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Like many baseball stadiums around the country, Tropicana Field's geographic location makes it vulnerable to hurricane winds or tornado-force winds, hail, storm surge and flooding. NFL stadiums could experience $11 billion in climate-related losses by 2050, according to a new report released by the climate risk analysis company, Climate X. Climate X said it's a wake-up call for state and local governments. If you had a problem there yesterday, that doesn't mean that it's going to be there tomorrow," said Kamil Kluza, co-founder of Climate X. The risks from changing weather patterns go far beyond hurricane winds and flooding.
Persons: it's, X, Kamil Kluza Organizations: Field, Tampa Bay Rays, Tropicana, Baltimore Orioles, Los Angeles Dodgers, New York Mets, Miami Marlins, Pittsburgh Pirates, San Diego Padres, Climate, Arizona Diamondbacks, Chase, Minnesota Vikings, Metrodome Locations: St . Petersburg, Key, Florida, Hurricane, Tampa , Florida, Phoenix
Travelers reported a nearly three-fold jump in third-quarter profit on Thursday, as higher underwriting gains and investment income more than offset steep catastrophe losses. Travelers' net written premiums rose 8% in the quarter from a year earlier, as all its units grew, the company said. Underwriting gains climbed to $685 million compared with a loss of $136 million a year earlier, while net investment income rose nearly 18%, thanks to strong fixed income returns and growth in fixed maturity investments. The euphoria has also spread to other asset classes, bolstering gains across investment portfolios. Travelers' underlying combined ratio improved to 85.6%, compared with 90.6% a year earlier.
Persons: Hurricane, Debby, Francine, Helene, Milton Organizations: Travelers, United Locations: United States, Florida, Louisiana
The Small Business Administration ran out of funding for its disaster loan program on October 15. The lapse could slow recovery efforts by small businesses damaged by hurricanes Helene, Milton. The Small Business Administration said on October 15 that its disaster loan program had run out of money. In the meantime, Biden administration officials and business leaders are encouraging people to fill out applications for SBA disaster loans. Are you a business owner, homeowner, or renter affected by the SBA's pause in disaster loans?
Persons: Milton, , Helene, isn't, Kit Cramer, Cramer, Hurricane Helene, Hurricane Milton, Joe Biden, Hurricanes Helene, Mike Johnson, Biden, Isabel Casillas Guzman Organizations: Business Administration, SBA, Service, Asheville Chamber of Commerce, Hurricane, FEMA, Hurricanes, Republican, Chamber of Commerce Locations: Asheville, Hurricane, reconvene, Louisiana, Washington, Swannanoa , North Carolina
New York CNN —The economic successes of Asheville, North Carolina and Tampa, Florida, have been the envy of many cities across the United States. Will the economies in hard-hit areas like Asheville and Tampa ever fully recover from the hurricanes? Economic activity plunged in the immediate months following Hurricane Katrina in New Orleans, Hurricane Harvey in Houston and Hurricane Irma in Columbia, South Carolina. But within one year after those hurricanes, among the costliest in the US in the last 20 years, economic activity rebounded to levels similar to or greater than before the hurricanes. People could similarly leave parts of Florida if home and flood insurance rates, which have gone up significantly in recent years, continue to jump post Helene and Milton, Kamins told CNN.
Persons: Hurricanes Helene, Milton, Hurricane Harvey, Hurricane Irma, Harvey, Irma, Eric Gay, Helene, Adam Kamins, ” Kamins, Kamins, he’s Organizations: New, New York CNN, Labor Department, Hurricanes, Office, National Guard, Hurricane, ” Local, Moody’s, CNN Locations: New York, Asheville , North Carolina, Tampa , Florida, United States, Will, Asheville, Tampa, New Orleans, Hurricane, Houston, Columbia , South Carolina, Sandy, New Orleans , Louisiana, Texas, , ” Local Louisiana, Orleans, Florida, North Carolina
New York CNN —Losses from Hurricane Milton could reach as high as $34 billion, according to an early estimate of both flood and wind damage from research firm CoreLogic, with between $4 billion to $6 billion of those losses being uninsured flood damage. Most insured flood damage is covered by the National Flood Insurance Program (NFIP), run by the Federal Emergency Management Agency. Homeowners who live in areas at high risk of flooding are often required by their mortgage lender to have flood insurance. The Milton losses will likely total far below CoreLogic’s estimated losses of up to $47.5 billion from Hurricane Helene, which came only two weeks before Milton. The lower end of the insured losses estimate from CoreLogic would be $17 billion, with $13 billion of wind damage covered by homeowners and business insurance , and $4 billion of insured flood losses.
