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It’s JPMorgan vs. Citi as Wall Street Splits on Market Direction

(Bloomberg) -- Wall Street’s biggest firms are divided on where markets are heading to next.While most risk assets are well off their mid-March lows, when uncertainty about the global impact of the coronavirus outbreak was at its peak, there is little consensus on what is to follow. At the core of the debate is the long-term effectiveness of the massive stimulus from central banks and governments.When $8 Trillion in Global Fiscal Stimulus Still Isn’t EnoughCitigroup Inc., for one, doesn’t get the “puzzling” rise in stocks.“Extensive policy response, led by ample liquidity provided by central banks, likely contributed to the move in the markets,” economists including Igor Cesarec and Catherine Mann wrote in a note Thursday. “However, since it is not clear that markets can be propped up indefinitely, caution is warranted. Risk assets could be fragile once the cold, hard economic reality hits again.”On the other hand, JPMorgan Chase & Co. sees the stock market advance as justified -- and one which can continue.“While the collapse in economic activity is historic, so too is the global policy response to cushion the impact and support a recovery,” strategists led by Marko Kolanovic wrote in a note Thursday. “We expect risky assets to continue to recover as economies reopen and given the unprecedented policy support, though we expect a moderation in the pace of gains.”Read about JPMorgan’s call in late March that markets were probably past the worst.The MSCI AC World Index has climbed about 25% since March 23 as investor sentiment warmed toward a slew of worldwide policy measures to offset the economic impact of the pandemic. The global gauge had fallen as much as 34% from its February high, when concerns about the virus reached a peak.Looking ForwardGoldman Sachs Group Inc. and Morgan Stanley largely see gains remaining intact, with caveats.Goldman attributes the market rise to a stabilization in virus infection rates and an improvement in measures of funding and liquidity stress. The firm has already said that equities price in macroeconomic performance over a two-year time horizon and investors may look past huge economic damage.“Markets will continue to look through bad news about the depth of the economic downturn if they can continue to hold on to their view that a sizable chunk of the recent damage will be reversed by the end of next year,” strategists including Zach Pandl wrote in a note Tuesday.And Morgan Stanley is also comfortable with the disparity between asset price performance and fundamentals, noting that markets tend to lead the economy and care more about rate of changes than absolute levels.“Divergences between the market and economy are common at economic extremes,” wrote strategists including Andrew Sheets in a note Thursday. “Rate of change is key – a ‘U’ shaped recovery is fine, a ‘W’ is not.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.





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Edited Transcript of ARWR earnings conference call or presentation 7-May-20 8:30pm GMT




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Kingsoft Cloud Jumps in First Big U.S. IPO Since Luckin Fall

(Bloomberg) -- Kingsoft Cloud Holdings Ltd. rose 40% in the first major trading debut by a Chinese company since the accounting scandal at Luckin Coffee Inc.The affiliate of Hong Kong-listed Kingsoft Corp. raised $510 million in its initial public offering, pricing its shares at the midpoint of a $16 to $18 targeted range. The shares closed at $23.84 in New York trading Friday, giving the company a market value of $4.77 billion.The Beijing-based cloud computing service company, which had marketed 25 million shares, increased the sale to 30 million American depositary shares.The IPO is the biggest by a Chinese company in the U.S. this year, according to data compiled by Bloomberg. It’s a tricky time for Chinese companies listing in the U.S. after the poster child of Chinese startups, Luckin, was accused of accounting fraud. Luckin’s shares had fallen 74% from its IPO price last year when trading of its stock was suspended in April.Read: Luckin Coffee Scandal Deals Blow to China Inc.’s Reputation“Given the context regarding China ADR, it’s actually good for quality companies,” Henry He, Kingsoft Cloud’s chief financial officer, said in an interview Friday evening in Hong Kong. “The capital has to be deployed and quality long-only investors will pay more attention to quality companies like us.”Tense MomentFinancial performance of Kingsoft Cloud has been consolidated with its Hong Kong-listed parent since its inception and there are publicly available track records for investors to analyze, he added.Its IPO comes at a tense moment for the U.S.-China relationship, after President Donald Trump and Chinese state media have exchanged heated criticisms regarding the origin of coronavirus responsible for the pandemic that has killed more than 269,000 and brought much of the world’s economy to a standstill.China Liberal Education Holdings Ltd., a Beijing-based educational company, fell 18% in its U.S. trading debut Friday after raising $8 million in its IPO. A third company that went public Friday, Ayala Pharmaceuticals Inc., rose 0.2% after its $55 million offering.Kingsoft Cloud is the third-biggest cloud services provider in China by revenue with a market share of 5.4%, according to its filings with the U.S. Securities and Exchange Commission. Last year, it lost $160 million on revenue of $568 million. Its chairman, Lei Jun, was a co-founder of smartphone-maker Xiaomi Corp., which will own about a 14% stake in the company after the offering, according to the filings.The offering was led by JPMorgan Chase & Co., UBS Group AG, Credit Suisse Group AG and China International Capital Corp. The company’s shares are trading on the Nasdaq Global Select market under the symbol KC.(Updates with closing share price in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.





