Coronavirus

Bezos, Musk and other billionaires see their fortunes rise during the pandemic

As the fortunes of the world’s richest men rose by $540 billion since coronavirus struck last March, the fallout of the pandemic will lead to the biggest increase in global inequality on record unless governments around the world radically restructure their economies, anti-poverty organization Oxfam warned on Monday.

Job losses from virus 4 times as bad as 2009 financial crisis

The United Nations agency noted that most people who lost work stopped looking for a job altogether, likely because of restrictions on businesses that hire in big numbers like restaurants, bars, stores, hotels and other services that depend on face-to-face interactions.