Sydney / Bloomberg The Australian federal government’s debt pile is set to increase further without measures to boost revenues, Moody’s Investors Service said. Spending cuts set to be outlined in the May 3 budget “may be modest” and with Treasurer Scott Morrison having excluded steps to bolster income, these “limited” reductions are unlikely to meaningfully advance the government’s aim ...

  Beijing / Bloomberg China’s love affair with physical beauty is helping to fuel a selfie-editing app’s valuation of $3 billion. Meitu Inc. is shooting for at least that much in its latest funding round, according to people familiar with the company, a target that would make it one of China’s 10 largest private startups and eclipse household-names like Yelp ...

AFP The International Monetary Fund said that the fiscal projections underpinning Greece’s proposals for moving ahead in its bailout programme are not realistic. Poul Thomsen, director of the IMF’s European Department, raised questions about the forecast that Greece could maintain a 3.5 percent budget surplus for years as part of its plan for debt relief from European Union creditors. “We ...