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Rich Economies Set to Recover More Quickly From Covid-19 Contractions

By Paul Hannon 

China and other rich countries will suffer less economic damage from the coronavirus pandemic than previously feared, according to the Organization for Economic Cooperation and Development, but the global public health emergency will exact a higher toll on the economies of poor countries.

The Paris-based research body Wednesday said the global economy will contract less sharply this year than it thought likely in June, but warned that the recovery is set to slow from this month and remain vulnerable to fresh outbreaks. The OECD doesn’t expect a vaccine to be widely available until the end of next year.

“Momentum appears to be plateauing and confidence remains weak,” said Laurence Boone, the OECD’s chief economist.

In the latest of its quarterly reports on the global economy, the research body said it now expects the U.S. economy to shrink by 3.8% this year, having forecast a decline of 7.3%

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Rich Countries Set to Recover More Quickly From Covid-19 Contractions

By Paul Hannon 

China and other rich countries will suffer less economic damage from the coronavirus pandemic than previously feared, according to the Organization for Economic Cooperation and Development, but the global public health emergency will exact a higher toll on the economies of poor countries.

The Paris-based research body Wednesday said the global economy will contract less sharply this year than it thought likely in June, but warned that the recovery is set to slow from this month and remain vulnerable to fresh outbreaks. The OECD doesn’t expect a vaccine to be widely available until the end of next year.

“Momentum appears to be plateauing and confidence remains weak,” said Laurence Boone, the OECD’s chief economist.

In the latest of its quarterly reports on the global economy, the research body said it now expects the U.S. economy to shrink by 3.8% this year, having forecast a decline of 7.3%

Read More
Continue Reading Rich Countries Set to Recover More Quickly From Covid-19 Contractions
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While private insurers recover, LIC gains market share ahead of its IPO

India’s life insurers have shown a smart recovery from the covid-19 pandemic that hit businesses in the first quarter of FY21. But for their shares to reflect this, investors would prefer to wait for a few more months.

Latest data from the sector regulator shows that private life insurers saw their new business premium collection growing by 13.7% year-on-year (y-o-y) in August, much better than around 6% rise in July.

For the June quarter, private life insurers had seen a sharp contraction in new business premium. The improvement in July and August augurs well for insurers, but the key will be to sustain the numbers. The management commentary that followed June quarter results has been positive in terms of recovery. Within private players, HDFC Life Insurance showed a sharp recovery with 14% growth in individual annualized premium equivalent (APE). HDFC Life has been able to push its products more than

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Generation Work-From-Home May Never Recover

To have a job without a workplace, you must build an office of the mind. Structure, routine, focus, socialization, networking, stress relief—their creation is almost entirely up to you, alone in a spare bedroom or on your couch, where your laptop might vie for attention at any given moment with your pets or kids. If the coffeepot runs dry, there is no one to blame but yourself.

The first time I undertook this construction process was in 2009, and it was an abject failure. I was nine months out of college and had already been laid off from my first full-time job, thanks to Wall Street’s evisceration of the American economy. A woman I knew only from an internet message board hired me to write blog posts for her fashion website, a stroke of luck that turned me nocturnal within six weeks. I lived like a 13-year-old on perpetual summer

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