Day: June 6, 2020

US riots set to scar economy for years to come

He and colleague Bob Margo found that where riots occurred, it “significantly depressed the value of black-owned property between 1960 and 1970, and that there was little or no rebound during the Seventies”.

The violent outbreaks “were adverse shocks with long-lasting and potentially self-propagating effects”, including loss of population. Collins says: “The effects we found were pretty large, and so it wasn’t just a reflection of the amount of property destruction; rather, our interpretation was that the events affected how potential residents, businesses and investors regarded the attractiveness of areas strongly associated with riots, relative to others.”

He is cautious

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Petronas chief heads to Malaysia Airlines in state-sector shake-up

KUALA LUMPUR — The president and CEO of Malaysia’s state energy group Petroliam Nasional Berhad, or Petronas, has been appointed to serve as chairman of debt-stricken national carrier Malaysia Airlines, Prime Minister Muhyiddin Yassin said Saturday.

Wan Zulkiflee Wan Ariffin will take the helm of the struggling airline. He will be replaced at Petronas by the company’s chief financial officer, Muhammad Taufik Aziz, who will be promoted to president and CEO. Both appointments are effective July 1, said Muhyiddin.

The management reshuffle comes as the two state-owned enterprises struggle with two of the biggest economic impacts of the coronavirus pandemic:

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Avigan trial to stretch beyond June as Japan’s coronavirus cases plunge

TOKYO — Potential coronavirus treatment Avigan is now expected to take until July at the earliest to complete a clinical trial, further delaying government approval in Japan, Nikkei has learned.

A sharp decline in COVID-19 cases in Japan has made it difficult to secure enough patients for testing, according to people familiar with the matter.

The struggle to secure enough data is the latest setback to hopes that the Fujifilm Holdings-developed anti-flu drug can serve as a coronavirus remedy. Prime Minister Shinzo Abe’s government had initially expected to grant Avigan fast-track approval as a COVID-19 treatment in May, but with

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Petronas chief heads to Malaysia Airlines in state-sector shakeup

KUALA LUMPUR — The president of Malaysia’s state energy group Petroliam Nasional, or Petronas, has been appointed to head debt-stricken national carrier Malaysia Airlines, Prime Minister Muhyiddin Yassin announced Saturday.

Wan Zulkiflee Wan Ariffin will be replaced by Petronas’ chief financial officer, Muhammad Taufik Aziz, who will be promoted to president and CEO. Both appointments are effective 1 July, said Muhyiddin in a statement.

The management reshuffle comes as the two state-owned enterprises struggle with two of the biggest economic impacts of the coronavirus pandemic: an oil price crash and a plunge in air travel.

“In a challenging economic environment,

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