In its six-monthly economic forecast, published before its annual meeting in Lima, the IMF said that global growth was at its lowest since the financial crisis of 2008. Among other factors it blamed sluggish productivity growth, high debt levels and ageing populations. The fund urged governments to encourage higher spending and to push ahead with economic reforms.
AB InBev, the world’s biggest brewer, said today that it had offered to buy SABMiller, the second-biggest, for around £68 billion ($104 billion), or £42.15 a share. It said SABMiller’s board had turned down two private bids at £38 and £40. The latest offer is 44% more than the share price before speculation about a merger was renewed in mid-September.
The share price of Yum Brands, owner of KFC, Pizza Hut and Taco Bell, fell by 18% in after-hours trading after the fast-food group said it expected same-store sales in China, which accounts for nearly half its operating profit, to decline this year. Yum was hurt by a food-safety scare last year; and recovery has been hindered by China’s economic slowdown.
Two technology companies—one middle-aged, one still young—launched new products intended to revive flagging fortunes. Microsoft, which has struggled to cope with the shift to mobile computing, showed off smartphones and tablets geared to its latest operating system, Windows 10. The day after confirming Jack Dorsey’s return as chief executive, Twitter unveiled Moments, a service presenting selected tweets about live events.
Russia’s claims that its violations of Turkish airspace were accidental were rejected by NATO. Turkey’s president, Recep Tayyip Erdogan, said that his country “could not endure” further intrusions. A spokesman in Moscow denied Syrian official media reports that Russian warplanes had attacked Islamic State positions in and around the historic city of Palmyra.
Islamic State said it had attacked both sides in the war in Yemen. Explosions killed 15 soldiers at a hotel in Aden used by the government and the Saudi-led coalition fighting against mainly Shia Houthi rebels. This was the first time IS, which has pledged to attack the Gulf monarchies, had claimed an assault on the coalition. The jihadists also said they carried out the bombing of a Houthi-run mosque in the capital, Sana’a, which killed seven.
Ghana suspended seven out of 12 high-court judges following a film by an investigative journalist that portrayed scandalous behaviour, including asking for bribes and sexual favours; 22 judges in lower courts were suspended last month. “Ghana in the Eyes of God; Epic of Injustice”, by Anas Aremeyaw Anas, who appears in public only in disguise, is highly popular but has faced legal obstacles.
