Australia’s Cases Spike; IMF Sees Deeper Slowdown: Virus Update

Australia’s Cases Spike; IMF Sees Deeper Slowdown: Virus Update

Australia's Cases Spike; IMF Sees Deeper Slowdown: Virus Update | Businessliveme.com - Business News Middle East





(Bloomberg) “” Australia recorded its largest spike in Covid-19 cases since April, raising concerns about a second wave of infections. Signs of a worsening outbreak across the U.S. rattled global markets, with states including Florida, California and Texas setting daily records for infections.

The International Monetary Fund projected a deeper recession and slower recovery for the virus-ravaged world economy than it anticipated two months ago. Health leaders called on the U.K. to prepare for a possible second wave, while the World Health Organization warned of rising Latin America cases.

Qantas Airways Ltd. plans to raise as much as $1.3 billion and cut at least 6,000 jobs as international travel shows no sign of recovering. The New York City Marathon, which attracts runners from around the globe, was canceled.

Key Developments:

Global Tracker: Cases exceed 9.4 million; deaths pass 482,000

Virus's race through U.S. forces grim reality on states

Disneyland's July reopening delayed indefinitely in California

Investors favoring firms that let people work from home

The pandemic's worst-case scenario is unfolding in Brazil

Modi looks inward to save Indian economy as crisis bites

Hospitals are counting beds again with cases rising

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