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REUTERS/David 'Dee' Delgado/ Acquire Licensing RightsOct 3 (Reuters) - The global cryptocurrency market remains badly scarred following the tumultuous collapse of crypto exchange FTX and other big players last year, with crypto prices, volumes and venture capital investment well below their 2021 peaks. BITCOIN BLUESBitcoin, by far the biggest cryptocurrency and the chief barometer for crypto market sentiment, has bounced back about 37% since Nov. 1. Reuters Image Acquire Licensing RightsCRUMBLING MARKET CAPAfter peaking at $3 trillion in November 2021, the value of the overall crypto market plummeted through 2022, hitting a two-year low of $796 billion as FTX imploded. Yet the relative calm in crypto markets is not necessarily a good thing, said some market participants, noting that many investors are attracted to crypto precisely because of its volatility, which offers opportunities to make quick profits. Reuters GraphicsVC CRYPTO BETS TUMBLEVenture capital (VC) investments flooded into crypto during its boom year of 2021, and even through 2022.
Persons: Damian Williams, Samuel Bankman, David, Dee, Delgado, Sam Bankman, FTX, cryptocurrencies, Bitcoin, bitcoin, Ben Laidler, Usman Ahmad, Anders Kvamme Jensen, Robert Le, CCData, Noelle Acheson, Hannah Lang, Elizabeth Howcroft, Tom Wilson, Michelle Price, Andrea Ricci Organizations: REUTERS, Capital, Silvergate Bank, BlackRock, Reuters, Zodia, Chartered, Reuters Graphics, U.S, Venture, Thomson Locations: New York City, U.S, New York, Singapore, London, Washington
Utility stocks are getting pummeled to a historic degree as interest rates rise to their highest level in more than a decade, according to technical indicators. XLU 1M mountain Utilities stocks have fallen sharply in recent weeks as interest rates have climbed. "The interest rate regime, I certainly think that's what has caused this latest sell-off. Rising interest rates are a double whammy for utility stocks. "Based on our valuation regression model, which accounts for both interest rates and growth among other factors, utilities still screen ~9% overvalued ...
Persons: Jason Goepfert, SentimenTrader, Chris Verrone, I'm, Goepfert, It's, They're, Josh Brown, NextEra's, Brown, Ross Fowler, — CNBC's Michael Bloom Organizations: Federal, CNBC, Wealth, NextEra Partners, NextEra Energy, UBS
[1/2] Sep 24, 2023; Kansas City, Missouri, USA; Taylor Swift reacts while watching the Kansas City Chiefs vs Chicago Bears game during the first half at GEHA Field at Arrowhead Stadium. A rumored relationship between Swift and Chiefs tight end Travis Kelce has sent interest sky-rocketing in Super Bowl champion Kansas City. In another sign of "the Swift Effect," sales of Kelce's jersey surged after Swift's appearance at his Week 3 home game. The broadcast featured ads for the forthcoming concert film "Taylor Swift: The Eras Tour" and on several occasions cut to Swift, who cheered on the Kansas City team enthusiastically, while commentators made references to her song lyrics. Swift had also appeared at the Chiefs' Week 3 game at home at which the champions pummeled the Chicago Bears 41-10.
Persons: Taylor Swift, Denny, Swift, Travis Kelce, reveled, Amy Tennery, Dawn Chmielewski Organizations: Kansas City Chiefs, Chicago Bears, Arrowhead, New York Jets, Sunday, NBC Sports, Chiefs, Super Bowl, Kansas City, MetLife, Sunday Night, NBC, NFL, pummeled, Minnesota Vikings, Thomson Locations: Kansas City , Missouri, USA, East Rutherford , New Jersey, New York
Hong Kong CNN —September started with a typhoon that ripped through Hong Kong, uprooting trees and flooding the city. People walk past houses destroyed by heavy rain and flooding in Derna, Libya, on September 13, 2023. Elsewhere in Europe, a separate storm – Storm Dana – saw torrential rain across Spain, damaging homes and killing at least three people. Esam Omran Al-Fetori/Reuters An aerial view of the devastation after flooding caused by Storm Daniel on September 15. Abdullah Mohammed Bonja/Anadolu Agency/Getty Images This satellite photo shows the extent of Derna's flooding on September 12.
