Will Italy’s Push For A Cashless Society Change Its Economy Forever?

The coronavirus pandemic has left Italy’s economy in a bad state, with the latest predictions foreseeing a -9% in GDP in 2020. At the same time, the online economy has limited the fall, leading to a +15% in the use of contactless payments and +80% of mobile payments compared to 2019. For the first time, Italy’s historic resistance to electronic transactions might be at a turning point. This is one of the reasons behind the country’s government decision to draft a plan in the direction of a ‘cashless society’, which is also meant to counter undeclared economic activity and tax evasion – a phenomenon that in Italy is worth 12% of the country’s GDP.

Even before the pandemic, Italy was not in good shape: it is at the 24th place out of 27 countries in the EU for number of

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Big Law Firms Prosper Despite Covid-Impaired Economy

Lawyers at large law firms aren’t worried, as many Americans are, about job security while the coronavirus pandemic continues to upend everyday life. Some of them are even collecting extra bonuses.

Many large law firms have excelled financially this year, even as some clients in sectors ranging from hospitality to retail have suffered. The most elite firms say they are on track for a record year, thanks to hot practice areas like restructuring and public-offerings work, and many are doling out extra money to lawyers this fall.

Firm leaders and consultants attribute the stability to lawyers’ ability to easily work from home, business that comes from a range of industries and practice areas, and a major reduction in travel expenses.

“It’s like building bridges in wartime—you prefer a different environment,” said Robert Hays, the Atlanta-based chairman of King & Spalding LLP. “But we’ve built the bridge. So in terms of

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Economy Adds 661,000 Jobs, Strengthening Case for Safely Reopening Society

The Bureau of Labor Statistics reported Friday that the unemployment rate fell to 7.9% as the economy gained 661,000 jobs in September, continuing to show signs of recovery and make the case that policymakers must continue to allow more parts of society to safely reopen.  

Although the unemployment rate beat experts’ predictions of 8.2%, the number of new jobs fell below predictions, largely due to closures of public schools and a decline in temporary workers for the 2020 census.

However, positive revisions to the July and August jobs reports added 145,000 more jobs than previously reported.        

The new jobs report shows that temporary layoffs decreased by 1.5 million, down from the high of 18.1 million in April but still 3.8 million higher than in February.  

In addition, the number of Americans who permanently lost their job increased by 345,000 to 3.8 million; this number has risen by 2.5 million since

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Economy Adds 661,000 Jobs, Strengthening Case for Safely Reopening

The Bureau of Labor Statistics reported Friday that the unemployment rate fell to 7.9% as the economy gained 661,000 jobs in September, continuing to show signs of recovery and make the case that policymakers must continue to allow more parts of society to safely reopen.  

Although the unemployment rate beat experts’ predictions of 8.2%, the number of new jobs fell below predictions, largely due to closures of public schools and a decline in temporary workers for the 2020 census 2020.

However, positive revisions to the July and August jobs reports added 145,000 more jobs than previously reported.        

The new jobs report shows that temporary layoffs decreased by 1.5 million, down from the high of 18.1 million in April but still 3.8 million higher than in February.  

In addition, the number of Americans who permanently lost their job increased by 345,000 to 3.8 million; this number has risen by 2.5 million

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Government accused of ‘ripping the heart’ out of UK night-time economy



a man standing in front of a monitor: Photograph: Tolga Akmen/AFP/Getty Images


© Provided by The Guardian
Photograph: Tolga Akmen/AFP/Getty Images

The government has been accused of abandoning the night-time and theatre sectors with its winter economy plan, which critics say will usher in a wave of mass redundancies and venue closures before the end of 2020.

Sacha Lord, Manchester’s night-time economy adviser, told the Guardian that the government fundamentally did not understand the sector and had decided to turn its back on it.

“Nightclubs have been closed since March, they’re facing another six months now – how can they possibly survive? We’re going to see the vast majority close,” said Lord.

Michael Kill, the chief executive of the Night Time Industries Association, said the sector felt like “an industry in exile” after Rishi Sunak’s economic plan was released last week, along with the decision to introduce a 10pm curfew.

He said: “Night-time businesses were already on a cliff edge, this current

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Bolivia’s Interim Government Splits as Ministers Quit Over Economy | World News

LA PAZ (Reuters) – Internal splits in Bolivia’s interim government led to the departure of the country’s economy minister and two other cabinet ministers Monday, stoking uncertainty about the Andean country’s economic recovery from the coronavirus pandemic.

Óscar Ortiz stepped down from the economy portfolio, citing “deep differences” and pressure from people close to interim President Jeanine Añez, a conservative former Senator who took over in a power vacuum after fraught elections last year.

Bolivia is heading toward a re-run of that vote on Oct. 18, which will set the political direction of the gas and lithium-rich country for the years ahead. Anez recently withdrew as a candidate after falling far behind in the polls.

The landlocked nation tumbled into political crisis last year after allegations of electoral fraud sparked widespread protests and led to the resignation of long-term leader Evo Morales. The pandemic has hammered the economy.

“I will

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Bolivia’s interim government splits as ministers quit over economy

By Daniel Ramos

LA PAZ (Reuters) – Internal splits in Bolivia’s interim government led to the departure of four cabinet members, including the minister of economy, on Monday, stoking uncertainty about the Andean country’s economic recovery from the coronavirus pandemic.

Óscar Ortiz stepped down from the economy portfolio, citing “deep differences” and pressure from people close to interim President Jeanine Añez, who recently withdrew as a candidate from Oct. 18 general elections after falling behind in the polls.

The election next month, a re-run of a fraught vote last year that plunged the poor, landlocked nation into political crisis, comes as the pandemic has sapped economic growth and eaten into government reserves.

“I will always put principles first over personal interest. No role, no matter how important, justifies going against the principles and ethics that have always guided my actions,” Ortiz told reporters.

Bolivia’s ministers of labor, development and mining

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