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Edited Transcript of ATHX earnings conference call or presentation 7-May-20 8:30pm GMT




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Edited Transcript of FIS earnings conference call or presentation 7-May-20 12:30pm GMT




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Demand for coronavirus small business loans fades, here's why

As of Thursday evening, more than 40 percent of the funds remained available in the Paycheck Protection Progam





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Roku stock falls despite revenue beat

Roku posted a strong first-quarter earning report after the bell on Thursday. Yahoo Finance’s On The Move panel share the details.





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Bitcoin to Rally after Halving?

Bitcoin is growing against the entire crypto market, adding 3% in the last 24 hours. The first cryptocurrency is not only above $9K but is close to reaching $10K.





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Investor James Richman Bets GE Stock Is Set to Experience Almost 100% Rally

General Electric (GE) shares have been on the decline as of late. As a result, many investors have been understandably worried. Such sentiments have placed the American manufacturing giant on the market spotlight, and begs the question: is it still worth investing in at current levels? Traversing turbulent market conditions, the outlook seems bleak for the 128-year-old conglomerate. Is there no way up for the aviation unit of General Electric? What about its other subsidiaries? Investor James Richman bets GE is likely to touch down $5-level. From there, the tech investor is bullish that the price will double in value and hit $10 again.Source: Flickr GE: a legacy of over 120 yearsAmid the impact of coronavirus specifically in both travel and hospitality industries, GE's esteemed aviation unit has been feeling the most pressure. The demand for airplanes has shrunk tremendously forcing the company's management to schedule a 25% workforce reduction globally. This is in consonance to the 10% layoff in its US workforce which was announced in March. These difficult cost-cutting measures are deemed necessary by David Joyce, CEO of the GE Aviation Unit that employs a workforce of around 52,000 people.Significant drops since coronavirusGE Aviation supplies jet engines to giant aircraft makers like Airbus and Boeing. The projection of Boeing, a 10% workforce drop amidst its $641m loss, certainly adds up to GE's current woes.  Investor betting on the company bouncing backHowever, one investor who is known to take a different outlook is Latvian-born investor James Richman. With investments in both public and private companies, and his most notable investments including tech giants such as Uber, Tesla, and Facebook, his approach is understood to be contrarian. Yahoo! Finance reports he is taking the opposite approach when compared to Warren Buffet as Richman bets GE's price to temporarily touch upon $5-level. From that level, it is projected to climb its way back to $10, making the 100% rally. The Monaco-based investor has also made headlines when he reportedly pledged $18m in the fight against coronavirus as he mobilizes his biomedical investments in the said efforts. Richman has been historically known to take the contrarian approach in investing. With investments that seemed unorthodox at one point, he has earned respect in the finance field because of his firm's outstanding performance during the 2008 financial crisis. Not open to the general public and mainly dealing with ultra high net worth individuals (UHNWI) and institutional investors, his clients have reported impressive annual earnings for over a decade.Comparison to the last financial crisisIt is not the first time GE had felt the backlash of market recessions. In 2008, the company's shares dropped by 78% tracing the period of the global recession. In 2 years, GE's shares dropped from $27 to $6. The broader S&P also fell that time, but with a conservative 51%.Still worth buying at current levels?GE recovered from the 2008 recession with tremendous momentum. After being bailed out by the federal government to the tune of $139 billion, it experienced an 82% uptick between March 2009 and January 2010. This is more than the 48% bounce back the S&P managed over the same period. Generally, the performance of its stock will still hinge on the developments in the handling of coronavirus pandemic, considering that the aviation division of the company is being hammered as a result. Efforts of which have been showing positive signs of recovery. Meanwhile, the demand for healthcare, government interventions, and the continuous development of treatments and vaccines is seen to help push the shares towards upwards direction in the long run: provided that its wings can weather the storm like it did in 2008.  More recent articles from Smarter Analyst: * RBC: 2 Strong Value Stocks to Buy Now * Look Beyond 2Q, General Motors Will Outperform the Sector, Says Analyst * Coronavirus Vaccine Could Add Massive Value to This Small-Cap Stock, Says Analyst * Can Seanergy Maritime Stock Add 150% Over the Next Year? This Analyst Says 'Yes'





