the international monetary fund keeps its forecast for world economic growth.t cuts prospects for the uk and the us, while china, japan and the eurozone gets a boost. welcome to world business report. i'm ben bland. also in the programme, we'll learn the success secrets of another ceo. but first, later on monday the uk's trade secretary liam fox will be in washington to discuss a preliminary trade deal ahead of britain's departure from the european union. a final trade agreement cannot be signed until the uk formally leaves the eu, but the two nations are keen to lay the foundations for what the us president expects to be "a very, very big deal". in an interview with the bbc, mr fox said that uk—us trade is currently worth nearly 220 billion dollars. but this could increase by as much as 52 billion dollars if trade barriers between the countries are removed. for now though, that process can't really begin because the uk is not allowed to hold formal trade talks with non—eu countries until it has left the european customs union. to complicate matters, the uk's t

. >> let's see if we can get a hold of that report about the international monetary fund. has revised up its growth projections for the eurozone, china and japan. >> global growth recovery is on track. the international monetary fund says its growth forecast for the world economy remains unchanged for 2017. 3.5 percent. the outlook for several eurozone economies is brighter than expected with spain and italy seeing the biggest revisions. the spanish economy is now forecast to grow by 3.1% this year, up from 2.6%. projections have risen overall. the eurozone is expected to grow by 1.9% in 2017 from 1.7% in what the imf said was evidence of stronger momentum in domestic demand. china's growth projections have also been revised up. beijing's economy has become too dependent on domestic credit. higher growth is also expected in japan. u.s. areand the forecast to grow more slowly than previously predicted. the american economy is expected to grow by 2.1% down from an earlier prediction of 2.3%. reflecting uncertainty about fiscal policy changes under president donald trump. bri

liberalism joining me via skype is thomas a burns who has held high level positions of the international monetary fund the world bank the o.e.c.d. and the government of canada he's a distinguished out of the center for international governance innovation and joins me from the g. twenty in hamburg thomas welcome to going underground you've followed these supernational organizations of summits for decades has ever been business as usual as we see riot police and demonstrators gather in hamburg. well i must say i've i've never seen a summit where expectations of being so uncertain or unclear the demonstrators are one thing but more importantly on the substance of the debate we're saying over the questions of climate control environment and on trade protectionism really are potentially a retreat from where the g twenty has been and so that. we're looking at either no progress or well being backward which is is quite worrisome you mentioned climate change surely china probably arguably happy that trump has reneged on paris because it will help chinese climate change technologies well i think china does sta

backin back in april, the international monetary fund forecast growth this year of 2%. monetary fundf 2%. in monetary fund forecast growth this year of 2%. in an updated assessment of the global outlook, the new figure for the uk is i.7%, somewhat slower. you may remember, in the days ahead of the referendum last you, the imf was well known, some may say notorious, for having warned of adverse economic consequences if the uk left the eu. you may wonder if this downgrade is connected with that. the imf says it is due to the wea k start that. the imf says it is due to the weak start the british economy got off to abba star of the year, with growth in the first three months of 0.2%. having said that, bbc radio 2 is told this morning that they maintain their view that over time it is likely to be negative for the british economy if we do leave. looking ahead to next year, the forecast is i.5%, so that is somewhat lower again. turning to the global outlook, the phrase the imf uses global outlook, the phrase the imf usesis global outlook, the phrase the imf uses is "a firming recovery" wit

may reverse some of its stimulus programs but the international monetary fund is urging a pause on turning away from its so-called easy money policy citing a lower than hoped for rate in a rise of consumer prices one point six percent inflation is projected by the i.m.f. in its annual report on the eurozone with a slowdown of one point five percent in two thousand and eighteen. and german car manufacturing giants are accused of colluding to cheats emissions tests and then put millions of their vehicles on the road with full use of the fuel according to german magazine der spiegel it may have gone on for decades and what began two years ago as an accusation against volkswagen emissions test cheating has spread now to die more b.m.w. . audi and porsche brands the german cartel office has said in a statement that it can't actually comment on ongoing investigations like this the industry is one of germany's largest employers and it's a representative of the country's impeccable engineering shares of b.m.w. v.w. and fell on this news billions have been paid in fines to the u.s. and european aut

