White House official warns of negative shocks before rebound later in 2020

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WASHINGTON (Reuters) – Top Trump adminstration officials on Tuesday predicted a strong economic rebound in the fourth quarter as the coronavirus fades, but a senior White House adviser warned that near-term unemployment and GDP data will be a “very grave” negative shock.

FILE PHOTO: White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018. REUTERS/Jonathan Ernst

Kevin Hassett, senior economic adviser to President Donald Trump told CNN that unemployment could reach 16-20%, and GDP output could fall as much as 30-40% on annualized basis in

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Lockton hires chief people officer

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Lockton has announced the appointment of Kelly Conway as its chief people officer. In her new role, Conway will lead the company’s human resources strategy.

“What sets Kelly apart is her robust experience driving global business outcomes in transformation and growth environments,” said Peter Clune, global CEO of Lockton. “Her leadership and strategic guidance will ensure our people have the resources they need to continue delivering innovative solutions to our clients. With Kelly in this key leadership position, Lockton is in the strongest possible position to continue competing for the best talent as a global employer of choice.”

In addition

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Colombian businesses call for more aid after quarantine extension

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BOGOTA (Reuters) – Colombian businesses on Tuesday called on the government to expand measures to help companies weather coronavirus, after President Ivan Duque extended a nationwide lockdown by two weeks.

FILE PHOTO: Health workers protest with an ambulance caravan demanding payment of their wages, in Bogota, Colombia April 1, 2020. REUTERS/Nelson Bocanegra/File Photo

Additional quarantine until April 27 will save lives, Duque said on Monday, but businesses say many could face bankruptcy and increased unemployment.

The government has promised credit guarantees of up to 12 trillion pesos (about $3 billion) for small and medium-sized companies. The one to three-year credits

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Streaming services may be forced to become more transparent

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A man browsing the channel selections on TV at his home in Las Vegas.

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The coronavirus pandemic has fundamentally changed the entertainment industry.

With movie theaters shuttered, studios have been forced to either delay their film releases or turn to on-demand and streaming options to present their content to audiences. While cinemas are preparing to reopen this month, eagerly awaiting new films in July, it’s still unclear if there is enough demand to keep these businesses profitable. Theaters are also facing social distancing restrictions that have led them to adopt new safety measures that limit their capacity.

This

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