By MICHAEL LIEDTKE and JONATHAN MATTISE

AP – A new report sheds light on how world leaders, powerful politicians, billionaires and others have used offshore accounts to shield assets collectively worth trillions of dollars over the past quarter-century.

The report by the International Consortium of Investigative Journalists brought promises of tax reform and demands for resignations and investigations, as well as explanations and denials from those targeted.

The investigation published late Sunday involved 600 journalists from 150 media outlets in 117 countries. It’s being dubbed the “Pandora Papers” because the findings shed light on the previously hidden dealings of the elite and the corrupt.

Hundreds of politicians, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets, according to a review of nearly 12 million files obtained from 14 firms located around the world.

The more than 330 current and former politicians identified as beneficiaries of the secret accounts include Jordan’s King Abdullah II, former U.K. Prime Minister Tony Blair, Czech Republic Prime Minister Andrej Babis, Kenyan President Uhuru Kenyatta, Ecuador’s President Guillermo Lasso, and associates of both Pakistani Prime Minister Imran Khan and Russian President Vladimir Putin.

The billionaires called out in the report include Turkish construction mogul Erman Ilicak and Robert T. Brockman, the former CEO of software maker Reynolds & Reynolds.

Many of the accounts were designed to evade taxes and conceal assets for other shady reasons, according to the report. Some of those targeted strongly denied the claims on Monday.

“The new data leak must be a wake-up call,” said Sven Giegold, a Green party lawmaker in the European Parliament. “Global tax evasion fuels global inequality. We need to expand and sharpen the countermeasures now.”

Oxfam International, a British consortium of charities, applauded the Pandora Papers for exposing brazen examples of greed that deprived countries of tax revenue that could be used to finance programs and projects for the greater good.

“This is where our missing hospitals are,” Oxfam said in a statement. “This is where the pay-packets sit of all the extra teachers and firefighters and public servants we need.”

The European Commission, the 27-nation European Union’s executive arm, said in response to the revelations that it is preparing new legislative proposals to enhance tax transparency and reinforce the fight against tax evasion.

The Pandora Papers are a follow-up to a similar project released in 2016 called the “Panama Papers” compiled by the same journalistic group.

The latest bombshell is even more expansive, relying on data leaked from 14 different service providers doing business in 38 different jurisdictions. The records date back to the 1970s, but most are from 1996 to 2020.

The investigation dug into accounts registered in familiar offshore havens, including the British Virgin Islands, Seychelles, Hong Kong and Belize. But some of the secret accounts were also scattered around in trusts set up in the U.S., including 81 in South Dakota and 37 in Florida.

The investigation found advisers helped Abdullah, the king of Jordan, set up at least three dozen shell companies from 1995 to 2017, helping the monarch buy 14 homes worth more than $106 million in the U.S. and the U.K. One was a $23 million California ocean-view property bought in 2017 through a British Virgin Islands company. The advisers were identified as an English accountant in Switzerland and lawyers in the British Virgin Islands.

Abdullah denied any impropriety in a comment Monday by the Royal Palace, citing security needs for keeping the transactions quiet and saying no public funds were used.

U.K attorneys for Abdullah said he isn’t required to pay taxes under his country’s law and hasn’t misused public funds. The attorneys also said most of the companies and properties are not connected to the king or no longer exist, though they declined to provide details.

Blair, U.K. prime minister from 1997 to 2007, became the owner of an $8.8 million Victorian building in 2017 by buying a British Virgin Islands company that held the property, and the building now hosts the law firm of his wife, Cherie Blair, according to the the investigation. The two bought the company from the family of Bahrain’s industry and tourism minister, Zayed bin Rashid al-Zayani. Buying the company shares instead of the London building saved the Blairs more than $400,000 in property taxes, the investigation found.

The Blairs and the al-Zayanis both said they didn’t initially know the other party was involved in the deal, the probe found. Cherie Blair said her husband wasn’t involved in the purchase, which she said was meant to bring “the company and the building back into the U.K. tax and regulatory regime.” She also said she did not want to own a British Virgin Islands company and that the “seller for their own purposes only wanted to sell the company,” which is now closed.

A lawyer for the al-Zayanis said they complied with U.K. laws.

The report also analyzed a transaction involving the British monarchy.

Britain’s Crown Estate, the property business owned by Queen Elizabeth II, said it would review the 67 million-pound ($91 million) purchase of a London building from a company reported to be a front for the family of Azerbaijan’s President Ilham Aliyev. The Guardian said the deal raised questions about whether the transaction should be investigated on money-laundering concerns. Aliyev, who has ruled Azerbaijan since 2003, has been accused of corruption and rights abuses.

