Faisal islam the latest geopolitical tensions and how it could drive up prices for all, especially poor countries. Weve got ourforecast down from 1. 7 in april, down to 0. 8 . We have already said risks were the downside when we made this forecast was down by almost one percentage point. There are number of factors, the continuing crisis in the world that we see and now of course we have the crisis in The Middle East. We have the slowdown in growth in china, we also have high Interest Rates that have continued. We see weak demand across the board in most sectors and most geographies. Thats why we cut the forecast. How much of this is actual policy . Were hearing from the west this idea of nearshoring, or income of Rebuilding Supply Chain away from east asia. How much of this is here to stay and how much of a problem is that . We saw there is more to it ongoing now within politically similar blocks number between locks that are dissimilar. That is some indication. We look at certain sec
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wall street had the third record day in a row. this week. it is leading the charge with high tech companies. the dow starts today, 12 points higher, nearly a full percentage point, 14,802. the boost in tech stocks suggesting businesses are spending more on i.t. upgrades. a sharp drop in personal computer sales. despite microsoft s aggressive attempt to slow the trend. global sales of pcs dropped 14% during the first few months of the year. the steepest decline in 19 years. analysts thought microsoft s introduction of windows 8 operating system last year would shore up the market. but buyers are turning to tablets instead. they re waiting for daylight in st. louis to see the full extent of the damage left behind by a dangerous line of storms. at least three tornadoes ripped through the area last night with winds topping 80 miles an hour. trees came crashing down on
more than 240 lives. the heavy rains that began falling in august have stopped for now but aid agencies in pakistan s government are struggling to help the victims. those are the top stories from cnn, the world s news leader. world business today starts right now. hello and a warm welcome. i m nina dos santos at cnn london. these are the top stories on friday, september 16th. finance ministers arrive for a high-level powwow in poland as they try to bring europe s debt crisis to a close. ubs, it reels from a fallout of a $2 billion loss. the swiss bank is facing a major overhaul. and a memo leaked to cnn warns of more job losses to come at rbs on top of 27,500 axed. the euro zone finance ministers meet in poland today. the hope is they ll show the same degree of unity and coordination that many of the world s key central bankers did on thursday in confronting europe s debt crisis. the central banks of britain, japan and switzerland move to pump dollars into europe s
to sleep. oh, my. okay. 21 past the hour. time now to take a look at the morning papers, we ll start with the financial times. the report released late yesterday by senate investigators puts a new spotlight on goldman sachs and the role it played in the financial crisis. senator paul levin who heads the panel said goldman clearly misled their clients and misled congress. he also said the matter was being transferred to the justice department for possible criminal investigation. later in the show, we will talk to author william cohan, how goldman sachs came to rule the world. the tablet revolution is taking a bite out of personal computer sales which suffered market-wide first quarter declines. pc sales were forecasting a 3% growth. california governor jerry brown is standing by a campaign pledge to have voters go to the