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U.S. to allow states to distribute Gilead's remdesivir to fight COVID-19




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Critical Flaw in CODESYS Industrial Controller Software Allows Code Execution

Cisco’s Talos threat intelligence and research group revealed on Wednesday that one of its researchers discovered a critical remote code execution vulnerability in the CODESYS Control SoftPLC industrial controller software.

read more




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Industry Reactions to Alliance for Open 5G Systems: Feedback Friday

More than 30 technology and telecom companies announced this week that they have formed a new alliance, the Open RAN Policy Coalition, that calls for open and interoperable 5G systems.

read more




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Seminole PowerSports Hosts Meet and Greet with Cristy Lee from All Girls Garage

Sanford, Florida Power Sports Dealership Welcomes Cristy Lee for the Kickoff of "Tour de Florida"




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2010 Transportation Ballot Measures: An Examination Of Key Trends And Results

Election Day has come and gone. Yesterday, our daily Transportation Headlines highlighted the Center For Transportation Excellence's state-by-state results of all transportation ballot measures in 2010.

43 of 56 measures passed: a 77% success rate.


But what does it mean for local and national transportation issues? The pundits, planners, pollsters and prognosticators have only just begun reading the tea leaves as well as the writing on the wall.

This Friday, CFTE will host a webinar recapping the outcomes of this year's transportation measures across the country and take a look at key trends from other recent elections.

This is a great opportunity to learn how communities are using ballot measures to improve their transportation systems, so we wanted to share more information about it:
Free Webinar: Trends And Results From 2010 Transportation Ballot Measures (Register Here)
Hosted by the Center for Transportation Excellence, NAPTA and APTA State Transit Association Leaders

Fri, Nov 5, 2010 10:00 AM - 11:00 PM PST
In advance of the webinar, the following resources might be worth reviewing:



In other post-election news, Jim Oberstar (D-MN), Chair of the House Transportation And Infrastructure Committee, was defeated after 18 terms in the House of Representatives. John Mica (R-FL), the Committee's Republican leader, said in a statement today:

“Among my top legislative priorities will be passing a long-term federal highways and transit reauthorization, a long-overdue Federal Aviation Administration reauthorization, a new water resources measure, and a long-term Coast Guard reauthorization.

“I will also focus on major initiatives to find ways within the Committee’s jurisdiction to save taxpayer dollars. That includes better management and utilization of federal assets, including real property, and more efficient, cost effective passenger rail transportation, including a better directed high-speed rail program.”


