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☆ How did FEMA spend $9 billion so quickly? Back-to-back disasters
▼ + stars: | 2024-10-10 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

This rapid spend rate is a reflection of just how many earlier disasters the agency is dealing with in addition to Milton and Helene. Here’s what to know:How did FEMA spend $9 billion so quickly? That gave FEMA about $20 billion worth of funding to tap into as it responded to Helene and Milton. “In August, we had paused obligations for recovery projects for all of those other open disasters,” Criswell told reporters. Last year, the US had a record 23 disasters costing at least $1 billion by September – with 28 such disasters in the calendar year, the most ever recorded.

Persons: Helene, Milton –, Deanne Criswell, Milton, Criswell, Dominick Del Vecchio, “, ” Criswell, Hurricane Helene, Adam Smith, Hurricane Beryl, Greenlee Beal, NOAA’s Smith, isn’t, It’s, Smith, ” Smith, ” CNN’s Lauren Fox Organizations: Washington CNN, Federal Emergency Management Agency, FEMA, Disaster Relief Fund, Rescue, Task Force, Nevada Task Force, Reuters, Hurricane, NOAA, CNN, “ Locations: Milton, Nevada, Maui, Lahaina , Hawaii, Texas , California, New Mexico, Hurricane Milton, ”, California, Texas, New England, Dallas, Galveston , Texas, United States

☆ Opinion: Americans don’t have enough in the bank to weather unrelenting disasters
▼ + stars: | 2024-07-28 | by ( Opinion Daniel Kaniewski | ) edition.cnn.com time to read: +12 min

Even though floods have impacted 99% of US counties over the past 28 years, only 4% of homeowners have flood insurance. For those without flood insurance, FEMA provided $4,400 on average. Individuals and communities both have roles to play in building financial resilience to disasters. These Community Disaster Resilience Zones qualify for reduced local costs and additional technical assistance. Improving financial literacy is fundamental for making sound financial disaster preparedness decisions.

Persons: Daniel Kaniewski, Marsh McLennan, Beryl, Hurricane Harvey, Scott Olson, Daniel Kaniewski Marsh McLennan, Harvey, Hurricane Beryl, Greenlee Beal, Money, Nic Coury Organizations: Federal Emergency Management Agency, FEMA, CNN, Homes, US Chamber of Commerce, Allstate, Reuters, Stock, Wilder, National Flood Insurance Locations: Texas, Sugar Land , Texas, Alabama, Galveston , Texas, Florida, Virginia, Wilder Ranch, Santa Cruz , California, AFP, New York City

☆ It’s hurricane season. Good luck getting affordable homeowners’ insurance
▼ + stars: | 2024-06-01 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

For decades, homeowners insurance was considered a very stable line of business for insurance companies, said Chuck Nyce, a professor of risk management and insurance at Florida State University. The US homeowners insurance industry saw net losses jump to $101.29 billion in 2023, according to the report. Only two of the 20 largest US homeowners’ insurance companies were profitable last year. Kaylee Greenlee Beal/ReutersWhile property insurance is not mandated by law, most lenders require it for mortgage holders. Last year, Florida’s state-backed Citizens Property Insurance Corp. became the 10th largest homeowners’ insurer in the US, S&P Global said.

Persons: it’s, aren’t, Chuck Nyce, Nyce, Mario Tama, ”, Lynne McChristian, policyholders, Greenlee Beal, Aris Papadopoulos Organizations: CNN, P Global, Florida State University, Volunteers, P, University of Illinois, Property Insurance Corp, Florida Locations: States, Arizona , Illinois, Utah, Lahaina , Hawaii, Hawaii, Urbana, Champaign, Florida, California, Louisiana, North Carolina, Texas, Houston, Florida’s

☆ Soaring debt and deficits causing worry about threats to the economy and markets
▼ + stars: | 2024-05-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. Concern over such eye-popping numbers had been largely confined to partisan rancor on Capitol Hill as well as from watchdogs like the Committee for a Responsible Federal Budget. Uncharted territory for debt and deficitsIndeed, the CBO numbers are ominous, as they outline the likely path of debt and deficits. Surging budget deficits have been driving the debt, and the CBO only expects that to get worse. "The huge obvious problem is that the U.S. federal debt is now on a completely unsustainable long-term trajectory," analysts at Wolfe Research said in a recent note.

