1.American Airlines: once federal aid expires, American Airlines will cut its workforce by 40, 000 in October, including 19000 unpaid leave jobs, as a result of the COVID-19 epidemic. American Airlines says 23500 employees have accepted arrangements such as early retirement and long-term leave.

2.The United Nations predicts that export revenue from global international tourism in 2020 will fall by up to $1.17 trillion, or about 79 per cent, from the presumed $1.478 trillion in 2019 as a result of the COVID-19 pandemic. 120 million people in the tourism industry may be out of work.

3.The Korean Physicians Association, which has 130000 members, said that tens of thousands of doctors and interns in large hospitals and clinics across the country will go on strike for three days from the 26th to protest against plans to expand medical school enrollment. South Korean doctors accuse the government of making “hasty unilateral decisions”, arguing that South Korea already has enough medical staff and that existing doctors should be paid more.

4.Facebook has agreed to pay 106 million euros in back taxes to the French government to resolve revenue disputes in France, which cover its operations in France over the past decade. The social networking giant also agreed to pay 8.46 million euros in taxes to France in 2020, 50% more than in 2019.

5.Unseasonally adjusted e-commerce retail sales rose 44% from a year earlier to $201 billion in the second quarter of this year, according to data released by the U.S. Department of Commerce. The seasonally adjusted figure is U$211 billion. E-commerce retail sales rose U$62 billion in the second quarter from a year earlier, the biggest increase since the Commerce Department released the figures in 2001.

 6.In order to modernize Britain’s armed forces, senior British military officials are considering abandoning all tanks. It is reported that British government ministers question the value of retaining tank troops. At present, there are 227 Challenger 2 tanks and 388 Warriors armored vehicles in Britain. At present, Russia, the United States and China rank in the top three in the number of tanks, with 12950, 6333 and 5800 respectively.

7.The Organization for Economic Cooperation and Development said that according to a preliminary assessment, its members’ real gross domestic product fell 9.8% in the second quarter from the previous quarter, the largest decline since records began. Of the seven largest developed economies, the UK economy fell by 20.4% month-on-month, the most pronounced decline. The OECD now has members such as the United States, Britain, France, Germany and Japan, most of which are developed countries, but also a small number of emerging economies.

8.US: The revised annualized rate of GDP fell by 31.7% in the second quarter, the estimated decline was 32.5%, and the initial value was down 32.9%. The US economy shrank slightly less in the second quarter than originally reported, but the revision did little to ease the market, as it was still the biggest contraction since the Great Depression.

9.Federal Reserve Chairman Colin Powell: the Fed’s inflation target is 2%. The Fed does not provide a formula to define an average inflation rate of 2%. If inflation rises “above our target”, the Fed will “act without hesitation”.