Greece’s prime minister has said he will not accept strict EU conditions on the use of coronavirus emergency aid, in a sign of the difficult negotiations ahead for the bloc’s leaders on its proposed €750bn recovery fund. Kyriakos Mitsotakis told the Financial Times in an interview that he would not countenance a return of the strict and unpopular oversight imposed on his country by the “troika” of EU, European Central Bank and IMF officials during the debt crisis “forcing us to do reforms” even though “there was never really any domestic buy-in”. Sweden, Finland, Denmark and the Netherlands are opposed to the European Commission’s plans for the recovery fund and are pushing for so-called “conditionality” to be applied to EU money to ensure it is spent to improve competitiveness.
The coronavirus pandemic is undoing decades of progress in poverty reduction as millions of people’s livelihoods are threatened in the world’s poorest countries. Since 1990, more than 1bn people around the world have escaped extreme poverty, according to the World Bank, which defines it as living below $1.90 per person per day.
This is just a smattering of what experts tell me the office of the very near future might look like in the age of Covid-19. If more follow, it is not impossible to imagine office costs easing which could in turn lower the pressure for hot-desking as we know it.
Twenty years before Neil Woodford’s spectacular fall from grace, the demise of another famed UK value investor dominated the headlines. Tony Dye, the fund manager dubbed Dr Doom for his views on the overvaluation of equities during the late 1990s tech bubble, was unceremoniously ousted in early 2000 after investors lost patience with his underperforming funds. In a cruel twist of fate for the late Mr Dye, the dotcom bubble burst just a few weeks afterwards, proving his thesis correct and rewarding his style of value investing.
In mid-March, when Philippine president Rodrigo Duterte declared a “state of calamity” after a spike in Covid-19 cases, economic and social stability in the developing archipelago nation was looking precarious. While the government scrambled to marshal its resources to fight the pandemic, managers at Ayala, the family-controlled conglomerate, were already at work on their own coronavirus response. In early March, Ayala’s chief executive, Jaime Augusto Zobel de Ayala, 61, and his younger brother Fernando, CEO of the group’s land division, began their brainstorming at a meeting of the group’s operating companies, which include property, construction, water, the country’s second-biggest telecoms company — Globe — and the Bank of the Philippine Islands.
Lemonade, the SoftBank-backed home insurance start-up, got its long awaited IPO away last week and enjoyed a big initial price jump. Lemonade is one of the big hopes of the emerging “insurtech” sector, with investors betting that its combination of slick technology and new ideas about how to sell insurance will bring in ranks of new customers. The industry is “ripe for disruption”, said Hugh Tallents of consultancy cg42.
(Bloomberg) -- Mexico surpassed France in the number of fatalities from the coronavirus outbreak, while Australians quarantined in Melbourne will get hardship payments and rent will be suspended as authorities enforce a lockdown on hot spots.The World Health Organization reported a one-day high for global coronavirus cases, led by the Americas, as U.S. cases rose 1.7%. Florida and Texas recorded new virus records. U.S. President Donald Trump said a vaccine remedy will be ready by the end of the year.In India, the number of confirmed cases climbed 7.2% to 648,315 on Sunday from the prior say. A sports agent said he’s confident U.S. baseball can resume, citing success in three Asia nations.Key Developments:Global Tracker: Cases top 11.1 million; Deaths exceed 528,000Cheers? English pubs shake off lockdown into uncertain worldAmericans aren’t much interested in going out and spendingLow-income U.S. households suffer inflation shock from virusSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus.Australia Offers Assistance to Citizens in Lockdown (11:26 a.m. HK)About 3,000 people quarantined in public-housing tower blocks in Melbourne will get hardship payments and their rent will be suspended, Victorian State Premier Daniel Andrews said on Sunday. Residents of the buildings who have jobs but are unable to work because of the lockdown will receive a hardship payment of A$1,500 ($1,040) per household, while families with no one employed will get a A$750 check, Andrews said at a press conference.The state