Persons: Hong Kong CNN —, , Jung, Eun Chu, Esam Omran, Chu, they’ve, Storm Daniel, Angelos Tzortzinis, Kyriakos Mitsotakis, Theodoros Skylakakis, , Megala, Giannis Floulis, Dana –, Cross, Martin Griffiths, Ciaran Donnelly, Amr Alfiky, Ayman Al, Zohra Bensemra, Yousef Murad, Muhammad J, Abdullah Doma, Ahmed Elumami, Jamal Alkomaty, Abdullah Mohammed Bonja, Omar Jarhman, Ali Al, Saadi, Haikui –, Saola, Haikui, Maria Clara Sassaki, Rick Cinclair, Phil Klotzbach Organizations: Hong Kong CNN, UN, City University of Hong, Getty, Greek, CNN, International Committee, International Rescue, United Arab Emirates, Reuters Volunteers, Reuters, Elalwany, Anadolu Agency, Reuters Workers, Planet Labs PBC, AP, AFP, CNN Brasil, Worcester Telegram, Gazette, National Oceanic, Atmospheric Administration, of Atmospheric Science, Colorado State University Locations: Hong Kong, Libya, City University of Hong Kong, Derna, Europe, Greece, Palamas, AFP, Megala Kalyvia, Turkey, Istanbul, Bulgaria, Spain, Libyan, Shahhat, Asia, Taiwan, China, Shenzhen, Americas, Brazil, Rio Grande do Sul, Brazilian, United States, Nevada, Massachusetts, New Hampshire, Leominster , Massachusetts, El
Isaacson said Musk's second wife, Talulah Riley, said inside Musk is a manchild standing before his father. His newest opus, a biography of Elon Musk, was released on Tuesday. "Love and family are kind of associated with those psychological torments" for Musk, Riley told Isaacson. AdvertisementAdvertisementIsaacson himself described Errol Musk on the podcast as "psychologically problematic and difficult." Errol Musk added that he had learned about the entire incident from the headmaster of Elon Musk's school at the time.
Persons: Walter Isaacson, Elon Musk, Lex Fridman, Isaacson, Musk's, Talulah Riley, Riley, Musk, she's, TJ, Isaacson —, Errol Musk, Lex Fridman's, Tesla, Elon, Jane, Rachel Levine Organizations: Service, Elon Musk's, Biz News, Twitter Locations: Wall, Silicon, British, X's
Musk wanted to save that money by moving the servers to one of X's other facilities, in Portland, Oregon. James Musk asked. "The dude is not very good at math," Musk told the musketeers. The lack of servers caused meltdowns, including when Musk hosted a Twitter Spaces for presidential candidate Ron DeSantis. And the Sacramento caper showed X employees that he was serious when he spoke about the need for a maniacal sense of urgency.
Persons: Walter Isaacson's, Elon Musk, Musk, you've, Tesla, Steve Davis, Omead Afshar, James Musk, James, Andrew, Austin, Elon, Alex, Alex the, jimmy, , Ross Nordeen, enlistees, I've, Ross, pushback, Ron DeSantis, X, Walter Isaacson, Jennifer Doudna, Leonardo da Vinci, Steve Jobs, Albert Einstein, Benjamin Franklin, Henry Kissinger Organizations: Twitter, SpaceX, Cape Canaveral, Avid, Toyota Corolla, Apple, Home, NTT, Walmart, Extra Care, PayPal, Depot, CNBC, Tulane University, CNN Locations: Musk's, Sacramento, Portland , Oregon, Portland, Fremont, Texas, Cape, San Francisco, Tahoe, Elon, Austin, Las Vegas, Uzbekistan, Square, Yelp
Public schools with no air conditioning or whose cooling systems are inoperable due to power outages blamed on a hurricane-battered electric grid are seeking relief, but it’s unlikely they’ll find it soon. Pedro Pierluisi quietly vetoed a bill that called for air conditioning systems for public schools. But air conditioning remains rare at public schools, which depend on fans and trade winds that blow through windows with metal shutters. It's unknown how many public schools lack air conditioning or have air conditioners that don't work because of electrical problems. More than 50% of public schools also have reported a heat-related emergency.
