(Bloomberg) — Citigroup Inc., Qantas Airways Ltd. and Singapore’s United Overseas Bank Ltd. joined companies worldwide making deeper cost cuts, from property and equipment to staff and pay, as the pandemic persists.
A U.K. court ruling in a landmark insurance case could lead to tens of millions of payouts related to Covid-19. Britain’s labor market took a turn for the worse in July, taking total job losses during the crisis to almost 700,000, fresh data showed.
In India, where infections trail only the U.S., total cases approached 5 million. Hong Kong reported no locally transmitted infections for the first time since early July. The city injected its struggling economy with fresh stimulus and lifted some social distancing measures, including temporarily reopening bars.
A vaccine may be available for “ordinary Chinese” as soon as November, the state-owned Global Times newspaper said.
Global Tracker: Cases pass 29.2 million; deaths exceed