Hong Kong (CNN Business)The economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific unless “urgent action” is taken, the World Bank warned in a report released Monday. In the worse-case scenario outlined by the Washington-based financial institution, the region could suffer its sharpest downturn in more than two […]
Read moreUS stocks slid Tuesday as the coronavirus pandemic put Wall Street on track to end its worst three-month period in decades. The Dow Jones industrial average dropped as much as 191.02 points, or 0.8 percent, at the open after posting gains in four of the past five trading days. The blue-chip index was down 21.7 percent for the year through […]
Read moreAkero Therapeutics Inc.’s (AKRO) phase IIa study of its investigational drug AKR-001 in patients with biopsy-confirmed nonalcoholic steatohepatitis, or NASH, has met the primary endpoint. In the study, dubbed BALANCED, all AKR-001 dose groups, say 28mg, 50 mg, and 70 mg, met the primary endpoint, with statistically significant absolute reductions in liver fat of 12-14% at Week 12. Similarly, all […]
Read moreReversals in positioning that may show sellers are exhausted. Extreme readings in market breadth, pointing to washouts in investor sentiment. Rallies in stocks targeted by shorts. In trying to pick the bottom in equities, Wall Street has little choice but to rely on signals that worked in the past. It’s a risky kind of logic when confronting a threat that […]
Read moreCoronavirus (COVID-19) is having a devastating impact not only in the UK but around the world, affecting people’s health and having a financial impact on vast numbers of people too. In a bid to help those concerned about money during this difficult time, Martin Lewis was on hand to answer coronavirus-themed queries during The Emma Barnett Show on BBC Radio Five Live […]
Read moreMSNBC’s Chris Hayes and CNN’s Don Lemon have joined the growing calls for cable networks ― including their own ― not to broadcast President Donald Trump’s daily briefings on the coronavirus pandemic live. Last week, MSNBC’s Rachel Maddow said if it were to her “I would stop putting those briefings on live TV. Not out of spite, but because it’s misinformation.” […]
Read moreShockwaves went through the film and TV community this morning when Disney, one of the biggest media companies in the world, became the first entertainment conglom of that size to implement massive pay cuts related to the ongoing coronavirus pandemic. It is probably not how the company’s leadership had planned to mark the one one year anniversary of the $71.3 […]
Read more‘One by one we are seeing these private banks taking people’s money and mismanaging it.’‘In the last 30 years, 30 private banks have collapsed.’‘Nationalise all banks so that people’s money is safe.’ Will the clamour for privatising public sector banks stop now that Yes Bank, a private bank run by ‘professionals’, faced setbacks due to reported mismanagement? Was it a […]
Read moreEurope is expected to start stabilizing soon, the World Health Organization said, as Italy saw the slowest rate of new cases in almost two weeks. New York also said new infections are slowing, even as it reported a 26% increase in deaths. President Donald Trump said a national stay-at-home order is “pretty unlikely,” and said the U.S. might expand the […]
Read moreWill coronavirus hit again in the fall? President Trump and Dr. Anthony Fauci say the United States will be prepared should the coronavirus reappear in the future. (Reuters) – Airbnb said on Monday it was allocating $250 million to help offset losses by hosts around the world whose guests have canceled bookings in the face of the coronavirus pandemic, following […]
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