Persons: Ángel Muñiz, , Puerto Rico, Odalys Martínez, Pedro Pierluisi, , Yasim Sarkis, “ There’s, ” Sarkis, Hurricane Maria, Sheila Angleró, Edwin Morales, it's, Raúl González, they've, Ángel Matos García, Sarkis ’, Sarkis, you’ll Organizations: JUAN, , National Weather Service, Puerto Rico, , Gov, Hurricane, Associated Press, Department of Education, island’s Federation of Teachers, Puerto Rico’s Association of Teachers, Puerto Rico’s, Representatives Locations: Puerto Rico, U.S, Caribbean, Puerto, San Juan, saunas, Bermuda
The run ended with a groundout against Dunning in the fifth. Houston's star second baseman homered twice in the series opener, giving him consecutive multi-homer games for the first time in his career. 9 and leadoff spots twice in the series opener with Mauricio Dubón and Altuve. DEJA VU FOR HISTORYAustin Hedges became the first position player in Texas Rangers history to pitch in consecutive games. The move came a day after Sborz allowed six runs while getting just one out in the 13-6 loss in the series opener.
Persons: — Jose Altuve, Nathan Eovaldi, Altuve, Altuve —, Dane Dunning, Martín Maldonado, Yordan Alvarez, hasn't, Dunning, Richard Hidalgo, Mauricio Dubón, Framber Valdez, José Abreu, Chas McCormick, Eovaldi hadn't, Eovaldi, HISTORY Austin Hedges, Ryne Stanek, Josh Sborz, Sborz, Cy Young, Justin Verlander, Max Scherzer, ___ Organizations: Houston Astros, Texas Rangers, Altuve, Rangers, Astros, Rangers . Texas, AL West, Houston, AL, Tampa Bay, HISTORY Austin Locations: ARLINGTON , Texas, Texas
CNN —Four astronauts have returned home from a six-month stay on the International Space Station, making a splashdown landing aboard their SpaceX Crew Dragon capsule off the coast of Florida on Monday. The astronauts, members of the Crew-6 mission run jointly by NASA and SpaceX, departed the space station on Sunday at 7:05 am ET. Before the astronauts left the space station, NASA said that it had been monitoring the impact of Hurricane Idalia, which made landfall Wednesday morning on Florida’s Gulf Coast. Over the past week, the Crew-6 astronauts worked to welcome and hand over operations to Crew-7 team members, who arrived at the space station on August 27. During their stint in space, the Crew-6 astronauts were slated to oversee more than 200 science and tech projects.
Persons: Stephen Bowen, Warren “ Woody ” Hoburg, Alneyadi, Andrey Fedyaev, ” Hoburg, , It’s, Hoburg Organizations: CNN —, SpaceX, NASA, Carolinas, United, CRS, International Locations: Florida, Jacksonville , Florida, Gulf Coast, Georgia, United Arab Emirates, Russian, American, Saudi Arabia
“Imagine a hallucinogenic state fair,” the reporter Rick Marin wrote about Burning Man in The New York Times in 2000. The article described an environment of countercultural revelry, where hippies and Silicon Valley types cut loose in surroundings reminiscent of both “Mad Max” and Cirque du Soleil. The event was pummeled by rain that began on Friday night, leaving thousands of attendees trapped and dealing with thick sludge. With limited access to the site, attendees have been told to conserve food and water. The extreme conditions have challenged the free-spirited atmosphere that has long been central to Burning Man’s allure.
Persons: Rick Marin, Max ” Organizations: The New York Times, du Locations: The, Nevada
CNN —Four astronauts concluded their six-month stay aboard the International Space Station on Sunday and are heading for a splashdown off the coast of Florida days after Hurricane Idalia ravaged parts of the state. The astronauts, members of the Crew-6 mission run jointly by NASA and SpaceX, boarded their Crew Dragon capsule on Sunday and departed the space station at 7:05 a.m. Over the past week, the Crew-6 astronauts have worked to welcome and hand over operations to the Crew-7 team members, who arrived at the space station on Sunday. During their stint in space, the Crew-6 astronauts were slated to oversee more than 200 science and tech projects. But the Russian Soyuz spacecraft that carried him and two Russian colleagues to the space station sprang a coolant leak late last year.
