The US recession due to the coronavirus pandemic lasted two months, making it the shortest slowdown ever. The National Bureau of Economic Research, which is considered the official judge of the timing and duration of recessions, said on Monday that the economy hit a low in April 2020.
Andrew Lloyd Webber has canceled the opening of his new musical West End Cinderella to a full audience, blaming the “blunt instrument” of the government’s self-isolation rules. The performance of the show on Monday night, the day all distancing restrictions were lifted in England, was called off after a cast member tested positive.
Florida Congressman Vern Buchanan announced he had tested positive for Covid-19, despite being fully vaccinated. The diagnosis takes place in a context of increased coronavirus infections in Florida, which accounted for one in five new cases reported in the United States in the past week.
Iran will close two of its most important provinces, including its capital, as authorities step up travel restrictions across much of the country. The six-day closure from Tuesday focuses on Tehran and its neighbor Alborz and will shut down banks and public institutions, adding to travel bans in most Iranian provinces.
Movie owners in the United States slammed Disney for making Marvel’s Black Widow available simultaneously on the big screen and its streaming platform. The National Association of Theater Owners has awarded the ‘superb second weekend collapse in movie theater revenues âto Disney’s decision to broadcast the film.
Executives in mid-sized US companies have become very optimistic on the outlook for the US economy and their own businesses, according to a JPMorgan Chase survey that also cast doubt on predictions of a rout in the office real estate market. Business confidence is at its highest level in a decade.
Stonegate, the UK’s largest pub group, is suing for losses it suffered during the pandemic, in a bitter argument between hotels and insurance. The company, backed by private equity group TDR Capital, is seeking Â£ 845million from MS Amlin, Liberty Mutual Insurance Europe and Zurich.
Taiwan approved its first national vaccine against Covid-19 on Monday, bolstering the country’s efforts to vaccinate its 23.6 million people. A committee of health officials and scientists has granted emergency use authorization MVC-COV1901, a vaccine developed by Medigen, a Taiwanese pharmaceutical company.