Persons: Greenlee Beal, Jerome Powell, Powell, Jamie Dimon, Ray Dalio, hasn't, Wolfe Organizations: U.S, Capitol, Wall, CBO, Union, JPMorgan Chase, Sky News, Bridgewater Associates, Financial Times, Treasury Department, Wolfe Research, U.S ., Federal Reserve Locations: Washington , U.S, Washington, Amsterdam, London, America, U.S

☆ Two-thirds of North America could face power shortages this winter -NERC
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

In its 2023-24 winter outlook, the regulatory authority warned that prolonged, wide-area cold snaps threaten the reliability of bulk power generation and availability of fuel supplies for natural gas-fired generation. "Recent extreme cold weather events have shown that energy delivery disruptions can have devastating consequences for electric and gas consumers in impacted areas," NERC said. It put the U.S. Midwest, Northeast, Mid-Atlantic, and South, along with some Canadian provinces, at the highest risk for electricity supply shortages this winter. NERC also found that load forecasting in winter is growing in complexity, and underestimating demand is a risk to reliability in extreme cold temperatures. Flows of gas into pipelines were reduced during Elliott, while demand for the fuel for heating and power generation increased, dramatically lowering line pressures.

Persons: Greenlee Beal, NERC, John Moura, Storm Elliott, Elliott, Anjana Anil, Scott DiSavino, Leslie Adler, Marguerita Choy Organizations: PIKE Energy, REUTERS, North American Electric Reliability Corp, U.S ., PJM, Reliability Corp, Texas, Federal Energy Regulatory, Storm, Consolidated Edison, Thomson Locations: Texas, San Antonio , Texas, U.S, Canada, U.S . Midwest, Northeast, South, New England, MISO , New York, New York City, Bengaluru, New York

☆ Perez to feel the love even if the dream is dashed
▼ + stars: | 2023-10-25 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

"I don't think Max is going to get the warmest reception in Mexico," commented team boss Christian Horner after Verstappen won to boos in Austin last Sunday. Perez, with 'Never Give Up' prominent on a specially-designed helmet for the occasion, remains positive despite a run of poor form. Perez, a winner twice this year, has been off the podium in his previous four outings and beaten by Verstappen in the last 14. Verstappen has won four of the last five Mexican Grands Prix while Perez has been third in the last two. Denmark's Frederik Vesti will take George Russell's Mercedes and Britain's Oliver Bearman replaces Kevin Magnussen at Haas for FP1.

Persons: Sergio Perez, Greenlee Beal, Bull, Max Verstappen, Mexico City's Autodromo Hermanos Rodriguez, Max, Christian Horner, Verstappen, Austin, Perez, Alain Prost, McLaren's Lando Norris, German Nick Heidfeld, Norris, Lewis Hamilton, Hamilton, Jack Doohan, Mick, Isack Hadjar, Theo Pourchaire, Denmark's Frederik Vesti, George Russell's Mercedes, Britain's Oliver Bearman, Kevin Magnussen, Haas, Alan Baldwin, Ed Osmond Organizations: United, Prix, Mexico City's Autodromo Hermanos, Verstappen, Grands Prix, Alpine, FP1, Thomson Locations: United States, Americas, Austin , Texas, U.S, Mexican, Mexico, German, Austin, London

☆ Sargeant ends a 30-year wait for US driver to score in F1
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Sargeant was classified 10th at Austin's Circuit of the Americas after Mercedes' Hamilton was stripped of second place and Ferrari's Leclerc lost his sixth place when their cars failed post-race checks. The last U.S. driver before the 22-year-old Florida native to score in a grand prix was Michael Andretti with McLaren in 1993. "It’s amazing to score my first point in F1 on home turf after the challenging weekend I’ve had," said Sargeant, who failed to finish the previous race in Qatar after suffering exhaustion in the heat. The team are seventh out of 10 in the constructors' standings, 10 points clear of eighth-placed Alfa Romeo with four races remaining. Australian Daniel Ricciardo, returning from injury at AlphaTauri, is now the only driver on the starting grid yet to score this season.