strongest upswing in a decade, thanks largely to growth in global trade, according to the international monetary fund and britain for 2018. that story is in the business times. china will protect its borders at all costs, leads the south china morning post, the strongest warning yet from beijing to india over a month—long territory dispute in the himalayas. the row erupted after indian troops tried to stop chinese soldiers from building a road in an area claimed by both china and bhutan, india's long—time ally. the philippine star covers president rodrigo duterte's second state of the nation address. he warned his controversial war on drugs will be unrelenting, and defended imposing martial law to tackle an islamist insurgency on the island of mindanao. dominating most of the papers in the uk this morning, including the independent, is the heartbreaking decision by the parents of the terminally ill baby charlie gard to end their legal battle to keep him alive. and the daily telegraph warns consumers who buy internet—enabled devices such as televisions and refrigerators are potentially leaving themsel

the next decade could bring major changes to the international monetary fund, including moving its headquartersto beijing. the managing director, christine lagarde, said the move is a possibility because the imf wants to increase representation of emerging markets that become more influential and get larger. it has been based in the us since it was established in 1945. being the first employee at skype can be an oppressive thing to have on a regimen. he has since gone on to become an adviser to the prime minister of estonia. he has also build up transfer, an on line remittance service which has built up remittance service which has built up more than $1.5 billion. what led him to his latest venture? it was during skype that i realised how banks are undeserving and overcharging customers for many services, including transferring. i realised it was a problem that needed to be fixed and i found a better way of doing it. i realised hundreds of millions of people around the world would benefit. big established names in this business include western union and moneygram. how do you compete? we are bas

earlier this week, the international monetary fund warned that weaker economic activity means both theuk will expand more slowly than expected this year. however, in the numbers due out this morning, economists are expecting the uk's growth rate will have risen slightly in the last three months to 0.3%. following the brexit vote, the pound fell. this put pressure on prices — last month inflation stayed above the bank of england's 2% target rate. and higher prices, partly from imported goods, are having an impact on consumer spending. according to visa, household expenditure fell 0.3% last month, the lowest figure in almost four years. but government figures suggest uncertainty isn't deterring investors. the uk continues to be the top investment location in europe, with more than 2,200 new foreign direct investment projects announced in the last year — that's 2% up on the year before. and on tuesday bmw announced it had chosen 0xford as the location of where it will build its new fully electric mini. with me is dean turner, an economist at ubs wealth management. thank you for coming in.

spot looks as though it will be the eurozone with growth expectations bumped up by the international monetary fund, although the uk and brexit effect continues to look challenging. we got a downgrade for 2017, some stabilization for 2018. back to you now. >>> second quarter earnings after the bell, revenue seen growing to $25 billion by continuing strength in advertising. the eu $2.7 billion fine could overshadow numbers, cutting forecasts in half. i am joined onset to talk through this welcome. tell me what should we expect? what are you most focused on in terms of earnings and the call today? >> we're going to look at the impact of this fine. average analyst expectation of $4.46, that's versus $7 in the last you can see the impact it is pocket change for alphabet small amount of money for the company. but we are expecting to hear more clarity about what this means to the business in europe, whether they might have to change how they present shopping comparisons on the google page in europe, if that will have material impact on advertising revenues which is what we are focused on not so much abou

it was fiscal policy that had the international monetary fund downgrading america's growth prospectsteverfiscal policy does get made may not be as growth boosting as previously hoped for. the continuing saga of repealing and replacing obamacare has had a cascading impact on president trump's legislative priorities, reforming this country's compensated tax code, and passing on billion—dollar spending bill, with things that would have a direct impact on america's economic growth. but the likelihood of getting either of those two things anywhere close to the president's desk is looking highly unlikely. let's go to asia now, where coffee giant starbucks is splashing out in china. it is buying out its eastern chinese partners, spending $1.3 billion on the 50% of the business it doesn't already own. it's the biggest deal starbucks has ever done. what has been the reaction to this announcement? quite a bit, reason why they are doing really is because china is starbucks's fastest—growing market outside the us a number of stores, the deal will really help the company reach its target of opera

it was fiscal policy that had the international monetary fund downgrading america's growth prospects‘s opinion, whatever fiscal policy does get made may not be as growth boosting as previously hoped for. the continuing saga of repealing and replacing 0bamacare has had a cascading impact on president trump's legislative priorities. reforming this country's complicated tax code, and passing a $1 billion spending bill, those things that would have a direct impact on america's economic growth. but the likelihood of getting either of those two things anywhere close to the president's desk is looking highly unlikely. in other news, baidu ‘s net profits rose more than 83% as the company bounced back after a crackdown on its core business by chinese regulators. internet search company has been focusing on investing in artificial intelligence and developing cloud capacity as it reshuffles its core business. earlier this month, baidu partnered with ford and nvidia to launch assault driving car platform. starbucks is spending over $1 billion for a full stake in the fast—growing chinese market.

