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“One of the worst things you can hear from your child is them screaming ‘I don’t want to die! Residents across the state are just beginning to understand the full extent of the damage, especially in marginalized communities, as they recover from the deluge. But instead of work, Naranjo and other farmworkers are faced with some 20,000 flooded farmland in Salinas, according to early estimates from the Monterey County Farm Bureau, a nonprofit association of farmers and ranchers. When asked if he would return to work soon, Naranjo answered: “I don’t know.”Cars driving through a flooded roadway in Planada, Calif., on Jan. 10. “In my head, I thought if it was that bad, someone would come tell us, but no one ever did.

☆ As California Storms Approach End, Flood Fears Remain
▼ + stars: | 2023-01-16 | by ( Adolfo Flores | ) www.wsj.com time to read: 1 min

Central California remained under a flood watch Monday as the last in a series of major storms that have battered the state since Christmas moved through, according to forecasters. Monday’s storm could bring heavy rain, strong winds and possible flooding in some areas before moving into the U.S. Southwest, said the National Weather Service.

☆ California assesses damage after days of deadly storms
▼ + stars: | 2023-01-16 | by ( Rich Mckay | ) www.reuters.com time to read: +2 min

Jan 16 (Reuters) - Authorities in California were set to assess damage on Monday after a wave of storms killed at least 19 people, swept away scores of homes and forced thousands to evacuate. Small rainstorms lingered early on Monday from San Francisco through central California and a few inches of snow fell on the foothills of the Sierras, the National Weather Service reported. "It's coming to an end as we speak," said meteorologist William Churchill on Monday morning at the National Weather Service (NWS) Weather Prediction Center in College Park, Maryland. The Russian River, swollen with floodwater following a chain of winter storms, flows past the town of Guerneville, California, U.S. January 15, 2023. Then most of the state will have sunny days and at least a 10-day spell of dry, cool weather.

☆ Biden: Americans should ‘pay attention’ to MLK’s legacy
▼ + stars: | 2023-01-15 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

But with the election behind him and a full six-year term ahead, Warnock fully embraced Biden at the service. “That, my friends, is God’s work,” said Warnock, adding that Biden “had a little something to do with it.”As Biden begins to turn his attention toward an expected 2024 reelection effort, Georgia is going to get plenty of his attention. “But at this inflection point, we know a lot of work that has to continue on economic justice civil rights, voting rights, protecting our democracy. … Are we a people who will choose democracy over autocracy? "I’ve spoken before parliaments, kings, queens, leaders of the world ... but this is intimidating,” Biden said in opening his sermon.

☆ Forget inflation, it’s all about earnings
▼ + stars: | 2023-01-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

They noted that over the last three quarters, S&P 500 reactions to earnings beats and misses have soared higher and have now surpassed the one-day market reaction to both CPI inflation and Fed policy meeting decisions. Shares of Disney sank 13.16% last November — their lowest level in more than two years — when they missed earnings estimates. “We see this as a narrative shift in the market from the Fed and inflation to earnings: reactions to earnings have been increasing, while reactions to inflation data and FOMC meetings have been getting smaller,” wrote Subramanian and Kwon. So we can expect some serious volatility over the next few weeks as companies report their fourth quarter corporate earnings. Bad news ahead: The estimated earnings decline for the S&P 500 in the fourth quarter of 2022 is -3.9%, according to a FactSet analysis.

☆ Bank of America CEO expects 'mild recession' and is preparing for worse
▼ + stars: | 2023-01-13 | by ( Jesse Pound | ) www.nbcnews.com time to read: +1 min

Bank of America CEO Brian Moynihan said Friday that the bank is preparing for a potential recession in 2023, including a scenario where unemployment rises rapidly. “Our baseline scenario contemplates a mild recession. That pessimistic case, which is more negative than it was last quarter, calls for unemployment to rise to 5.5% early this year and remain at 5% or above through the end of 2024, Moynihan said. While the bank said net credit charge offs are still below pre-pandemic levels, outstanding balances on credit cards are up 14% year over year, and Moynihan said delinquencies are rising from their unusually low pandemic levels. Shares of Bank of America were up less than 1% on Friday.

