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Wednesday, 6 April 2016

IMF - "More Growth Needed from Advanced Nations " - or What?


Christine Lagarde warns of advanced economies’ ‘loss of momentum’ and credits emerging markets with driving recovery

IMF director urges governments to ‘pick up the growth baton’

Governments must urgently pursue more growth-friendly policies to shore up a weakening global economy beset with risks, the head of the International Monetary Fund has said.
Christine Lagarde also put governments on alert that they should prepare contingency plans in case threats to the fragile global economy materialise.
“The good news is that the recovery continues. We have growth. We are not in a crisis. The not-so-good news is that the recovery remains too slow, too fragile, and risks to its durability are increasing,” Lagarde said in a lecture at Goethe University in Frankfurt, Germany.
“We are on alert, not alarm. There has been a loss of growth momentum. However, if policymakers can confront the challenges and act together, the positive effects on global confidence, and the global economy, will be substantial,” she said, according to text of her speech.

“Once GDB spends its last remaining funds — and it is only a

 matter of time — many essential services in Puerto Rico may

 come to a halt,” the hedge funds said in their complaint. By

 then, they said, there would be nothing left for the bank’s 

creditors, who “will suffer substantial losses.”

Not even the prospect of leaving Russia’s budget in the red until 2018 will force reductions in social or defense spending, the two items that dominate government expenditure, a Bloomberg survey of economists showed.

Australia's central bank warned that a rising currency could interfere with a transition to a broader based economy Tuesday, fueling expectations of interest rate cuts to come later in the year after the bank kept its powder dry at its latest policy meeting.

An early look at Elon Musk’s Gigafactory,

 a building that could change the world

Here's Tesla's first Gigafactory, located just outside Sparks, Nevada.
Early concept art for Tesla’s Gigafactory. Everyone’s excited about Tesla’s new Model 3 car , but mass producing that electric vehicle is going to require a ton of batteries. That’s where Tesla’s Gigafactory comes into play. For those unfamiliar, Tesla describes its massive 5.5 million square-foot Gigafactory as a way to “accelerate the world’s transition to sustainable transportation.” The first Gigafactory, located outside Sparks, Nevada, is an ambitious manufacturing facility that plans to build batteries for Tesla’s electric cars for the foreseeable future. To make these batteries, Tesla will use “economies of scale, innovative manufacturing, reduction of waste, and the simple optimization of locating most manufacturing process under one roof.” The Gigafactory is also notable since it will be powered completely by renewable energy, according to Tesla. Tesla’s first Gigafactory aims to start building battery cells by 2017, to coincide with the launch of the Model 3, reaching full […]

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