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Here is a masonry blog layout with no sidebarLong-lasting global recession likely due to COVID-19, says World Economic Forum report
“The crisis has devastated lives and livelihoods. It has triggered an economic crisis with far-reaching implications and revealed the inadequacies of the past,” said Saadia Zahidi, managing director of the World Economic Forum.
Environmental goals risk being discarded as a result of the pandemic, the report said, but governments should try to carve out a “green recovery”.
“We now have a unique opportunity to use this crisis to do things differently and build back better economies that are more sustainable, resilient and inclusive,” Zahidi said.
UK’s Covid-19 Support Fund by insurers aims to raise £100 million
IRDA to extend renewal payment date for motor & health policies till June 1st week
Citigroup launches new ESG investment banking group
“The current Covid crisis will elevate the importance of ESG to our clients, as they increasingly focus on more sustainable and resilient strategies and on recovery plans that help drive the just transition to a net-zero emissions future,” global BCMA heads Tyler Dickson and Manolo Falcó said in a memo to bankers sent on Tuesday.
Companies have become more focused on environmental, social and governance (ESG) factors in recent years as activists and investors put pressure on them and companies that put these considerations at the forefront are rewarded.
Coronavirus impact:Foreign investors look to exit India, withdraw $6.4 billion in March quarter
World Bank says COVID-19 to push 60 million into poverty; announces $160 billion assistance to 100 countries
WHO states agree to independent probe of UN agency’s coronavirus response
Countries taking part in the WHO’s annual assembly, being held virtually for the first time, adopted a resolution by consensus urging a joint response to the crisis.
The resolution, tabled by the European Union, called for an “impartial, independent and comprehensive evaluation” of the international response to the pandemic, which has so far infected more than 4.8 million people and killed over 318,000.
Microsoft to adapt its cloud software for healthcare industry
Global CO2 emissions could fall by up to 7% this year amid pandemic: research
China saw the largest drop in emissions in April, followed by the United States, Europe and India.
In the countries with the strictest lockdown restrictions, emissions from aviation plunged 75% in early April, while emissions from land transport fell by 50% and from power generation by 15%.Emissions from industry declined by around 35%, with a lack of data causing some uncertainty. Emissions from residential buildings, however, increased by 5%, the study said.
Johnson & Johnson to stop selling talc-based baby powder in U.S. and Canada
J&J faces more than 16,000 lawsuits from consumers claiming its talc products, including Johnson’s Baby Powder, caused their cancer. The majority are pending before a U.S. district judge in New Jersey.
The lawsuits allege that the company’s talc products have been contaminated with asbestos, a known carcinogen. J&J said it “remains steadfastly confident in the safety of talc-based Johnson’s Baby Powder,” citing “decades of scientific studies.”In April, a New Jersey judge ruled that thousands of plaintiffs who allege that J&J’s talc products caused cancer can go forward with their claims, but face limits on what expert testimony will be allowed in trials.
Amphan turns Super Cyclone, Odisha initiates evacuation
COVID-19: Centre lists parameters for states to delineate red, orange, green zones
For active cases per lakh population, the critical threshold would be when more than 15, while for doubling rate calculated over a seven-day period, the critical level would be less than 14 days and desirable when more than 28 days.
As for case fatality rate, more than six per cent would be considered critical and less than one per cent desirable. The critical threshold for testing ratio (number of tests per lakh population) would be less than 65 while the desirable level would be more than 200, according to the letter.
COVID-19 to accelerate use of drone technology among insurers, says GlobalData
Drone technology will become more widespread in insurance as natural disasters hit different geographies. Climate change has worsened extreme weather conditions such as hurricanes, floods, and tsunamis as well as non-weather natural disasters like earthquakes, volcanoes, and wildfires. After a disaster during the lockdowns, home insurers can use drones to inspect properties while still social distancing.
Moderna’s COVID-19 vaccine shows promise in early study, shares soar
Outbreak at Chinese-owned factory shows challenges of easing India’s lockdown
WHO oversight body backs pandemic review, suggests reforms
“An imperfect and evolving understanding is not unusual during the early phase of a novel disease emergence. Many uncertainties still remain about COVID-19,” the seven-member panel said. It warned that “rising politicization of pandemic response” is impeding defeat of the virus, adding: “WHO cannot succeed without unified global political support”.
IMF chief warns full global economic recovery unlikely in 2021
“We do need to keep trade flows open, especially for medical supplies, food, and longer-term to find a pathway to overcome what is happening now with this crisis,” Georgieva said. “We want to continue to build this more prosperous future for all by overcoming the scarring that may come from this crisis.”
Over 2 million UK self-employed claim COVID grants – Sunak
The scheme, which was launched last week and provides grants of up to 7,500 pounds, is part of the government’s attempts to soften the hit of the coronavirus shutdown on the economy.
Sunak said the centrepiece of Britain’s economic policy response to COVID-19 – a programme to pay 80% of the wages of temporarily laid-off employees – now covered 8 million workers.