Job losses from virus 4 times as bad as ’09 financial crisis

first_imgGENEVA (AP) — A UN report says that four times as many jobs were lost last year due to the coronavirus pandemic as during the worst part of the global financial crisis in 2009. The report published Monday by the International Labor Organization says that the restrictions on businesses and public life destroyed 8.8% of all work hours around the world last year. That is equivalent to 255 million full-time jobs – four times the impact of the financial crisis over a decade ago. The UN agency noted that most people who lost work stopped looking for a job altogether.last_img read more

Latest honor for Sidney Poitier: A film school in his name

first_imgNEW YORK (AP) — At 93, screen legend Sidney Poitier has achieved a new career milestone: Arizona State University has unveiled The Sidney Poitier New American Film School. University president Michael M. Crow says the decision to name the school after Poitier, the first Black winner of a lead acting Oscar, is about much more than an emphasis on diversity. He says it’s about the filmmaker’s creative energy and drive and the way he advanced his life. The university says it has invested millions of dollars in technology to create what’s intended to be one of the largest, most accessible and most diverse film schools.last_img read more

How to make good on your resolution to pay off debt in 2021

first_imgMany consumers want to pay off their debt in 2021 but are unsure how to navigate the COVID-19 economy. Experts recommend listing all your debts and contacting each lender to see if it will reduce your interest rate, lower your monthly payment or waive late fees. The resulting savings should be applied to your debt. Consolidation tools may also be a good idea for those who have multiple debts and can qualify for a low rate. As you start to pay down your balances, automate your finances to prevent going into debt in the future.last_img read more

Norwegian Air to get government loan in restructuring

first_imgCOPENHAGEN, Denmark (AP) — Norway’s government says it will give ailing low-cost carrier Norwegian Air Shuttle a loan worth 1.5 billion kroner ($173 million) as long as the company manages to raise at least 4.5 billion kroner ($520 million) from other investors. The airline had earlier said it will end its long-haul operations and instead focus on European destinations as it struggles with the fallout of the coronavirus pandemic and debt restructuring. The company presented a plan that cut its fleet from 140 aircraft to about 50, and also said it would reduce its total debt. The plan must be approved by a bankruptcy court in Ireland, where its planes are registered.last_img read more