in line with expectations, the international monetary fund has approved a $1.8 billion loan to greecestead of asking for more reforms and austerity measures, the imf wants a debt relief for greece from its european creditors. this year the economy is expected to grow 2.2%, that thanks to the growing tourism sector. greece is going to welcome a record 30 million visitors of this year. that is all from the business desk. a strong offshore earthquake has hit a number of holiday resorts inin greece and turkey. two tourists have been killed and another 200 are injured. the 6.5 quake struck overnight in the aegean's the. --a gen -- the aegean sea. correspoent: this greek island was hit the hardest. there is damage on every street. restaurantnts, shops and h homee devastateded the centerer of the island, usually buzzing with people at night is covered in rubble. holidaymakers were enjoying themselves here when the earthquake struck without warning at 1:28 a.m. the quake also caused a minor tsunami, flooding the harbor. those whwho witness it werere sn by t the expxperience. >> pretty surreal

britain‘s economic growth forecast has been downgraded by the international monetary fund — following importance of a good brexit deal with the eu. at least 24 people have been killed and more than 40 injured in a suicide bomb attack in the afghan capital, kabul. it‘s understood the attacker detonated the car bomb close to a bus carrying government employees in the west of the city. it‘s not yet clear who was behind the attack. scientists say they‘re examining a potential breakthrough in the case of the missing sheffield toddler, ben needham — who disappeared on the greek island of kos, 26 years ago today. human material has been found in soil samples gathered last year by british police. figures obtained by this programme show that powers brought in to curb dog attacks are not being used by the authorities. community protection notices, also known as dogbos or asbos for dogs were brought in 3 years ago. they give police and local authorities more powers to demand dog owners take steps to control their animals‘ behaviour. more than three quarters of the 311 councils who responded to o

greece has been approved for a nuclear snow bailout from the international monetary fund.he washington-based find has with onea new loan point billion dollars. it ends years of speculation on whether the imf would join in another rescue. the uk's foreign minister has promised to make considerations to minimize the effect of brexit on japanese companies. that is according to the japanese foreign minister speaking in tokyo during boris johnson's visit. china central bank has boosted supplies of cash and financial systems. the pboc added millions of dollars. monthshe most in six after demand driven by tax and dividend payments pushed the rate to a four-week high. hasi arabia's king overhauled the company's security agency. agency has been created that will be linked to the office of the prime minister , a title became also holds. king also holds. north korea's economy is growing faster than its southern neighbor, helped by military spending, including the testing of nuclear weapons. korea,ng to the bank of it expended by 3.9% from a year earlier. from three point 9% -- global

britain's economic growth forecast has been downgraded, by the international monetary fund.ry says the forecast highlights the importance of a good brexit deal with the eu. with me is our economics correspondent andrew walker. on the face of it it is rather gloomy, isn't it? less optimistic than when the imf loss forecast back in april, when they thought the uk economy would grow by 2% this year. the new figure isi.7%. if grow by 2% this year. the new figure is i.7%. if you want international comparison that would put the uk somewhere in the middle of the pack in terms of the major developed economies, the g—7, ahead of france, italy and japan, but behind the us, canada and germany. the imf was well known ahead of the referendum. some people said they were notorious for warning about the consequences of leaving the european union. you might ask is this driven by these concerns? well, the ins said they are not making that link. they say it reflects the fact the british economy got off to a weak start on the growing just not .2% in the first three months. —— the imf said they

looking promising but individual regions may have a harder time, that's according to the international monetary funds forecasting exhilarating global growth despite uncertainty surrounding brexit. they say global gdp will grow by 3.5% this year and 3.6% the year after. it expects eurozone growth to be slightly stronger next year, pointing to what it terms of solid momentum. revised british growth downwards, citing a weak first-quarter and also cut the u.s. out to 2.1%. let's go now to wall street to jens korte. why the downgrade for the u.s.? it did appear the economy there was improving. jens: well, the economy is improving and growing, but not as fast as the imf thought a couple months ago. by the way, they did not just lower the expectation for this, but also for next year. one of the main reasons seems to be the administration does not really get forward their proposal to cut taxes. that seems to be the big blow to economic growth and no one can really tell if donald trump will get a majority in congress this or maybe next year for his proposed tax cuts. helena: indeed, everyone is waiting on th

