kate moody has more on the investigations. >> panama city has been thrust into the spotlight. following the publication of the so-called panama papers, the government planned to investigate whether crimes had been committed on its soil and defended efforts to crack down on illicit transactions. >> this type of challenge strengthens us as a country and has reaffirmed our engagement to fight for transparent the of our financials is to him. system.nancial >> the scandal has increased evasion,to fight tax money laundering, and offshore accounts. been fighting against corruption, illicit finance, money laundering, for the past four years. fortunately, we are not doing this alone. other countries are working with us and it is bearing fruit. >> high-profile figures have denied wrongdoing. the law firm alleged to have set up the account insists the business is legitimate. regulators around the world say they are digging into individual cases as well as panama on's hazy financial system. >> we turn to the u.s. .residential campaign the state of wisconsin will be the latest to vote. thi

business news time now with kate moody. hi there, kate. you are going to start us off with the international monetary of warnings from them. they are talking about financial uncertainty. kate: and it's going to continue according to the imf, just a day after cutting its global growth outlook. the fund to says that more action is needed around the kind of market turmoil we saw at the beginning of this year. the imf warning comes ahead of its spring meeting, which gathers finance ministers and central bankers from around the world. our business editor markus karlsson is also there. he joins us now from washington, d.c. are right. yesterday, we heard from the imf when it came out to cut its global growth outlook for this year to 3.2%, which is lower than previously forecasted. today, the international monetary fund has been raising another warning finger. this time about financial markets and their stability. we will talk more about the so-called global financial stability report now with the man who is in charge here at the international mon

kate moody has the story. [laughter] >> a promise to put america first here .ald trump outlined his plans. mr. trump: it is time to shake the rust off of america's foreign policy. >> he spent most of the speech criticizing barack obama calling his plan a complete and total disaster. they mocked donald trump with his mispronunciation of country names. comes to this president's foreign policy, there is no denying that the united states is safer and stronger than we were when president obama took office back in january of 2009. newt gingrich describe it as a serious proposal that would nevertheless be ridiculed by washington elite. other party leaders dismissed it as a coherent and lacking details, but lindsey graham describing the remarks as pathetic in terms of understanding the threats facing the country. hillary clinton's campaign blasted trump's proposal as reckless and dangerous. ted cruz try to shift the spotlight to his new running mate carly fiorina. businesswomen upon second largest is cleaning up after widespread rioting on wednesday. the country faces

i am joined by kate moody. you are going to start off with a crackdown on tax invaders. ers.n tax evad kate: europe has agreed to share data to track down people are trying to hide money. france, italy, and spain will begin sharing information to find out who owns assets like shell companies. it will be effective if the u.s. signs up as well. what the deal on the sidelines of the imf meeting in washington could add to global efforts to crack down on tax invasion -- on tax evasion. doug: we feel another hammer blow today against those who would illegally evade taxes and hide their wealth in the corners of the financial system. britain will work with major european partners to find out who really owns the secretive shell companies and the trusts that have been used as conduits for evading tax and laundering money and benefiting from corruption. been the stockmarket has focused on china this friday. gdp growth is been reported of 6% in the first quarter -- 6.7% in the first quarter. it was probably in line with expectations. oil prices have also fallen after hitting their hi

i'm joined by kate moody. you are going to start off with more fallout from the panama papers leaks. not just the politicians we have been talking about but also shining and unwelcome spotlight on banks around the world, financial institutions that may have helped facilitate those accounts. europe watchdogs across at it.king the u.k. has asked 20 banks to hand over all details on individuals or companies named in the leaked documents. thursday, protesters blocked the paris headquarters, accusing the bank of fiscal fraud. >> frederique is in hot water. he is accused of not selling the whole truth. in 2012, the bank ceo appear before a senate commission on tax evasion, where he declared -- has feastedenerale on a list of proactive countries -- on the noncooperative countries, which in practice means for us, panama. the senate wants to see him again. the bank has defended itself, saying that the frameworks referred to in the media are held not by societe generale, but by clients. in other words, the banks has no

kate moody has more. financial scandal with diplomatic consequences.y are putting -- being put back on the list of uncooperative countries and tax havens. that means cracking down on transactions. current members of the list include botswana, guatemala, and the marshal islands. >> we cannot be alone in doing this. that is why i have allowed the oecd to make the same decision for all involved. france removed panama from the blacklist in 2012 after signing a bilateral deal to fight tax evasion. they played a decisive role in the g20 agreement to restrict financial -- to impose financial restrictions on the company -- country. the panama papers reveal the thousands of french taxpayers, among many others. panama is spamming to defend itself. the government said that they could take retaliatory measures against france, including blocking foreign investments. >> there is a retaliation law against countries like panama. it's a blacklist. we will not accept being used as a scapegoat for the actions and responsibilities of third parties. panama-based law firm a