Author: Anne

Asia ramps up coronavirus curbs as new clusters erupt By Reuters

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© Reuters. The spread of the coronavirus disease (COVID-19) in Kathmandu

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By Colin Packham and Naomi Tajitsu

SYDNEY/TOKYO (Reuters) – Australian states tightened borders and restricted pub visits on Tuesday, while Disney prepared to close its Hong Kong theme park and Japan stepped up tracing as a jump in novel coronavirus cases across Asia fanned fears of a second wave of infections.

Many parts of Asia, the region first hit by the coronavirus that emerged in central China late last year, are finding cause to pause the reopening of their economies, some after winning praise for their initial responses to the outbreak.

Australia largely avoided the high numbers of cases and casualties seen in other countries with swift and strict measures, but a spike in community-transmitted cases in Victoria state and a rise in new cases in New South Wales has worried authorities.

South Australia cancelled plans to

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‘Spectacular numbers’: As the price of gold rises above $1,800, miners eye expensive Canadian projects

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In Canada, because of the favourable currency exchange rate, the price of gold stands at $2,407 per ounce — the highest ever on record.

Spot gold was up 0.6 per cent to US$1,808.75 per ounce on Monday.

The steady rise for gold, which began a year ago means that across Canada, gold projects that investors long shrugged off, met with nonchalance or ignored, such as Côté, are suddenly back in reach for chief executives, and the country could see a wave of new gold mines built in the coming months and years.

Even as other sectors struggle to absorb the economic shocks caused by the coronavirus pandemic, most gold mines in Canada have largely avoided any severe consequences, and managed to operate near full capacity through the pandemic, if not at full capacity with disruptions and work stoppages short-lived in most cases.

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Meet the millionaires who want to be taxed to pay for the coronavirus

Dozens of millionaires from the U.S. and six other countries have a message for their governments: “Tax us. Tax us. Tax us.”

Calling themselves the Millionaires for Humanity, more than 80 wealthy individuals — including Walt Disney Co. heiress Abigail Disney, former BlackRock Inc. managing director Morris Pearl, and Danish-Iranian entrepreneur Djaffar Shalchi — are petitioning for higher taxes on the rich to help pay for the billions in new government programs made necessary by the Covid-19 pandemic.

“Today, we, the undersigned millionaires and billionaires, ask our governments to raise taxes on people like us. Immediately. Substantially. Permanently,” according to the open letter. “We are not restocking grocery store shelves or delivering food door to door. But we do have money, lots of it. Money that is desperately needed now.”

Their missive, which comes ahead of this weekend’s Group of 20 meeting, isn’t the first such appeal. Even before … Read More

Oil slips as traders expect OPEC+ to ease supply cuts By Reuters

© Reuters. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary

By Florence Tan

SINGAPORE (Reuters) – Oil slipped nearly 1% on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.

Brent crude () fell 29 cents, or 0.7%, to $42.95 a barrel by 0510 GMT while U.S. West Texas Intermediate crude () was at $40.25 a barrel, down 30 cents, or 0.7%.

Oil was little changed last week as a resurgence of coronavirus cases prompted several U.S. states to impose tighter travel restrictions that could dampen oil demand recovery at the world’s largest consumer. [nL2N2EJ04T]

However, prices climbed more than 2% on Friday after the International Energy Agency raised its 2020 oil demand forecast by 400,000 barrels per day. [nL8N2EH1F2]

Oil prices have recovered sharply from multi-decade

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Lift & Co. offloading assets as COVID-19 shakes the cannabis sector

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Lift’s struggles are in part a reflection of the cannabis sector as a whole, which, now in its second year of legalization in Canada, has failed to meet investors’ expectations. “Leading up to (the pandemic), the cannabis industry was facing quite a lot of headwinds,” said Rishi Malkani, lead partner of Deloitte Canada’s cannabis division. “You had seen difficulty accessing capital, there were supply challenges … there was difficulty distributing (supply). You had a lot of management turning over and founders shown the door.”

Lack of available capital is what’s creating pressure on already precarious companies

Companies in the sector laid off some 600 employees in the last few months of 2019, according to a job tracker of the industry by Business Insider; that number has soared during COVID-19, with over 3,100 layoffs as of June 3. “The legal cannabis industry is new. They’re still figuring out

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It’s not easy being an aspiring lawyer taking the bar exams during a pandemic

In New York, future attorneys fret they are cramming for a two day exam that won’t take place. In Austin, Texas, law students discovered their test was cancelled only upon calling the exam venue. And in Arizona, 575 test takers are slated to file into the Phoenix Convention Center—even as COVID rages out of control throughout the state.

Welcome to the 2020 version of the bar exam, an ordeal that law school graduates have long confronted in order to join the legal profession, but which has taken on new levels of stress in the covid era.

The prospective lawyers are especially frustrated in light of what they perceive as a lack of transparency by the exam overseers or, in cases like Arizona, by a disregard for their safety. They have been sharing their frustrations in private social media forums, and sharing their experiences with @BarExamTracker—a Twitter account that has … Read More