A look at economic developments around the globe

A look at economic developments and stock market activity around the world Monday:

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WASHINGTON _ The World Bank cut its 2009 global growth forecast, saying the world economy will shrink by 2.9 percent and warning that a drop in investment in developing countries will increase poverty. The multilateral lender said global trade is expected to plunge by 9.7 percent this year, while total gross domestic product for high-income countries contracts by 4.2 percent. It said economic growth in developing countries should slow to 1.2 percent _ but excluding relatively strong China and India, developing economies will contract by 1.6 percent.

The bank's …