Persons: Williams, Logan Sargeant, Greenlee Beal, Lewis Hamilton, Charles Leclerc, Sargeant, Mercedes, Hamilton, Ferrari's Leclerc, Michael Andretti, I’ve, we’ve, Alex Albon, Romeo, Daniel Ricciardo, Alan Baldwin, Michael Perry Organizations: United, Prix, REUTERS, Williams, Formula, Austin's Circuit, McLaren, Thomson Locations: United States, Americas, Austin , Texas, U.S, , Texas, Florida, Qatar, AlphaTauri, London

Dispatchers at the 911 center in Mesa, Ariz., have three levers to pull: fire/medical, police or mental health. The last one is a relatively new addition, adopted by dozens of police departments around the country and aimed at avoiding violent and often deadly confrontations between police officers and the mentally ill.

Locations: Mesa, Ariz

☆ Natural catastrophe insured losses hit $50 bln in H1 - Swiss Re
▼ + stars: | 2023-08-09 | by ( Simon Jessop | ) www.reuters.com time to read: +2 min

Up from $48 billion in the same period a year earlier, the losses were the second highest since 2011, spurred by $34 billion in losses tied to the U.S. storms, the highest ever for a six-month period. Globally, severe convective storms, which can include thunder, lightening, heavy rain, strong winds and sudden changes in temperature caused losses of $35 billion, Swiss Re said. "With severe thunderstorms as the main driver for above-average insured losses in the first half of 2023, this secondary peril becomes one of the dominant global drivers of insured losses," Martin Bertogg, Head of Catastrophe Perils at Swiss Re, said. "The above‑average losses reaffirm a 5–7% annual growth trend in insured losses, driven by a warming climate but even more so, by rapidly growing economic values in urbanized settings, globally." During the same period, overall economic losses - which includes damage that is not insured - were $120 billion, down slightly from $123 billion in the prior-year period, but 46% above the 10-year average, Swiss Re said.

Persons: Greenlee Beal, Martin Bertogg, Simon Jessop, Kirsten Donovan Organizations: REUTERS, Global, reinsurer Swiss, Swiss Re, Swiss, Thomson Locations: Texas, San Antonio , Texas, U.S, United States

☆ Nearly 62,000 people died from record-breaking heat in Europe last summer. It’s a lesson for the US, too
▼ + stars: | 2023-07-10 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +7 min

CNN —Nearly 62,000 people died heat-related deaths last year during Europe’s hottest summer on record, a new study has found — more heartbreaking evidence that heat is a silent killer, and its victims are vastly under-counted. Of the nearly 62,000 deaths analyzed, heat-related mortality rate was 63% higher in women than in men. “The acceleration of warming observed over the last 10 years underlines the urgent need to reassess and substantially strengthen prevention plans,” Achebak said. Heat deaths have outpaced hurricane deaths in the country by more than 8-to-1 over the past decade, according to data tracked by the National Weather Service. Yet the United States’ heat mortality numbers would suggest that far fewer people are dying from heat than in Europe.

Persons: “, Joan Ballester, Ballester, ”, Matt Dunham, —, Hicham Achebak, ” Achebak, Ricardo Rubio, David S, Jones, “ There’s, ” Jones, ” John Balbus, Greenlee Beal, Balbus, Biden, “ We’re, ” Balbus Organizations: CNN, Nature Medicine, Eurostat, Guard, Europa Press, National Weather Service, Centers for Disease Control, Harvard University, Health Equity, US Department of Health, Human Services, CDC Locations: Europe, Italy, Spain, Germany, ISGlobal, Buckingham, London, Madrid, United States, France, American, Chicago, Eagle Pass , Texas, U.S

☆ Last month was the planet’s hottest June on record by a huge margin
▼ + stars: | 2023-07-06 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +4 min

The analysis from the European Union’s Copernicus Climate Change Service found that last month was the planet’s hottest June by a “substantial margin” above the previous record, which was set in 2019. The nine hottest Junes have all occurred in the last nine years, according to the agency – evidence the human-caused climate crisis is driving temperatures to unprecedented levels. This is exactly what global warming looks like.”Scientists have warned that these record temperatures bear the fingerprints of the climate crisis. Northwest Europe experienced record-breaking temperatures last, including the UK, which logged its hottest June on record, according to the UK Met Office. “The ocean warming is even more concerning because as the oceans warm, they expand, which means higher sea levels, larger storms surges and more flooding of coastal communities,” Marlon said.

