Feb 28 Financial pain deepens as nearly 60 countries report virus By Foster Klug, Matt Sedensky, Associated Press Globally, more than 83,000 people have fallen ill with the novel coronavirus. Continue reading
Feb 27 Regulators boost PG&E's wildfire fine to $2.1 billion By Michael Liedtke, Associated Press The increased punishment includes a $200 million payment earmarked for the people who lost family and property in catastrophic wildfires caused by PG&E's outdated electrical grid and negligence during 2017 and 2018. Continue reading
Feb 27 Watch 4:09 Novel coronavirus is hitting the financial markets hard. Here's what we know Economic worries sparked by the global outbreak of novel coronavirus are pushing major stock indexes lower -- down at least 10 percent from recent record highs. More than $2 trillion of value have been wiped out this week, translating to… Continue watching
Feb 27 Watch 7:52 New book explores the schemes and scandals of Deutsche Bank By Paul Solman The fallout from the 2008 global financial crisis revealed that some of the world's most powerful banks were involved in reckless financial dealings. Germany’s Deutsche Bank took a particularly aggressive approach -- the consequences of which are still playing out… Continue watching
Feb 27 Pence tries to project calm as U.S. virus response coordinator By Zeke Miller, Darlene Superville, Associated Press Pence convened his first meeting of the Coronavirus Task Force on Thursday, one day after President Donald Trump made him the government's point-person for the epidemic. Continue reading
Feb 27 Stock market sinks amid growing coronavirus concerns By Stan Choe, Alex Veiga, Associated Press The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy. Continue reading
Feb 27 Lebanon begins 'historic' offshore oil drilling amid financial crisis By Zeina Karam, Associated Press Lebanon's president Thursday inaugurated the Mediterranean country's first offshore exploratory drilling for oil and gas. Continue reading
Feb 27 U.S. economy grew 2.1 percent in Q4 2019 By Martin Crutsinger, Associated Press The economy grew at the end of last year, but damage from the spreading novel coronavirus is likely depressing growth in the current quarter and for 2020 as a whole. Continue reading
Feb 26 Utility to pay $53 million for blasts that damaged homes, killed 1 By Alanna Durkin Richer, Associated Press Authorities said Wednesday that Columbia Gas of Massachusetts has agreed to plead guilty to violating the Pipeline Safety Act and pay the largest criminal fine ever imposed under the law. Continue reading
Feb 25 Trump, U.S. officials send mixed messages on coronavirus risk By Ricardo Alonso-Zaldivar, Jonathan Lemire, Associated Press President Donald Trump and his chief economic adviser say coronavirus is under control in the U.S., even as the government's top disease fighters warn Americans to prepare for an outbreak. Continue reading