The 10 most important things in the world right now
Good morning! Here's what you need to know on Wednesday.
1. Organised crime prosecutors raided the offices of the Mossack Fonseca law firm looking for evidence of money laundering and financing terrorism following the leak of the 'Panama Papers.' Mossack Fonseca has denied any wrongdoing.
2. China's exports surged by 11.5% in US dollar denominated terms from March 2015, authorities announced on Wednesday, in a positive sign for the world's second-largest economy.
3. David Gest, the former husband of actress Liza Minnelli, was found dead in a London hotel on Tuesday. The 62-year-old music producer and TV personality was found in the Four Seasons Hotel in Canary Wharf, according to The Sun.
4. The International Monetary Fund (IMF) has warned that a so-called Brexit - Britain leaving the European Union - is a "real possibility" and could cause "severe regional and global damage."
5. Dozens of heavily-armed military police swooped on Amsterdam's Schiphol airport, arresting one man in a four-hour security operation which began on Tuesday night and lasted into early Wednesday morning.
6. Nomura, one of the largest Japanese banks, is set to slash hundreds of jobs as it shuts down parts of its European equities business, including research, equities derivatives, and underwriting.
7. Two members of the British rock band Led Zeppelin will go to court in Los Angeles on May 10 over a copyright dispute regarding the song "Stairway to Heaven." A trustee for the estate of American bank Spirit claims Led Zeppelin copied the introduction of one of its songs.
8. South Koreans voted on Wednesday to elect a new parliament. The ruling conservatives are expected to regain a majority despite a sluggish economy. Polls close at 6:00 p.m. (09:00 a.m. GMT).
9. Teen clothing retailer American Apparel is laying off hundreds of workers as it overhauls its production process, which could include outsourcing part of its production to another US manufacturer, the Los Angeles Times is reporting.
10. House Speaker Paul Ryan announced on Tuesday that he's ruling out a potential late bid for the presidency. "I do not want, nor will I accept, the nomination for our party," Ryan said in his speech.
And finally ... These are the 19 most expensive holiday destinations in the world.
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