Persons: Hurricane, Stephen Bowen, Warren “ Woody ” Hoburg, Alneyadi, Andrey Fedyaev, ” Hoburg, , It’s, Hoburg, Frank Rubio, Rubio, Mark Vande Hei, Rubio’s, “ We’ve, “ Frank, Organizations: CNN —, NASA, SpaceX, Carolinas, United, CRS, International Space Station, Russian Soyuz Locations: Florida, Gulf Coast, Georgia, United Arab Emirates, Russian, American, Saudi Arabia, Roscosmos
REUTERS/Cheney Orr/File Photo Acquire Licensing RightsWASHINGTON, Sept 2 (Reuters) - U.S. President Joe Biden heads to Florida on Saturday to survey damage caused by Hurricane Idalia and comfort people affected by the storm, but he will not be meeting Ron DeSantis, the state's Republican governor and a potential presidential rival. DeSantis, 44, is running for the 2024 Republican presidential nomination to oust Biden from the White House but trails former President Donald Trump in polls. Biden and DeSantis have spoken regularly through the week about the storm, which pummeled Florida's Big Bend region with Category 3 winds of nearly 125 mph (200 kph). DeSantis has been a sharp critic of Biden, and the two have clashed over COVID-19 vaccines, abortion and LGBT rights. DeSantis may not want to be photographed with Biden overlooking storm damage now as the Republican presidential primary race intensifies.
Persons: Dennis Buckley’s, Cheney Orr, Joe Biden, Hurricane Idalia, Ron DeSantis, Biden, Jeremy Redfern, Donald Trump, DeSantis, pummeled, Jill, Emilie Simons, Chris Christie, Barack Obama, superstorm Sandy, Jeff Mason, William Mallard Organizations: REUTERS, Rights, Republican, FEMA, Federal Emergency Management Agency, Former New Jersey, Democrat, Thomson Locations: Horseshoe Beach , Florida, U.S, Florida, Bend, COVID, Hurricane, Trump, Hawaii, Delaware
CNN —Tens of thousands of people attending the Burning Man festival in the Nevada desert are being told to conserve food, water and fuel as they shelter in place in the Black Rock Desert after a heavy rainstorm pummeled the area, festival organizers said. The gate and airport into Black Rock City, a remote area in northwest Nevada, remain closed and no driving is allowed into or out of the city except for emergency vehicles, the organizers said on X, the social media platform formerly known as Twitter. “Do not travel to Black Rock City! Access to the city is closed for the remainder of the event, and you will be turned around,” one statement read. The city is expecting more showers and thunderstorms on Sunday before 5 p.m. local time, organizers said in a weather forecast update.
Organizations: CNN, Black Rock City Locations: Nevada, Black Rock, Rock
Recent drone attacks in Russia have exposed weaknesses in the country's advanced air defenses. As a result, smaller drones have been able to evade detection and strike targets on Russian soil. AdvertisementAdvertisementThe recent spate of attacks on Russian soil, however, are likely to be embarrassing for one of the world's foremost military powers. AdvertisementAdvertisementRussian air defense systems, which are among the most advanced in the world, are used by dozens of countries, and many have developed variations of them, according to the Center for Strategic and International studies. Ukraine can only use its own drones to strike inside Russia because of restrictions on using NATO weapons on Russian territory.
Persons: Samuel Bendett, Bendett Organizations: Service, Center for Naval, UK's Ministry of Defence, Center for Strategic, NATO Locations: Russia, Wall, Silicon, Ukraine, Ukrainian, Pskov, Moscow
[1/2] Aug 31, 2023; Flushing, NY, USA; Aryna Sabalenka hits to Jodie Burrage of Great Britain on day four of the 2023 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center. I think I played really great tennis today," she told reporters. Burel showed some signs of life when she fended off a pair of break points in the opening game of the second set but Sabalenka quickly retook control. Sabalenka said mental toughness was the key to surviving the two-week grind at the U.S. Open. She's playing great tennis.
