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COVID-19 Forcing Petrochemical Leaders to Rethink Industry’s Future

Petrochemical industry leaders and financial investors need to update their strategic agendas and focus on recovery scenarios, regionalized supply chains, and capital productivity. That is, if they want to minimize the negative impact of the coronavirus pandemic on the industry, according to McKinsey & Company. In a recent analysis, the global consulting firm wrote that slowing…

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Lisbon’s Short-Term Rentals: Occupancy Plummets, But Some Signs of Recovery

The tidal wave of travel cancellations that came along with the coronavirus pandemic upended usual accommodation patterns and put heavy pressure on occupancy levels across the world. Portugal was no exception, with its always-bustling capital now much quieter than usual and a large number of its hotel rooms and vacation rentals remaining dormant.    Exclusive…

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Global Office Market to Recover in 10 Years Despite Rise in Remote Work

The coronavirus pandemic hit the global office real estate market hard but it is expected to fully recover in the next decade despite the accelerating remote work trend, says a new study. “The structural impacts of work-from-home trends will be offset by factors such as economic growth, population growth, and office-using penetration, which means demand…

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COVID-19: Global Economic Sentiment Shifting Toward Optimism

Executives almost worldwide are more optimistic about the economy and their own companies’ performance than they have been at any time so far during the coronavirus pandemic, according to a new survey by McKinsey & Company. “More than half of all executives surveyed say economic conditions in their own countries will be better six months…

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Ending COVID-19 Lockdowns Not Enough for Economic Rebound: Report

Lifting coronavirus lockdown restrictions may not by itself be sufficient to restore confidence or growth and economic recovery will start only when the pandemic is under control, according to McKinsey & Company. “The evidence heavily suggests that a multifaceted public-health response that goes well beyond a simple transient lockdown is a necessary first step to…

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These 3 Nascent Macro Technology Forces Will Drive Transformational Change

Ambient experience, exponential intelligence, and quantum are three technologies that are waiting in the wings and will likely become macro forces toward the end of the 2020s, according to Global accounting and consulting firm Deloitte. “Like cloud technologies before them, they will evolve over time and perhaps cross-pollinate with other forces to create something wholly…

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Short-Time Work: A Beacon of Hope Amid COVID-19 Layoffs

Short-time work policies hold the promise of helping countries combat the economic crisis caused by COVID-19 if they are aided by high uptake, generous wage replacement, incentives, and higher flexibility, says an economist. Michael Wolf from the Deloitte Global Economist Network cites short-time work—sometimes called a work-sharing program—as a policy that has gained considerable popularity…

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