greece's creditors — which include the international monetary fund and the eu — have insisted that theash pensions in order to improve its public finances. our economics correspondent andrew walker explains why today's sale is significant for the country. this is a tall in the water. there we re this is a tall in the water. there were offers to buy more than twice that amount. i think this is a view that amount. i think this is a view that greece has done an awful lot to improve the position of its public finances. back in the red this year. but not a large deficit. think they recognise things a great deal. they ta ke recognise things a great deal. they take the view that probably if it comes to the crunch, the rest of the eurozone would be unlikely to want to see greece getting into a default and perhaps once again reigniting fears of contagion from five years ago. general motors says it's going to manufacture fewer cars in the us due to a build—up of stock on its forecourts. the biggest carmaker in the united states reported a 14% drop in profits in the last three months. let's get m

study that came out of the international monetary fund a couple of years ago which tried to determine the source of the profits of the six largest american banks. turned out it's almost entirely public subsidy through the indirect effects of the. implicit government guarantee it's called form informally too big to fail it means that there's an implicit guarantee that they're not going to fail which means you get access to cheap credit and inflated credit rating as an incentive to carry out risky hence generally profitable transactions that goes wrong the public you know that amounts to the business press estimated at about eighty billion dollars a year you're straight so absolutely everywhere you look there's massive subsidy and it's more than that i mean the it takes a the high tech economy computers internet satellites microelectronics the components of your i phone whatever it may be almost invariably they trace back to public subsidies in the state sector of the economy either actual state sector like places like this which are fundamentally part of the state sector or or a subsid

uae is asking for international monetary fund of qatari media.ar, is ask for changes in the foreign policy which is funding extremists in the region. that is not going to happen. it is really difficult to predict. in 2014, casarwent happen. it is really difficult to predict. in 2014, casar went to saudi arabia and there was an agreement that qatar would stop funding certain political factions. now saudi arabia, and bahrain are saying that qatar did not abide by the agreement. now qatar has a foreign policy and to change the policy would be extremely big hit for them. it is difficult for them to say that they will not be backing certain political factions in to say that they will not be backing certain politicalfactions in the region. on the other hand, the saudi and emirates blockaded on qatar is really harming the interests of the state. can i ask you one question about the alleged hack. when those state m e nts about the alleged hack. when those statements came out, did bbc arabic and other regional media thing, this isa and other regional medi

nato, the international monetary fund, are essential components of the architecture of peace and prosperity. these are not accidents of history. they reflect the vision of the leader we celebrate here today. harry truman new a president's ability to persuade others in the world is greatly enhanced when commanding the world's strongest military. when we restored hope in haiti, the navy was there to make it happen. when violence tore apart bosnia, legal operations helped create conditions of peace. when we needed quick text and in the persian gulf last winter, the navy was there to put steel behind our diplomacy. and on this day our persuasiveness has been enhanced considerably. this carrier occupies four and a half acres, stands 20 stories tall, home to 6000 personal, about the size of harry truman's hometown. from aviators in the ready rooms to the engineers in their spaces, to catapult officers who can launch 4 aircraft in a minute, to the cooks that prepare meals every day, the crew of the harry truman will do us proud. to the families here today, we appreciate your commitment too. your l

the update comes from the international monetary fund which says the economy is gaining momentum.on the heatwave that has hit much of mainland china. it shows tourists with flotation rings coolng off in a lake known as the "dead sea of china" in sichuan as temperatures reached as high as 39 degrees celsius. and finally the japan times. it leads on the story about the japanese prime minister shinzo abe who is currently being questioned over claims he exploited his political power to help a long—time friend. the paper discusses how the leader is facing a battle with losing the trust of voters. more on that story now: japan's prime minister shinzo abe is facing an uphill struggle amid plummeting ratings and a growing lack of confidence in his leadership. the latest public opinion polls suggest support has dropped to less than 30%. rupert wingfield hayes is in tokyo. talk us through the story a little bit more. why is it proving to make him so unpopular? his reputation has been tarnished by a couple of different scandals. one earlier in the year about a school being construct did weat

