in Delhi civic polls amid EVM glitches, despite scorching heat

The 2012 MCD polls had registered a 53.23 per cent turnout. The Aam Aadmi Party (AAP) had been demanding that the elections be postponed till voter-verified paper audit trail (VVPAT)-fitted EVMs are made available. Lieutenant Governor Anil Baijal, Chief Minister Kejriwal, Deputy Chief Minister Manish Sisodia Delhi Congress president Ajay Maken and Delhi BJP leaders, including union Ministers Dr Harsh Vardhan, Vijay Goel, Delhi BJP president Manoj Tiwari, Lok Sabah members Meenakshi Lekhi, ...

Business

Muller Slams Champions League Officials: It Was 10 Against 14

I have a lot of confidence in the players, even more so after the game in Madrid . The Madrid police made this statement about their plans for the match prior to kick-off, after their declared the game a "high risk" fixture. "There is only one way to win the Champions, which is to keep insisting, insisting and insisting again". "For the first time, I've got some sort of mad rage inside me, because we had a shafting".

Business

Scottish Cup semi final: Rangers 0-2 Celtic

They were then forced into a change when Dembele pulled up with a hamstring injury and signalled his game was up; Leigh Griffiths replacing the £100-billion rated phenomenon. In the first half we kept the ball and they created no chances and we could have scored two or three. "By respecting the opponent we dropped off too much on the park - it was not what we preparing for during the week", said Caixinha.

Business

International Monetary Fund lowers 2016-17 growth forecast for Egypt to 3.5 percent

The report was released just a day after China's announcement that its economy grew a robust 6.9 percent in the first quarter of this year. The corresponding report in October 2016 estimated that the Cyprus economy's growth would reach 2.8% and to 2.2% in 2017.

Business

PM Modi bats for simultaneous elections, changing fiscal to January- December

Currently, India follows April-March as fiscal year. He said the meeting today would be an opportunity to exchange views on policies and implementation. Thanking the Chief Ministers, he said consensus on GST will go down in history as a great illustration of cooperative federalism. The government's three-year action agenda, a replacement of the Nehruvian-era five-year plan - pegged as the next replacement to the decades-old five-year plans - may take time to come into effect.

Business

GM to launch 10 electric cars in China by 2020

Mizuno added that plug-in hybrid models would likely follow, but did not say when that auto might hit the market in China. Worthington added Ford meant to bring to market what Chinese officials call "new energy vehicles" in a cost efficient way.

Business

Theresa May accused of 'opportunism' over election by EU Brexit negotiator

Labour is expected to be crushed by the Tories in the June election, with the latest polls showing Labour trailing by 24 points. Mrs May said she would not take part in any televised leaders' debates, leading to criticism from Mr Corbyn and other party leaders she was "running scared".

Business

Immigration Minister denies changes to Australian citizenship is a crackdown on Muslims

And there is no wait for the changes to kick in. "I am sure the new norms will shorten the queue for genuine applicants like me", she added. He said citizenship would only be granted to those who supported Australian values , respected the country's laws and "want to work hard by integrating and contributing to an even better Australia".

Business

Exit polls predict victory for BJP, drubbing for AAP in Delhi

Voting at some polling stations in North Delhi's Burari area and South West Delhi's Kapashera areas had to be stopped for a few minutes after complaints of malfunctioning of the EVMs were reported from there. ABP-C Voter claimed that the BJP will get 218 out of 272 seats while the AAP would get only 24 and Congress 22, which was hoping to make a comeback. Meanwhile, an exit poll showed Bharatiya Janata Party (BJP) - that has ruled the capital's three municipal bodies for the last 10 years - ...

Business

As Toronto weighs housing tax, prices in Vancouver are creeping up again

After two consecutive years of double-digit gains, the price of an average house in Toronto jumped to C$916,500 ($925,600) last month, a 33 per cent increase on the year-earlier month; the average price of a detached home topped C$1.2 million.

Business

Macron wins first round of French presidential election

It is the first time in modern French history that no major-party candidate has advanced to the presidential runoff. Unpopular incumbent President Francois Hollande , who pledged past year not to stand for re-election, voted in his political fiefdom of Tulle in Correze, southwestern France.

Business

Corbyn 'planning to dismantle' UK defences

Shadow Transport Secretary Andy McDonald last night insisted it was the "first duty" of government to protect the country, adding: "We will not demure from that one iota". He said that Mrs May is on course for a "steamroller" election victory. The Labour leader also refused to rule out cancelling the programme if he becomes Prime Minister, saying he would order a review that would "include all aspects of defence".

Business

Protestors clash with police in France over election results

Several voters told AFP they had voted tactically in a bid to keep the far right out of power. "Macron bills himself as the progressist versus conservatives, Le Pen as the patriot versus the globalists". Police intervened and stopped the commotion minutes before the 48-year-old arrived to cast her ballot in the northern town of Henin-Beaumont. France is now steaming into unchartered territory, because whoever wins on May 7 can not count on the backing of France's political mainstream parties.

Business

Kathleen Wynne's Housing Plan Will Create Slums and Won't Solve Affordability Issues

Wynne stressed that the changes are being made to calm the frenetic market and establish fairness for those trying buy a home. That kind of tax would discourage speculation and make it more expensive to "flip" homes, he said. The 15 percent levy will apply to non-Canadian citizens, non-permanent residents and non-Canadian corporations buying residential properties containing one to six units in the greater Toronto area, the provincial government said in a statement Thursday.

Business

The real world of crude oil has a warning for financial markets

Khalid Al-Falih, Saudi Arabia's oil minister, told journalists on Thursday that the OPEC and other major suppliers have not achieved their aim of reducing oil inventories below the five-year historical average. Joint compliance among OPEC and non-OPEC in March was above 90 per cent, he said. Talking about shale, Emirati Energy Minister Suhail al-Mazroui said producers involved in the cut made the decision "because we care about the balance in the market".


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