Big Oil Took a Big Hit from the Coronavirus, Earnings Reports Show

insideclimatenews.org

Companies report billions in losses and decreased value of assets, but still plan to expand oil and gas production going forward.

Europe has kept down pandemic unemployment — and the U.S. hasn’t. Here’s why.

A closed sign is posted in the window of a store because of the coronavirus, in an outdoor mall, in Dedham, Mass. (AP Photo/Steven Senne)
A closed sign is posted in the window of a store because of the coronavirus, in an outdoor mall, in Dedham, Mass. (Steven Senne)
April 24, 2020 at 6:00 p.m. GMT+7

For the first time, the U.S. government is subsidizing companies to hold on to their workers. However, the Paycheck Protection Program (PPP) that Congress passed to fight unemployment in the coronavirus economic crisis is having trouble delivering benefits. Its first round of funds was quickly exhausted.

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World Bank Predicts Sharpest Decline of Remittances in Recent History

worldbank.org

WASHINGTON, April 22, 2020 — Global remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country. Remittances to low and middle-income countries (LMICs) are projected to fall by 19.7 percent to $445 billion, representing a loss of a crucial financing lifeline for many vulnerable households.
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