The Crown Estate said it had conducted checks before the purchase but amid the questions raised is now “looking into the matter” again.

Khan, the Pakistani prime minister, is not accused of any wrongdoing. But members of his inner circle, including Finance Minister Shaukat Fayaz Ahmed Tarin, are accused of hiding millions of dollars in wealth in secret companies or trusts, according to the journalists’ findings.

In a tweet, Khan vowed to recover the “ill-gotten gains” and said his government will look into all citizens mentioned in the documents and take action, if needed.

The consortium of journalists revealed Putin’s image-maker and chief executive of Russia’s leading TV station, Konstantin Ernst, got a discount to buy and develop Soviet-era cinemas and surrounding property in Moscow after he directed the 2014 Winter Olympics in Sochi. Ernst told the organization the deal wasn’t secret and denied suggestions he was given special treatment.

In 2009, Babis, the Czech prime minister, put $22 million into shell companies to buy a chateau property in a hilltop village in Mougins, France, near Cannes, the investigation found. The shell companies and the chateau were not disclosed in Babis’ required asset declarations, according to documents obtained by the journalism group’s Czech partner, Investigace.cz.

A real estate group owned indirectly by Babis bought the Monaco company that owned the chateau in 2018, the probe found.

Babis has denied any wrongdoing. He said the report was meant to harm him ahead of the Czech Republic parliamentary election being held on Friday and Saturday.

The Czech police’s organized crime unit said it would launch an investigation.

Montenegro’s President Milo Djukanovic faced calls to resign after he was listed as one of the world leaders who used secret accounts to hide their property. His office denied a report by the local Montenegrin Network for the Affirmation of the Non-Governmental Sector, which alleged he and his son established a trust to conceal their wealth behind a complicated network of companies.

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Liedtke reported from San Ramon, California, and Mattise reported from Nashville, Tennessee. Associated Press writers Barry Hatton in Lisbon, Portugal, Karel Janicek in the Czech Republic, Frank Jordans in Berlin, Josef Federman in Jerusalem, John Rice in Mexico City, Kathy Gannon in Islamabad, Pakistan, and Felicia Fonseca in Phoenix contributed to this report.

By MATTHEW PERRONE

WASHINGTON (AP) — Drugmaker Merck said Friday that its experimental COVID-19 pill reduced hospitalizations and deaths by half in people recently infected with the coronavirus and that it would soon ask health officials in the U.S. and around the world to authorize its use.

If cleared, the drug would be the first pill shown to treat COVID-19, a potentially major advance in efforts to fight the pandemic. All COVID-19 therapies now authorized in the U.S. require an IV or injection.

Merck and its partner Ridgeback Biotherapeutics said early results showed patients who received the drug, called molnupiravir, within five days of COVID-19 symptoms had about half the rate of hospitalization and death as patients who received a dummy pill. The study tracked 775 adults with mild-to-moderate COVID-19 who were considered higher risk for severe disease due to health problems such as obesity, diabetes or heart disease.

Among patients taking molnupiravir, 7.3% were either hospitalized or died at the end of 30 days, compared with 14.1% of those getting the dummy pill. There were no deaths in the drug group after that time period compared with eight deaths in the placebo group, according to Merck. The results were released by the company and have not been peer reviewed by outside experts, the usual procedure for vetting new medical research. Merck said it plans to present them at a future medical meeting.

An independent group of medical experts monitoring the trial recommended stopping it early because the interim results were so strong. That is typical when early results so clearly show a treatment works that there is no need for further testing before applying for authorization. Company executives said they plan submit the data for review by the Food and Drug Administration in coming days. Once the submission is complete, the FDA could make a decision within weeks — and, if approved, the drug could be on the market soon after.

“It exceeded what I thought the drug might be able to do in this clinical trial,” said Dr. Dean Li, vice president of Merck Research Laboratories. “When you see a 50% reduction in hospitalization or death that’s a substantial clinical impact.”

Side effects were reported by both groups in the Merck trial, but they were slightly more common among the group that received a dummy pill. The company did not specify the problems.

Patients take the pill twice a day for five days to complete a course of treatment.

Earlier study results showed the drug did not benefit patients who were already hospitalized with severe disease.

The U.S. has approved one antiviral drug, remdesivir, specifically for COVID-19, and allowed emergency use of three antibody therapies that help the immune system fight the virus. But all the drugs have to given by IV or injection at hospitals or medical clinics, and supplies have been stretched by the latest surge of the delta variant.

Health experts including the top U.S. infectious disease expert Dr. Anthony Fauci have long called for a convenient pill that patients could take when COVID-19 symptoms first appear, much the way the standard flu medication Tamiflu helps fight influenza. Such medications are seen as key to controlling future waves of infection and reducing the impact of the pandemic.

