You only had to look at Iain Duncan-Smith, Secretary of State for Work and Pensions, last Wednesday to know that there was something wrong with the Budget – the first pure Tory budget (if that is not an oxymoron) in 20 years. There is a new Living Wage of £7 20, increasing to £9 by 2020 (but only for those over 25) whilst at the same £12bn was to be cut from the Welfare Budget by 2020. Student maintenance grants were also to be cut, hammering more nails into the coffin of social mobility. IDS, a man who induces IBS in WTF and many others, was pumping his fists and shouting « get in!! » like Andy Murray at match point. Of course, if you have a house worth £1m, possibly decorated with wallpaper and fabric from the Chancellor’s family firm Osborne & Little, your heirs can now inherit it without paying tax. But…
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You think LeBron and Bryce Harper were too hyped too early, what with their Sports Illustrated cover stories while they were still in high school? Well, they have nothing on French tennis star Richard Gasquet, who was gracing the cover of France’s Tennis magazine while he was still in third grade.
I wonder how many people got that magazine back in 1996 and thought to themselves, « yeah, right, » and never realized that the lanky single-digit youngster on the cover would ultimately become famous. But even back then Gasquet had the sublime one-handed backhand that would eventually make him a top-10 player on Tour.
If my French is still any good, the headline — « Le Champion: Que La France Attend? » — reads « The champion that France expects? » (I’m kidding, I totally put that into Google translate.)
My favorite part of the cover is how Gasquet is referred to as…
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The International Monetary Fund (IMF) has cut its forecast for global growth this year, because of a slowdown in the US economy.
The IMF has adjusted its forecast in the global economy growth to 3.3% in 2015, it had previously forecast a growth of 3.5%
This adjustment comes shortly after last months correction whereby the IMF lowered is forecast for US growth to 2.5% in 2015 from an earlier estimate of 3.1%.
The US economy contracted at an annual rate of 0.2% in the first quarter of the year after being hit by bad weather. The US is a drag on the world economy, according to the IMF, because of « an unexpected output contraction ».
Perhaps rather surprisingly the IMF has not revised its Eurozone growth forecast which remains unchanged at 1.5%. The Greek crisis was only having a “ marginal effect “ on the global economy according to the IMF…
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