Persons: Jodie Burrage, USTA Billie Jean King, Danielle Parhizkaran, Clara Burel, player's, Sabalenka, Louis Armstrong, Daria Kasatkina, Minnen, Burel, Kasatkina, She's, Amy Tennery, David Holmes Organizations: USTA Billie, USTA Billie Jean King National Tennis Center, U.S, player's New, Louis, Belgian, U.S ., Thomson Locations: Flushing , NY, USA, Great Britain, player's New York, New York
"The war is coming home to Russia," Timothy Ash, emerging markets strategist at BlueBay Asset Management, said in emailed comments Wednesday. Alexander Nemenov | Afp | Getty ImagesAerial assaults have intensified in recent days with strikes occurring further into Russian territory. Drone warfareRussia blamed Ukraine for the latest drone attacks while Ukraine remained characteristically tight-lipped about these, and previous, assaults. Ukraine has been targeted with thousands of Russian drone attacks during the 19-month-long conflict, with its energy, defense and civilian infrastructure pummeled by swarms of Iranian-made UAVs. Experts agree that Ukrainian forces direct attempts to attack Russian territory and are likely to be assisted by disaffected anti-war Russians at times.
Persons: Vladimir Putin, Alexey Nikolsky, Timothy Ash, Putin, Ash, Alexander Nemenov, Mikhail Razvozhaev, Vladimir Putin's, Kirill Shamiev, Shamiev, Volodymyr Zelenskyy, Zelenskyy Organizations: Afp, Getty, Russian, BlueBay Asset Management, Police, Moscow International Business, Reuters, Russian Ministry of Defense, European Council, Foreign Relations, CNBC, Kremlin, Kyiv, Ukrainian Armed Forces Locations: Orenburg, Russia, Moscow, Russian, Crimea, Ukraine, Kerch, Bryansk, Sevastopol, Kyiv
CEDAR KEY, Fla. — As cleanup begins in the aftermath of Hurricane Idalia, the storm has served as a stark reminder that Florida's insurance industry remains in flux. But many of those homeowners face uncertainty amid the upheaval that has emerged in Florida's insurance industry in recent years. A thinning insurance market that is beset by more regular hurricanes has caused insurance policy costs to skyrocket. The state's insurance industry is preparing to lose four insurers since last year — Farmers Insurance, Bankers Insurance, Centauri Insurance and Lexington Insurance. Aggravating the problem, 82% of Floridians do not have flood insurance, which is typically operated by the National Flood Insurance Program, a federal program run by the Federal Emergency Management Agency.
Persons: Idalia, Chris Draghi, That's, Gregory Buck, Buck, Aimee Firestine, Firestine, Amy Bach, United, Bach, Mark Friedlander, Friedlander, Gabe Gutierrez, Phil McCausland, Melissa Chan Organizations: Insurance Information Institute, U.S, — Farmers Insurance, Bankers Insurance, Centauri Insurance, Lexington Insurance . Farmers Insurance, National, Experts Insurance, Homeowners, Insurance, Property Insurance Corp, National Flood Insurance, Federal Emergency Management Agency, Congress, First Street Foundation, FEMA, Cedar Key Locations: Fla, Florida's Big Bend, Florida, Georgia, Florida , Georgia, South Carolina, Cedar, America, Taylor County, Bend, New York City
Drone attacks on airfields in Russia are likely forcing it to reshape its air defense, UK intel said. Airfields and other locations deep within Russian territory have been pummeled in multiple strikes by exploding drone attacks in recent weeks — with one flurry, on the night of August 29, striking five separate locations. In August alone 25 places in Russia came under drone attack, the UK MOD said, even penetrating the defenses around Moscow. "Russia will have to consider the addition of further air defence systems to airfields that it considers to be at risk from UAV attacks," the UK MoD said. Russia has blamed the attacks on Ukraine, which generally doesn't claim responsibility for attacks on Russian soil.
