Over the past few days,

"Strengthening the public finances remains a priority... including through the upcoming Spending Review," the OECD said.It suggested closing tax loopholes and re-evaluating council tax bands based on updated property values.

Under the current system, council tax in England is calculated based on the price the property would have sold for in April 1991. For Wales, it is evaluated on property prices in April 2003.Meanwhile, worldwide growth is now expected to slow to a "modest" 2.9%, down from a previous forecast of 3.1%, the OECD said.It blamed a "significant" rise in trade barriers and warned that "weakened economic prospects will be felt around the world, with almost no exception".

The OECD's comments come as Bank of England governor Andrew Bailey told a Treasury Select Committee on Wednesday that the global system of trade agreements had been "blown up to a considerable degree" by global trade tensions.Since US President Donald Trump returned to the White House, a long list of countries have been targeted by tariffs, but Trump's unpredictable approach to implementing the measures has created widespread uncertainty.

"We are forecasting basically a downgrade for almost everybody," Alvaro Pereira, the OECD's chief economist told the BBC.

"We'll have a lot less growth and job creation than we had forecasted in the past."In the lawsuit, Aldi is accused of trademark infringement, unfair competition and unjust enrichment. Mondelēz said it is seeking damages.

Mondelēz described Aldi's business model as hinging on "low-priced private label products that resemble the look and feel of well-known brands".Aldi, which has its headquarters in Germany, is known as a discount supermarket offering affordable alternatives to well-known brands.

There are over 2,500 Aldi shops in the US.This is not the first time Aldi has been embroiled in a trademark battle. Earlier this year, it lost a battle with Cider producers Thatchers, which accused the supermarket of copying its drink in "taste and appearance".