VATICAN CITY (Reuters) – Pope Francis met on Monday with Australian Cardinal George Pell, the Vatican’s former economy minister who has returned to Rome after the firing of an Italian cardinal whom Pell had accused of obstructing financial reform.

Pell was cleared earlier this year of sexual abuse charges in Australia after spending 13 months in prison, and it remains unclear whether he will take up another role in the Vatican.

The Vatican announced the meeting between Pell and Pope Francis in a statement on the pope’s daily private audiences, but gave no details. “It went very well,” Pell told reporters in front of his residence just outside the Vatican walls.

Pell returned to Rome on Sept. 30, just days after the pope fired Pell’s nemesis, Italian Cardinal Angelo Becciu, who was accused of embezzlement and nepotism. Becciu has denied all wrongdoing.

While Becciu was number two in the Vatican’s Secretariat of State and Pell was economy minister, the two had a very stormy relationship.

Becciu told reporters the day after he was sacked about a meeting between Pell, the pope and Becciu where Pell told Becciu, “You are dishonest”, and Becciu replied: “How dare you!”

After Becciu was sacked, Pell said: “The Holy Father was elected to clean up Vatican finances. He plays a long game and is to be thanked and congratulated on recent developments.”

Pell said he hoped the “cleaning of the stables” would continue.

Becciu’s lawyer has denied Italian media reports that his client sent money to Australia to help Pell’s “enemies” while he was facing the sexual abuse charges.

Through his lawyer, the Australian man who accused Pell of sexually abusing him two decades ago denied Italian reports speculating that he may have been bribed to testify.

Pell’s Australian lawyer, Robert Richter, called for an

(Bloomberg) — The guardians of the global economy will gather this week under the cloud of the worst recession since the Great Depression, and a recovery dependent on scientists finding a coronavirus vaccine.

The International Monetary Fund and World Bank will hold their annual meetings, with both calling on the Group of 20 largest economies to extend a freeze in debt payments from the world’s poorest nations that’s set to expire at year end.

While the fund last month flagged a “small upward revision” to its 2020 growth forecast from its June outlook, it warned the rebound will be long and uneven.



chart, line chart: Goodbye V, Hello L


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Goodbye V, Hello L

The IMF has been encouraging governments to spend whatever they need to confront the crisis, even while warning that debt as a percentage of GDP will rise to about 100% for the first time.

Fund officials earlier this month proposed reforms to debt restructuring for countries that struggle to meet obligations, a burden likely to rise as the pandemic batters economies. Debt vulnerabilities will be a key theme of the meetings, according to first deputy managing director Geoffrey Okamoto.

The G-20 agreed in April to waive billions of dollars in repayments by poorer nations until the end of the year under the Debt Service Suspension Initiative. The World Bank says this isn’t enough and wants borrowings reduced to prevent a bigger fallout.



chart: IMF Power Players


© Bloomberg
IMF Power Players

The IMF has also been working to figure out how to transfer existing reserve assets known as special drawing rights from rich countries that don’t need them to poorer nations that do. A proposal to create $500 billion in SDRs was blocked in April by the U.S., the fund’s biggest shareholder, which criticized the plan as inefficient.

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What Bloomberg’s Economists Say…

“With the



a close up of a computer keyboard: Lemonade logo displayed on smartphone laying on top of computer keyboard.


© Source: Stephanie L Sanchez / Shutterstock.com
Lemonade logo displayed on smartphone laying on top of computer keyboard.

Lemonade (NYSE:LMND) has sloped down since its IPO, but there’s reason to be hopeful about Lemonade stock at these levels.



a close up of a computer keyboard: Lemonade logo displayed on smartphone laying on top of computer keyboard.


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Lemonade logo displayed on smartphone laying on top of computer keyboard.

Big data is radically transforming how we do business. Data collection and interpretation is becoming easier and more accessible. As a result, companies now have more raw data than ever before, and it is helping businesses make more informed decisions. That’s why Lemonade stock has become such an attractive play in the insurance sector.

Lemonade is a new company that is operating within a very competitive market. But the business model sets it apart from its peers.

Lemonade leverages big data and artificial intelligence to improve the underwriting process, detect fraud, and process claims. Due to this efficient and sustainable model, it looks more attractive than peers Allstate (NYSE:ALL) and Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) — especially if you are forward-looking.

Although Lemonade stock is trading at very high multiples, I would still class shares a bargain, considering they are at a 43% discount to their 52-week high of $96.51. And that in terms of revenue growth, it stands head and shoulders above its peers.

Lemonade Stock Is a Growth Stock With a Solid Story



chart, line chart: Chart showing the revenue growth rates in the insurance market and how it correlated to share price spikes in Lemonade stock


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Chart showing the revenue growth rates in the insurance market and how it correlated to share price spikes in Lemonade stock


Source: Chart by Faizan Farooque, data from filings and analyst reports

Peter Sondergaard, Senior Vice President, Gartner, has said, “Information is the oil of the 21st century, and analytics is the combustion engine.” Long story short, data is a big