March 9, 2021 Biz in 60

Business in 60 Seconds

OECD revises up global growth forecast for 2021 The Organization of Economic Cooperation and Development has revised up its forecast for global growth this year because of the relatively rapid rollout of COVID-19 vaccines. The OECD now predicts a 5.6-percent expansion, led by a recovery in the US, China and India. It has also increased its growth forecast for the Turkish economy by 3-percentage points to 5.9-percent this year. Zoom founder transfers stock worth more than $6B Zoom founder Eric Yuan has transferred more than 6-billion dollars' worth of his stake in the video-conferencing company. Filings show Yuan - who's also Zoom's chief executive - donated around 40-percent of his shares to unspecified beneficiaries last week. He's the latest in a number of the world's mega-rich to have transferred stock recently, including Amazon founder Jeff Bezos. GameStop shares surge more than 40% on e-commerce plans GameStop shares have surged more than 40-percent on news the world's largest video game retailer is developing an e-commerce strategy with Chewy dot-com founder, Ryan Cohen. Cohen, who made a large investment in the company last year, has been pushing for a move away from the traditional brick-and-mortar model since joining the board in January.