U.S. President Trump says peace talks with the Iranian regime could resume in Pakistan within days. Speaking to CNBC at the IMF spring meetings, Pakistani finance minister Muhammed Aurangzeb said he was optimistic for a diplomatic solution to the crisis. The IMF has slashed its global growth forecast outlining three scenarios – weaker, worse or severe. IMF chief economist Pierre-Olivier Gourinchas tells CNBC that even the best outcome would feature a ‘very significant downgrade’. Chip maker ASML hikes it FY sales guidance to €40bn on strong A.I. demand. Luxury giant Kering posts a narrow Q1 miss due to weaker Gucci sales and faltering demand in the Middle East.
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