Some 57% of chief executives expect the global economy to expand this year, says PwC.
Davos report says changes will encourage investment, but that shot in the arm will only be short-lived
The global economy will grow faster than expected this year and next as Donald Trump’s corporate tax cuts provide a short-term shot in the arm, despite fears over rising inequality and overheating financial markets, the International Monetary Fund has said.
Launching its latest World Economic Outlook (WEO) report at the annual Davos gathering of the global political and business elite in Switzerland this week, the IMF upgraded its growth forecast for the world economy by 0.2 percentage points to 3.9% for both 2018 and 2019.
1. Extreme weather events
Davos is a Swiss ski resort now more famous for hosting the annual four-day conference for the World Economic Forum. For participants it is a festival of networking. Getting an invitation is a sign you have made it – and the elaborate system of badges reveals your place in the Davos hierarchy.
Maastricht treaty limits on public spending may have fuelled private finance, argues Ted Watson. Plus other readers’ views on the controversial funding mechanism
George Monbiot (Opinion, 17 January) asserts that the PFI bosses fleeced us all. Twenty years ago there were exceptions. Oxfordshire county council and many other councils recognised its deceptive creative accounting and avoided using PFI.
Central government does not distinguish between irresponsible borrowing for revenue and responsible borrowing for capital. Both are in the public spending borrowing requirement (PSBR) which central government wished to present as low (a high PSBR leads to austerity to reduce it), so it restricted local government’s borrowing and used PFI to disguise its own borrowing.
Extreme weather, such as droughts in Australia, pose significant risk to growth, IMF warns
The International Monetary Fund has lifted its forecasts for global growth, saying momentum is building in global economic activity and Donald Trump’s tax cuts in the US are likely to stimulate activity further.
It says the growth momentum is expected to carry into 2018 and 2019, and it has revised upwards its global growth forecasts by 0.2 percentage points for both years, from 3.7% to 3.9%.
Forecasts upgraded for 2017, 2018 and 2019, adding to positive mood ahead of Davos gathering
Sterling trading at highest since 2016 Brexit vote
The UK’s biggest supermarket aims to make £1.5bn in cost savings by 2020.
Payroll provider ADP said it is acquiring WorkMarket, a startup that specializes in workforce management software that operates across a wide range of employees and contractors, for an undisclosed sum. The software aims to create a kind of unified interface for managing an extended workforce that can include a variety of workers with different employment status, from contractors and… Read More
Beauty blogger Amena Khan apologises after tweets she wrote in 2014 are branded as ‘anti Israel’.