☆ Brian Moynihan says Bank of America expects 'mild recession' and is preparing for worse
▼ + stars: | 2023-01-13 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Brian Moynihan, chief executive officer of Bank of America Corp., during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., on Thursday, Sept. 22, 2022. Bank of America CEO Brian Moynihan said Friday that the bank is preparing for a potential recession in 2023, including a scenario where unemployment rises rapidly. "Our baseline scenario contemplates a mild recession. The CEO's statement mirrors the earnings report for JPMorgan Chase, whose economic outlook calls for "a mild recession in the central case." Shares of Bank of America were down less than 1% on Friday.

☆ Stocks making the biggest moves in the premarket: JPMorgan, Virgin Galactic, Tesla and more
▼ + stars: | 2023-01-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in the premarket:JPMorgan — The bank reported fourth-quarter earnings and revenue before the bell that topped Wall Street expectations. JPMorgan slid nearly 3% in permarket trading. Wells Fargo — The bank slid nearly 4% after reporting shrinking profits, weighted down by a recent settlement and the need to build-up reserves. Salesforce — The software company slid 1.4% in the premarket after being downgraded by Atlantic Equities to neutral from overweight. Deutsche Bank downgraded the shares Friday.

☆ JPMorgan reports a Q4 earnings beat – but CEO Jamie Dimon warns of economic uncertainty ahead
▼ + stars: | 2023-01-13 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

JPMorgan published fourth-quarter earnings that beat Wall Street's forecasts Friday. But CEO Jamie Dimon warned that the war in Ukraine and the Federal Reserve's rate-hiking campaign are likely to cause significant economic uncertainty this year. JPMorgan shares fell 2.9% in premarket trading after the earnings were released. Higher interest rates helped JPMorgan to beat Wall Street's earnings expectations. Shares fell 2.9% in premarket trading after the earnings release, which covered the three months up until December 31.

☆ Mud, mold, and destruction: California businesses face catastrophic damage
▼ + stars: | 2023-01-13 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +9 min

New York CNN —At the end of a long wooden Southern California pier that juts out above the Pacific ocean sits the Wharf House. Powerful winter storms have unleashed heavy rain, wind, flooding and dangerous mudslides the likes of which California hasn’t seen in decades. An aerial view shows damage to the pier on which the Wharf House restaurant is located. Businesses digging outAbout 5 million people were under flood watches Wednesday as yet another atmospheric river brings more rain to California. “There was water damage, but luckily our floors are concrete and easy to clean and sanitize.

☆ Jim Cramer's top 10 things to watch in the market Friday: Banks swoon, Tesla cuts prices
▼ + stars: | 2023-01-13 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Bank of America (BAC) fourth-quarter earnings of 85 cents per share beat estimates; revenue of $24.66 billion did, too. Citigroup (C) says fourth-quarter net income fell by more than 20% — investment banking drag masks higher rate benefit. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Wall Street banks stockpile funds for possible recession, show resilience
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Jeenah Moon/File Photo/File PhotoNEW YORK, Jan 13 (Reuters) - Wall Street's biggest banks stockpiled more rainy-day funds to prepare for a possible recession ahead and reported weak investment banking results, but said consumers remained healthy and higher rates boosted profits. Strength in trading helped offset a slump in investment banking, while interest rate hikes by the U.S. Federal Reserve helped income. However, Citigroup Inc (C.N) reported a 21% fall in profits with investment banking taking a hit. Global investment banking revenue sank to $15.3 billion in the fourth quarter, down more than 50% from a year-earlier quarter, according to data from Dealogic. Bank of America's investment banking fees more than halved in the quarter.

☆ California is deluged by record rain with more storms coming
▼ + stars: | 2023-01-11 | by ( Kate Fishman | ) www.reuters.com time to read: +4 min

The parade of storms is forecast to continue, bringing even more heavy rain next week, the weather service said. Large stretches of central California received over half their normal annual rainfall since Dec. 26. [1/12] View of flooding from the rainstorm-swollen Sacramento and American Rivers, near downtown Sacramento, California, U.S. January 11, 2023. The storms have killed at least 17 people since the start of the year, California Governor Gavin Newsom said on Tuesday. Reporting by Brendan O'Brien in Chicago and Daniel Trotta in Carlsbad, California; Editing by Marguerita Choy and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ California Braces for More Widespread Flooding, Damaging Winds
▼ + stars: | 2023-01-09 | by ( Erin Mulvaney | ) www.wsj.com time to read: 1 min

