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The outlook for the labour market has worsened significantly since the last ILO Monitor was issued. The International Labour Organization (ILO) has released the latest projections of the impact that the COVID-19 outbreak is having on workers and businesses worldwide. The revised estimate of global working time lost in the second quarter (Q2) of this year (when compared to Q4 2019) is for 17.3 per cent, equivalent to 495 million full-time equivalents (FTE) jobs (based on a 48-hour working week), whereas the earlier estimate was for 14 per cent or 400 million FTE jobs. In Q3 of 2020, global working-hour losses of 12.1 per cent (345 million FTE jobs) are expected. One reason for the estimated increases in working-hour losses is that workers in developing and emerging economies, especially those in informal employment, have been much more affected than by past crises, the Monitor noted. It also noted that the drop in working-hour losses is more attributable to inactivity than to unemployment, with important policy implications. The ILO Monitor gives updated projections for the number of working hours lost globally as a result of the labour market disruption caused by COVID-19.
What is quarantine? As more countries are imposing a quarantine on arrivals from 'high-risk' countries. The World Health Organisation says the Covid-19 quarantine period should not be reduced from 14 days. The rule currently applies to those who've been diagnosed with the virus, and their close contacts. Several countries, including France and Ireland, are considering reducing the period to seven or ten days. But Dr Maria Van Kerkhove, from the WHO, says its advice hasn't changed.
Yes, we need a vaccine to control Covid-19. But we need new treatments, too: Thomas Cueni Hopes for a relatively quick return to normalcy are riding high on promising news about Covid-19 vaccines. Nearly 200 vaccines are in development worldwide. And with six of them already being tested in Phase 3 clinical trials, the possibility exists that a vaccine could be ready by the end of the year. But we need to be realistic: A vaccine is not a silver bullet.
Pfizer Vaccine on Track for Regulatory Review in October Pfizer CEO said the Covid-19 vaccine they are jointly developing is on track to be submitted for regulatory review as early as October, as they released additional data from an early-stage study. Pfizer’s potential vaccine is one of three backed by the U.S. that’s currently in late-stage testing. The U.S.-based pharmaceutical giant has been working alongside German drugmaker BioNTech. In July, Pfizer released promising data from its early-stage trial.
Coronavirus vaccine: profits Vs public health. The European Commission has raised at least €9.8 billion for a Coronavirus Global Response. It's President Ursula von der Leyen promised that any future vaccine would be “our universal, common good.” echoing UN's António Guterres who said that #COVID19 vaccine must be considered "a global public good. Not a vaccine for one country or one region". However, a crucial question posing a dilemma for both the pharmaceutical industry and politicians around the globe is already emerging: which countries will be served first with a vaccine? Whoever wins the race to come up with a successful coronavirus vaccine will also win massive profits. But while the industry vows to make a vaccine globally accessible, not all are on board with that idea, watch.
Who will lead the World Trade Organization? A political heavy-hitter from Nigeria is shaking up the race to lead the World Trade Organization but will the rest of Africa rally behind her candidacy? Ngozi Okonjo-Iweala, a former finance minister and corruption-buster who now sits on the board of Twitter, to succeed Brazil's Roberto Azevêdo as WTO director-general. Okonjo-Iweala's critics argue her expertise lies more in finance than trade, with one diplomat saying she was"not a trade name." so here's what she has to say:
Starbucks CEO, Kevin Johnson, explaining that #sustainability is one of the pillars for Starbucks to make social #impact. He gives a few examples on how Starbucks keeps being innovative aiming to be nr1 company in the world to be sustainable from farmer to final products and how these are sold.
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