The IMF on Tuesday forecast a deeper global recession than initially anticipated, as business closures, travel restrictions and social distancing measures persist in most countries. It now anticipates a global GDP contraction of 4.9% this year and a total output loss of $12 trillion through the end of 2021

UN chief criticises lack of global cooperation on COVID-19

Jun 25, 2020

Secretary-General Antonio Guterres said it’s important to use that fact to make countries understand that bringing them together, putting together their capacities, not only in fighting the pandemic in a coordinated way but in working together to have the treatments, testing mechanisms, the vaccines accessible to everybody, that this is the way we defeat the pandemic.

SoftBank-backed Lemonade plans to raise up to $286 million in IPO

Jun 25, 2020

The company, which started in New York in late 2016, is part of a growing number of young companies looking to shake up the insurance sector through a better use of technology.

The company says it has digitized the entire insurance process, replacing brokers and paperwork with algorithms and providing policies in as little as 90 seconds and claim payments in three minutes.

WHO warns of oxygen shortage as COVID cases set to top 10 milli

Jun 25, 2020

The new coronavirus has hit 9.3 million people and killed more than 480,000 so far and is rising by about 1 million cases per week. This has pushed oxygen demand to 88,000 large cylinders per day, or 620,000 cubic metres of oxygen, WHO Director General Tedros Adhanom Ghebreyesus said.

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