government’s announcement Saturday marked the toughest coronavirus control measures in Australia to date, with police moving in overnight to cordon off nine public-housing towers for at least five days in an effort to test every resident following a week of surging case counts.India Cases Rise 7.2% (10 a.m. HK)The number of confirmed cases in the coronavirus outbreak in India has risen 7.2% from Saturday to 648,315, according to data collected by Johns Hopkins University and Bloomberg News.Mexico Is Now Fifth in Covid-19 Deaths (8:06 a.m. HK)Deaths in the North American country reached 30,366, overtaking France, while the number of infections rose by a daily record 6,914 to 252,165, according to data released by the Health Ministry Saturday night. Mexico also overtook Spain this week as the pandemic’s toll on the country continued to mount.Like in other Latin American countries, Mexican officials have had to balance their response to the virus with consideration for significant groups of people who must work to meet basic daily needs. President Andres Manuel Lopez Obrador has largely focused on reactivating the economy over imposing strict lockdowns.Trump Vows Vaccine, Therapeutic By Year-End (7:15 a.m. HK)President Donald Trump said a “therapeutic or vaccine solution” for the coronavirus will be ready before the end of the year, without offering any details.“We are now doing unbelievably well” on remedies, and “deep testing” on vaccines is under way, Trump said at a July 4 event at the White House. U.S. infectious disease expert Anthony Fauci has said a vaccine could be ready by early next year.“We’ve made a lot of progress, our strategy has moved along well,” Trump said of the response. “We’ve learned how to put out the flame.”Man in 9/11 Photo Dies of Covid-19 (5:15 p.m. NY)A New York electrical engineer photographed in a crowd fleeing the smoking World Trade Center in 2001 died of the coronavirus, the Palm Beach Post reported, citing his family. Stephen Cooper, 78, died March 28 in Delray Beach, Florida, where he lived part-time. The photograph was widely published and is part of the 9/11 Memorial Museum in New York.U.S. Cases Rise in Line With Week’s Average (4 p.m. NY)Coronavirus cases in the U.S. increased by more than 46,000 from the same time on Friday, to 2.82 million, according to data collected by Johns Hopkins University. The 1.7% increase was below the average daily increase of 1.8% over the past week. Fatalities rose 0.3% to 129,601.Florida reported another record jump in Covid-19 cases, rising by 11,458 cases, or 6.4%. That’s compared with the seven-day average of 5.5%, for a total of 190,052 cases. Another 18 people died, the fewest since June 22, for a total of 3,702.New York, once the nation’s epicenter for the outbreak, reported a 0.2% rise in cases, in line with the past 7 days, or 726 cases. The state’s total is now 396,598. Eleven more people died, for a total of 24,896.California reported 6,510 new cases, and increase of 2.6%. In total, 254,745 people have tested positive. The number of deaths rose by 50 to 6,313. The state website warned some data might be delayed from Los Angeles County.Arizona reported 2,695 new cases, a 2.9% rise from a day earlier. It was the slowest rate of increase in five days, and below the record for daily cases set on Wednesday. Cases in the state have been rising at a 4.4% rate over the past seven days and now stand at 94,553.New Jersey reported 303 new cases, for a total of 173,033. That is a slight drop from 386 reported the day before. The state had 25 deaths, down from 58 the day before, for a total of 13,333.Trump Again Blames Testing for Case Rise (3:04 p.m. NY)President Donald Trump again blamed the amount of testing for the record rise in U.S. Covid-19 cases. “Cases, Cases, Cases! If we didn’t test so much and so successfully, we would have very few cases,” he tweeted.But many health experts point out the percentage of those testing positive is also rising. In Florida, his home state, 14% of tests on Friday came back positive -- a daily rate that has topped 10% since June 25 -- compared with his former home of New York, which had a positive rate of 1.2% on Friday.WHO Ends One Malaria Drug Trial (2:30 p.m. NY)The World Health Organization halted one of the clinical trials of hydroxychloroquine, touted by President Donald Trump for Covid-19, and lopinavir/ritonavir, accepting a steering committee recommendation.WHO set up the so-called Solidarity Trial to find a treatment for patients in hospitals, but interim results showed the two drugs did little to reduce mortality rates while