Persons: Insider's Sinéad Baker, recrimination, Baker, Bob Hamilton, Ben Hodges, Insider's Erin Snodgrass Organizations: intel, Service, UK's Ministry of Defence, Center for Strategic, MOD, MoD, US Army, Foreign, Research, Eurasia Program, Washington Post, Wall Street Journal, Tupolev, Russia Locations: Russia, Wall, Silicon, Moscow, Ukraine, Ukrainian, US Army Europe
CNN —Russian military hackers have been targeting Ukrainian soldiers’ mobile devices in a bid to steal sensitive battlefield information that could aid the Kremlin’s war on Ukraine, the US and its allies warned Thursday. The news shows how the struggle to control sensitive military data in cyberspace has been a key front in Russia’s full-scale war on Ukraine. The Ukrainian government has encouraged a loose band of thousands of volunteer hackers to launch attacks on Russian assets in Ukraine and on Russian soil. Some analysts and US officials have attributed the relatively limited impact of Russian hacking – at least compared with the outsize expectation of Russian cyber prowess – during the war to the same disorganization that has plagued Russian kinetic operations. But the true scope and impacts of Russian cyber operations in Ukraine is very difficult to pin down in the fog of war, where both sides have incentive to exaggerate their successes.
Persons: Elon Musk’s, , , John Hultquist, Hultquist, ” Paul Chichester, idly, Paul Nakasone Organizations: CNN, Google, Russian Embassy, Cyber Security, Pentagon, Command Locations: Russian, Ukraine, Australia, Canada, New Zealand, United Kingdom, Russia’s, Washington ,, Russia, Ukrainian
RALEIGH, N.C. – The 2024 election promises to feature several major battlegrounds, but for sheer breadth of competitive contests, North Carolina next year will be hard to beat. Recent presidential contests in North Carolina have been close: In 2020, Donald Trump won North Carolina by about 74,000 votes out of more than 5.5 million cast. In other words, in 2024, North Carolina will be one of the centers of the political universe – important in part because it’s a uniquely competitive state. “North Carolina has proved to be a purple state, but not necessarily a swing state,” says Cooper, the political scientist. For the better part of two decades, Georgia, like North Carolina, had voted consistently Republican in key federal races – until 2020.
Persons: Donald Trump, Tricia Cotham, Roy Cooper, Cooper, Josh Stein, Mark Robinson, Stein, Robinson, , Chris Cooper, Kay Hagan, Barack Obama, Jon Ossoff, Raphael Warnock, Biden, Warnock, Republican George W, Bush, Gore, Charlotte don’t, Al Gore, Charlotte, “ There’s, , Mac McCorkle, Rachel Salzberg, Carolina’s Cooper, don’t, Anderson Clayton, ” Anderson, , Rob Schofield, Clayton, Ferrel Guillory, Robinson doesn’t, Dale Folwell, Mark Walker, Andy Wells, Jesse Thomas, he’s, Michael Bitzer, sidestepped Cooper’s, Robinson’s, McCorkle, ” John Hood, John William Pope, ” Hood, Trump Organizations: North, North Carolina, GOP, Democrat, Republican, Democratic Gov, Democratic, Gov, UNC, Duke, Western Carolina University, Republicans, Atlanta, Biden, Carolina’s, Trump, Georgia –, state’s, of Science, Technology, Innovation, Duke University's Sanford School of Public Policy, Democratic Party, Appalachian State University, The Washington Post, Senate, University of North, Dartmouth, Harvard, Catawba College, , Affordable, John William Pope Foundation Locations: RALEIGH, N.C, North Carolina, “ North Carolina, Carolina, Georgia, Atlanta, Carolina’s Raleigh, Durham, Wake, Raleigh, Cary, Charlotte, Mecklenburg County, Atlanta’s, Texas, Mecklenburg, North Carolina’s, Clayton, Union County, University of North Carolina, Chapel Hill
She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and a columnist for World Politics Review. First, that Prigozhin had openly challenged Russian President Vladimir Putin, and second, that countless others who had defied Putin have met untimely, violent deaths. In different ways, both Putin and Trump are key players in that phenomenon. Neither Trump nor Putin are novices at the art of conjuring major victories by going to war against the truth. Putin launched the full-scale war in Ukraine around the 8th anniversary of his 2014 invasion of Crimea.