Persons: Hurricane Milton, , Daniel Betten, Milton, , Tom Larsen, Hurricane Helene, Ike, Helene Organizations: New, New York CNN, tornados, National Flood Insurance, Federal Emergency Management Agency, Homeowners, Hurricane, Insurance Information Institute, Florida Gulf, Citizens Property Insurance Corp Locations: New York, Hurricane Milton, Florida, United States, Sarasota, Tampa, CoreLogic, Hurricane, Florida Gulf Coast
“I think it would be a big mistake to underestimate the president,” Scholz told PBS ahead of NATO’s 50th anniversary summit in Washington. Biden has instead opted for “minilateralism,” what foreign policy experts have come to term his strategy for dealing with smaller coalitions of like-minded nations. “Ironically, it is precisely Biden’s caution that has encouraged continued Russian, Chinese, North Korean, and Iranian misbehavior,” Kempe writes. According to Pew Research Center polling on views of Biden across 34 countries, 63% of German respondents expressed confidence in Biden. In Poland – another country where aides have considered having Biden visit to tout Ukraine support – 70% of respondents express confidence in Biden.
Persons: Joe Biden’s, he’s, Olaf Scholz, Scholz, , ” Scholz, Biden, Frank, Walter Steinmeier, Hurricane Milton, Volodymyr Zelensky, Fred Kempe, Biden didn’t, ” Kempe, Biden’s, , Richard Wike, Trump, Ukraine that’s, Zelensky, Barack Obama, Alexis Tsipras, Obama, ’ ” Obama Organizations: CNN, American, Hurricane, Biden, Russia, China, Atlantic Council, Pew Research, , Global, Research, Trump, Greek Locations: Russia, Ukraine, NATO’s, Washington, Berlin, France, Germany, Israel, United Kingdom, Ukrainian, East, Iran, United States, Africa, Asia, North Korean, Poland, Kenya, Philippines, Greece, Athens
The Summary Forecasts for hurricanes Helene and Milton were highly accurate. Nearly five days before Hurricane Milton hit Florida, National Hurricane Center forecasters predicted its track within just 12 miles of where the storm later made landfall. And yet, at a time when hurricane forecasts are at their most accurate, some meteorologists say they’ve never faced so much skepticism, hatred and conspiracy-minded pushback. They take it personally.”Hurricane forecasts have become more accurateHurricane forecasts have improved dramatically over the past 50 years. The National Hurricane Center publishes data each year about how its forecasts have aligned with reality, and the trend shows a decline in track errors since the 1970s.
Persons: Helene, Milton, , John Morales, they’ve, They’ve, , there’s, Matthew Cappucci, ” Cappucci, Cappucci, Bill Gates, Bradley Panovich, “ It’s, Kim Klockow McClain, Shel Winkley, ” Winkley, Hurricane Milton “ Organizations: Hurricane Milton, National Hurricane Center, National Weather Service, NBC, MyRadar, Washington Post, Harvard, Climate, NOAA Locations: Florida, North Carolina, Appalachia, Louisiana, Charlotte , North Carolina, Hurricane
A Florida man accused of tying his dog to a fence and abandoning it as Hurricane Milton approached the state is now charged with aggravated animal cruelty, authorities announced Tuesday. “In Hillsborough County, we take animal cruelty very seriously,” Lopez said in the statement. Trooper was facing "sure death" when he the trooper found him, Lopez said at a news conference Tuesday alongside Gov. NBC affiliate WFLA of Tampa reported that Garcia went to the Hillsborough County Animal Shelter on Friday looking to claim his dog, the highway patrol said in an affidavit. His information was shared with the sheriff's office in Leon County, where the dog was taken.