Forecasters expect California to experience more powerful storms with heavy rain, damaging winds and a significant risk of flash flooding, adding to weeks of rainfall and storm surges in the state. The National Weather Service forecast storms in northern and central California caused by what it called a relentless parade of cyclones moving across the Pacific Ocean. The storms are expected to bring rain and wind late Sunday and into Monday morning. Flooding concerns will continue into Tuesday. The National Weather Service has also forecast the potential for mudslides.

☆ California storm leaves over 120,000 still without power
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - More than 120,000 homes and businesses were still without power in California early on Monday, according to data from PowerOutage.us, after a massive storm last week that disrupted road travel with flash floods, rock slides and toppled trees. At least 12 fatalities have been reported from weather-related incidents in California in the past 10 days, Governor Gavin Newsom told a news conference. According to PowerOutage.us, the utility with the most outages was Pacific Gas and Electric Co (PG&E) with over 73,000 customers without power, followed by Sacramento Municipal Utility District at 50,000. PG&E is a unit of California energy company PG&E Corp (PCG.N). Reporting by Rahul Paswan and Brijesh Patel in Bengaluru; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Hundreds of thousands left without power in California as forecasters warn of 'relentless' cyclones
▼ + stars: | 2023-01-08 | by ( Leila Sackur | ) www.nbcnews.com time to read: +3 min

Hundreds of thousands of homes in California were left without power early Sunday after torrential downpours and high winds battered the northern part of the state as forecasters warned of a “relentless parade of cyclones,” over the coming days. Drivers barrel into standing water on Interstate 101 in San Francisco on Jan. 4. Gavin Newsom declared a state of emergency Wednesday as California was engulfed by rain and snow, which produced flooding across the state. The San Francisco Fire Department tweeted images of downed trees and flooded buildings on Saturday but said there was no threat to life. On Friday, San Francisco Public Works announced it could supply 10 sandbags per household and business in preparation for the weekend’s wet weather.

☆ California braces for 'parade of cyclones' after storms kill 7
▼ + stars: | 2023-01-08 | by ( Fred Greaves | ) www.reuters.com time to read: +3 min

[1/9] A drone view of a tree that fell during a winter storm with high winds in Sacramento, California, U.S. January 8, 2023. Forecasters warned on Sunday that northern and central California was still in the path of a "relentless parade of cyclones," promising little relief for the region until the middle of the week. The latest storms vividly illustrated the consequences of warmer sea and air temperatures caused by climate change. At least seven people have died from weather-related incidents in California since the New Year's weekend, including a toddler who was killed by a redwood tree that fell and crushed a mobile home in northern California. Another severe storm was supposed to hit on Monday.

[1/4] Traffic navigates around downed tree limbs along 19th Avenue after a new bout of rainstorms threatens to flood San Francisco, in California, U.S. January 4, 2023. Governor Gavin Newsom declared a state of emergency on Wednesday, and state officials urged Californians to avoid travel during the storm. Crews in San Francisco spent the night cleaning up debris from felled trees that blocked roadways. The area lies in the heart of the Sonoma Wine Country, a tourist magnet just north of San Francisco. Nearly 100 flights were canceled at San Francisco International Airport on Wednesday, and an additional 15 had already been canceled on Thursday.

[1/5] High water levels caused by stormwater flood Discovery Park, located in the convergence of the Sacramento River and the American River, in Sacramento, California, U.S. January 4, 2023. The latest "atmospheric river" - an airborne current of dense moisture flowing from the ocean - was expected to drench much of California ahead of a Pacific storm front bringing additional showers to low-lying areas and more snow to the Sierra Nevada Mountains through Thursday. Authorities warned that heavy downpours would likely unleash flash flooding and mudslides, especially in areas where the ground remains saturated from rains that soaked northern California days earlier. Governor Gavin Newsom declared a state of emergency on Wednesday to support the state's winter weather hazards response, and activated California's flood operations center. A separate storm system hovering on Wednesday over parts of the Midwest was forecast to drift off the East Coast by Friday.

