The International Monetary Fund said Tuesday that the novel coronavirus will likely push the global economy into its worst recession since the Great Depression, warning that prospects over a global rebound are highly uncertain. Gita Gopinath, IMF Chief Economist, joined Yahoo Finance's Jen Rogers, Myles Udland, and Brian Cheung to discuss....
Johnson & Johnson announced plans to begin 'at risk' production of its COVID-19 vaccine as it scales up for eventual testing and manufacture of the vaccine....
(Bloomberg Opinion) -- This is Bloomberg Opinion Today, an Articles of Confederation of Bloomberg Opinion’s opinions. Sign up here.Today’s AgendaTrump doesn’t have total authority over states, which are going their own way … for better or worse. Quarantine’s a mixed bag even for companies selling media or alcohol. Don’t kill the Postal Service.States’ Rights and WrongsSome day in, say, 2023, when California is an independent nation and New Yorkers are citizens of the Free Republic of Cuomostan, we might look back at this pandemic as the moment when the whole “United States” thing went kablooey.OK, probably not. But this is certainly a time to consider the tensile strength of the national fabric, with 50 different states mostly just doing their own thing on the pandemic. President Donald Trump insists he has “total” authority over all, despite contrary evidence and his own refusal to coordinate action so far. Oh, and the Constitution....
(Bloomberg) -- The world’s richest person is getting richer, even in a pandemic, and perhaps because of it.With consumers stuck at home, they’re relying on Jeff Bezos’s Amazon.com Inc. more than ever. The retailer’s stock climbed 5.3% to a record Tuesday, lifting the founder’s net worth to $138.5 billion.The pandemic has brought the global economy to a near standstill and pushed almost 17 million Americans onto the unemployment rolls in the span of three weeks. JPMorgan Chase & Co. and Wells Fargo & Co. signaled Tuesday that loan losses fueled by the unprecedented job cuts -- many of them in the retail sector that Amazon so efficiently disrupted -- could rival those incurred after the 2008 financial crisis.Read more: Worst-Case Fears of 20%-30% U.S. Jobless Rate Now RealisticYet Bezos and many of his wealthy peers in technology, private equity and elsewhere are doing just fine, helped by unprecedented stimulus efforts by...