Persons: Copernicus, ” Jennifer Marlon, “, Greenlee Beal, El Niño, ” Marlon, — Organizations: CNN, Southern, Yale School of Environment, Northwest, UK Met Office, Reuters, Climate, Atlantic Locations: Southern US, Mexico, El, Pacific, Northwest Europe, Canada, United States, Asia, Australia, Texas, Central America, Ireland, Baltic, Europe, Iceland, Russia, Turkey, Kosovo, Romania, Scandinavia, America, Horn of Africa, South America, Antarctica

Compounding the dangerous effects of the heat wave will be abnormally warm overnight temperatures that will provide little to no relief from the heat, the prediction center said. The heat wave is expected to get worse before it gets better, with no relief in sight before early next week. In the meantime, more than 90 record high temperatures could be broken this week from Texas to Missouri to Florida. The state has been experiencing the heat wave for more than two weeks. Eric Gay/APTemperature records already brokenThe intensifying heat wave has already brought record-breaking temperatures to Texas.

Persons: Wesley Hopkins, ”, Eric Gay, Del, Rodrigo Pineda, Jose Balino, Dorsey, Kaylee Greenlee Beal Organizations: CNN, National Weather Service, Austin EMS, The Texas Department of State Health Services, Dallas, ” New, Del Rio, Central Locations: Arizona, Florida, Dallas , New Orleans, Baton Rouge , Louisiana, New Mexico, Texas, Plains, Missouri, Shreveport, Austin , Texas, New Orleans, Louisiana, Mississippi, ” New Orleans, Albuquerque, San Antonio, San Angelo, Del Rio, Angelo, Eagle Pass , Texas, Southern Plains

☆ New York Fed says global supply chain pressures further abated in May
▼ + stars: | 2023-06-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +2 min

REUTERS/Kaylee Greenlee BealNEW YORK, June 6 (Reuters) - Supply chain pressures cooled again in May, New York Fed data showed, in a development that further eased what had been one of the key factors that had helped drive surging inflation pressures around the work. The New York Fed said on Tuesday that its latest Global Supply Chain Pressure Index stood at -1.71, from the revised -1.35 for April. The report said supply chain pressures were below average in all regions of the world considered in the index. After peaking in December 2021 at a reading of 4.31, the New York Fed index has been steadily retreating as supply chain kinks generated by the coronavirus pandemic have gotten worked out. Supply chain pressures had been a key factor in pushing up inflation, which in turn drove central banks like the Federal Reserve toward aggressive rate increases to bring price pressures back in line.

Persons: Greenlee Beal, it's, Michael S, Andrea Ricci Organizations: San Antonio Shoe, REUTERS, , New York Fed, New York Fed, New, Fed, Federal Reserve, Thomson Locations: Del Rio , Texas, U.S, , New York, Great Britain, Taiwan

☆ Brittney Griner arrives in the U.S. after prisoner exchange with Russia
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

Dec 9 (Reuters) - A plane carrying basketball star Brittney Griner landed in the United States early on Friday, nearly 10 months after she was detained in Russia. Griner was released in a prisoner swap with Russia in exchange for arms dealer Viktor Bout and was heading home on Thursday, ending what President Joe Biden called months of "hell" for her and her wife. [1/3] The plane carrying U.S. basketball star Brittney Griner arrives, following her release from prison in Russia, in San Antonio, Texas, U.S., December 9, 2022. The swap was a rare instance of cooperation between the United States and Russia since the invasion of Ukraine. The two countries also swapped prisoners in April when Russia released former U.S. Marine Trevor Reed and the United States released Russian pilot Konstantin Yaroshenko.

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