Good morning! Here’s what you need to know.
Japan is still in the doldrums. The index measuring sentiment levels for large manufacturers fell to +6 during the quarter. Not only did it miss expectations for a decline to +8, it was also the lowest level seen since the June quarter 2013
The Financial Stability Board weighed in on fintech. Global regulators have moved closer to regulating the fledgling fintech sector, which includes blockchain technology that supports bitcoin, to ensure the industry’s rapid growth does not pose any risks to the financial system.
Major powers are signing climate change accords. The United States and China confirmed that they will sign the Paris climate change agreement in New York on April 22, a move that officials hope will help the accord enter into force this year.
The smartphone market is finally waning. Global smartphone sales are expected to grow in single digits in percentage terms for the first time ever and PC shipments are forecast to decline in 2016, according to research firm Gartner Inc.
McDonalds is expanding in Asia. McDonald’s said it plans to open more than 1,500 restaurants in China, Hong Kong and South Korea over the next five years and wants partners in the Asia expansion.
Prime Minister David Cameron is diving in to the steel debate. He held crisis talks Thursday to salvage Britain’s steel industry after Indian giant Tata Steel said it was putting its troubled British business up for sale, threatening 15,000 jobs.
The Brazilian president is edging closer to impeachment. Supporters of embattled Brazilian President Dilma Rousseff – with her fiery predecessor at their head – were taking to the streets Thursday to protest against a looming impeachment vote.
The US is concerned about North Korea. The United States moved to keep pressure on nuclear-armed North Korea and reassure China over the proposed deployment of a sophisticated anti-missile system to South Korea.
Deutsche Bank has missed targets in its rates trading division. The bank’s rates-trading business, which had targeted ambitious revenue growth in 2016, is suffering amid the tough start to the year. Deutsche Bank started the year targeting 2 billion euros in revenue from the rates business for the whole year.
The Catholic Church is investigating corruption claims. The Vatican said it is investigating two former officials over claims money meant for a children’s hospital was used to refurbish a cardinal’s luxury apartment.
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