LONDON (ShareCast) - The Federal Reserve is still expected to raise interest rates this year but lowered its GDP growth forecast for this year to 1.8% from 2% initially, The Telegraph writes.
IAG, Easyjet, Ryanair, Air France-KLM and Lufthansa have united to demand action from the EU to avert summer travel chaos caused by air traffic control strikes, The Times says. "Diplomats have told The Times that plans to improve labour relations and prevent strike disruption are being blocked by Spain in its long-running dispute with Britain over the sovereignty of Gibraltar," the paper writes.

The Federal Communications Commission is expected to fine AT&T $100m over accusations the US telecoms group deceived consumers about unlimited wireless data plans, reports The Wall Street Journal.

US hedge fund Elliott has claimed that Samsung C&T shareholders will lose 7.8trn won ($7bn) if a merger between the latter and Samsung sister company Cheil Industries goes through, writes the Financial Times.

Shares in Aga Rangemaster rose 30% on Wednesday after the cooker manufacturer said it was in talks about a potential takeover, The Guardian reports. The company has been targeted by the Middleby Corporation of Illinois.

General Electric chief executive Jeff Immelt has threatened to relocate jobs out of the States if Republicans shut down President Obama's trade promotion authority, the Export-Import Bank, according to the Financial Times.

The richest 0.2% of the global population now control over a fifth of the world's assets, The Telegraph reports. Data showed that the number of individuals with over $1m of liquid assets rose 6.7% to a record 14.6m in 2014.

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