IMF: Global economic outlook slightly ‘less gloomy’ than expected

London CNN — The global economy will weaken this year as well rising interest rates and Russia’s war in Ukraine continues to weigh on activity. But economists are more optimistic than they were just a few months ago. The International Monetary Fund said Monday that it now expects global growth will slow from 3.4% in … Read more

US court rejects J&J bankruptcy strategy for thousands of talc lawsuits

Jan 30 (Reuters) – A US appeals court on Monday shot down Johnson & Johnson’s (JNJ.N) attempt to offload tens of thousands of lawsuits over its talc products into bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy with the potential to upend US corporate liability law. J&J is among … Read more

‘Surprisingly resilient’: IMF lifts global growth forecasts | International Monetary Fund

The International Monetary Fund (IMF) has raised its 2023 global growth outlook slightly due to “surprisingly resilient” demand in the United States and Europe and the reopening of China’s economy after Beijing abandoned its strict zero-COVID strategy. The IMF said global growth would still fall to 2.9 percent in 2023 from 3.4 percent in 2022, … Read more

Wagner defector sheds light on brutality in Ukraine

Oslo, Norway CNN — A former Wagner mercenary says the brutality he witnessed in Ukraine ultimately pushed him to defect, in an exclusive CNN interview on Monday. Wagner fighters were often sent into battle with little direction, and the company’s treatment of reluctant recruits was ruthless, Andrei Medvedev told CNN’s Anderson Cooper from Norway’s capital … Read more

Unilever names former Heinz exec Schumacher as CEO

To become CEO July 1 Activist shareholder says he met Schumacher when at Heinz First outsider CEO since Paul Polman appointed in 2008 Unilever shares outperform FTSE 100 LONDON, Jan 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July in a move that was welcomed by … Read more

Asia shares turn cagey as rate hikes, earnings loom Fed seen hiking 25bp this week, ECB and BOE by 50bp Tech giants lead host of earnings results China shares up as holiday travel surges SYDNEY, Jan 30 (Reuters) – Asian shares turned cagey on Monday ahead of a week that is certain to see interest rates rise in Europe and the United States, … Read more

Erdogan might approve Finland’s NATO bid, ‘shock’ Sweden

ISTANBUL (AP) — Turkey’s president has suggested his country might approve Finland’s application for NATO membership before taking any action on Sweden’s, while the Turkish government issued a travel warning for European countries due to anti-Turkish demonstrations and what it described as Islamophobia. The travel warning published late Saturday followed demonstrations last weekend outside the … Read more

Germany’s Scholz denounces ‘bidding war’ over jets for Ukraine | Russia-Ukraine war News

Chancellor’s comments follow repeated requests by Ukrainian politicians for fighter aircraft after battle tanks were pledged for the war against Russia. Chancellor Olaf Scholz has again pushed back against demands in Germany and from Ukrainian officials for fighter jets to repel Russia’s invasion, urging Western nations not to join a “bidding war” for sophisticated weapons. … Read more

Rheinmetall eyes boost in munitions output, HIMARS production in Germany

DUESSELDORF, Jan 29 (Reuters) – German arms-maker Rheinmetall is ready to greatly boost the output of tank and artillery munitions to satisfy strong demand in Ukraine and the West, and may start producing HIMARS multiple rocket launchers in Germany, CEO Armin Papperger told Reuters. He spoke days before Germany’s defense industry bosses are due to … Read more

World reacts to rising violence in Israel-Palestine conflict | Israel-Palestine conflict News

World leaders have called for calm amid rising violence in the occupied West Bank and East Jerusalem. On Thursday, Israeli forces killed nine Palestinians in the Jenin refugee camp during a raid. On the same day, a Palestinian man was shot dead by Israeli forces in the town of al-Ram, north of Jerusalem, marking one … Read more