We also wanted to share more information about CFTE, which does an excellent job rounding up information about transportation measures and election results. They also serve as a "clearinghouse for information in support of quality transportation choices. "

CFTE is committed to two main objectives: (1) responding to transit’s critics and (2) equipping local leaders with the information they need to be successful with their public transportation initiatives and ballot measures.

How does CFTE accomplish its mission? Their goal is to deliver the message of sensible transportation choice by:
  • Creating case studies that illustrate the power of effective public transportation
  • Developing “tool kits” that aid local leaders in communicating the benefits of their programs
  • Maintaining an interactive website that provides clear information on effective public transportation development
  • Reaching out to media sources with the arguments in support of sensible transportation choice
  • Mobilizing in response to media coverage of the opposition with Letters to the Editor, Op/Ed submissions, editorial board meetings, etc.
  • Tracking legislative efforts and ballot measures and reporting on the outcomes and trendsTracking research outcomes and publicizing research results to the media, stakeholders, and local leaders

Now more than ever, as state governments struggle with massive budget deficits, and communities suffer under burgeoning traffic, support for sensible transportation solutions is in peril. Opponents using erroneous arguments and fomenting fear are eroding the great strides made over the past decade.

Supporters of balanced, practical transportation development look to CFTE for assistance with:
  • Distributing information that proves the effectiveness of public transportation
  • Engaging the opposition wherever and whenever they appear
  • Coaching community leaders in techniques for engaging the opposition in their own communities
  • Promoting transportation victories at the local, state, and national levels
Image courtesy of Flickr




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This is so beautiful...spreads love all around.

This is so beautiful...spreads love all around.




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This is beautiful Nima. Looks great on your wall. ...

This is beautiful Nima. Looks great on your wall. Glad you are in a better time. Through it all God is with you.




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Catching Up with Org Junkie ~ How Life in Isolation is Really Going


Hey friends, I thought today I’d just spend some time chatting about how life in isolation is really going around here. A brain dump of sorts. Maybe some of it will help you, maybe some of it will entertain you or maybe if nothing else it’ll distract you for at least 5 minutes. Since I […]

If you're seeing Catching Up with Org Junkie ~ How Life in Isolation is Really Going anywhere other than on I'm an Organizing Junkie (or via my email list or a feed reader) it is being used by someone else without my permission. Please let me know, thank you!




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ZuCoinChain All Set to Launch ZUwallet

A multi-functional & multi-utility state-of-the-art Ethereum MainNet wallet




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Call For Entries – Global Banking And Finance Awards 2020

Financial organizations and corporate entities are invited to participate in the 10th annual Global Banking & Finance Awards




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Is it a Bottom or a Fake Rally Bounce? Learn to Analyze Your Stock Live with an Expert Bear Market Analyst by Martha Stokes CMT

Live Online Interactive Stock Analysis Training Wednesday, April 1st, 2020 at 4pm PDT (7pm EDT)




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Insights into the Conflict Regarding COVID-19 Guidelines between the American Society for Reproductive Medicine (ASRM) and a New Interest Group of Fertility Centers, the Fertility Providers' Alliance

"Controversy" over COVID-19 and fertility treatment reveals investor-led interest pushing for more control in the IVF field




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FarmVisionAI™ Installations Double and Help Farmers Manage COVID-19 Restrictions

Illumitex's FarmVisionAI provides remote visualization, AI analysis, and labor management alleviating COVID-19 driven operational constraints




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The Most Secure Hardware Wallet is now on Indiegogo | Sleek, Secure, Simple

The HASHWallet Indiegogo campaign is out! Sign up and get 30% off and Free Vault service.