not adding to the risk of death.This decision doesn’t affect possible evaluation in other studies of the two drugs in non-hospitalized patients or as pre- or post-exposure protection for Covid-19, the agency said in a statement. Trump took hydroxychloroquine in May.Johnson Dad Defends Trip Despite Guidance (2 p.m. NY)The father of U.K. Prime Minister Boris Johnson defended his trip to Greece this weekend made after the government advised British citizens to avoid all but essential international travel, including to Greece.Stanley Johnson, 79, said his visit was “essential business” because he needed to “Covid-proof my property” ahead of the rental season, the Press Association reported. The elder Johnson, who owns a villa in Greece, earlier posted a picture on social media as he arrived wearing a face mask: “I didn’t put them up... in a spirit of defiance, or anything like that,” he told reporters, the PA said.Boris Johnson refused to condemn his father for the apparent breach of travel guidance during a radio call-in program on a London sation.WHO Reports Most New Cases for a Day (12:25 p.m. NY)The World Health Organization reported a record 212,326 new coronavirus cases in the 24 hours ended early Saturday, the first infection total to top 200,000. The WHO has reported more than 163,000 new cases every day for the past week, led by a rise in the Americas.The Americas region — chiefly the U.S. and Brazil — account for 61% of all new cases, followed by Southeast Asia, which made up 12% of the daily infections. Europe, once an epicenter for the outbreak, represented 9.3%, the WHO daily report showed. Cases in the U.S. and Brazil were 48% of the global total.The Americas make up 51% of all cases, or 5.58 million of 10.92 million, followed by Europe with 25% and the Eastern Mediterranean, including the Middle East, with 10%. The WHO total often lags behind tallies from John Hopkins University, which showed 11.13 million cases as of midday Saturday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
At an estimated annual cost of about $300 billion, the American people have been suffering from the consequences of healthcare fraudsters for a long time. What Is Healthcare Fraud? Healthcare fraud comes in many forms, but can be generally defined as any crime that is committed that is involved with defrauding a health insurance policy says Dallas area criminal defense lawyer Clint Broden.
Singapore's High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it described as 'suspicious' deals involving oil major BP <BP.L>, according to an affidavit filed with the court this week and reviewed by Reuters. Hontop, the trading arm of Chinese independent refiner China Wanda Holding Group Co Ltd, is one of four commodity trading firms in Singapore which ran into financial trouble as the oil price crashed.
Few things rile up American men like the cost of razor-blade cartridges. That’s why our columnist strops his razor, shaves infrequently, and is always happy to get a deal on blades.
Hang Lung Properties is delighted to have hosted the Graduation Ceremony for this year's Hang Lung Young Architects Program yesterday (July 4), bringing together over 300 students, school representatives, mentors and architect leaders for the online convocation and celebration of students'achievements. The winners of the "Sketch Your Sky" Creative Project, a key element of the program, were also announced during the ceremony. In light of the COVID-19 pandemic, this year's Program switched a series of activities, including workshops, seminars, and walking tours, from offline to online, providing over 11,000 training hours to student participants.
Britain's government will double the number of its job coaches as part of a plan to tackle a rise in unemployment triggered by the coronavirus lockdown, the finance ministry said on Saturday. The number of work coaches at British job centres will double to 27,000 at a cost of 800 million pounds ($997 million), the ministry said. Finance minister Rishi Sunak is due to announce on Wednesday his next steps for steering the world's fifth-biggest economy away from its lockdown slump which caused a 20% contraction in output in April.
Toronto, July 04, 2020 -- According to the EPA, Indoor Air Quality (IAQ) refers to air quality within and around buildings and structures. Because indoor air pollutants can.
Apropos of nothing immediately apparent other than the national holiday, Kanye West took to social media Saturday night to announce that he is running for president… in 2020. "We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States," […]