FAO / Faidutti

A new study reveals global forest cover is at least 9% higher than previously thought — that amounts to 467 million hectares of forest that haven't ever been reported before.

Why it matters: These forests contain some of the "most threatened, yet disregarded, ecosystems." Plus these forests act as sinks by storing carbon in plants, trees, and soil and keep it from circulating in the atmosphere. These additional hectares of forest are likely to change estimates of how much carbon can be held by Earth's vegetation, which is thought to have an upper limit, according to the IPCC.

Why we're just hearing this: Previous estimates of dryland forests have been disputed due to differences in satellite spatial resolution, mapping techniques, and the definition of forests themselves (for example, how much tree coverage constitutes a forest).

Methodology: The research team used satellite data from Google Earth to examine a sample pool of 213,795 0.5-hectare plots around the world at high-spatial and -time resolutions. The researchers used this sample pool of plots to estimate forest cover over the entire planet.

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.