Tom Petty, the heartland rocker behind hits such as "American Girl," will be honored at a gala ahead of next year's Grammy Awards, it was announced Wednesday. The Recording Academy, which organizes the music industry's biggest night, named Petty as 2017's Musicares Person of the Year to be feted in a concert before the awards. "Tom burst into our musical consciousness and never let go," Recording Academy president Neil Portnow said in a statement.
The head of the IMF on Wednesday renewed warnings against protectionism and trade restrictions, saying the global economy risked prolonged low growth and advanced economies faced painful inequality. Christine Lagarde, the International Monetary Fund's managing director, said the current global recovery was still fragile following the Great Recession of 2008-2009, and that populist political currents rising in the developed world threatened to undo the progress made. "Especially for advanced economies, while there are some good signs the overall growth outlook remains subdued," Lagarde said in prepared remarks delivered at Northwestern University, near Chicago.