Merck’s pill works by interfering with the coronavirus’s ability to copy its genetic code and reproduce itself. It has shown similar activity against other viruses.

The U.S. government has committed to purchase 1.7 million doses of the drug if it is authorized by the FDA. Merck has said it can produce 10 million doses by the end of the year and has contracts with governments worldwide. The company has not announced prices.

Several other companies, including Pfizer and Roche, are studying similar drugs that could report results in the coming weeks and months.

Merck had planned to enroll more than 1,500 patients in its late-stage trial before the independent board stopped it early. The results reported Friday included patients enrolled across Latin America, Europe and Africa. Executives estimated about 10% of patients studied were from the U.S.

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.

By KEVIN FREKING

WASHINGTON (AP) — Congress is moving to avert one crisis while putting off another with the Senate poised to approve legislation that would fund the federal government into early December.

The House is expected to approve the measure following the Senate vote Thursday, preventing a partial government shutdown when the new fiscal year begins Friday.

Democrats were forced to remove a suspension of the federal government’s borrowing limit from the bill at the insistence of Republicans. If the debt limit isn’t raised by Oct. 18, the country would likely face a financial crisis and economic recession, says Treasury Secretary Janet Yellen. Republicans say Democrats have the votes to raise the debt ceiling on their own, and Republican leader Mitch McConnell is insisting that they do so.

But the most immediate priority facing Congress is to keep the government running once the current fiscal year ends at midnight Thursday. The bill’s expected approval will buy lawmakers more time to craft the spending bills that will fund federal agencies and the programs they administer.

Meanwhile, Democrats are struggling over how to get President Joe Biden’s top domestic priorities over the finish line. Those include a bipartisan infrastructure bill that contains $550 billion in new spending for roads, bridges, broadband and other priorities, as well as a $3.5 trillion slate of social, health and environmental programs.

“With so many critical issues to address, the last thing the American people need right now is a government shutdown,” said Senate Majority Leader Chuck Schumer, D-N.Y.

Schumer said the stopgap spending legislation will also provide aid for those reeling from Hurricane Ida and other natural disasters as well as funding to support Afghanistan evacuees from the 20-year war between the U.S. and the Taliban.

Action in the final hours to avoid a partial government shutdown has become almost routine, with lawmakers usually able to fashion a compromise. The funding bill was slowed this time by disagreement over allowing the government to take on more debt so that it could continue to meet its financial obligations. Currently the borrowing cap is set at $28.4 trillion.

The U.S. has never defaulted on its debts in the modern era, and historically both parties have voted to raise the limit. Democrats joined the Republican Senate majority in doing so three times during Donald Trump’s presidency. This time Democrats wanted to take care of both priorities in one bill, but Senate Republicans blocked that effort Monday.

Raising or suspending the debt limit allows the federal government to pay obligations already incurred. It does not authorize new spending. McConnell has argued that Democrats should pass a debt limit extension with the same budgetary tools they are using to try to pass a $3.5 trillion effort to expand social safety net programs and tackle climate change.

“There is no tradition of doing this on a bipartisan basis. Sometimes we have and sometimes we haven’t,” McConnell told reporters about past debt ceiling increases.

House Democrats complained about the steps they were being forced to take as they approved a standalone bill late Wednesday that would suspend the debt ceiling until December 2022. That bill now heads to the Senate, where it is almost certain to be blocked by a Republican filibuster.

“You are more interested in punishing Democrats than preserving our credit and that is something I’m having a real tough time getting my head around,” House Rules Committee Chairman Jim McGovern, D-Mass., told Republicans. “The idea of not paying bills just because we don’t like (Biden’s) policies is the wrong way to go.”

But Republicans were undaunted. They argued that Democrats have chosen to ram through their political priorities on their own, and thus are responsible for raising the debt limit on their own.

“So long as the Democratic majority continues to insist on spending money hand over fist, Republicans will refuse to help them lift the debt ceiling,” said Rep. Tom Cole, R-Okla.

McGovern said Republicans ballooned the debt under Trump and now are washing their hands of the consequences.

“Republicans have now rediscovered the issue of the debt,” McGovern said. “Where the hell were you the last four years?”

The Treasury has taken steps to preserve cash, but once it runs out, it will be forced to rely on incoming revenue to pay its obligations. That would likely mean delays in payments to Social Security recipients, veterans and government workers, including military personnel. The Bipartisan Policy Center, a think tank, projects that the federal government would be unable to meet about 40% of payments due in the several weeks that follow.

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Associated Press writer Brian Slodysko contributed to this report.