All the latest economic and financial news, as fashion firm Burberry warns that demand for luxury goods is fading, particularly in China * US inflation hits zero * Goldman hit by growth fears * Burberry: Luxury market is more challenging * Burberry sales down 4% in last three months 4.29pm BST GREECE’S BIGGEST THINKTANK, IOBE, HAS A STERN WARNING FOR THE COUNTRY’S POLITICIANS TODAY - THIS IS YOUR LAST CHANCE TO FIX THE CRISIS. IOBE urged MPs to stick to Greece’s bailout plan and implement the economic reforms it needs, as it predicted a less severe recession than feared. In its quarterly report, IOBE said the economy would shrink by 1.5 to 2.0 percent this year, less than forecast by Greece’s international lenders. It also said the economy could return to growth in the second half of 2016 provided the government takes steps urgently to shore up the battered banking sector, reform Greece’s ailing pension system and make the country more business-friendly. 4.21pm BST THERE ARE FRESH RUMBLINGS OF DISCONTENT IN GREECE AS THE ATHENS PARLIAMENT PREPARES TO VOTE ON NEW AUSTERITY MEASURES ON FRIDAY. Around 200 demonstrators from the communist PAME union blocked the Labour Ministry today, carrying a banner reading “hands off the social security system” Continue reading...
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