coronavirus impact News

Global COVID-19 Cases at Record High, as Omicron Variant Races Out of Control

SYDNEY/ROME – Global COVID-19 infections hit a record high over the past seven-day period, Reuters data showed on Wednesday, as the new Omicron variant raced out of control, keeping workers at home and overwhelming testing centers. Almost 900,000 cases were …

London Turns Into Ghost Town as UK Faces Record-Breaking Wave of COVID Infections

The owner of Parlez, a pub and restaurant in south London, hoped that sales this Christmas would have bounced back fully from last winter’s COVID-19 lockdown. Instead, every one of this week’s group reservations canceled their bookings. The UK is …

EXOR Restarts Talks With Insurer Covéa Over Scrapped $9B Sale of PartnerRe: Report

EXOR, the holding company of Italy’s Agnelli family, has restarted talks with French insurer Covéa over a possible sale of reinsurer PartnerRe, Il Sole 24 Ore reported on Saturday, after the deal was scrapped last year due to the pandemic. …

Electric Scooter Providers Plan Selective Expansion, Seeking Scale to Survive

The era of breakneck growth for electric scooter firms is giving way to more selective expansion focused on profits as they face tougher regulations, more demanding customers and wary insurers. Hurt badly by global coronavirus lockdowns last year, companies offering …

London Is Struggling to Lure Back Workers, Says CEO of Legal & General

The head of one of the UK’s largest insurers and investors warned that the City of London is struggling far more than the country’s other office districts in luring workers back to their desks. Since lockdown restrictions were eased, other …

Chronic Scarcity of UK Workers Blamed on COVID and, of Course, Brexit

On the outskirts of the Scottish town of Kirkcaldy is a crop of new houses on their way to completion. There are two large banners pinned to the perimeter fence with a mobile phone number: “Bricklayers Required.” Rather than prices …

Update: Allianz Warns Earnings Could Be Hurt by U.S. Investigation into Funds

Allianz SE warned of a potentially material hit to its earnings after the U.S. Justice Department opened a probe into its Structured Alpha Funds, which are at the center of lawsuits in the wake of steep losses during the pandemic. …

‘Talent War’ Forces Companies Across Globe to Pay Higher Salaries to Woo Workers

The COVID-19 pandemic has worsened a shortage of white-collar workers in many countries, forcing companies to pay higher salaries to woo talent, a top London-based recruiter said on Tuesday [July 27]. Robert Walters – which specializes in the likes of …

World Faces Shortage of Sailors for Commercial Ships, Risking Supply Chains: Report

There could be a shortage of merchant sailors to crew commercial ships in five years if action is not taken to boost numbers, raising risks for global supply chains, a report said on Wednesday. The shipping industry is already struggling …

Global Supply Chains Driven to Breaking Point on New COVID Wave, Natural Disasters

LONDON/BEIJING – A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, …