Millions of people in the South and the Southeast are at risk of severe thunderstorms, tornadoes and flash floods Tuesday and Wednesday, while a messy winter storm is expected to hit the Midwest and a separate storm slams California later this week. Threats of severe thunderstorms, flash floodsAs many as 20 million people from southeast Louisiana to south-central Alabama are at risk for severe thunderstorms Tuesday that could bring damaging wind gusts, large hail and some strong tornadoes, classified as having winds of more than 111 mph. The thunderstorms are expected to continue through the day and last into the overnight hours. In addition to the severe thunderstorms, flash flooding will also be a threat. St. Louis could see a high in the early 70s Tuesday before expected highs plunge to the high-30s and the mid-40s the rest of the week.

☆ New York prepares for possible flooding from snowmelt while the West girds for heavy rain and snow
▼ + stars: | 2022-12-29 | by ( Julianne Mcshane | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kathryn-Prociv.Jpg | ) www.nbcnews.com time to read: +7 min

Kathy Hochul on Wednesday directed state agencies to prepare to respond to flooding caused by the snowmelt. And the Buffalo Airport — where nearly 52 inches of snow fell during the storm, according to the weather service — reopened Wednesday. Moderate to heavy snow could also fall across northern Nevada by Friday night, the agency said. On New Year’s Eve, heavy rain will fall in the Southeast up to the Ohio Valley during the day and the mid-Atlantic into the Northeast during the evening, while the West will face a flood risk and continued heavy mountain snow. On New Year's Day, lingering rain showers are expected in New England, above-average temperatures are set for the South and rain and snow are expected in the Southwest.

☆ Egypt Is Spending Billions on a New Capital That Egyptians May Not Visit
▼ + stars: | 2022-12-24 | by ( Chao Deng | Amira El-Fekki | ) www.wsj.com time to read: 1 min

CAIRO—In a desert plain 40 miles east of central Cairo, a sprawling new capital city is taking shape, with skyscrapers, luxury residences and pedestrian malls representing President Abdel Fattah Al Sisi ‘s vision of a modern Egypt, fueled by billions of dollars in debt to help see it through. Now comes the hard part: getting people to live and work there.

☆ A 24-year-old made over $300,000 in revenue selling on Amazon in 2022. He explains how he got started by arbitraging products from stores like Walmart and Target to sell online, and shares his top 4 t
▼ + stars: | 2022-12-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Kade Peterson, 24, wanted to be an Amazon seller after witnessing his older brother become successful at it. Together with his brother, he went to an overstocked goods store with the Amazon Seller app in hand. Tips from lessons learnedAfter noticing that some products sold immediately and others never sold, he realized that he could use an Amazon metric known as an Amazon Best Sellers Rank (BSR). But there are some brands that don't allow anyone to sell their products, no matter how long you've been an Amazon seller, he noted. If a customer complains about a faulty product, Amazon will shut you down, he said.

☆ Donald Trump rails against Jan. 6 committee in rambling Truth Social video after it blames him for Capitol riot
▼ + stars: | 2022-12-24 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

The Jan. 6 committee said Trump was ultimately to blame for the 2021 Capitol riot. Trump talked about the committee in a video he shared on his Truth Social platform on Friday, saying: "These are sick people. Rioters and police at the Capitol riot. DOJIn the rambling video, Trump also called the FBI raid on his Florida Mar-a-Lago resort in August a "Marxist hoax" and "a big hoax" and said it was run by a "Trump hater." Trump also went after the committee's report in a separate Truth Social post on Thursday, calling it a "highly partisan Unselect Committee Report."

Ali Alexander said he believed White House wanted him to lead rallygoers to Capitol "Stop The Steal" organizer Ali Alexander believed the White House wanted him to lead attendees of Trump's Jan. 6 rally to the Capitol, the report said. Alex Jones, who has claimed the White House told him to lead the march, texted Wren at 12:27 p.m. Finally one of the staffers told Trump they thought he should focus on his speech. Trump told Jan. 6 demonstrators at the Capitol in a Twitter video that he loved them but that they should go home. The information was expected to be available as soon as Thursday — the day the House Jan. 6 committee is set to issue its final report on the riot.

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