IMF sees rising emerging economies shaping global trade
The IMF forecasts 4.8 percent world growth this year and 4.2 percent next, led by China at 10.5 and 9.6 percent, with Brazil at 7.5 and 4.1 percent, while the United States and Europe face lingering weakness and pressure to boost exports. The yuan’s value and China’s policy shifts raise debates on currency manipulation and trade balances ahead of midterm elections.
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Government probes foreclosure paper fraud wave
Attorney General Eric Holder says the government is investigating alleged flawed court papers used by lenders in foreclosures. Ohio AG Richard Cordray seeks penalties and stop orders against Ally GMAC as reviews widen across multiple states and lenders pause foreclosures.
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McDonalds recalls 12 million Shrek glasses over cadmium hazard
U S regulators pushed a rapid recall after finding eight touches could expose a six year old to toxic cadmium from Shrek Forever After Puss in Boots glasses. McDonalds acted to urge return of all four glass designs amid agency concerns and no reported illnesses.
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