Money

ANCHORAGE, Alaska (AP) — An oil exploration firm has discovered a deposit of potentially 1.8 billion barrels in Alaska’s North Slope region south of Prudhoe Bay, the company said. Pantheon Resources PLC said it located the deposit along the Dalton Highway and Trans-Alaska Pipeline System corridor, The Alaska Journal of Commerce reported Wednesday. The London-based […]

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the global economy, the work place and the spread of the virus. ___________________ GLOBAL SHOCK: There is no place on earth inhabited by humans that is not being hit by the economic shock […]

LONDON (AP) — The British government is getting a bigger overdraft at the Bank of England, a further sign of the severe strains on its finances caused by the economic fallout of the coronavirus pandemic. In a joint statement Thursday, they said the government’s so-called “Ways and Means” facility will be temporarily expanded to give […]

BERLIN (AP) — Two planeloads of Eastern European farmhands arrived Thursday in Berlin and Duesseldorf amid strict precautions to protect the country from the new coronavirus, as an ambitious German program to import thousands of seasonal agricultural workers got underway. Seasonal workers had been caught up in the country’s ban on travel after the outbreak […]

What does toilet paper have to do with a global pandemic? Nothing. Yet millions of people have been panicking about their household supply. Stores shelves have been emptied. Amazon is often out of stock. And social media is bursting with jokes and pleas for a roll or two. The good news: Things are calming down, […]

BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will fail to match the speed […]

COLUMBUS, Ohio (AP) — One of Emily Hughes’ first memories after entering law school at the University of Cincinnati in 2017 is an assistant dean scrawling “July 28-29, 2020” across a chalkboard. “Does anyone know what these dates are?” he asked. One student hummed the graduation march. But, no. It was the date of the […]

WASHINGTON (AP) — Senate Democrats on Thursday stalled President Donald Trump’s request for $250 billion to supplement a “paycheck protection” program for businesses crippled by the coronavirus outbreak, demanding protections for minority-owned businesses and money for health care providers and state and local governments. They blocked a request by Majority Leader Mitch McConnell, R-Ky., to […]

With a startling 6.6 million people seeking jobless benefits last week, the United States has reached a grim landmark: Roughly one in 10 workers have lost their jobs in just the past three weeks. Meanwhile, a spike in deaths in Britain and New York and surges of reported new infections in Japan and India’s congested […]

WASHINGTON (AP) — The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support the economy. The money will target American households and businesses, as well as local governments besieged by the coronavirus outbreak. The Fed said Thursday that it is activating a Main Street Business Lending Program authorized […]