that's according to the international monetary fund which said the world economy is strengthening. but the organization cut its forecast for u.s. economic growth reflecting doubts about president trump's ability to deliver on his planned tax cuts and infrastructure spending. the organization now calls for the economy to grow at a little bit more than 2% both this year, and next. >>> home prices hit a record even as sales stumbled. national association of realtors say sales of existing homes retreated 1.8% in june. it's not for a lack of demand, it's supply. there are so few homes for sale that what is listed is going fast and at a high price. the median house price rose to a record of $263,000 last month. in some cases the houses aren't going, though, to the highest bidder but the buyer who can pay all cash. diana olick tells us why cash is king. >> reporter: t in the dallas suburb sold in less than a week. not surprising to anyone who's out shopping for a home today. >> every house kind of goes pretty quick, you know, it's not on the market very well. >> reporter: in fact, laura b

the international monetary funds is downgrading it forecast on how fast the economy will grow. it is predicting .1%% growth this year, lower than it earlier prediction of 2.3%. the ims cited weak growth earlier in the year. >> and, the pokemon go fest had a rough start in chicago this weekend, spotty sell protection, server problems, prevented participants from logging in. the game was basically unplayable. purchasers offered $100 worth of pokey coins and $20 ticket refund. >> and if you have ever lost your temper with customer service, you are not alone. a new study by messaging platform live person is suggesting that men curse at customer service agent more than women, and women tends to use soft curses like shoot, stupid, gosh, and goodness. ranked the least polite state, and idaho the most polite, jim , a hell, customers behave better when agent address tell by name. >> oh, okay. >> i can see. that will but are those curse words shoot and gosh because if that's the case, then ... >> ya, we curse pretty oven? >> ya. >> that's interesting, though, roxanna. >> i haven't been t

earlier this week the international monetary fund warned that weaker economic activity means both thehan expected this year. however in the numbers due out this morning, economists are expecting the uk's growth rate will have risen slightly in the last three months to 0.3%. following the brexit vote, the pound fell. this put pressure on prices — last month inflation stayed above the bank of england's 2% target rate. and higher prices — partly from imported goods — are having an impact on consumer spending. according to visa, household expenditure fell 0.3% last month, the lowest figure in almost four years. but government figures suggest uncertainty isn't deterring investors. the uk continues to be the top investment location in europe, with more than 2,200 new foreign direct investment projects announced in the last year — that's 2% up on the year before. and on tuesday bmw announced it had chosen oxford as the location of where it will build its new fully electric mini. also in the programme, volkswagen is set to hold an emergency supervisory board meeting later today regarding alle

he also talked about the special working group set up to forge a new trading the international monetary fundr the uk warning that activity has been weaker than expected in the first part of the year. the imf said the economy would grow by 1.7%, instead of the 2% it initially forecast. it lowered its prediction for the uk and the united states, but upgraded the outlook for several eurozone countries. the world's leading oil producing countries are meeting in russia today. ministers from the organisation of petroleum exporting countries — opec — as well as other oil producers are discussing plans they've put in place to deal with the current oversupply of oil. earlier this year, they cut production in an effort to stop crude prices from falling. budget airline ryanair has announced a 55% rise in profits for the three months to june. it said the figures were boosted by this year's early easter. however its share price has dropped 5%, after the firm said it expected prices to fall in the coming months. it's also warned it may have to stop flying certain routes if the uk doesn't do a deal with th

the update comes from the international monetary fund which says the economy is gaining momentum.ng on the heatwave that has hit much of mainland china. it shows tourists with flotation rings coolng off in a lake known as the "dead sea of china" in sichuan as temperatures reached as high as 39 degrees celsius. and, finally, the japan times leads on the japanese prime minister, who is currently being questioned over claims he exploited his political power to help a long—time friend. we were reporting on that earlier. the paper discusses how shinzo abe is facing a losing battle with voters. and that brings you up to date with all the papers. one of the pope's most senior advisors is due to appear in a court in australia, to face charges of sexual assault. cardinal george pell has returned from rome saying that he is innocent, and will clear his name. as our sydney correspondent hywel griffith explains, the case is the latest controversy to hit the catholic church in australia. in george pell's hometown, people have become used to confronting the past, and dealing with the spectre of