Persons: Milton, Giovanny Aldama Garcia, Ruskin, Suzy Lopez, Garcia, , ” Lopez, , Lopez, doesn't, Dave Kerner, Kerner, Trooper, Ron DeSantis, WFLA Organizations: Florida Department of Highway Safety, Motor Vehicles, Thirteenth Circuit, Hillsborough County Sheriff's, Motor Vehicles Department, Patrol, Gov, NBC Locations: Florida, Hillsborough County, Tampa, Georgia, Hillsborough, Leon County
Consumer spending was expected to hold strong in September, possibly even more than forecast and enough to throw another wrinkle into the Federal Reserve's thought process. "If retail sales accelerate considerably, in our view, the narrative may shift further toward 'no landing' or even re-acceleration." "Monthly retail sales data can be volatile. For now, Bhave thinks a strong sales report will "probably not … at least, not yet" hit Fed policy. At the same time the retail report drops, the Labor Department will issue its weekly reading on initial unemployment claims.
Persons: Dow Jones, Aditya Bhave, Bhave, Hurricanes Helene, Milton Organizations: Bank of America, Fed, Labor Department, Hurricanes, Boeing Locations: Michigan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Florida sees jump in unsold homes even before Hurricane Milton and HeleneCNBC's Robert Frank reports on the condo market in South Florida.
Persons: Hurricane Milton, Helene CNBC's Robert Frank Organizations: Hurricane Locations: Florida, South Florida
At that moment, a couple heard Westfield’s screams as they were outside taking videos of water pooling on the road. “I hear her scream ‘get in your house!’ and I was like, oh my God, this is bad,” Brandi Clarke told CNN affiliate WPEC. Westfield’s house was left intact, though she lost the carport and shed roof, but she’s just grateful to be alive. After hearing Westfield’s warning, Clarke told WPEC she and her husband quickly ran inside and grabbed their children. I panicked, but my panic alerted people to go inside, and that’s a blessing,” Westfield told CNN.
Persons: Michelle Westfield’s, Westfield’s, , ” Brandi Clarke, Hurricane Milton, she’s, Clarke, WPEC, , , Brandi Clarke’s, WPEC “, ‘ don’t, don’t, , ” Westfield, ” Clarke, Westfield didn’t, , “ I’m Organizations: CNN, WPEC, Hurricane, Westfield, Facebook, ” Westfield Locations: St, Lucie County , Florida, Lakewood Park, Florida, Spanish, Clarke’s, Brandi, Westfield,
A storm system in the Atlantic could potentially strengthen into a tropical depression as it heads towards the Caribbean later this week, according to the National Hurricane Center — the latest storm in what is already an "above-normal" hurricane season. A tropical depression is a storm with maximum sustained winds of 38 mph, according to the National Weather Service. The National Oceanic and Atmospheric Administration predicted an “above-normal” hurricane season this year, with eight to 13 hurricanes and 17 to 25 named storms. The 2024 hurricane season has already produced nine hurricanes, including four major hurricanes, and 13 named storms, NBC Miami reported. About seven weeks are still left in the 2024 hurricane season.
Persons: Helene, Milton Organizations: National Hurricane Center, Leeward Islands, National Weather Service, Atmospheric Administration, NBC Miami Locations: Caribbean, Leeward, British Virgin Islands, Saint Martin, Anguilla, Saint Kitts, Nevis, Antigua, Barbuda, U.S
Still, “lack of flood insurance is the largest insurance coverage gap we see across the United States,” he said. Here’s what you’re likely to encounter if you’re shopping around for flood insurance policies. Flood insurance 101Homeowners with mortgages are almost always required to have home insurance by their lenders. Most flood insurance is offered through the federally backed National Flood Insurance Program, a part of the Federal Emergency Management Agency. The NFIP estimates that more than 40% of NFIP flood insurance claims come from outside high-risk flood zones.
