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International financial news

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International financial news
PARIS The French luxury goods group LVMH, which owns brands such as Louis Vuitton, Givenchy and Guerlain, has posted firstquarter sales of 6.95 billion euros ($A8.75 billion), a rise of six per cent from the previous threemonth period that underscored weaker growth in the sector.NEW DELHI India's inflation has slipped below six per cent for the first time in nearly threeandahalf years, marking the first good economic tidings for the embattled Congressled government in months.BERLIN Germany does not have the economic strength to launch another stimulus package now without running the risk of losing market confidence, Chancellor Angela Merkel says.NEW YORK US banking giant Citigroup has reported a 30 per cent increase in firstquarter net income (net profit) from a year earlier due to higher revenues and lower net credit losses.BEIJING Iceland has become the first European country to sign a free trade agreement with China, as Beijing looks to gain a foothold in the strategic Arctic region.BRUSSELS The European Commission has cleared USbased cable operator Liberty Global to acquire Britain's Virgin Media in a deal worth 17.2 billion euros ($A21.64 billion).LOCAL NEWSCANBERRA West Australian Premier Colin Barnett says the federal government is trying to take over state schools through its proposed funding plan.SYDNEY Australian runners at the Boston Marathon have told of their horror after two bombs exploded near the finish line, leaving at least two people dead and dozens injured.CANBERRA Former federal government frontbencher Chris Bowen is to release a book in mid2013 in which he will outline how modern Labor must govern and change to reflect community aspirations.SYDNEY Despite Labor introducing Australia's modern superannuation system, most people do not trust party on the issue and are opposed to any tax increases after the federal government's prebudget announcement of cuts to retirement concessions for the wealthiest,[url=]femmes moncler[/url], a Newspoll shows.SYDNEY Universities were blindsided by the federal government's plan to cut their funding in order to improve schools, says leading vicechancellor Fred Hilmer, who has branded the move "one of the most bizarre announcements in recent times".

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