Australia in recession; record deaths in Brazil; Zoom makes $27m profit in one quarter; South Korea announces huge stimulus
Stock markets in Asia have risen to their highest level for almost three months on the back of renewed optimism that the global economy will recover strongly from the coronavirus crisis. Despite the rising markets, in Australia the treasurer has announced the country is in its first recession for 29 years because of the pandemic.
The spread of the virus has become increasingly alarming in Brazil, which registered another record number of fatalities from Covid-19 on Tuesday, the health ministry said. The situation also worsened elsewhere in Latin America.
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