Persons: Helene, Mark Friedlander, , Rebecca Blackwell, policyholders, Melissa Sue Gerrits, Friedlander, Andy Neal, Milton, Neal, Scott Hawkins, ” Hawkins Organizations: New, New York CNN, Insurance Information Institute, CNN, Flood Insurance, Federal Emergency Management Agency, AP, FEMA Locations: New York, North Carolina, United States, Gulf, Mexico, Hurricane Milton, Englewood , Florida, Swannanoa , North Carolina
The four leaders had planned to meet the prior week with Ukrainian President Volodymyr Zelensky at Ramstein Air Base, a meeting that was scrapped when Biden postponed his foreign travel as Hurricane Milton barreled toward the southeastern US. Biden pledged to reschedule the trip to Germany, but the outlook for the meeting of the so-called European Quad, had been unclear. Zelensky went ahead with his planned travel to Germany on Friday for a bilateral visit with Scholz, in which the German leader pledged an additional $1.5 billion in new aid. Zelensky met with Vice President Kamala Harris during a visit to Washington in September and met in person with former President Donald Trump, too. This is a breaking story and will be updated.
Persons: Joe Biden, Olaf Scholz, Emmanuel Macron, Keir Starmer, Volodymyr Zelensky, Biden, Milton, Zelensky, Scholz, Kamala Harris, Donald Trump Organizations: Washington CNN, Ramstein Air Base, Russia, Kiel Institute Locations: Berlin, Ukraine, Germany, France, German, Washington
ST. PETERSBURG, Fla. — Florida wildlife experts are warning locals in areas battered by Hurricanes Helene and Milton to avoid dark floodwaters for a hair-raising reason: alligators and snakes. The Florida Fish and Wildlife Conservation Commission wrote on X after Milton hit: “Some wildlife, such as alligators, snakes, and bears are more likely to be seen after a storm. She warned that alligators don’t want to be near people, but if someone tries to grab them, they will snap at them. Also ahead of Milton, the Florida Health department urged people to avoid floodwaters due to exposure to Vibrio, a flesh-eating bacteria commonly found in warm coastal waters. It stirred up colonies of yellow jackets in western North Carolina, likely due to their underground nests being destroyed from rain, flood water and toppled trees.
Persons: Milton, ” Rene Walker, , ” Walker, Jen Messer, , Messer, ” Messer, ” Ron Magill, Keith March, We’ve, Walker, Hurricane Helene Organizations: Hurricanes, Hurricane Milton, Tampa Bay, NBC News, Florida Fish and Wildlife Conservation, gator, Zoo Miami, and Wildlife Conservation Commission, Florida Health Locations: PETERSBURG, Fla, — Florida, Hurricane, Tampa Bay, Tampa, Pascoe County, , Florida, Milton, North Carolina
Three U.S.-based academics won the 2024 Nobel economics prize on Monday for their research into why global inequality persists, especially in countries dogged by corruption and dictatorship. The laureates have demonstrated the importance of societal institutions for achieving this,” said Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences. Last year, Harvard economic historian Claudia Goldin won the prize for her work highlighting the causes of wage and labour market inequality between men and women. In 2019, economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the award for work on fighting poverty. The economics prize has been dominated by U.S. academics since its inception, while U.S.-based researchers also tend to account for a large portion of winners in the scientific fields for which 2024 laureates were announced last week.
