• While the October 1929 stock market crash triggered the Great Depression, multiple factors turned it into a decade-long economic catastrophe.
  • Overproduction, executive inaction, ill-timed tariffs, and an inexperienced Federal Reserve all contributed to the Great Depression.
  • The Great Depression’s legacy includes social programs, regulatory agencies, and government efforts to influence the economy and money supply. 
  • Visit Insider’s Investing Reference library for more stories.

The Great Depression was the worst economic period in US history.

It lasted roughly a decade: from 1929, the year the stock market crashed, to 1939, when the US started mobilizing for World War II. Industrial production fell by nearly 47% and gross domestic production (GDP) declined by 30%. Almost half of US banks collapsed, stock shares traded at a third of their previous value, and nearly one-quarter of the population was jobless — at a time when unemployment insurance didn’t exist.

While the stock market

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Two unions in State Bank of India (SBI) have expressed resentment at controllers not sanctioning timely leave to branch officials infected with Coronavirus, leading to some succumbing to the deadly virus.

According to the Unions, this allegedly callous attitude of some of the controllers under the purview of local head offices (LHOs) comes despite the corporate centre clearly instructing them to follow the various advisories/standard operating procedures (SOPs) issued by it relating to the preventive/precautionary measures to be adopted to ensure the safety and security of employees.

The SBI Officers’ Association has raised the issue of non-sanction of timely leave to a young Manager of a branch under the Visakhapatnam Regional Business Office (RBO), as he succumbed to Covid-19 last week.

The Association emphasised that had the authorities in RBO taken timely action by sanctioning leave, a precious life would have been saved. It has sought investigation into the matter

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Here’s what you need to know:

Credit…Saumya Khandelwal for The New York Times

The damage to the world’s major economies from coronavirus lockdowns has been more than four times more severe than the 2009 global financial crisis, and created an “unprecedented” blow to growth in the second quarter in almost every country except China, where the virus was first detected, the Organization for Economic Cooperation and Development said Monday.

Growth in the nations represented by the Group of 20 — an organization of 19 countries and the European Union, representing 80 percent of the world’s economic production — fell by a record 6.9 percent between April and June from the previous three months, as governments kept people indoors and froze business activity. The drop eclipsed a

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One in six local businesses increasingly fear they won’t survive the repercussions of the COVID-19 pandemic, and several already report shutting down, according to a survey released Wednesday by the Anchorage Economic Development Corp.

“We’ve got a long road in front of us in terms of the damage we’ve incurred already from COVID-19,” said Bill Popp, president of AEDC. “A fair number of businesses aren’t sure they’ll make it through this.”

The survey polled 195 businesses, but not all respondents answered every question. The survey found that 165 respondents, or 85%, said they experienced disruption to their business during the pandemic, including declining sales and job cuts, and changes to work patterns such as more employees working remotely.

Fourteen businesses, or 9% of respondents to the question, said they have already closed permanently, according to the survey, created in conjunction with the McDowell Group, a research firm.

The survey does

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New white paper includes insights from conversations with more than 1,400 business and IT leaders as part of the annual CGI Client Global Insights 

MONTRÉAL, QC, Aug. 25, 2020 /PRNewswire/ – CGI (TSX: GIB.A) (NYSE: GIB) released a new white paper, “Charting the path forward with resilience and adaptability,” that identifies the key organizational capabilities public and private sector executives need to help navigate significant economic, market and business changes caused by the COVID-19 pandemic. Authored by President & CEO George D. Schindler, the paper is part of an in-depth framework to help clients respond to unprecedented challenges, rebound effectively, and reinvent ways of working.

A central part of the white paper are findings from the CGI Client Global Insights, an annual consultative conversation where CGI leaders meet with business and IT executives to gather their perspectives on the trends affecting their enterprises. Based on the findings and an

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(Bloomberg) — Purdue Pharma LP, the bankrupt maker of OxyContin painkillers, helped inflict more than $2.15 trillion in financial damage on the U.S. economy while pushing highly addictive opioids on Americans for almost two decades, four dozen states told a judge.

a close up of a bottle: Bottles of Purdue Pharma L.P. OxyContin medication sit on a pharmacy shelf in Provo, Utah, U.S., on Wednesday, Aug. 31, 2016.

© Bloomberg
Bottles of Purdue Pharma L.P. OxyContin medication sit on a pharmacy shelf in Provo, Utah, U.S., on Wednesday, Aug. 31, 2016.

Almost every U.S. state and territory will seek to recover a fraction of those alleged losses in Purdue’s Chapter 11 case, which the company filed to block thousands of civil lawsuits over opioid-related deaths and injuries. New York’s losses alone total more than $165 billion, according to a joint filing by the states made public Monday in U.S. Bankruptcy Court in White Plains, New York.


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The filing comes as Purdue and its billionaire owners, the Sackler family, who aren’t in bankruptcy, deny arguments that

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