Paris / AFP France said on Tuesday it was sticking to its economic growth forecasts for this year and next, seen by some economists as too optimistic. In its 2017 budget draft law, the finance ministry said projected expansion would allow France to cut its deficit to below three percent of gross domestic product (GDP) in 2017 as required …

  London / AFP GlaxoSmithKline on Tuesday appointed Emma Walmsley, its head of consumer healthcare, to lead the British drugs giant and develop new treatments in a fast-consolidating sector. Walmsley, 47, succeeds outgoing chief executive Andrew Witty, who is retiring early next year after almost a decade at the helm. Walmsley, who joined GSK from French cosmetics giant L’Oreal six …

  Bloomberg Petroleo Brasileiro SA reduced investments by 25 percent and is accelerating asset disposals in its latest business plan as it downsizes to withstand low international oil prices amid Brazil’s deepest two-year recession on record. The 2017-2021 plan, the first drafted under Chief Executive Officer Pedro Parente, focuses on accelerating debt reduction and retreating from peripheral businesses such as …