Persons: Simon Johnson, James Robinson, Daron Acemoglu, , Jakob Svensson, Alfred Nobel, Acemoglu, ” Acemoglu, Johnson, Robinson, Milton Friedman, John Nash —, Russell Crowe, Ben Bernanke, Claudia Goldin, Abhijit Banerjee, Esther Duflo, Michael Kremer, Victor Ambros, Gary Ruvkun, Japan’s Nihon Organizations: Royal Swedish Academy of Sciences, Economic Sciences, Bank, Sveriges, Massachusetts Institute of Technology, University of Chicago, Technology, Federal, Research, Harvard, U.S Locations: U.S, Hiroshima, Nagasaki
For decades, an icy moon of Jupiter has been considered one of the most promising places to search for extraterrestrial life in the solar system. As early as midday Monday, NASA plans to launch a new robotic mission to Jupiter. Dubbed Europa Clipper, the probe is the largest spacecraft it has ever built for a planetary science mission. Assuming the launch does not face any further delays, Europa Clipper is scheduled to lift off at 12:06 p.m. A mosaic image of Jupiter's moon Europa, obtained by the camera onboard NASA's Galileo spacecraft on Nov. 25, 1999.
Persons: NASA’s, Hurricane Milton, , Jordan Evans, Bonnie Buratti, “ We’re, ” Buratti, “ We’ll, , we’ll, ” Evans, Galileo Galilei, Buratti, “ I’ve, I’m Organizations: NASA, Clipper, SpaceX, NASA’s Kennedy Space Center, Kennedy Space, Jet Propulsion Laboratory, Europa, NASA Europa Clipper, Cornell University Locations: Europa, Florida, Hurricane, Florida’s, Siesta, Italian
ENGLEWOOD, Fla. — Sand is piled up to the first floor of most homes on Manasota Key, a sliver of land off Florida’s west coast, where devastation is widespread. The community, about 30 miles south of where Hurricane Milton made landfall Wednesday, sits across a bay from Englewood, between Fort Myers and Sarasota. Scenes of devastation in Manasota Key, Fla., on Sunday after Hurricane Milton made landfall nearby. The rooms at the Sea Oats Beach Club in Manasota Key are filled with upward of 3 feet of sand. More than 750,000 Floridians are still without power five days after Milton made landfall, according to PowerOutage.us.
Persons: Milton, Hurricane Milton, Natalie Obregon, Kris Hleuka, , Hleuka, Ian, I’m, Brenda Kreuger, Hleuka's, Pam Hager, ” Jay Hager, I’ve, They’re, Helene, Ben Bailey, Bailey, John Elias, Charlotte County, Joe Biden Organizations: NBC News, Charlotte, Hurricane, NBC, Residents, Englewood ., Oats Beach Club, Oats Beach Locations: ENGLEWOOD, Fla, Englewood, Fort Myers, Sarasota, Manasota Key, Florida, Englewood . Jay, Manasota, Charlotte County, St . Petersburg
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlorida real estate still seeing healthy demand after Hurricane Milton: BH Group's Isaac ToledanoIsaac Toledano, BH Group founder and CEO, joins 'The Exchange' to discuss Hurricane Milton's effect on the Florida real estate market, how the storm could impact insurance prices in the state, and more.
Persons: BH, Isaac Toledano Isaac Toledano Organizations: Hurricane Milton, BH Group Locations: Florida
Oil prices fall by more than $1 on deflation worries in China
  + stars: | 2024-10-14 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices fell by more than $1 a barrel, losing over 1.5% in early trading on Monday, after disappointing Chinese inflation data and a lack of clarity on Beijing's economic stimulus plans stoked fears about demand. In the U.S. market, energy firms last week added oil and natural gas rigs for the first time in four weeks, according to a closely followed report by energy services firm Baker Hughes. The oil and gas rig count, an early indicator of future output, rose by one to 586 in the week to Oct. 11. The impact of Hurricane Milton boosted short-term demand in the U.S. as evacuations supported gasoline consumption, but weak demand dominated the fundamentals outlook. Oil major BP posted a $600 million drop in its third-quarter profit on Friday because of weak refining margins amid a slowdown in global oil use.
