Cyberthreats and the growing space race are emerging risks to the global economy, adding to existing challenges posed by climate change and the coronavirus pandemic, the World Economic Forum said in a report Tuesday. The Global Risks Report is usually released ahead of the annual elite winter gathering of CEOs and world leaders in the… Continue reading World Economic Forum Warns Cyber Risks Add to Climate Threat
Tag: coronavirus
Most Americans Didn’t Opt to Raid 401(k) Amid COVID
Despite the financial toll of the coronavirus pandemic, few American households have raided their retirement accounts to make ends meet. Faced with the prospect of surging unemployment and a declining economy, Congress in March passed a law that temporarily allows Americans to use their retirement money today. But so far, there hasn’t been a rush… Continue reading Most Americans Didn’t Opt to Raid 401(k) Amid COVID
Why Some State Economies Are Recovering Faster than Others Amid Pandemic
Six months into the pandemic, some states are recovering faster than others from the severe economic blow. In Maine, real estate is booming. In Nebraska, unemployment is below 5%. And in Rhode Island, small business employees have recently been working more hours than they did before the pandemic. As of last week, these states’ economies… Continue reading Why Some State Economies Are Recovering Faster than Others Amid Pandemic
Special Report: Big Pharma Wages Stealth War on Drug Price Watchdog
As evidence grew this spring that the drug remdesivir was helping COVID-19 patients, some Wall Street investors bet on analysts’ estimates that its maker, Gilead Sciences Inc, could charge up to $10,000 for the treatment. Then a small but increasingly influential drug-pricing research organization, the Institute for Clinical and Economic Review (ICER), said the treatment… Continue reading Special Report: Big Pharma Wages Stealth War on Drug Price Watchdog
Long-Term Complications of COVID-19 Signals Billions in Healthcare Costs Ahead
Late in March, Laura Gross, 72, was recovering from gall bladder surgery in her Fort Lee, New Jersey, home when she became sick again. Her throat, head and eyes hurt, her muscles and joints ached and she felt like she was in a fog. Her diagnosis was COVID-19. Four months later, these symptoms remain. Gross… Continue reading Long-Term Complications of COVID-19 Signals Billions in Healthcare Costs Ahead
COVID-19 Crisis Could Cost the Insurance Industry $107 Billion
Can small businesses count on insurance checks to replenish their coffers after Covid lockdowns? In most cases, probably not. Business-interruption insurance is typically part of a property policy and requires premises to sustain physical damage before a claim can be made. Since shutdowns have rarely damaged stores or factories, it has proven hard to make… Continue reading COVID-19 Crisis Could Cost the Insurance Industry $107 Billion
Protests Derail Comeback Plans for Restaurants and Retailers
Macy’s Inc. delayed the reopening of some stores shut by the coronavirus pandemic. Apple Inc. stores that had recently unlocked their doors were boarded back up. Chains from Kroger Co. to Popeyes have cut back their hours. And the CEOs of Starbucks Corp. and McDonald’s Corp. organized companywide discussions of the social unrest that has… Continue reading Protests Derail Comeback Plans for Restaurants and Retailers
Most Global Workers Confronted by Anxiety, Distractions, Financial Worries Due to Pandemic
Physical health and safety are not the only concerns affecting employees around the world as a majority report anxiety, distraction and financial worries, according to research by Willis Towers Watson, a leading global advisory, broking and solutions company. Despite their concerns, employees give their leaders good marks for their performance during the pandemic. Willis Towers… Continue reading Most Global Workers Confronted by Anxiety, Distractions, Financial Worries Due to Pandemic
COVID-19 Could Reduce Employer Health Care Costs Due to Care Deferral
COVID-19 could reduce employer health care costs by as much as 4% in 2020, as medical care for noninfected patients has declined during the pandemic, according to a new Willis Towers Watson analysis of large, self-funded employers. The analysis updates a similar study conducted last month that projected employer costs could rise by as much… Continue reading COVID-19 Could Reduce Employer Health Care Costs Due to Care Deferral
Chubb’s Greenberg: “What Won’t Cure Corona: Lawsuits”
Following is a commentary written by Chubb CEO Evan Greenberg for the Wall Street Journal. Coronavirus has delivered the most severe blow to the American economy since the Great Depression. The contraction in growth and spike in unemployment will add to the human misery as the health crisis unfolds. How long the disaster will last—or… Continue reading Chubb’s Greenberg: “What Won’t Cure Corona: Lawsuits”