Four of the world’s largest investment banks have raised concern that a major chunk of the global recovery in companies’ earnings – recovery expected in the first quarter of 2021 – is at risk of being pushed back further as coronavirus lockdowns and mobility restrictions in several countries cloud hopes of a swifter economic rebound. This, Al Jazeera reports as China announced lockdowns in four cities on Wednesday, Germany, the United Kingdom, and the Netherlands indicated strict COVID-19 curbs would last into early February, and Italy said it would extend its state of emergency to the end of April, while Japan also expanded a state of emergency in Tokyo, hurting the prospects of holding an already-delayed Summer Olympic Games.
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