Persons: Tony Sycamore, Baker Hughes, Hurricane Milton Organizations: Brent, U.S . West Texas, National Bureau of Statistics, China Ministry of Finance Locations: U.S, China, Beijing, East, Florida, The U.S, Iran, Israel, Hurricane
Then, in late September, Hurricane Helene flooded the rental home she now shares with her husband and 10-month-old baby. The storm made landfall as a Category 3 hurricane in the Siesta Key area of Florida, causing damage and flooding throughout Central Florida. According to Bankrate, the average annual homeowners insurance premium in Florida is $3,242 more than the national average. But traditional homeowners’ insurance doesn’t cover flood damage. Most of the water damage sustained from Helene would be covered by flood insurance, often provided by the National Flood Insurance Program, and backed by the government.
Persons: Idalia, Rachel Muse, Connealy, Hurricane Helene, , , Hurricane Milton, Joe Raedle, Josh Hanoud, Hanoud, hasn’t, “ We’ve, what’s, “ I’m, Tina Villanueva, Villanueva, Helene, Milton, Bankrate, Hurricane Helene, Maria, Rebecca Blackwell, there’s, Chuck Nyce, Nyce, CoreLogic, G, Michael Harris ’, Harris, Michael Harris, ” Harris, “ I’ve, we’ve Organizations: CNN, Hurricane, Hurricane Milton, Florida State University, National Flood Insurance, Insurance Information Institute Locations: St . Petersburg , Florida, , Hurricane Milton, Tampa, Florida, Hurricane, Punta Gorda , Florida, Central Florida, Zillow . Florida, Bradenton Beach, Maria Island , Florida, Belleair , Florida, Belleair
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix has a real problem with its 'no theaters' strategy, says Puck's Matt BelloniMatt Belloni, Puck founding partner, joins 'Squawk Box' to discuss what to expect from Netflix's quarterly earnings results on Thursday, Netflix's foray into sports, Joker's fall at the box office, Hurricane Milton's impact on Disney, and more.
Persons: Matt Belloni Matt Belloni, Puck Organizations: Netflix, Disney
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect restaurants impacted by hurricanes to 'bounce back quickly', says Guggenheim's Greg FrancfortGregory Francfort, Guggenheim Securities lead restaurant analyst, joins CNBC's 'The Exchange' to discuss the economic impact of Hurricane Milton on restaurants, how long it will take those affected to bounce back, and more.
Persons: Greg Francfort Gregory Francfort Organizations: Guggenheim Securities Locations: Hurricane Milton
CNN —Aid to several communities impacted by Hurricane Helene was temporarily paused in parts of North Carolina over the weekend due to reports of threats against Federal Emergency Management Agency responders, amid a backdrop of misinformation about responses to recent storms. Some FEMA teams helping disaster survivors apply for assistance in rural North Carolina are currently working at secure disaster recovery centers in counties where federal workers are receiving threats, a FEMA spokesperson told CNN on Monday. More than 100 people were killed in North Carolina and thousands of others were left grappling with catastrophic damage. There were more than 1,200 FEMA staff providing support in North Carolina as of Saturday, according to an update from the agency. FEMA officials have received threats before, but the difference is the magnitude of threats received in the wake of Helene’s devastation in North Carolina, the FEMA spokesperson told CNN.
Persons: Hurricane Helene, It’s, Helene, Phil Howell, Howell, we’ve, Hurricanes Helene, Milton, Joe Biden, , Kerry Giles, CNN’s Jalen Beckford Organizations: CNN, Federal Emergency Management Agency, FEMA, National Guard, Washington Post, Sheriff B, Facebook, Rescue, Hurricanes, Biden, Senior Locations: Hurricane, North Carolina, Rutherford County, Asheville, Florida, Ashe County, Tennessee, Virginia, , ” Rutherford
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSocial media platform Nextdoor looks to sustain growth from Hurricane MiltonCNBC's Deirdre Bosa joins 'The Exchange' to report on Nextdoor seeing a spike in activity due to Hurricane Milton, and how it plans to continue to grow.
Persons: Hurricane Milton CNBC's Deirdre Bosa, Hurricane Milton Locations: Hurricane
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