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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Oct 08, 2014
Page
5
The IMF lowers 2014 global growth to 3.3 percent and 2015 to 3.8 percent citing weaker expansion in Japan Latin America and Europe. U.S. growth pacing up to 2.2 percent this year with 3.1 percent in 2015 while risks include low rates and geopolitical tensions.
U.S. shares declined as IMF trimmed global growth forecasts and Germany reports weak industrial output. Investors braced for third quarter earnings, with Alcoa set to report after the close, while 10 year Treasuries rallied and stocks remained weak into October.
Treasury Secretary Jacob Lew said the U S economy is improving but warned other nations are not doing enough to boost global growth. He cited the IMF outlook trimming global growth and urged decisive action by governments to prevent years of sluggish expansion while noting China should further strengthen its currency.
Twitter filed a California federal lawsuit to publish its full transparency report on government data requests. The move seeks First Amendment protection to disclose the scope of U S government surveillance despite existing legal limits. AT&T reports a rogue insider accessed customer data, with 1600 customers notified and free credit monitoring offered. A separate Infosys retaliation suit names top executives, with the plaintiff Jay Palmer alleging retaliation while most officials are in India.
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