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Tens of millions more expected to lose employer-based insurance in US by 2021
Oct 04, 2020 16:42The New York Times has recently reported that although some small businesses across the US were able to use funds from the Paycheck Protection Program (PPP) to cover their employees' health benefits, nearly a third of employers reported to Harvard Business School researchers in August that they didn't think they'd be able to pay for premiums this month and going forward.
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US economy contracts at 31.4% in second quarter of 2020
Sep 30, 2020 14:06The US economy has witnessed sharpest contraction in decades during the second quarter of 2020 due to the coronavirus pandemic.
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How the pandemic deepened the poverty pit
Sep 29, 2020 16:38From about 1990, ever more families acquired a safety net. That might be bank savings, a sibling in New Delhi or New York sending money home or a state clinic providing free basic health care. They were crossing the great human divide that separates the defenseless from the protected. Then came this year’s unprecedented shock. Because COVID-19 is global, it often shreds all a family’s safety nets at once.
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Qatar Airways got $1.95 billion government lifeline after losses widened
Sep 27, 2020 12:24Qatar Airways received a 7.3 billion riyals ($1.95 billion) lifeline from the Qatar government after losing 7 billion riyals in the year to March 31, the state-owned group disclosed on Sunday.
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Global income from work dropped by $3.5 trillion due to virus
Sep 24, 2020 08:57Income earned from work globally had a drop of an estimated 10.7%, or $3.5 trillion, in the first nine months of 2020 in comparison to the same period a year ago, the International Labour Organization (ILO) said on Wednesday.
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Curb climate fear to tackle other priorities
Aug 28, 2020 11:31One survey of 28 countries shows that almost half of all people believe climate change will likely lead to the extinction of the human race. Global warming is a real challenge and a problem we need to tackle. But the alarmism makes it difficult for us to think smartly about climate solutions, and it swamps our attention away from the many other important global issues. Even before the coronavirus pandemic, this panic was vastly exaggerated.
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IMF chief warns global economy 'not out of the woods'
Jul 16, 2020 05:55IMF chief Kristalina Georgieva has warned of a possible second wave of the coronavirus, urging countries around the world to keep their support programs in place.
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World economy to contract at least 6% in 2020: OECD
Jun 10, 2020 10:24The global economy will contract at least six percent this year, with the unprecedented loss of income and "extraordinary uncertainty" caused by measures to contain the coronavirus outbreak, the Organization for Economic Cooperation and Development (OECD) says.
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Coronavirus crisis could cost global economy $82 trillion: Report
May 21, 2020 08:31The coronavirus pandemic could cost the global economy up to $82 trillion as most countries have slid into a serious recession due to the fallout of the fatal disease, a new report shows.
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Coronavirus impact could compare to Great Depression
May 08, 2020 14:53The current coronavirus pandemic will cause individual economies to plunge into recession; businesses will close down and jobs will be lost at similar levels to that of the Great Depression. Moreover, the pandemic is impacting both industrial and developing countries; whereas the Great Depression was largely concentrated in industrial countries.