Banks eye layoffs as short-term disaster ends, long-term prices emerge: On the top of the coronavirus pandemic final spring, the heads of U.S. banks, together with Morgan Stanley and Bank of America Corp, pledged to not minimize any jobs this 12 months. Nevertheless, as executives put together for an prolonged recession and loan losses that include it, layoffs are again on the desk, stated consultants, trade insiders and compensation analysts. Learn extra right here
Let’s take a look at the worldwide statistics:
Whole Confirmed Circumstances: 2,47,65,771
Change Over Yesterday: 2,84,607
Whole Deaths: 8,37,559
Whole Recovered: 1,62,07,881
Nations hit with most instances: US (59,17,817), Brazil (38,04,803), India (34,63,972), Russia (9,82,572) and Peru (6,29,961)
Supply: Johns Hopkins Coronavirus Analysis Heart
Hong Kong’s begins free coronavirus checks for all: Hong Kong is about to embark on the world’s largest experiment in voluntary testing and hopes Three million residents will come ahead for the train. Roughly 30,000 individuals registered inside the first 5 hours. Learn extra right here
White Home suggests $1.Three trillion coronavirus support invoice: President Donald Trump is keen to signal a $1.Three trillion coronavirus reduction invoice. Hours later, Democratic Home of Representatives Speaker Nancy Pelosi in an announcement repeated her name for a $2.2 trillion invoice and stated Meadows’ provide wouldn’t meet the wants. Learn extra right here
China’s Wuhan says all colleges to reopen on Tuesday: Wuhan, Floor Zero for the Covid-19 pandemic, will reopen all its colleges and kindergartens on Tuesday, native authorities stated. As many as 2,842 instructional establishments are set to open their doorways to nearly 1.four million college students. Learn extra right here
Indonesia reviews report new coronavirus instances for third day: Indonesia reported its largest rise in new coronavirus infections for a 3rd successive day on Saturday. Saturday’s 3,308 instances take Indonesia’s tally of infections to 1,69,195, whereas 92 new deaths carried its toll to 7,261. Learn extra right here
Specials
How WeChat censored the coronavirus pandemic
Politically delicate materials, like references to the 1989 Tiananmen Sq. protests, have lengthy been forbidden on China’s extremely censored web, however researchers on the College of Toronto’s Citizen Lab say these efforts reached a brand new degree throughout the pandemic. It’s newest report, revealed earlier this week, finds that between January and May this 12 months, greater than 2,000 key phrases associated to the pandemic had been suppressed on the Chinese language messaging platform WeChat, which has greater than 1 billion customers within the nation. Learn extra right here
Premier League plots stadium reopenings to keep away from lossmaking season
Coronavirus-related losses at English soccer’s prime tier golf equipment are projected to be £850 million for final season, primarily attributable to misplaced matchday revenue with supporters unable to attend video games since February. The Premier League additionally agreed a £330 million rebate with broadcasters to compensate for the shortage of motion throughout lockdown. It’s plotting a monetary restoration. Talks are beneath manner for the partial reopening of stadiums and a deal has been reached with broadcasters to stop additional rebates. In the meantime, groups are searching for to spend much less cash within the multibillion pound switch market. Learn extra right here
Disrupted education will deepen inequality for American college students
Of the 50 largest college districts in America, 35 plan to start out the approaching time period fully remotely. The chance to squelch the virus over the summer time has been misplaced, upending plans for “hybrid” schooling (part-time in-person instruction). This implies extra than simply child-care complications for fogeys. The continued disruption to education will in all probability spell everlasting studying loss, disproportionately hurting poorer pupils. Learn extra right here