>> reporter: good morning, that's right, the international monetary funds is downgrading it forecast on how fast the economy will grow it is predicting 2.1% growth this year. that's lower than its earlier prediction of 2.3%. the ims cited weak growth earlier this year. jim, rahel. >> roxanna i understands another ride sharing company wants to develop self-driving technology. what's this all about? >> yes. lyft is opening research center in california called level five. that's the industry term for fully ought ton must vehicles. the company expects to have 200 employees at the site by the ends of the year, but believes majority of its rides will be ought ton must cars in four years. now, uber has already spent million of dollars opening facilities in pittsburgh, toronto, san francisco, to develop self-driving technology. so jim, rahel, the race is on. >> and it is a race that i'm not getting involved in. i'm not getting into a driver- less car. >> listen, i'm with you. >> never? >> the way of the future, roxanna, seems like everybody is doing it, right? >> i think so. >> i'll be safer

christine lagarde, the boss of the international monetary fund, one of the big financial organisationsich starts today, that the brits but we have seen will not continue to boost us job figures, which were strong in the start of this year. will they continue, given that president trump has something to crow about when all else has been going badly? the us labour market is still growing strongly. some would say that was faxed to president obama and nothing to do with president trump's rain so far. some might say! we will take you through the papers later. still to come... pay as you go. we'll be getting the inside track on the chinese digital payment giant alipay. the ceo will be joining us later. you're with business live from bbc news. a lot of businesses are worried about where the entrepreneurs of tomorrow are going to come from. ben thompson is with a group of young people who might be able to allay their fears. welcome to the south bank. we are here in central london. 20,000 stu d e nts here in central london. 20,000 students have taken part in the young enterprise scheme, whittle

the international monetary fund cuts the growth prospects for the uk and us — while boosting its forecastshina, japan and the eurozone. and how did this thing change the world 7 i sit down with the man who invented the usb memory stick. he sold the firm for $1.6 billion but describes it as one of his biggest regrets. stay tuned and we'll tell you why. and as lab—grown diamonds become more popular, today we want to know, would you mind if the diamond in your engagement ring was man—made. let us know. just use the hashtag bbcbizlive. hello and welcome to business live. later today the uk's trade secretary liam fox will be in washington to discuss a preliminary trade deal ahead of britain's departure from the european union. a final trade agreement cannot be ratified until the uk formally leaves the eu, but the two nations are keen to lay the foundations for what the us president expects to be, "a very, very big deal". in an interview with the bbc, mr fox said that uk—us trade is currently worth nearly $220 billion. but this could increase by as much as $52 billion if trade barriers between t

united states and united kingdom have seen their economic prognosis gail backed by the international monetary fund. the future of the trumpet ministration and brags at both casting their shadows. the eurozone as a whole is expected to see a pick up in domestic demand and therefore expansion. with both spain and italy is projected gdp growth revised sharply upwards. the economic forecast for china and japan have also been raised with the downgrade of the world's largest economy has refocused attention on political developments in washington. as emerald maxwell explains. in sharp contrast to the rays economic growth for costs for the years are not asia. the imf has cut its outlook for the u. s. to two point one percent for this year and next. from an early prediction of two point three percent and twenty seventeen. unto point five percent and twenty eighteen. the imf said it's downgrade reflects uncertainty about fiscal policy changes on the donald trump. the american president has promised to restore growth to three percent a year. a figure economists say is unrealistic. even if the trumpet ministr

the international monetary fund has downgraded the growth forecasts for both the uk and the us.ared to a previous estimate of 2%. similarly, it revised down its growth forecast for the us from 2.3% down to 2.1%. the imf said that this was based on "the assumption that fiscal "policy will be less expansionary than previously assumed". let's get more on this with samira. what does that mean exactly? well, really, and it comes down down to something with talked about a lot, with the aspirations of the trump administration on what can be accomplished. president from when he was campaigning to be president said we're going to see a growth rate of 496 in we're going to see a growth rate of 4% in the united states. that was downgraded to 3% when he took office. when we're looking at the growth rates, they are in the low 2%. the big problem, especially from the position of the imf, it is all of these legislative aspirations, things like getting the tax code reformed, and getting the big infrastructure plan pushed through, those are not looking realistic. it is looking difficult for the

ahead of international monetary fund to said that in ten years' time the i.m.f. sage q could be relocated to beijing which might very well mean that it's. if we have this conversation in ten years time we might not be sitting in washington doing the. will do it in our beijing head office they are messed spring dominated by the u.s. since it was created more than seventy years ago but as christine the girl went on to explain the lenders voting structure will have to change now because china's economies overtaking the u.s. she added that i.m.f. rules state that the head office has to be located in the largest member economy we are financial experts for their views on that. the i.m.f. published a report yesterday its world economic outlook and it was and to suppose that growth this year in china will be six point seven percent and that far outstrips the two point one percent that is some dissipating for the us this is something that we've been seeing for a long time that particularly china and india have been driving world growth far more than the developed countrie

