Eurozone Likely To Contract 8-12% In 2020, ECB Chief Says

European Central Bank President Christine Lagarde said the euro area economy is likely to contract as much as 12 percent in 2020 as member countries struggle to emerge from the coronavirus pandemic. On a live webinar, Lagarde said on Wednesday, the actual economic outcome would come between the ECB’s “medium” and “severe” scenarios. The mild […]

FDA Asks More Companies To Recall Diabetes Drug Metformin

Following the recall of type 2 diabetes medication Metformin Hydrochloride Extended-Release (ER) by Apotex last week, the U.S. Food and Drug Administration or FDA has recommended more pharmaceutical companies, who are manufacturers of the drug formulation, to recall their products. The agency had announced in a May 29 conference call the names of the five […]

COVID 19 Disrupting Routine Vaccination, Putting Millions Of Children At Risk

Millions of children are at risk of contracting diseases like diphtheria, measles and polio as life-saving immunization services around the world are disrupted due to COVID 19. This stark warning comes from the World Health Organization, UNICEF and Gavi, the Vaccine Alliance. A Global Vaccine Summit is set to take place on June 4 in […]

Blockchain Healthcare Startup Solve.Care Launches Global Telehealth Exchange

Blockchain healthcare startup Solve.Care has rolled out a bockchain-powered platform that will redefine the current healthcare system amid the COVID-19 outbreak whereby patients are reluctant to visit their doctors due to the pandemic. Solve.Care’s Global Telehealth Exchange (GTHE) will provide a solution with the world’s first Global Health Exchange built on Blockchain. It will help […]

Tech That Saves EU Firms From Covid-19 Could Kill Them in Court

Technology may allow companies across Europe to open more quickly and protect the health of employees as they try to rebound from coronavirus lockdowns. It might also mean they end up in court. With lockdowns lifting, many employers plan to use systems, including fever-detecting thermal cameras, mask-checking systems and corporate contact-tracing devices, to help prevent […]

Coronavirus will haunt US economy for a decade and wipe out $8tn, says CBO

The ongoing coronavirus pandemic will haunt the US economy for a decade, wiping close to $8tn off economic growth, according to new projections released by the Congressional Budget Office (CBO) on Monday. In a letter to lawmakers CBO director Phillip Swagel projected the virus will reduce US economic output by 3% through 2030, a loss […]

More than 200 UK travel and hospitality firms want quarantine U-turn

More than 200 travel and hospitality companies have now called on the government to change planned quarantine rules, which they say are unworkable and will be deeply damaging to their industry. The companies have joined the aviation industry in a growing backlash against rules due to be introduced from 8 June. All visitors and returning […]

Big changes in I-T return forms. Read to find the details

Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul […]

How Mukesh Ambani re-invented Reliance again

Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan. It used to be said, with some truth, that what was good for General Motors was good for the US of A. In India, the equivalent comment (rather less truthfully) used to […]