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CUNA Mutual Group Launches Advanced Planning Resources Program To Help Advisors Solve Complex Retirement Planning Challenges

Announces Marshall Heitzman to Lead New Program Efforts




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The One About The Outer Worlds, Star Wars Jedi: Fallen Order, and the Elite Series 2 Controller

#ad #TacoBellPartner First we show off Taco Bell's new Eclipse Xbox One X giveaway bundle (with the new Xbox Elite Series 2 Controller!), and then we discuss Obsidian's new RPG The Outer Worlds with reviewer Dan Stapleton. Plus: Star Wars Jedi: Fallen Order impressions & more!




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Talking Call of Duty: Modern Warfare With One of its Stars

Call of Duty: Modern Warfare Chad Michael Collins joins us in the second half of the show this week for an interview about acting in one of the biggest games of the year. That interview starts at 42:04 if you'd like to skip straight to it. In the first half of the show, we give our Modern Warfare campaign and multiplayer impressions, detail a fantastic new program from Microsoft that might help ease the sting out of Scarlett's next-gen launch price tag, discuss Fallout 76's new $100 per year service option, and more!




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A Smaller GTA 6 That Arrives Sooner?

On this week's Xbox podcast, the next Grand Theft Auto is in development, and we discuss the report that it may be a more "moderately sized" offering that's updated continuously. Plus: Microsoft may have an opportunity to gain some market share at the start of the generation after a Bloomberg report reveals Sony's scaled-back PS5 production plans, Crysis is the latest member of the remaster club, and more!




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Temporary Road Closure - Bundall

Streets affected: Slatyer Avenue (lane closure with traffic control – expect delays) between Ponciana Crescent and Richmond Avenue

Region:

Category:

Date: 
Thursday, May 7, 2020 - 19:00 to Monday, June 8, 2020 - 00:30
planned: 
1
Read more: 

Also affected: Racecourse Drive (lane closure with traffic control – expect delays) between Slatyer Avenue and Mentone Avenue

Start date: 7 May 2020

End date: 7 June 2020

Duration: 9am – 2:30pm

Reason: To facilitate installation of new signal footing and pole




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Learning during a crisis (Data Science 90-day learning challenge)

How can you keep your focus and drive during a global crisis? Take on a 90-day learning challenge for data science and check out this list of books and courses to follow.




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10 Best Machine Learning Textbooks that All Data Scientists Should Read

Check out these 10 books that can help data scientists and aspiring data scientists learn machine learning today.




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Were 21% of New York City residents really infected with the novel coronavirus?

Understanding the types of statistical bias that pop up in popular media and reporting is especially important during this pandemic where the data -- and our global response to the data -- directly impact peoples' lives.




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India's cotton yarn exports to fall to a decade low: ICRA




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Vishal Fabrics partially resumes manufacturing in Gujarat




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Next 2 quarters challenging for Indian cotton yarn sector




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Not just martech: Vendors go all-in on professional services to speed digital transformation

For many sophisticated marketing technology platforms, it is nearly impossible to be a technology-only company.

Please visit Marketing Land for the full article.




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ALL BEACHES CLOSED THURSDAY 4 JULY

All Gold Coast beaches are closed today due to worsening inshore conditions and a rising swell.

Beachgoers are advised to avoid walking along the beach, especially with children as tidal surges are very strong and people may be swept off their feet.

The safest vantage points to view the surf are from dedicated pathways and  oceanways.

 

Region:

Date: 
Thursday, July 4, 2019 - 19:00 to Friday, July 5, 2019 - 16:00
planned: 
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ALL BEACHES CLOSED THURSDAY 5 JULY

All beaches will be closed today due to dangerous inshore conditions and heavy seas.

Beachgoers are advised to avoid walking along the beach, especially with children as tidal surges are very strong and people may be swept off their feet.

The safest vantage points to view the surf are from dedicated pathways and  oceanways.

 

 

 

Region:

Date: 
Friday, July 5, 2019 - 16:12 to Saturday, July 6, 2019 - 16:12
planned: 
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All beaches closed

All Gold Coast beaches are closed to swimming today following a hazardous surf warning for local waters due to powerful surf and swell conditions today. 

