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☆ The beautiful African paradise islands that most tourists don’t know about
▼ + stars: | 2024-04-10 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

CNN —A couple of African paradise islands have been on the radar of avid world travelers for some time. Shellfish Bay on the island’s windward side shelters one of East Africa’s most spectacular beaches, a crescent of white sand framed by 100-meter dunes. Bazaruto Island Resort, the island’s top digs, can arrange scuba diving and snorkeling, sailing on traditional dhow boats, guided 4x4 wildlife safaris, sandboarding on the dunes and other outdoor activities. Lamu’s best beaches are on the island’s windward side, around a 30–40-minute walk via Shela village. — and an ancient stone nilometer for measuring the river’s water level — reflect the island’s importance during pharaonic times.

Persons: São Filipe, Denis, Ponta, Ariadne Van Zandbergen, Dar es Organizations: CNN, Ethiopian Airways, oneworld, Getty, UNESCO, Heritage, Cabo Verde Airlines, Overseas, Paris Orly, Animalia Museum, Egypt, Vogue, Reserve, Dar es Salam Locations: Mauritius, Seychelles, Canary, Africa, Madagascar, Addis Ababa, Bazaruto, Mozambique, East, sandboarding, Johannesburg, Vilanculos, Lamu, Kenya, Manda, Malindi, Nairobi, JamboJet, Fogo, Cape Verde, Cabo Verde, West Africa, Pico, Verde’s, Praia, Overseas Territory, Réunion, French Caribbean, L’Hermitage, Saint, Paris, Antananarivo, Elephantine, Egypt, Aswan, Bissagos, Guinea, Bissau, Bubaque, Pemba, Tanzania, Zanzibar, Tanga, Dar, FlightLink

☆ Cargo ship had engine maintenance in port before it collided with Baltimore bridge, officials say
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: +8 min

The others were presumed dead, and officials said search efforts had been exhausted. Investigators on Wednesday began collecting evidence from the vessel that struck the Francis Scott Key Bridge the previous day. U.S. Coast Guard Rear Admiral Shannon Gilreath said authorities had been informed that the ship was going to undergo the maintenance. "We were informed that they were going to conduct routine engine maintenance on it while it was in port. Video showed the ship moving at what Maryland's governor said was about 9 mph (15 kph) toward the 1.6-mile (2.6-kilometer) bridge.

Persons: Francis Scott Key, Roland L, Butler Jr, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Butler, Wes Moore, Shannon Gilreath, Jennifer Homendy, Homendy, Moore, Watson, Pete Buttigieg, Biden, Buttigieg, Gilreath Organizations: Fire, Bloomberg, Getty, U.S . Coast Guard, Maryland State Police, Maryland Gov, . Coast Guard, National Transportation Safety Board, Coast Guard, Homeland Security, Associated Press, Synergy Marine Group, Grace Ocean Private Ltd, White House, Transportation, World Association, Transport Infrastructure Locations: Baltimore, Dali, Patapsco, Baltimore , Maryland, U.S, Maryland, Mexico, Guatemala, Dundalk , Maryland, Honduras, El Salvador, Sri Lanka, Singapore, Port, Germany, Japan, United Kingdom, Windward, Annapolis

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ The Kremlin has never been richer – thanks to a US strategic partner
▼ + stars: | 2024-02-19 | by ( Nick Paton Walsh | Florence Davey-Attlee | ) edition.cnn.com time to read: +9 min

It amounts to US strategic partner New Delhi stepping in to replace crude purchases by Western buyers, reduced by sanctions over Russia’s invasion of Ukraine, the analysis said. The United States led a coalition of countries in late 2022 that agreed to a “price cap,” undertaking not to buy Russian crude above $60 a barrel. Those nations also forbade their shipping companies and insurance firms – key players in global shipping – from facilitating the trade of Russian crude above that price. “The price cap was the real trigger for the creation of the shadow fleet,” said Viktor Katona, head of crude oil analysis at trade research firm Kpler. It will be $150.”India’s complex role in global oil trade is also reflected in the fate of the oil products Russian crude is turned into.

Persons: they’re, ”, David Tannenbaum, Viktor Katona, Tannenbaum, ” Ami Daniel, Vladimir Putin, Howard Shatz, Singh Puri, Rosneft, Daniel, I’m Organizations: CNN, Centre for Research, Energy, Clean, Star, Pole Star, US Treasury, United, Pole Star Global, European Union, RAND, India’s, Petroleum, Natural Gas, CNBC, Nayara, Kremlin Locations: Russia, Ukraine, India, United States, Delhi, Moscow, Laconian Gulf, Greece, Suez, Russian, Kyiv, Vadinar

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ Fears of prolonged Red Sea shipping crisis fuel inflation fears, as oil, retail cargo delays rise
▼ + stars: | 2024-01-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

"If so, we expect the soaring freight rates and equipment shortage will continue till the third quarter," it advised clients. This would be on top of the revenue lost by diverted container vessels which are required to pay between $500,000-$600,000 per transit. "However, given the longer transit times vessels are experiencing, the market may face a shortage of empties across Asia until sailings normalize." Evelyn Fornes, Home Depot spokeswoman, said it is working with logistics carriers to find alternate routes to limit any impact from the Red Sea conflict. East Coast freight rates soar While freight rates for U.S. West Coast ports have yet to spike, freight rates for the East Coast and Gulf are up.

Persons: Folden, Shell, Jean, Charles Gordon, Nyttingnes, Torm, Euronav, Tom, Hafnia, Andy Lipow, Kuehn, Nagel, Ami Daniel, Goetz Alebrand, Stephen Schwarz, Paolo Montrone, Kuehn + Nagel, Alan Baer, Baer, Evelyn Fornes, Fornes, Lane Organizations: Galaxy, Houthis Media, Getty Images, Anadolu, Getty, U.S, Clarksons Securities, Honour Lane Shipping, Wall Street, Shell, Suez, Authority, Lipow Oil Associates, Logistics, CNBC, DHL Global, Asia Pacific, Kuehn, USA, Home, Costco, Walmart, Home Depot, Volvo, Michelin, Ikea, East, U.S . Locations: Iran, Yemen, Anadolu, Hafnia, Ardmore, Suez, Israel, Americas, Asia, Europe, Wells Fargo, Red, U.S, East Coast, U.S . West Coast, Gulf, East, West, West Coast

☆ China is producing vast undersea maps for submarine warfare, report says
▼ + stars: | 2024-01-11 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina is mapping vast areas of the Indian Ocean under the guise of civilian research — and it could be to plan submarine warfare, a think tank said. The CSIS said that while much of the research was in the western Pacific and South China Sea, Chinese research vessels increasingly focused on the Indian Ocean. AdvertisementUsing data from Windward, a maritime AI-data company, the think tank said it found Chinese research boats had conducted "hundreds of thousands of hours of operations globally over the past four years." AdvertisementThe Indian Ocean is a vital area for China's "strategic and economic interests," Matthew Funaiole, a senior fellow at CSIS who worked on the report, told The Washington Post.

Persons: —, Matthew Funaiole, Andrew Scobell Organizations: Service, Business, Center for Strategic, International Studies, China's People's Liberation Army, CSIS, Washington Post, United States Institute of Peace, Associated Press Locations: China, Pacific, South China, Windward, Beijing, India, New Delhi, Sri Lanka

☆ The Crown, the Cabinet and the UK’s legacy of slavery
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +11 min

British banks backed large parts of the U.S. slavery economy, and British factories were the world’s largest customers for the cotton produced by plantations in southern U.S. states. In 1663, it was granted a monopoly by King Charles II for the British slavery trade. In 1794, Eli Whitney patented the cotton gin, a machine that would transform the U.S. slavery economy. Mill owners including the Arkwrights, one of the richest families in the industry, were Smith family clients. Two British travel writers visited Farm Pen in 1837, when the land was still in Smith family hands.

Persons: ”, Nick Draper, George Smith, King Charles, Hunt, Trevor Burnard, “, ” Burnard, Smith, Edward, René Payne, Payne, John Tunno, John de Ponthieu, … ” Edward Payne, slaveholder John de Ponthieu, de Ponthieu, buryed, King Charles II, John Montagu, Edward Montagu, Montagu, ” John Montagu 11th Earl of Sandwich, Edward Montagu , 1st Earl of Sandwich, Nicholas Radburn, ” Radburn, Brookes, –, Eli Whitney, Rothschild, Geoffrey Clifton, Brown, William, James Brown, James, Clifton, Harriman, Draper, Morgan Chase, Joseph Sturge, Thomas Harvey Organizations: America, University College London, “, Wilberforce Institute, University of Hull, ”, Reuters, Company of Royal Adventurers of, Royal African Company, The Company, Royal Adventurers of, Lancaster University, Traders, Transatlantic, Brown Brothers, Brown, Harriman & Co, Planters Bank of Tennessee, Planters Bank of Mississippi, Rio, Spanish Town Locations: Britain, U.S, British, Caribbean, British Caribbean, America, English, Nottingham, London, West India, Bristol, Liverpool, United States, South Carolina, Charleston, Barbados, Africa, North, Clifton, New York, Louisiana and Mississippi, Louisiana, Jamaica, Kingston, Spanish

☆ Treasury Department's hunt for Russian oil sanction violators on the seas is intensifying
▼ + stars: | 2023-11-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

"Management of all the Sovcomflot ships was transferred to Sun Ship Management in March/April 2022 when their offices in Europe were closed. 30 ship owners targeted in new Treasury probeThis is just one example of the murkiness within the Russian oil trade. There are grey areas in the U.S. government's Russian oil guidelines, though the efforts can ultimately lead maritime investigators to the truth. In the U.S. Treasury's "Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil," ship owners are under a Tier 2 category. This document could provide a "safe harbor" for ship owners who are relying on that customer's "attestation" to comply with sanctions.

Persons: Wally Adeyemo, Matthew Wright, Wright, it's, hasn't, They're, shipowners, Andy Lipow, Lipow, Brent Organizations: Windward, U.S . Department, Foreign Assets Control, Treasury, Shipping, Coalition, Ukraine, United, Kazan Shipping Incorporated's, Progress Shipping Company, CNBC, Sovcomflot, Management, Sun Ship Management, Maritime Services, Ship, Lipow Oil Associates, U.S . Treasury, European Union, AIS Locations: Morocco, Price, United Arab Emirates, Kazan, Kazan Shipping Incorporated's Kazan, UAE, Europe, U.S, Asia, Ukraine, Hong Kong, China, India

“It was really beautiful native forest,” said JC Watson, the manager of the Koolau Mountains Watershed Partnership, which helps take care of the land. Hawaii’s native plants evolved without encountering regular fires and fire is not part of their natural life cycle. There are cultural losses when native forest burns. They'll devise a restoration plan that will include invasive species control and planting native species. “There has been a huge uptick in the last 10 years, largely in Waianae range, which is the western and drier portion of the island,” Gon said.

Persons: ”, JC Watson, “ It’s, ” Watson, Sam ’ Ohu Gon III, Kristen Oleyte, Velasco, Watson, Gon, “ It’ll, “ It's, — Organizations: Conservancy, Wildlife, U.S ., Fish, Wildlife Service, Fish and Wildlife Service, Firefighters Locations: HONOLULU, Hawaii, Oahu, Lahaina, U.S, Honolulu, Central Oahu

☆ ‘Dark’ ships are faking their locations to move oil around the world — and it's likely worth billions of dollars
▼ + stars: | 2023-09-26 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Maritime technology company Windward identified the area as a hub for smuggling oil. Cargo ships and car ferries cross the Kerch Strait, an area of "dark activity," according to marine technology company Windward. So that's definitely moved that focus into, okay, I'm now going to manipulate that signal," he told CNBC by video call. This can be done in a number of ways, a Spire spokesperson told CNBC by email. "If you're in the insurance industry, and you're not paying attention to this, you really need to start paying attention," Swift told CNBC by video call.

Persons: John Lusk, Christopher Swift, Foley, Lardner, We're, Lusk, Ami Daniel, Daniel, Good Hope, Iain Goodridge, Spire's, that's, I'm, " Goodridge, OFAC, Swift Organizations: Windward, Europa Press, Getty, Maritime Organization, AIS, Spire Maritime, Government, CNBC, Russia, Anadolu Agency, Venezuela, Spire, U.S . Treasury Department Locations: Morocco, Maritime, Ukraine, U.S, Russia, Kerch, Windward, Arabian, Venezuela, The U.S, East Asia, Angola, Venezuela's, South Africa's, Good, China, Malaysia

☆ Lee strengthens to hurricane, could approach Category 5 strength
▼ + stars: | 2023-09-06 | by ( Mary Gilbert | ) edition.cnn.com time to read: +4 min

Lee was located about 1,130 miles east of the northern Leeward Islands, the center said. Imagine Lee headed into 1983 waters east of the Leeward Islands (27.5C)- 2023 Lee has 29.5C to work with- an astounding difference. The last Category 5 hurricane to roam the Atlantic basin was 2022’s Hurricane Ian. Lee will ramp up in intensity as the peak of the Atlantic hurricane season approaches. Sunday, September 10, is the climatological peak of Atlantic hurricane season, when the basin is at its busiest on average.

Persons: CNN — Lee, Lee, It’s, Jason Dunion, Hurricane Idalia, David Zierden, “, ” Zierden, — Eric Blake 🌀, eason –, ”, ike, eason Organizations: CNN, National Hurricane Center, Eastern Seaboard, Leeward, NOAA’s Hurricane Field, Hurricane, ust, tate Locations: Caribbean, Leeward Islands, Windward, Gulf of Mexico, Leeward, ath

☆ The world’s most shark-filled waters
▼ + stars: | 2023-07-24 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +7 min

There were just 57 confirmed unprovoked shark attacks last year, out of a global population of 8 billion, five of which were fatal. However, some places around the world have much higher rates of shark attacks than others, with the numbers rising with the passing years. Let’s take a look at the locations worldwide with the highest rates of shark attacks between 2012 and 2021 and the reasons they’ve become hot spots. South Africa (29 bites)South Africa had 29 unprovoked shark bites between 2012 and 2021, of which six were fatal. South Carolina (45 bites)None of the 45 unprovoked attacks in South Carolina in the decade-long time frame were fatal.

Persons: Let’s, ”, Gavin Naylor, Gansbaai, they’ve, ” Neil Hammerschlag, “, ” Richard Peirce, orcas, Brad Leue, Chuck Bangley, Fernando de Noronha, Katarina Zarutskie, ” Zarutskie Organizations: CNN, Discovery, Discovery Channel, Warner Bros ., ISAF, Volusia, Florida Program, Shark Research, orcas, Conservation, University of Miami Rosenstiel School, Shark Conservation Society, International, of Oceanography, Aquaculture Locations: New York, Florida, Florida’s Volusia County, ”, Smyrna Beach, Australia, New South Wales, Western Australia, Victoria, Hawaii, Windward Oahu, South Africa, Carolina, South Carolina, Charleston, Horry, Beaufort, ” California, San Diego, California, Brunswick County, North, North Carolina, Madagascar, Mauritius, Réunion, Brazil, Pernambuco, Bahamas, Staniel Cay

☆ Tropical Storm Calvin: Hawaii governor declares state of emergency as Tropical Storm Calvin threatens to deliver strong winds and torrential rain to the Big Island
▼ + stars: | 2023-07-19 | by ( Robert Shackelford Aya Elamroussi | Robert Shackelford | Aya Elamroussi | ) edition.cnn.com time to read: +2 min

CNN —Tropical Storm Calvin strengthened Tuesday as it continued to approach Hawaii’s Big Island, where more than a million people are under a state of emergency and a tropical storm warning is in effect. Calvin is forecast to pass south of Hawaii County tonight, bringing a period of flash flooding, dangerous surf and damaging winds. Calvin is expected to weaken as it moves westward to the south of the other Hawaiian Islands Wednesday and Wednesday night. Calvin is expected to remain a tropical storm for a day and a half before weakening later this week. “Calvin is forecast to pass south of Hawaii County tonight, bringing a period of flash flooding, dangerous surf and damaging winds.

Persons: Calvin, StSnEHgzif, “ Calvin, Josh Green, “ Organizations: CNN, National Hurricane Center, Calvin, National Weather Service, Hawaii Gov Locations: Hilo, Hawaii County, Honolulu, Hawaii, Maui

☆ Tropical Storm Calvin threatens to bring heavy rainfall and dangerous coastal surf to the Hawaiian islands
▼ + stars: | 2023-07-18 | by ( Taylor Ward | ) edition.cnn.com time to read: +1 min

CNN —Hawaii’s Big Island is under a tropical storm warning as Tropical Storm Calvin is forecast to pass over or just south of the island, threatening to bring dangerous coastal surf, heavy rain and gusty winds to the area, according to the National Hurricane Center. Calvin is expected to remain a weak tropical storm as it swiftly presses westward and passes by the state. The heavy rainfall poses the most significant threat, prompting flood watches for the islands of Maui, Molokai, Lanai, Kahoolawe and the Big Island from Tuesday evening through Wednesday afternoon. Heavy rain and isolated thunderstorms will reach the Big Island by Tuesday evening, and continue through the night. Flash flooding is the primary threat, especially for Big Island.

Persons: CNN —, Storm Calvin, Calvin Organizations: CNN, National Hurricane Center, National Weather Service, Big Locations: Hilo, Maui, Molokai, Lanai, Honolulu

☆ Tropical Storm Bret could become hurricane over next few days - US NHC
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 19 (Reuters) - Tropical Storm Bret over the central Atlantic could become a hurricane in the next couple of days, the U.S. National Hurricane Center (NHC) said in its latest advisory on Monday. "The system should be approaching the Lesser Antilles by late this week," the hurricane center said in its advisory. The storm, about 1,210 miles (1,945 km) east of the southern Windward Islands, is packing maximum sustained winds of 40 miles per hour (65 km per hour), the Miami-based forecaster said. Reporting by Ashitha Shivaprasad and Seher Dareen in Bengaluru; Editing by Sandra Maler and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Storm Bret, Ashitha Shivaprasad, Sandra Maler Organizations: U.S, National Hurricane Center, Thomson Locations: Windward, Miami, Bengaluru

☆ New tropical depression expected to become first 2023 hurricane -US center
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

June 19 (Reuters) - The third topical depression of the 2023 hurricane season has formed in the central tropical Atlantic and is expected to become a hurricane in a few days, the U.S. National Hurricane Center said on Monday. The depression, about 1,425 miles (2,295 km) east of the southern Windward Islands, is packing maximum sustained winds of 35 miles per hour (55 km per hour), the Miami-based forecaster said. "The depression is forecast to strengthen and move across the Lesser Antilles as a hurricane on Thursday and Friday, bringing a risk of flooding from heavy rainfall, hurricane-force winds, and dangerous storm surge and waves," the hurricane center said. If the depression becomes a hurricane, it would be the first one of the 2023 season, which lasts from June through November. A slightly below-average 2023 Atlantic hurricane season lies ahead with an El Nino weather phenomenon damping the storm outlook, researchers at Colorado State University predicted in April.

Persons: Jonathan Oatis Organizations: U.S, National Hurricane Center, Atlantic, El, Colorado State University, Thomson Locations: Windward, Miami, Lesser, Puerto Rico, Virgin, El Nino, Bengaluru

☆ Factbox: Global firms with exposure to collapsed SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +7 min

March 13 (Reuters) - Startup-focused lender SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis last week, sending shockwaves across global markets as billions of dollars belonging to companies and investors were left stranded. The collapse raised concerns that the end of decades-long era of cheap money would reveal cracks in the global financial system as climbing interest rates expose vulnerabilities in the economy. HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of SVB for 1 pound, rescuing a key lender for technology start-ups in Britain. Below is a list of companies across the globe that have revealed their exposure to SVB:EUROPEAround 16 tech and life sciences companies in Europe have disclosed about $190 million in exposure to SVB in the UK and the United States. Moonpig adds that SVB UK is one of ten lenders that provide senior debt facilities to the group as part of a strong banking syndicateASIA-PACIFICNITRO SOFTWARE (NTO.AX)Australia's productivity software maker Nitro Software Ltd (NTO.AX) said it had about $12.18 million of its global cash reserves held on deposit at SVB.

☆ Factbox: Which companies are affected by SVB collapse?
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +6 min

ROKU (ROKU.O)Streaming devices maker says it has about $487 million, or 26% of its cash and cash equivalents, held in deposits with SVB. CIRCLEUS cryptocurrency firm Circle says $3.3 billion of its $40 billion of USD Coin reserves are at SVB. BLOCKFIBankrupt crypto lender BlockFi Inc has roughly $227 million in unprotected funds at SVB, the Wall Street Journal reported on Friday. VIR BIOTECHNOLOGY (VIR.O)Biotech firm says it maintains operating accounts at SVB with about $220 million as of Friday. EUROPEAround 16 tech and life sciences companies in Europe have disclosed about $190 million in exposure to SVB in the UK and the United States.

☆ Macy's is closing another batch of stores in 2023 — here's the full list
▼ + stars: | 2023-01-05 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +2 min

Macy's will close four additional stores across the country in the first quarter of 2023. Macy's has been experimenting with opening smaller concept stores outside of suburban malls. A Macy's spokesperson told Insider that employees at the affected stores would be offered roles at nearby stores or severance packages. Macy's closed stores in 2020, 2021, and 2022, including seven locations in January of last year. The department store chain has been experimenting with opening smaller, trendier concept stores known as Market by Macy's, which are located outside of suburban shopping malls.

☆ Explainer: Europe set to import banned Russian diesel without knowing
▼ + stars: | 2022-12-07 | by ( Rowena Edwards | ) www.reuters.com time to read: +6 min

The European Union banned Russian crude imports from Dec. 5 and will ban Russian oil products from Feb. 5, as it attempts to deprive Russia of oil revenues. Blending Russian diesel elsewhere with a non-Russian equivalent would not change its origin, while refining Russian Urals crude into diesel elsewhere would. Russian diesel is likely to be delivered to and re-exported from countries such as India and Turkey, market sources said. Europe has already started to replace Russian diesel imports with refined product from the Middle East, but analysts also expect India to refine more Urals and increase diesel exports to Europe. Many of the larger oil companies, including BP (BP.L) and Shell have self-imposed sanctions on Russian oil and oil products.

The National Hurricane Center said Puerto Rico could get 12 to 18 inches of rain, with 30 inches possible in some areas. Nelson Cirino secures the windows of his home Sunday as the winds of Hurricane Fiona blow in Loiza, Puerto Rico. He said the first responders were prepared to be in Puerto Rico for as long as two weeks. Biden was briefed on the situation in Puerto Rico during his trip abroad, a senior administration official said. Nelson Cirino looks in his bedroom Sunday after Hurricane Fiona tore the roof off his house in Loiza, Puerto Rico.

☆ ‘The Sixth Extinction,’ by Elizabeth Kolbert
▼ + stars: | 2014-02-16 | by ( Al Gore | ) www.nytimes.com time to read: +2 min

There are psychological barriers to even imagining that what we love so much could be lost — could be destroyed forever. If trends continue, the global temperature will keep rising, triggering “world-altering events,” Kolbert writes. “By disrupting these systems,” Kolbert writes, “we’re putting our own survival in danger.”The earth’s water cycle is being dangerously disturbed, as warmer oceans evaporate more water vapor into the air. The extra heat is also absorbed in the top layer of the seas, which makes ocean-based storms more destructive. They struggle to absorb excess heat and carbon pollution — which is why, as Kolbert points out, coral reefs might be the first entire ecosystem to go extinct in the modern era.

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