Thursday, October 08
President Donald Trump's trade wars are expected to slash economic growth this year in the United States and around the world, the World Bank forecast Tuesday. Citing "a substantial rise in trade barriers'' but without mentioning Trump by name, the 189-country lender predicted that the U.S. economy - the world's largest - would grow half as fast (1.4%) this year as it did in 2024 (2.8%). That marked a downgrade from the 2.3% U.S. growth it had forecast back for 2025 back in January. The bank also lopped 0.4 percentage points off its forecast for global growth this year. It now expects the world economy to expand just 2.3% in 2025, down from 2.8% in 2024. In a forward to the latest version of the twice-yearly Global Economic Prospects report, World Bank chief economist Indermit Gill wrote t
Australia captain Pat Cummins on Tuesday revealed his side's playing XI for the ICC World Test Championship at Lord's. Cummins spoke to the media in London and announced the XI the reigning World Test Championship winners will use is exactly the one as predicted by Australian great Ricky Ponting on The ICC Review last month.Former No.1 ranked Test batter Marnus Labuschagne will push up the order to open alongside Usman Khawaja, while Josh Hazlewood won the race against Scott Boland to partner left-armer Mitchell Starc and Cummins in the pace attack.All-rounder Cameron Green will play his first Test since back surgery, while Beau Webster retains his spot in the XI and will provide the bowlers some support with his medium pace and spin options.Meanwhile, South Africa captain Temba Bavuma has
Samvardhana Motherson is bracing for battle with US distressed debt hedge fund Strategic Value Partners (SVP) over the acquisition of Marelli Holdings, a Japanese car parts supplier owned by private equity group KKR & Co, said people aware of the matter. The Vivek Chaand Sehgal-led Indian company is said to be raising a $2 billion war chest for the deal.The board of cash-strapped Marelli, together with a special committee of its warring lenders, are meeting this week, possibly within 24 hours, to decide on the future of the company that’s on the verge of bankruptcy.SVP is an existing lender of Marelli, while Motherson Group has set up 50:50 joint ventures with the company in India since 2008, for components such as automotive lighting and shock absorbers. 121737127Marelli began in 2
