FINANCE & BANKING

IMF expects further cut in global growth outlook

International Monetary Fund logo is seen outside the headquarters building
The International Monetary Fund expects to further cut its forecast for global economic growth in 2022 next month, an IMF spokesperson said on Thursday, following moves by the World Bank and Organization for Economic Co-operation and Development (OECD) to cut their own forecasts this week.
Traders work on the floor of the NYSE in New York

Some hedge funds face steep losses after betting on hot sectors

Hedge fund investors are bracing for a river of red ink as firms begin reporting returns for May when the stock market hovered near bear territory on disappointing earnings and worries about aggressive rate hikes, investors and fund managers said on Thursday.
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