News Today - Apr 16

* China down but not out, GDP rises 6.1% in first quarter, but government sounds cautious note
Beijing releases economic growth numbers just above market expectations, slower than the previous quarter but possibly marking a sign that slowdown is bottoming.

* The US economy continued to worsen across the United States in March and early April, amid scattered signs that the pace of the decline was lessening in some regions, the Federal Reserve reported Wednesday in its Beige Book account of the economy.

* Biggest recessionary output drop since World War II
U.S. production falls 1.5% in March, despite bounce in autos and utilities.

* Infosys' Q4 performance and FY10 guidance confirm the weakening fundamentals of country's export-driven IT sector says no layoffs no salary hikes.

* The US Treasury Department said Wednesday its latest monthly survey of lending activities at the nation's biggest banks showed nine reported increases and 12 posted declines. The median, or midpoint, for lending activity dipped 2.2 percent in February.

* Switzerland's largest bank UBS will shed nearly 9,000 more employees as it tries to recover from the global financial crisis, its CEO said Wednesday. full story

* Treasury Secretary Tim Geithner will host a meeting of international finance ministers next week, the Treasury Department said Monday.