Persons: Frida Ghitis, Yevgeny Prigozhin, Prigozhin, Vladimir Putin, Putin, Donald Trump’s, Trump, Alexander Solzhenitzyn, Robert Mueller’s, indicting Prigozhin, ” Prigozhin, Anna Politkovskaya, Facebook Putin, Boris Nemtsov, Alexei Navalny Organizations: CNN, Washington Post, Politics, Frida Ghitis CNN, Soviet Union, Kremlin, Internet Research Agency, Ukraine, Twitter, Facebook Locations: Russian, Moscow, Russia, Ukraine, Atlanta, Soviet, United States, , Crimea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHurricane Idalia hits Florida's Gulf Coast as a dangerous Category 3 stormHurricane Idalia made landfall on the west coast of Florida. The category 3 storm has pummeled the state with torrential rain and 125 miles per hour winds. The storm is being further accelerated by this week's blue super moon which could rise tides by 16 feet.
Persons: Idalia Locations: Florida
Home affordability is the worst it has been since 1984
  + stars: | 2023-08-24 | by ( Anna Bahney | ) edition.cnn.com   time to read: +5 min
Washington, DC CNN —Buying a house requires a much bigger slice of people’s income now — making this the most unaffordable housing market since 1984, by one measure. The number of cost-burdened renters increased by 1.2 million, to a record 21.6 million households, between 2019 and 2021. In all, 40.6 million households were housing-cost burdened in 2021, including 20.3 million who were severely burdened. Affordability picture remains grim this yearHopeful house hunters continued to face challenging affordability conditions in July as rising mortgage rates and historically low housing inventory pushed prices higher, said Edward Seiler, the Mortgage Bankers Association’s associate vice president for housing economics. “Unfortunately, given today’s lack of inventory and affordability levels, it may take years before home affordability returns to more ‘normal’ levels,” he said.
Persons: Black Knight, Knight, , , Andy Walden, Edward Seiler, Seiler, Joel Kan, Walden, ” It’s Organizations: DC CNN, Federal Reserve, Black, Joint Center for Housing Studies of Harvard University, Mortgage, Moody’s Investors Service Locations: Washington
And along the Gulf Coast, officials are now grappling with how to handle two potentially deadly disasters set to compound: a hurricane and extreme heat. Last week, the city issued an emergency declaration for extreme heat, underscoring rising concerns about widespread power outages ahead of peak hurricane season. Experts have also said that extreme heat is a silent killer and can be a major contributing factor in the overall hurricane death toll. “If Miami experienced extreme heat at the same time, portions of our community would have no relief for what could be days or weeks,” Williams told CNN. Officials there are still navigating how to properly prepare for the rapidly changing extreme weather to avoid mass casualties.
Persons: CNN — It’s, ” Anna Nguyen, , they’ve, ” Christopher Dalbom, who’s, Christiana Botic, Nikisha Williams, ” Williams, Irma pummeled, ” Thomas Muñoz, , We’ve, Pete Gomez, Hurricane Ida, Eva Marie Uzcategui, Daniella Levine Cava, Gomez, ” Gomez, Williams, , Muñoz, I’ve, ” Muñoz, Nguyen, they’re, Katrina, ” Nguyen, “ There’s Organizations: CNN, New Orleans Homeland Security, Preparedness, Tulane Center, Environmental Law, New York Times, The Miami Foundation, Miami, Houston’s Office, Emergency Management, Dade, Bloomberg, Getty, Homeless Locations: Gulf Coast, New Orleans, Miami, Dade County , New Orleans, Houston, Coast, Irma pummeled Florida, Texas, Florida, Dade County, Miami , Florida, , Orleans
Alexander SaeedyAlexander Saeedy covers credit markets, financial distress and sovereign debt for WSJ Pro Bankruptcy and The Wall Street Journal. He specializes in investigating and reporting on the finances of companies and countries who are struggling to pay their bills or facing unprecedented financial pressure. His stories have led him to investigate far-flung corners of financial markets, where he has written about collapsed cryptocurrency companies, emerging-market economies pummeled by global inflation, and multibillion-dollar deals gone wrong on Wall Street. Alex graduated with cum laude honors from Yale University in 2015 with a bachelor’s degree and master’s degree in history, with a concentration in modern economic history. He relocated to New York in 2018, and before joining the Journal, he covered distressed debt, leveraged finance and real estate in New York for Reorg Research and S&P's LCD.
Persons: Alexander Saeedy Alexander Saeedy, Alex Organizations: Pro, Street, Yale University, Overseas Press Club, Reuters News, Atlantic, Foreign Affairs, Reorg Research Locations: Brussels, New York
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