Global stock markets rally despite Hong Kong tensions – business live

Live coverage of business, economics and financial markets 7.53am BST Good morning, and welcome to our live, rolling coverage of business, economics and financial markets. Global stock markets ralled on Wednesday morning as the improving outlook on lockdown easing for the most part outweighed concerns over China’s imposition of new security laws on Hong Kong. Thousands of armed police have flooded the streets of Hong Kong in an unprecedented show of force to prevent protests against a law criminalising ridicule of China’s national anthem. At lunchtime rallies police fired pepper bullets into crowds, appearing to hit one reporter, and detained dozens of protesters. Protests have also been fuelled by growing anger at Beijing’s increasing interference in the semi-autonomous city. Stimulus …

Report: Feds Drop Pre-Lockdown Insider Trading Investigation For Three Of Four US Senators

The Department of Justice has closed insider trading investigations into three of four United States senators who made major stock trades in the period of time between the coronavirus outbreak spreading through Wuhan, China, and the American economy tanking.  According to The Wall Street Journal, federal prosecutors informed Senators Dianne Feinstein (D-CA), James Inhofe (R-OK) and Kelly Loeffler (R-GA) that the investigation into their financial trades would be closing.  Loeffler, who is running for Senate against Congressman Doug Collins (R-GA), praised the development as a “clear exoneration,” calling the criticism of her stock activities a “politically-motivated attack promoted by the fake news media and my political opponents.” Today’s clear exoneration affirms what I’ve said all along: I did nothing wrong. …

COVID-19 lockdown, business interruption policies and insurance

To account for disruptions in their usual functioning, businesses safeguard themselves by purchasing insurances that mitigate such risks. These are usually covered through an ‘all risk policy’, a ‘business package policy’, or a ‘standard fire and special perils policy’, which generally cover loss of profit due to a business interruption. In India, business interruption insurance is not sold on a standalone basis and is covered as a part of the aforementioned policies. COVID-19 and the resultant national lockdown which has been in effect since March 25, 2020 has brought regular functioning of businesses throughout the country to a standstill. In these times, it is important for companies to understand the coverage provided under such insurance policies and if there is …

Coronavirus: Home design startup Livspace lays off 450 employees

Bengaluru-based Livspace, which is into home design and renovation, has laid off 450 employees — 15 percent of its total workforce — due to the adverse impact of the coronavirus-induced lockdown. The decision to lay off was taken last week. Earlier this month, leading co-working operator WeWork India also announced laying off nearly 100 employees. Founded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace provides a three-sided marketplace and a design automation platform that connects homeowners, certified designers, and vendors.Also ReadLockdown impact: WeWork India to lay off around 100 employees Livspace uses data science-enabled algorithms to match homeowners with designers (based on style preferences, budget, scope of work and timelines). "Due to the COVID-19 pandemic, like every business in …