- Associated Press Finance
IMF upgrades its forecast for China's economy, but says reforms are needed to support growth
The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF's report, issued late Tuesday, said the world's second-largest economy will likely expand at a 5% annual rate this year, based on its growth in the first quarter and recent moves to support the property sector. The ruling Communist Party has set its annual growth target at “around 5%,” and the economy grew at a faster-than-expected 5.3% in the first quarter of the year, boosting the global economy.
- AFP
Indian capital records highest-ever temperature of 49.9 Celsius
Temperatures in India's capital have soared to a record-high 49.9 degrees Celsius (121.8 Fahrenheit) as authorities warn of water shortages in the sprawling mega-city.- 'Water scarcity' - New Delhi authorities have also warned of the risk of water shortages as the capital swelters in headache-inducing heat -- cutting supplies to some areas.
- Reuters
UK's first black woman lawmaker barred from running for Labour
Britain's first Black woman lawmaker, Diane Abbott, said on Wednesday she had been barred from running as a Labour candidate in the July 4 general election after she was suspended more than a year ago for comments she made about Jews and racism. Abbott, who was first elected to parliament for Labour in 1987, was a close ally of the party's former leader Jeremy Corbyn and was on the left wing of the party. Abbott was suspended last year after she sent a letter to the Observer newspaper in which she said the prejudice experienced by Jewish people was similar to, but not the same, as racism.
