Bloomberg The International Monetary Fund (IMF) will cut its global economic growth outlook “substantially” in its next update, as finance chiefs grapple with a shrinking list of options to address the worsening risks. Surging food and energy prices, slowing capital flows to emerging markets, the ongoing pandemic and a slowdown in China make it ‘much more challenging’ for policymakers, …

Bloomberg India’s gasoline and diesel sales during the first half of July dropped from last month as seasonal rains curtailed demand in world’s third-biggest energy consumer that could help keep a lid on oil prices. The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery …

Bloomberg Less than a decade ago, London’s Heathrow was the undisputed hub airport for Europe, with thousands of daily passengers and an ambitious expansion plan that included a brand new runway. Terminal 5 was still a novelty — the UK’s largest free-standing building hosted a string of glitzy shops and restaurants, including one founded by celebrity chef Gordon Ramsay. The …