News Notes:Citi's Internet Calls;Best Investment Banks 2013

The IMF has reduced its estimate of world growth to 3.1%,down from 3.3% in April.For 2014,it sees China growth at 8.2% and India at 6.2%. Citigroup has initiated coverage of major Internet stocks.LinkedIn,Netflix and Facebook are rated neutral. Facebook is a relatively young company going through a transition,said Citi analyst Mark May.Amazon,Google,eBay and AOL are buys.Yelp is a sell. Key Internet themes are the shift from PCs to mobile;the emergence of adtech;and the proliferation of data. The US-China Strategic and Economic Dialogue has begun,led by Secretary of State John Kerry.BMW sees China as its top 2013 market,based on its growth in small cities. GE Oil and Gas is establishing its global headquarters in London. Global Finance magazine has named its Best Investment Banks 2013.Global winners include J.P.Morgan,Best Investment Bank;Bank of America Merrill Lynch,Best in Emerging Markets;Qatar National Bank,Best in Frontier Markets;and Goldman Sachs,Best M&A Bank. Global Finance said J.P.Morgan grew market share across the board because of its loyal client base;a long term startegy of embracing regulatory reform;a legendary corporate lending legacy;and the integration of equity underwriting talent from Bear Stearns,which it acquired in 2008. It made a world-leading 465 billion dollars for its clients through 2,164 bond deals;and earned more than 5.6 billion in investment banking fees,the best in class. JP Morgan Chase(JPM),Amazon(AMZN),Goldman Sachs(GS)