Gita Gopinath and Gian Maria Milesi-Ferretti during a news conference in Washington on Tuesday. Associated Press
Policymakers from the Group of 20 industrialised countries are worried that the weakness evident in key economies could spread, especially if elevated trade tensions, such as those between the United States and China, escalate further.
David Malpass, US President Donald Trump’s nominee to lead the World Bank, won unanimous approval from the institution’s executive board, continuing the 73-year tradition of an American running the world’s largest development lender. The bank said that Malpass, the US Treasury’s undersecretary for international affairs, will start his new role on Tuesday as the World Bank and International Monetary Fund
Trade tensions and the exchange of tariffs between the United States and China pose a «threat to the global economy,» the International Monetary Fund warned on Thursday.
Construction delays and cost blowouts could hit the next wave of liquefied natural gas (LNG) projects as there are a limited number of contractors able to handle the huge projects, three developers said.
Nissan Motor on Tuesday threw cold water on hopes for a quick fix to strained relations with France’s Renault, saying inequality between the partners could unravel their two-decade-old automaking alliance.
French business consultancy firm Capgemini agreed to buy engineering and digital services company Altran for 3.6 billion euros ($4.10 billion) to tap into the fast-growing engineering outsourcing services market.