City Lifeguards are advising people to stay out of the water and be careful in surf exposed areas.

 

 

 

Region:

Date: 
Friday, February 14, 2020 - 16:00 to Saturday, February 15, 2020 - 22:00
planned: 
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Caution - Rainfall affects recreational water quality

 

Swimming areas have been affected from stormwater run-off due to the recent heavy rainfall across the Gold Coast.

Residents and visitors are reminded that rainfall often washes through our streets, gardens and farms, before it is flushed into our ocean and rivers via the storm water system. Stormwater run-off can increase pathogen levels in the water and make it unsafe for swimming. Popular swimming locations, such as swimming enclosures, rivers, lakes, creeks and beaches – particularly those near stormwater outlets – have been affected.

As a precaution always avoid swimming:

  • one (1) day after heavy rainfall at open beaches
  • three (3) days after heavy rainfall at rivers, lakes and estuarine locations
    • in water that looks discoloured, murky, or smells unpleasant
    • near stormwater drains.

The City will continue to monitor sites across the Gold Coast.

For more information visit http://www.goldcoast.qld.gov.au/environment/recreational-water-quality-20260.html

 

Region:

Date: 
Friday, February 14, 2020 - 14:09 to Sunday, February 16, 2020 - 14:09
planned: 
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How to Stop Getting Sick all the time after a serious illness?

Usually, you are more prone to infections due to a weakened immune system. In my case, my lower body muscles had stiffened up and it had become extremely difficult for me to sit on the floor or squat or even bend for a few seconds. Body needs a lot of rest after undergoing a serious ailment. Instead of pushing the your body, understand the body’s needs and abilities and respect it. This is a temporary phase and it will recover, do not worry. In the meantime, eat healthy and protect your body from all factors which may make you fall sick.

The post How to Stop Getting Sick all the time after a serious illness? appeared first on Perfect Skin Care for you.




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India’s COVID-19 tally reaches 59,662, deaths near 2,000; fresh cases among repatriated Indians, paramilitary forces emerges as a major concern

The nationwide tally of confirmed COVID-19 cases reached 59,662 on Saturday and the death toll rose to 1,981 with the country registering an increase of 95 deaths and 3,320 cases in 24 hours till Saturday morning, the Union Health Ministry said

The post India’s COVID-19 tally reaches 59,662, deaths near 2,000; fresh cases among repatriated Indians, paramilitary forces emerges as a major concern appeared first on Firstpost.




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Making Judgment Calls

Noel Tichy, University of Michigan Business School professor and coauthor of "Judgment: How Winning Leaders Make Great Calls."




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Authenticity – What Voters (and Consumers) Really Want

Joseph Pine and James Gilmore, founders of Strategic Horizons LLP and authors of "Authenticity: What Consumers Really Want."




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What Charisma Really Is (and Isn’t)

Barbara Kellerman, lecturer at the Harvard Kennedy School and author of "Followership: How Followers Are Creating Change and Changing Leaders."




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How to Cut Costs – Strategically

Cesare Mainardi, managing director of Booz & Company and coauthor of "Cut Costs, Grow Stronger."




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Wall Street from Buttonwood to Bernie Madoff

Nancy Koehn, Harvard Business School historian and editor of "The Story of American Business."




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Avoid These Career-Planning Fallacies

Monika Hamori, professor at IE Business School in Madrid and author of the HBR article "Job-Hopping to the Top and Other Career Fallacies."




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How Great Management Turned Around Baseball’s Worst Team

Jonah Keri, sports and stock market writer; author of "The Extra 2%."




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What Health Care Really Costs

Robert S. Kaplan, Harvard Business School professor and coauthor of the HBR article "How to Solve the Cost Crisis in Health Care."




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All Business Is Green Business

Jib Ellison, founder of Blu Skye and coauthor of the HBR article "The Sustainable Economy."