the international monetary fund keeps its forecast for world economic growth.t cuts prospects for the uk and the us, while china and the eurozone gets a boost. welcome to bbc news. donald trump senior adviser and son—in—law jared kushner will today face the student from senate intelligence committee is investigations into russian interference moves a step closer. from washington laura bicker reports. jared kushner... jared kushner. .. jared jared kushner... jared kushner is not being centrestage, is one of double trumps close as advisers he has been silent on his side seem rarely heard he has done some talking with russians. first with the russian ambassador. and even with this man, he is the head of a russian bank tied to the investigation. when asked about that meeting, sergey gorkov sergey gorkov said ask the white house. his father—in—law did not seem to please. jarrod has now become much more famous than me. laughter i am a little bit upset about that. mr kushner was also part of a meeting with the russian lawyer arranged by donald trump junior. he's with

the international monetary fund is kucutting the growth forecas for the u.s. this year.mf says the move primarily reflects the sum that is president trump's plans to cut taxes and spend more on infrastructure won't provide a boost to growth. some automakers could be trimming their model lineups. general motors has put six of its cars under review and is evaluating whether to cancel them outright in the coming years. they include the chevy volt and rethink why automakers comes as consumers continue to demand suvs and pickups over sedans. >>> and speaking of cars, gas prices are inching up. the latest industry survey shows the average price of regular unleaded rose a penny over the past two weeks to $2.32 a gallon. and that comes after 11 straight weeks of declines. gas prices are about ten cents above where they were a year ago, philip. back to you. >> cnbc's landon dowdy, thank you. >>> straight ahead, a new film released overnight features the rock and a very unexpected co-star. >>> plus, he may be the most decorated olympian. but michael fell phelps finally his match.

international monetary fund has backed the french government's plans to reform the economy. describing the proposed changes as broad and ambitious. yeah i maths at present among your michael has a quote a unique window of opportunity. to tackle issues like high unemployment messy public finances and make the country more competitive. with a series of measures which include a lower corporate tax rate and lower public spending. the imf also increased its growth projections raising the outlook for my one point four to one point five percent this year. just just under governments one point six percent targe. let's check in on the day's trading action now on the currency markets the pound sterling has slipped as brides it ago shuzhen's got underway in brussels. expectations that the eu will be pushing for a hard break. after soaring to its highest levels in ten months at the end of last week the british currency dropped under one dollar thirty one cents. a jarring monday trade tulsa trading down about point four percent against the euro. european stock markets were mixed the puts

of the country will be receiving a less of financial aid from the international monetary fund than had been expected for this year. central bank the says the government's program of reforms which includes raising the pension age and lifting a ban on land sales was running behind schedule. nine math will therefore route least just three billion dollars rather than the four and a half originally slated. part of a seventeen and a half a billion dollar bailout which was agreed in twenty fifteen. ukraine's finance minister alexander danny leo told france twenty four that there are complications with the reforms. that he expected to meet the deadlines and exit the bailout program on time. looking ahead to another two years. you know i see that yes who could be self sufficient into your successful. and finishing the program but not in terms of timing potential use of the reforms that we have to implement. and the look of it needs to be done now so that the result will be felt in two thousand eighteen one program is over. people in profit online or next airing it to. as world leaders gather in

we do and the status quo will tell you that special drawing rights the currency of the international monetary fund will be able to absorb hundreds of trillions of dollars worth of toxic derivatives and they'll roll up to a new global currency the special drawing rights i don't think that's going to work because cryptocurrency is are going to do worth the special drawing rights the special drawing rights market capitalization i haven't checked recently but i believe it's under two hundred billion dollars yeah special drawing rights are even in existence whereas the crypto currency markets blew past one hundred billion and could very easily get to see the special drawing right in market capitalization very soon and before you go to chris whalen he's on the first episode of summer solutions talking about how to make america great again with the jobs market i do want to say crucial to the way the reason why america is so not great is their health care system and i'm hoping that twenty seventeen is the when we see the solution h.c.a. the care that is not a solution to the bottle of obamacare we live in