Economics

XPrize to give $5 million to creator of cheap, fast COVID-19 testing Google and Amazon are backing it, among others. Shannon Connellan Mashable

Tech giants including Google and Amazon pledged support for a $5 million competition to accelerate cheap and fast COVID-19 testing in the U.S.

Jamie Dimon's warning for the U.S. economy — nobody knows what comes next More than four months into the coronavirus pandemic, the financial damage wrought by the outbreak has yet to fully register. Hugh Son CNBC

• The range of outcomes for the economy in the second half is incredibly wide: JPMorgan Chase sees no fewer than five different paths it can take.
• The bank has gotten more pessimistic, seeing unemployment in its default “base” scenario hitting nearly 11% by the end of this year, 4.3% worse than when it made the same forecast in April.

A dog looks out of a house flooded by Hurricane Maria, in Catano town, Juana Matos, Puerto Rico, on September 21, 2017.  Hector Retamal | AFP | Getty Images

CLICK HERE - REPORT - Climate risk and response: Physical hazards and socioeconomic impacts - January 2020

cnbc.com - by Pippa Stevens - January 16, 2020

KEY POINTS

McKinsey said trillions of dollars in economic activity and hundreds of millions lives are at risk from a changing climate.

“Much as thinking about information systems and cyber-risks has become integrated into corporate and public-sector decision making, climate change and its resulting risks will also need to feature as a major factor in decisions,” McKinsey Global Institute director Jonathan Woetzel said.

BlackRock CEO Larry Fink warned this week that the intensifying climate crisis will bring about a fundamental reshaping of finance, with a significant reallocation of capital set to take place “sooner than most anticipate.”