Greece expects its economy to grow at little more than a third of the pace it originally targeted in its 2015 budget, a reform plan drafted by the finance ministry and released on Saturday suggested, raising fresh questions about its bailout. The government forecast economic growth at more than 0.8 percent this year, well below the 1.4 percent it estimated in a list sent to its international lenders in March and far off the 2.9 percent assumed in budget planning late last year. Prime Minister Alexis Tsipras left-led government, elected in January on a promise to ease the belt-tightening terms of the bailout, has been locked for months in talks with Greece's official creditors over a list of reforms to unlock funds. The 89-page plan appeared to be a broader outline of initiatives the government plans to take over the long term, rather than a specific list of reforms to secure financial aid immediately from the European Union and International Monetary Fund.
Alibaba Group Holding has taken a stake of more than 9% in U.S. e-commerce site Zulily, giving it new exposure to the American consumer market. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
By Andrew Osborn LONDON (Reuters) – Prime Minister David Cameron sealed a surprise election win by persuading Britons to choose the security of modestly rising living standards over an implausible pretender many feared could become the puppet of Scottish nationalists. Blending the promise of "the good life" fuelled by a strong economic recovery with fear of resurgent Scottish separatists calling the shots in a country they want to break up, Cameron steamrolled the opposition Labour Party and won his party's first outright majority in 23 years. "We've had a positive response to a positive campaign about safeguarding our economy," said Cameron, as if he had always expected to win so emphatically. Before it became clear he had won, some in his centre-right Conservative Party feared he had run a dull campaign that failed to shift apparently tied opinion polls.
An FDA advisory committee on Tuesday will consider whether to recommend approval of biotech Vertex’s experimental cystic-fibrosis drug, Orkambi. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
BEIJING (AP) — China’s inflation rate rose slightly to 1.5 percent in April, up from the previous month’s 1.4 percent, but still provides plenty room for monetary easing for the world’s second-largest economy, according to official data released Saturday.
Consumer inflation in China rose to 1.5 percent in April, authorities said Saturday, potentially easing concerns over deflation in the world's second-largest economy but below market forecasts. The rise in the consumer price index, a main gauge of inflation, released by the National Bureau of Statistics (NBS) was the highest since December, and a slight increase on March's 1.4 percent. Moderate inflation can be a boon to consumption as it encourages consumers to buy before prices go up, while falling prices encourage shoppers to delay purchases and companies to put off investment, both of which can hurt growth. Concerns about the risk of deflation in China have been on the rise especially after January's slump in consumer inflation to 0.8 percent, the lowest since November 2009.
A federal judge threw out the Federal Communications Commission’s request that major TV programmers make their contracts available to third parties for comment, lifting a hurdle that has delayed regulatory review of AT&T’s acquisition of DirecTV. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
(Adds comment from City Hall) By Stephen Eisenhammer RIO DE JANEIRO, May 8 (Reuters) – With less than 500 days until Rio de Janeiro hosts the Olympic Games, construction of several venues has not started and some major contracts have not even been tendered, setting the stage for a last-minute rush that will likely drive up costs. Rio 2016 may, though, end up being one of global sport’s closest calls yet, resulting in a race against time that would inevitably inflate the current 40-billion-real ($13.2 billion) price tag and add to the burden on Brazil’s struggling economy. At around this stage in the run-up to the 2012 London Olympics, almost 80 percent of venues and infrastructure had been completed. In Rio, only about 10 percent of 56 Olympic construction, overlay and energy projects have been finished.
McDonald’s sales edged down a less-than-expected 0.6% in April. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
U.S. employers resumed a solid pace of hiring last month and the jobless rate fell to 5.4%, priming the economy to snap back from a brutal winter. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml