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Israel is blockading Gaza and refuses to allow in fuel, saying it could be used by the Hamas militant group for their military goals. The U.S. was "working on a mechanism that can get fuel to where it's needed" in Gaza, he said. Medical authorities in Hamas-run Gaza said on Tuesday that 8,525 people including 3,542 minors had been killed. Distribution is particularly hard in northern Gaza, the main focus of Israel's military operation, aid officials say, and some have halted all deliveries. World Health Organization (WHO) spokesperson Christian Lindmeier said on Tuesday it had sent no further aid to northern Gaza hospitals since Oct. 24, citing a lack of security guarantees.

Persons: Antonio Guterres, Gazans, Juliette Touma, Jonathan Crickx, Antony Blinken, Washington, Blinken, Christian Lindmeier, Rick Brennan, David Satterfield, UNRWA's Touma, Gabrielle Tetrault, Farber, Michelle Nichols, Humeyra Pamuk, Simon Lewis, Nidal, William Maclean, Gareth Jones Organizations: UNRWA, International Federation of Red, Red Crescent Societies, UNICEF Palestine, UNICEF, Palestinian, Palestine Red Crescent Society, Handout, REUTERS, White House, Health Organization, WHO, Reuters, Thomson Locations: Gaza, U.N, Palestinian, Rafah, Egypt, Israel, Ukraine, The U.S, Palestine, Deir al, Cairo , U.S

☆ Inflation is cooling, but the price hikes aren’t done
▼ + stars: | 2023-10-25 | by ( Lucy Bayly | Alicia Wallace | ) edition.cnn.com time to read: +8 min

Inflation in the United States has unquestionably cooled after hitting 40-year highs last year. Other key inflation gauges, the more comprehensive Personal Consumption Expenditures price index and the wholesale-focused Producer Price Index, have moderated as well. A spike in gas prices and other components such as persistently high shelter costs have kept inflation elevated. The locally owned Walnut Group restaurant company closed its venerable Mediterranean Restaurant (fondly called The Med), the French bistro Brasserie Ten Ten and the newer Italian entrant Via Perla. Courtesy Tim Romano PhotographyAlthough Brasserie Ten Ten had a nearly two-decade run before its closure, it was like starting a brand new restaurant, Hessel said.

Persons: Marlon Pando, White Lotus, Tony Hessel, he’s, Jerome Powell, Brandon Bell, —, ”, Lydia Boussour, United States —, Pando, “, Price, Frederic J . Brown, Mark Zandi, Chase Castor, hadn’t, Holly Wade, Peggy Romano, Romano, Brasserie, Tim Romano, Hessel, ” Hessel, you’ve, it’s Organizations: Minneapolis CNN —, Disney, Mexican Grill, White, Getty, Moody’s, National Federation of Independent, Washington Post, NFIB Research, shocker, Walnut Group, Via Perla Locations: Minneapolis, New Jersey, Boulder , Colorado, United States, Mexican, Austin , Texas, Alhambra , California, AFP, Marion , Kansas, —, Walnut

After 525 basis points of interest rate hikes, financial conditions are now the tightest in a year, and biting. JPMorgan strategists estimate that the impact on GDP from tightening financial conditions takes anywhere from one to two years to be felt. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsThe renewed weakness of U.S. regional bank shares is one of them. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsBNP Paribas analysts reckon the impact on GDP growth from tighter financial conditions recently equates to a 40 basis point rate hike. Around a third of the bank's financial conditions index rise since April is from higher bond yields.

Persons: Brendan McDermid, Goldman Sachs, Torsten Slok, Morgan Stanley, Jerome Powell, Jamie McGeever, Andrea Ricci Organizations: New York Stock Exchange, REUTERS, Rights, Fed, Treasury, Wall, JPMorgan, National Federation of Independent, Reuters, Thomson Locations: New York City, U.S, Rights ORLANDO , Florida, October's

☆ The climate crisis has a price — and it's $391 million a day
▼ + stars: | 2023-10-24 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Al Zulkifli | AFP | Getty ImagesDamage from the global climate crisis has amounted to $391 million per day over the past two decades, a report showed. "We find that US$143 billion per year of the costs of extreme events is attributable to climatic change. The research, however, notes that there is an underestimation of the true costs of climate change due to the difficulty of measuring indirect losses. They called for an increase in adaptation policies to minimize these climate-change attributed costs, such as the building of flood protection or improving early warning signal systems heralding extreme weather events. "The planet is far off track from meeting its climate goals," the WMO said in a September report, adding that rising global temperatures have been accompanied by more extreme weather.

Persons: Al Zulkifli, —, Nargis, Fedja Grulovic, Spyros Bakalis, Yuki Iwamura Organizations: AFP, Getty, Nature Communications, International Federation of Red, Red Crescent Societies, Reuters, U.S . Federal Emergency Management Agency, World Meteorological Organization, WMO, Afp Locations: Ogan Ilir, South Sumatra, Indonesia, Myanmar, Europe, Russia, Somalia, Prevalje, Slovenia, Pournari, Magoula, Athens, Maui, Lahaina , Hawaii

☆ A temporary pay bump for federal firefighters is slated to end in November, raising fears that up to 50% of the workforce could quit as the country faces more extreme wildfires
▼ + stars: | 2023-10-14 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Federal wildland firefighters could see sizable pay cuts if Congress doesn't step in soon. Per the US Department of Agriculture, the entry-level salary for a federal wildland firefighter is roughly $34,000, absent the temporary pay increase. But the legislative fix was only temporary, and Biden pushed for the permanent pay when he submitted his administration's 2024 budget earlier this year. AdvertisementAdvertisementDemocratic Rep. Joe Neguse of Colorado has been one of the most prominent supports of the increased firefighter pay on Capitol Hill. AdvertisementAdvertisementNeguse has introduced legislation that would permanently boost federal firefighter pay, but it has so far not advanced in the House.

Persons: Joe Biden, Biden, Joe Neguse, Kevin McCarthy of, I'm Organizations: Service, The Times, US Department of Agriculture, Capitol, National Federation of Federal Employees, Times Locations: Colorado, Kevin McCarthy of California, Interior West

☆ LIV Golf loses its bid to earn ranking points over questions about a closed shop
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: +5 min

LIV Golf is playing only for cash, not world ranking points, after the Official World Golf Ranking board determined it could not fairly measure the 48-man league with the other 24 tours around the world. LIV Golf made its debut in June 2022, and the lack of world ranking points has taken an enormous toll. Among those no longer in the top 100 are Dustin Johnson, Bryson DeChambeau and Talor Gooch, who has three LIV Golf victories this year. LIV Golf can reapply to be part of the OWGR system, though the board made it clear that turnover, objective access to LIV Golf and relegating players who don't perform remain key points in getting ranking points. There's also the matter of the PGA Tour, European tour and Saudi backers of LIV Golf (Public Investment Fund) working out a commercial partnership announced in June.

Persons: LIV, LIV Golf, OWGR, Peter Dawson, They're, Jay Monahan, Keith Pelley, Keith Waters, Dawson, Phil Mickelson, Lee Westwood, Bubba Watson, Paul Casey, Ian Poulter, — Andy Ogletree —, Mito Pereira, Thomas Pieters, Cameron Smith, Smith, Brooks Koepka, Dustin Johnson, Bryson DeChambeau, Talor Gooch, Sergio Garcia, Sebastian Munoz, Koepka, Munoz, There's Organizations: Centurion, The Associated Press, International Federation of PGA, Augusta National, PGA of America, U.S . Golf Association, LIV, League, PGA Tour, British, Investment Fund Locations: St Albans, London, Saudi, U.S, Florida

On Monday, LA28 organisers formally asked that flag football for both the men's and women's competitions as well as four other sports be added to the event. It would mark the Olympic debut for flag football, a game that looks similar to tackle football, with passing and receiving, but requires little protective equipment, with play stopping when a defender pulls a cloth flag from the waist of an opponent. "But I will tell you that through this process a number of great young stars of the league have said how great it would be to represent their country and play flag." O'Reilly said one appeal of flag football is that it is low cost and that almost anyone can play it. "The Olympics in LA would be a tremendous boost to flag football around the world and in this country."

Persons: Denis, Stephanie Lecocq, Peter O'Reilly, Diana Flores, O'Reilly, LA28, Rory Carroll Organizations: REUTERS, NFL, U.S ., Reuters, International Olympic Committee, International Federation of American Football, World Games, Italy, U.S, IOC, Los Angeles Our, Thomson Locations: Saint, Paris, France, Los Angeles, Mumbai, Birmingham , Alabama, Mexico, LA

☆ American kids are facing an epidemic of loneliness. Overhauling youth sports could help fix that.
▼ + stars: | 2023-10-08 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementA Hooptown Youth League game. While Americans of all ages are vulnerable to loneliness, young people are particularly at risk. Data on grade-school-aged children is limited in the US, but research in other countries has found that young children aren't immune to these problems. One of the few studies to explore sports participation's connection to youth loneliness was conducted by European researchers in 2019. A Hooptown Youth League game.

Persons: —, Nancy Curtin's, we'd, Mike Nilson, Gonzaga University's, Nilson, Chris Elam, It's, Vivek Murthy, General's, John Ewing, they're, There's, Charlie Riedel, Matt Hoffmann, Hoffman, Jon Solomon, — Solomon, David J, Phillip Solomon, Solomon, Curtin Organizations: Service, Hooptown, League, YMCA, Amateur Athletic Union, AAU, Portland Press, Getty, Sports, Fitness Industry Association, National Federation of State High School, Team, Kansas City Royals, Oakland Athletics, Cal State Fullerton, Aspen Institute's Sports, Society Program, Aspen Institute, CDC, rec, Aspen, Spokane — Locations: Oregon, Spokane , Washington, Spokane, Kansas City, Mo

☆ The Fed is at odds with itself. That’s a feature, not a bug
▼ + stars: | 2023-10-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

So, Fed officials are divided, but it doesn’t really matter. Fed officials are still people, and as the saying goes, opinions are like bellybuttons in that everyone’s got one. Fed officials in that committee with voting power have the option to dissent, but it’s only happened twice this cycle. This year’s voters, which are Dallas Fed President Lorie Logan, Chicago Fed President Austan Goolsbee, Philadelphia Fed President Patrick Harker, and Minneapolis Fed President Neel Kashkari, will be rotated out next year. Up NextMonday: Fed officials Lorie Logan, Michael Barr and Phillip Jefferson deliver remarks.

Persons: Mary Daly, Michelle Bowman, ”, Biden, That’s, Michael Feroli, everyone’s, “ It’s, ” Feroli, Esther George, Ed Al, Hussainy, JPMorgan’s Feroli, It’s, Jerome Powell, John Williams, Lorie Logan, Austan Goolsbee, Patrick Harker, Neel Kashkari, Logan, Kashkari, Raphael Bostic, San Francisco Fed’s Daly, – CNN’s Elisabeth Buchwald, Michael Barr, Phillip Jefferson, Christopher Waller Organizations: CNN Business, Bell, CNN, Federal, San Francisco Fed, JPMorgan, Fed, Market Committee, Kansas City, Columbia Threadneedle Investments, Governors, New York Fed, Dallas Fed, Chicago Fed, Philadelphia Fed, Minneapolis Fed, San Francisco, Treasury, PepsiCo, The National Federation of Independent Business, US Labor Department, Federal Reserve, Delta, China’s National Bureau of Statistics, The University of Michigan Locations: San, Kansas, Columbia, Cleveland, Richmond, Atlanta, San Francisco, Walgreens

☆ A 32-year market vet warns a recession is still on the way as the Fed's jumbo rate hikes continue to work their way into the economy — and shares 3 reasons why stocks are overvalued by 35%
▼ + stars: | 2023-09-30 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

The hikes scared investors into thinking a recession would be on the way. But today, the labor market remains strong and inflation is under 4%, prompting rosier outlooks about the fate of the US economy. Rate hikes take time to work their way into the economy. But their main adversary going forward is going to be the Fed, with inflation still elevated. The Consumer Price Index is at 3.7% year-over-year, and core inflation, which the Fed watches closely, is even higher at 4.3%.

Persons: Michael Pento, Piper Sandler, Pento, Louis, LEI, Greg Boutle, Morgan Stanley's Mike Wilson, Piper Sandler's Michael Kantrowitz, Jeremy Grantham, Merrill Lynch, Gary Shilling, Jerome Powell Organizations: Federal Reserve, Federal Reserve Bank of St, National Federation of Independent Businesses, Conference, Stock, Robeco, Nasdaq, BNP, Fed

☆ UN refugee agency readying for up to 120,000 refugees in Armenia
▼ + stars: | 2023-09-29 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

Kavita Belani, UNHCR representative in Armenia, told a U.N. press briefing by video link that huge crowds of tired and frightened people were gathering at registration centres. "And when they come in, they're full of anxiety, they're scared, they're frightened and they want answers." It's very hard to predict how many will come at this juncture," she added in response to a question about refugee numbers. People gather near an aid center for refugees from Nagorno-Karabakh region in the border village of Kornidzor, Armenia, September 29, 2023. International Federation of Red Cross and Red Crescent Societies representative Hicham Diab said there was a massive need for mental health support for refugees.

Persons: Kavita Belani, they've, Irakli, Regina De Dominicis, Hicham Diab, Carlos Morazzani, Emma Farge, Miranda Murray, Peter Graff Organizations: UNHCR, REUTERS, UNICEF, International Federation of Red, Red Crescent Societies, International Committee, Thomson Locations: GENEVA, Armenia, Nagorno, Karabakh, Azerbaijan, Kornidzor

☆ Asian Games: South Korea's Esports stars target medal success -- and a military exemption
▼ + stars: | 2023-09-26 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +15 min

For South Korean male participants, winning a gold medal in the Asian Games or Olympic Games not only brings honor but also grants them a military exemption. However, the mandatory duty can be waived for some athletes, in particular those who win an Olympic medal or a gold medal in the Asian Games. Seven games will be featured as official medal events at the 19th Asian Games, building on the success of the pilot event at the 2018 Jakarta-Palembang Games. The venue for the Asian Games esports competitions is state-of-the-art and an impressive sight to see. With its inclusion as an official Asian Games medal event, the possibility of esports becoming a part of the Olympic Games is a topic of growing debate.

Persons: Suga, Oh, Wang Zhao, Son Heung, ” Shin, ”, esports, ” Kim Sa, “, ” Lee Kyung, Kwak, hyouk, it’d, ” Kwak, Thailand’s Teedech, Lee Sang, –, Michael Chow, Yoonjung Seo, Michael Jordan, ” Chow, Faker, JUNG YEON, Philip Fong, Rowan Crothers, “ I’m, I’ll, ” Crothers, Jess Bolden, Chow, Niko, Young Organizations: CNN, Gaming, Hangzhou Asian Games, Asian Games, Games, BTS, Asian, Getty, Premier League soccer, Tottenham Hotspur, Marine Corps, Republic of Korea Marine Corps, “ Times, CNN Sport, FIFA, Hangzhou, South Korea, Believer Company, Riot, South, Team Korea, League, “ League, SK Telecom, Riot Games, Microsoft Studios, Xbox, Studios, International Federation of, Phonographic Industry, EA Sports FC Online, PUBG, of Valor, of, Olympic, International Olympic Committee, Maekyung Media, Paralympic, IOC, Kodikara, International Federations, Niko Partners Locations: South Korea, Hangzhou, AFP, Seogwipo, Jeju, Republic of, Seoul, esports, Jakarta, South, . South Korea, Palembang, Asia

[1/5] People walk amidst the wreckage, in the aftermath of the floods in Derna, Libya September 15, 2023. "Bodies are littering the streets, washing back on shore and are buried under collapsed buildings and debris. Mohammad al-Qabisi, head of Derna's Wahda Hospital, said a field hospital was treating people with chronic illnesses needing regular attention. Thursday's U.N. report said more than 1,000 bodies in Derna and over 100 bodies in Al Bayda, another coastal city which was hit by flooding, had been buried in mass graves. The ICRC sent a cargo flight to Benghazi, eastern Libya's largest city, on Friday with 5,000 body bags.

Persons: Omran, DERNA, Bilal Sablouh, Ibrahim al, Mohammad al, Nouri Mohamed, Derna's, Kazunobu Kojima, Derna, Thursday's U.N, Al Bayda, I've, Ahmed Bayram, Saad Rajab Mohamed al, Martin Griffiths, Ahmed Elumami, Ayman al, Laila Bassam, Emma Farge, Gabrielle Tetrault, Farber, Nayera Abdallah, Mark Heinrich, William Maclean, Edmund Blair Organizations: REUTERS, WHO, World Health Organization, Reuters, Derna's, Organization for, International Committee, Cross, International Federation of, Red Crescent Societies, ICRC, Norwegian Refugee Council, Danish Refugee, Thomson Locations: Derna, Libya, U.N, GENEVA, Libyan, Africa, Geneva, Libya's Tripoli, Libya's, WHO's, Al, Benghazi, Susah, Beirut

☆ Aid agencies call for end to mass graves after Libya floods
▼ + stars: | 2023-09-15 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

[1/3] Displaced people receive food aid from private schools and parents from east of Libya, in the aftermath of the floods in Derna, Libya September 15, 2023. A torrent washed away whole districts of Derna, a city in eastern Libya, on Sunday night after two dams collapsed. A U.N. report published on Thursday said that over 1,000 bodies in Derna and over 100 bodies in Albayda had been buried in mass graves after the floods on Sept. 11. "Bodies are littering the streets, washing back on shore and are buried under collapsed buildings and debris. He warned that unexploded ordnances, common in some parts of Libya, posed a risk for those involved in recovering the dead.

Persons: Omran, Kazunobu Kojima, Cross, Bilal Sablouh, Emma Farge, Miranda Murray, Mark Potter Organizations: REUTERS, Rights, World Health Organization, WHO, International Committee, International Federation of, Red Crescent Societies, Regional, ICRC, Thomson Locations: Libya, Derna, WHO's, Albayda, Africa, Geneva, Benghazi

☆ The latest data signals the Fed will pause next week and keep future rate hikes on the table
▼ + stars: | 2023-09-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That data indicates that the Federal Reserve is still likely to hold rates steady next week, some investors say. Inflation: US inflation climbed 3.7% in August from the prior year, marking an acceleration for the second consecutive month, according to the latest Consumer Price Index. Excluding the boost from gas station sales, retail spending added 0.2% in August from July. Traders see a roughly 97% chance that the central bank keeps rates unchanged in September, according to the CME FedWatch Tool. The central bank has now raised its main interest rate at 10 consecutive meetings, taking it to the highest level since the launch of the euro currency in 1999.

Persons: “, ”, Sam Millette, Price, Taylor Swift, Bill Adams, Jerome Powell, Liz Young, CNN’s Olesya, Michelle Toh ., Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Commonwealth Financial Network, National Federation of Independent Business, Comerica Bank, Traders, European Central Bank, Central Bank, ECB, Cornell University, Schroders, Fashion, Cornell’s Global Labor Institute Locations: Saudi Arabia, Russia, Jackson Hole , Wyoming, Bangladesh, Pakistan, Vietnam, Cambodia, Schroders

☆ Libya floods: what caused them and why are they so bad?
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +4 min

Aerial view of Derna city, in the aftermath of the floods in Derna, Libya September 14, 2023. After pummelling other Mediterranean countries, the powerful Storm Daniel swept into Libya at the weekend, unleashing record amounts of rain as it made landfall. The rain dumped by the storm filled a normally dry riverbed, or wadi, in the hills south of Derna. The pressure was too much for two dams built to protect the city from floods. He cited five floods since 1942, and called for immediate steps to ensure regular maintenance of the dams.

Persons: Ayman Al, Storm Daniel, hydrologist, Omar Al, Mukhtar, Abdulmenam Ghaithi, Hichem Abu Chkiouat, OCHA, Ghaithi, Muammar Gaddafi, Derna, Tom Perry, Christina Fincher Organizations: REUTERS, World Meteorological Organization, Mukhtar University, Infrastructure, Humanitarian Affairs, Reuters, International Federation of, Red Crescent Societies, United Arab, Rescuers, Derna, Thomson Locations: Derna, Libya, Libyan, Egypt, Tunisia, United Arab Emirates, Turkey, Qatar, Tripoli

☆ ‘We knew ahead of time’: A decade of turmoil left Libya unprepared for natural disasters
▼ + stars: | 2023-09-13 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +10 min

Split between two rival administrations since 2014 and having failed to hold presidential elections, Libya faces an uphill battle when it comes to severe natural disasters. Planet Labs PBC/AP Planet Labs PBC/AP Satellite images show Derna, Libya on September 2, before the flooding, left, and after the dams collapsed, right. Responding to criticism regarding lack of preparedness by the LNA, Al-Mismari said that in such situations, 50% of the responsibility falls on authorities (LNA) and 50% falls on citizens. Turkey, which backs the Tripoli government, also said it is mobilizing personnel and supplies to assist authorities in eastern Libya. Tamer Ramadan, head of international Federation of Red Cross and Red Crescent Societies (IFRC) in Libya, told CNN Tuesday that the issue of rival governments in Libya does not affect their operation.

Persons: Storm Daniel, Khalifa Haftar –, ”, Anas El Gomati, Moammar Gadhafi, Abdulhamid Dbeibeh, Haftar, Jalel Harchaoui, ‘, ’, Harchaoui, Gomati, Osama Hamad, Osama Aly, ” Aly, “, Al Hurra, Jamal Alkomaty, ” Harchaoui, Ahmed al, Mismari, Al, ” Gomati, there’s, Ramadan, ” Ramadan Organizations: CNN, Planet Labs PBC, AP Planet Labs PBC, AP, ISIS, Libya –, Sadeq Institute, NATO, Libyan National Army, Royal United Services Institute, Emergency, Ambulance Service, Twitter, Analysts, United Nations, United, United Arab Emirates, Civil Protection Department, Federation of Red, Red Crescent Societies Locations: Libya, Split, Libyan, Derna, Greece, Morocco, “, Tripoli, Benghazi, “ Libya, London, Cyrenaica, tatters, Derna’s, Al, Italy, Egypt, Russia, United Arab, Algeria, Turkey

Relatives of those still missing told CNN they are terrified. Here’s what we know so far:Where did the flood hit? Morgues are stacked to capacity and dead bodies have been left on the sidewalks outside, Osama Aly, spokesperson for the Emergency and Ambulance Service in Libya, told CNN Tuesday. Analysts have said that climate forecasts gave warnings days before the storm hit Libya, but that authorities in the east did not act quickly enough. Tamer Ramadan, head of international Federation of Red Cross and Red Crescent Societies (IFRC) in Libya, told CNN Tuesday that the issue of rival governments in Libya doesn’t affect their operations.

Persons: “, Areej’s, Emad Milad, ” Milad, Osama Aly, Muammar Gaddafi, Abdulhamid Dbeibeh, Khalifa Haftar, Osama Hamad, Esam Omran, Reuters Derna, Ahmed Al, Mismari, ” Al, Al, Tamer Ramadan, ”, Jamal Alkomaty, Daniel, ” Karsten Haustein Organizations: CNN —, Authorities, United Nations ’ International Organization for Migration, CNN, Emergency, Ambulance Service, UN, of National Unity, GNU, Libyan National Army, Reuters, Arabiya, Federation of Red, Red Crescent Societies, Leipzig University, Science Media Center Locations: Derna, Libya, Tobruk, Benghazi, NATO, Tripoli, Egypt, UAE, Turkey, Italy, Algeria, Libya’s, Greece, Germany

General view of flood water covering the area as a powerful storm and heavy rainfall hit Al-Mukhaili, Libya September 11, 2023, in this handout picture. As the storm moved along the North African coast, Egypt's authorities sought to calm its worried citizens by telling them Daniel had finally lost its strength. For Greece, the storm that formed on Sept. 4 followed a period of blazing heat and wildfires. Before Storm Daniel struck, hydrologist Abdelwanees A. R. Ashoor of Libya's Omar Al-Mukhtar University had warned that repeated flooding of the wadi posed a threat to Derna. Yet even better-resourced Greece struggled to deal with the power of Storm Daniel.

Persons: Daniel, Storm Daniel, Suzanne Gray, Christos Zerefos, Leslie Mabon, hydrologist, Omar Al, Mukhtar University, Edmund Blair, Mark Heinrich Our Organizations: REUTERS Acquire, Ahram, Britain's University of Reading, International Federation of, Red Crescent Societies, Academy of Athens, The Open University, Homes, Thomson Locations: Mukhaili, Libya, Handout, Greece, Derna, ATHENS, LONDON, Thessaly, Britain

☆ Inflation woes persist for small businesses as they struggle to hire
▼ + stars: | 2023-09-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —America’s small businesses felt gloomier in August as they continued to struggle with inflation and hiring qualified workers, according to a survey from the National Federation of Independent Business released Tuesday. Optimism among more than 600 small businesses surveyed declined in August from the prior month, snapping a three-month streak of improving sentiment. The share of small business owners saying they had job openings that were hard to fill stood at 40% last month, down slightly from July but still historically high. “With small business owners’ views about future sales growth and business conditions discouraging, owners want to hire and make money now from strong consumer spending,” said Bill Dunkelberg, the NFIB’s chief economist, in the release. The US economy remains on strong footing, despite rapid rate hikes, with consumer spending jumping 0.8% in July and retail sales advancing 0.7% that month.

Persons: Washington CNN —, ”, Bill Dunkelberg, Goldman Sachs, Simona Mocuta Organizations: Washington CNN, National Federation of Independent Business, Federal Reserve, Labor Department, American Bankers, Economic, Committee, State Street Global Advisors

☆ Libya floods wipe out quarter of city, 10,000 feared missing
▼ + stars: | 2023-09-12 | by ( Ayman Werfali | ) www.reuters.com time to read: +4 min

NEAR DERNA, Libya, Sept 12 (Reuters) - At least 10,000 people were feared missing in Libya on Tuesday in floods caused by a huge storm, which burst dams, swept away buildings and wiped out as much as a quarter of the eastern city of Derna. "The number of bodies recovered in Derna is more 1,000," he said. "I am not exaggerating when I say that 25% of the city has disappeared. [1/5]People are stuck on a road as a powerful storm and heavy rainfall hit Shahhat city, Libya, September 11, 2023. Libya is politically divided between east and west and public services have crumbled since a 2011 NATO-backed uprising that prompted years of conflict.

Persons: Storm Daniel, Abu Chkiouat, Al Jazeera, Ramadan, Ali Al, Saadi, Tarek Amara, Ayman Werfali, Friedrieke Heine, Angus McDowall, Gabrielle Tétrault, Farber, Clauda, Tom Perry, Ingrid Melander, Alison Williams, Peter Graff Organizations: Reuters, International Federation of, Red Crescent Societies, Facebook, Libyan, Thomson Locations: DERNA, Libya, Derna, Geneva, Tunisia, Derna's, NATO, Tripoli, Misrata, United States

"We can confirm from our independent sources of information that the number of missing people is hitting 10,000 so far," he told reporters via video link. 'NEVER FELT AS FRIGHTENED'[1/6]People are stuck on a road as a powerful storm and heavy rainfall hit Shahhat city, Libya, September 11. At Tripoli airport in northwest Libya, a woman started to wail loudly as she received a call saying most of her family were dead or missing. "If a huge flood happens the result will be catastrophic for the people of the wadi and the city," the paper said. Pope Francis was among world leaders who said they were deeply saddened by the deaths and destruction in Libya.

Persons: Daniel, Storm Daniel, Abu Chkiouat, Derna, Al Jazeera, Tamer Ramadan, Martin Griffiths, Ali Al, Saadi, Mostafa Salem, Salem, wail, Walid Abdulati, Karim al, Al, Khalifah, hydrologist, Omar Al, Mukhtar, Pope Francis, Tarek Amara, Ayman Werfali, Ahmed Elumami, Al Bayda, Laila Bassam, Friedrieke Heine, Angus McDowall, Gabrielle Tétrault, Farber, Clauda Tanios, Jana Choukeir, Gavin Jones, Emma Farge, Tom Perry, Ingrid Melander, Alison Williams, Peter Graff, Mark Heinrich Our Organizations: UN, Storm, Reuters, International Federation of, Red Crescent Societies, United, REUTERS, Libyan, Mukhtar University, Norway's Refugee, Thomson Locations: Libya's, Libya, Derna, Benghazi, United Nations, Turkey, Tripoli, Al Jazeera, NATO, Misrata, Norway's, Tunisia, Al

Thousands of people have been killed in Libya in the flooding caused by heavy rains that devastated parts of the country this weekend, a disaster exacerbated by the collapse of two dams in the coastal city of Derna, aid agencies said on Tuesday. Tamer Ramadan, head of the Libya delegation for the International Federation of Red Cross and Red Crescent Societies, said the death toll from the flooding was expected to reach thousands in coming days. Speaking to reporters at a U.N. briefing via videoconference from Tunisia, he said 10,000 people were missing, and that those figures were based on reports from the Libyan Red Crescent on the ground. A Libyan ambulance and emergency services department said least 2,300 people had died and more than 5,000 were missing after heavy rainfall over the weekend in the northeast of Libya swelled waters over riverbanks, sweeping away homes and cutting off roads. The collapse of the dams, south of Derna, deepened the disaster after they unleashed water that swept through the city and carried “entire neighborhoods” into the sea, Ahmed al-Mismari, a spokesman for the Libyan National Army, the dominant political force in the area, said in a televised news conference on Monday.

Persons: Tamer Ramadan, Ahmed al Organizations: International Federation of Red, Red Crescent Societies, Crescent, Libyan National Army Locations: Libya, Derna, videoconference, Tunisia, Libyan

Many people spent a second night in the open after the 6.8 magnitude quake hit late on Friday. Morocco has declared three days of mourning and King Mohammed VI called for prayers for the dead to be held at mosques across the country on Sunday. PULLING SURVIVORS FROM RUBBLEThere were hopes more survivors could be found. Footage captured on Saturday in Moulay Brahim, showed rescuers pulling someone from the rubble. It was Morocco's deadliest earthquake since 1960 when a quake was estimated to have killed at least 12,000 people, according to the U.S. Geological Survey.

Persons: King, Adeeni Mustafa, King Mohammed VI, Caroline Holt, Abdellatif Ait, Saida Bodchich, Moulay Brahim, Ayat, Ahmed Eljechtimi, Jose Joseph, Adam Makary, Omar Abdel, Angus McDowall, Tom Perry, Frances Kerry, Elaine Hardcastle Organizations: ., Reuters, Ministry, World Health Organization, International Federation of Red, Red Crescent Societies, High, . Geological Survey, International Monetary Fund, World Bank, IMF, Thomson Locations: BRAHIM, Morocco, Marrakech, Moulay, Tansghart, Abdellatif Ait Bella, Turkey, Bengaluru, Razek, Cairo, London

☆ The problem with labor data in understanding inflation
▼ + stars: | 2023-09-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

The central bank will continue to pay close attention to the state of the labor market, specifically on wages, as it focuses on defeating inflation, but there’s only so much that labor data can reveal about price increases. Mainly, it’s that wage figures are great at gauging inflation’s progress, but they’re lousy at forecasting its future. Financial markets have shifted back to a “bad news is good news” way of perceiving economic data and will continue to react to labor data, but ultimately, it’s the actual inflation data that matter most to the Fed. The issue of labor figures in forecasting inflation lies with productivity data. The Federal Reserve releases August data on industrial production.

Persons: Austan Goolsbee, Raphael Bostic, ”, Quincy Krosby, ” Agron Nicaj, it’s, Anna Cooban, ” James Athey Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Fed, Chicago Fed, Bloomberg, Atlanta Fed, Financial, LPL Financial, CNN, Oracle, National Federation of Independent Business, National Statistics, US Labor Department, Adobe, European Central Bank, US Commerce Department, China’s National Bureau of Statistics, Lennar Homes, The University of Michigan Locations: Washington, Saudi Arabia

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