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Florida's east coast was placed under hurricane watch Monday as Subtropical Storm Nicole moved in its direction with maximum sustained winds of 45 mph. The storm, currently 520 miles east of the northwestern Bahamas, is expected to approach Florida's east coast by Wednesday night. A hurricane watch has been issued for Florida's east coast along Volusia and Brevard counties all the way south to Hallandale Beach near Miami, according to the National Hurricane Center. There's a storm surge watch for the east coast of Georgia and Florida from the Altamaha Sound to Hallandale Beach. A tropical storm watch for the northwestern Bahamas was upgraded to a hurricane watch Monday.

☆ Florida’s East Coast Braces for Possible Hurricane by Midweek
▼ + stars: | 2022-11-07 | by ( Jon Kamp | ) www.wsj.com time to read: 1 min

Ron DeSantis told Floridians to be prepared for the possibility of a tropical storm or hurricane later this week. A weather system brewing in the Atlantic Ocean north of Puerto Rico may hit Florida’s east coast as a tropical storm or hurricane later this week, the National Hurricane Center said Sunday. The low-pressure area could become a tropical or subtropical storm by Sunday night or early Monday, the hurricane center said. The system is forecast to approach parts of the Bahamas and coastal Florida at or near hurricane strength on Wednesday and Thursday, about six weeks after Hurricane Ian made landfall and devastated parts of southwest Florida.

Nicole became a Category 1 hurricane on Wednesday evening as the storm made landfall on Great Bahama Island. It is expected to remain a hurricane as it approaches Florida, according to forecasters at the National Hurricane Center. By The New York TimesThe National Hurricane Center said that areas along the Florida, Georgia and South Carolina coastlines could see life-threatening storm surge. Storm surge is an abnormal rise of water caused by strong winds from a storm pushing water toward the shore. Potential storm surge flooding 1 3 6 9+ feet The New York Times; storm surge flooding prediction by NOAA as of 10:30 p.m. Eastern on Nov. 9.

☆ Buffett's Berkshire loses money as stocks, Hurricane Ian offset rising demand
▼ + stars: | 2022-11-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +5 min

Nov 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate's businesses. Berkshire also bought back more of its own stock but was cautious, repurchasing $1.05 billion, similar to the second quarter. Berkshire also said rising costs from fuel and accidents hurt respective results at two of its best-known businesses, the BNSF railroad and Geico auto insurer. Results included $10.45 billion of losses from investments and derivatives, as the stock prices of many large Berkshire investments other than Apple Inc (AAPL.O) fell. Results improved despite a $2.7 billion after-tax loss from Ian, a strong Category 4 hurricane that slammed into Florida on Sept. 28.

☆ Buffett's Berkshire loses money as stocks, Hurricane Ian offset higher demand
▼ + stars: | 2022-11-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

Nov 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate's businesses. It also bought back more of its own stock but was cautious, repurchasing $1.05 billion, similar to the second quarter. It also said rising costs hurt results at two of its best-known businesses, the BNSF railroad and Geico auto insurer. That helped offset a $2.7 billion after-tax loss from Ian, a strong Category 4 hurricane that slammed into Florida on Sept. 28. Net results included $10.45 billion of losses from investments and derivatives, as the stock prices of many large Berkshire investments other than Apple Inc (AAPL.O) fell.

☆ Berkshire Hathaway posts quarterly loss as stocks, Hurricane Ian weigh
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +3 min

Nov 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday posted a third-quarter loss, as falling stock investments and a big loss from Hurricane Ian offset improvement in many of its industrial businesses. Berkshire posted a quarterly net loss of $2.69 billion, or $1,832 per Class A share, compared with a profit of $10.34 billion, or $6,882 per share, a year earlier. Geico, meanwhile, suffered its fifth straight quarterly underwriting loss, reflecting "significant cost inflation" from damages claims, used car prices and shortages of car parts. Net results included $10.45 billion of losses from investments and derivatives, as the stock prices of many large Berkshire investments fell. This causes large quarterly swings in results that Buffett says are usually meaningless.

☆ U.S. job growth seen smallest in nearly two years in October, unemployment rate up
▼ + stars: | 2022-11-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"The labor market is basically OK, but it does seem to be slowing," said Guy Berger, principal economist at LinkedInin San Francisco. "The Fed is going to try to thread the needle where they slow down the labor market enough to put downward pressure on wages and inflation, without causing a recession." Still, the labor market remains tight, with 1.9 job openings per unemployed person at the end of September. Stripping out any distortions from the weather and calendar quirk, wage growth is cooling. "We believe we've seen wage growth peak," said Michelle Green, principal economist at Prevedere in Columbus, Ohio.

☆ U.S. job growth beats expectations in October, but cracks emerging
▼ + stars: | 2022-11-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"The report to us looks like payroll jobs growth will falter in coming months as companies batten down the hatches as the Fed continues to take away the economy's punch." The survey of establishments showed nonfarm payrolls increased 261,000 last month. Still, the labor market remains tight, with 1.9 job openings per unemployed person at the end of September. The increase in the unemployment rate from 3.5% September reflected a 328,000 decline in household employment. "The hope is that the labor market is merely returning to a more normal pace, rather than sitting dead in the water."

☆ It's time to score a deal in these 10 popular Sun Belt metros like Austin, Texas, and Naples, Florida, where prices have plummeted more than 10% since spring
▼ + stars: | 2022-11-04 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +2 min

Here are 10 Sun Belt cities that have seen home prices drop by more than 10% since May or June. For prospective homebuyers who've been waiting for prices to come off the boil, their time to strike may already be here. It's one ray of hope for buyers in cities including Austin, Texas, New Orleans, Louisiana, and Naples, Florida. But in a few places, these prices have plummeted so much that they've almost completely offset the 10-month surge in mortgage rates. In May, the median Reno home price peaked at $570,000 and the average rate for a 30-year mortgage was around 5.23%.

☆ Casey DeSantis, Florida's 'co-governor': Rivals, friends, and former colleagues say she's the secret behind husband Ron DeSantis' meteoric rise
▼ + stars: | 2022-11-04 | by ( Lyz Lenz | Kimberly Leonard | ) www.businessinsider.com time to read: +29 min

Florida's first lady, Casey DeSantis, is a close confidant to her powerful husband, several people told Insider. He added, "We would not see Ron DeSantis outside of press conferences if he did not have a wife and kids." Ron DeSantis began clawing his way into the national spotlight in 2017 as a member of the US House of Representatives. She smiled wryly and said: "Everyone knows my husband, Ron DeSantis, is endorsed by President Trump, but he's also an amazing dad. "Ron DeSantis would be a very good candidate for the St. Johns county commission if he did not have Casey DeSantis in his life," Schorsch said.

☆ U.S. labor market unwavering despite stiff interest rates hikes
▼ + stars: | 2022-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

But annual revisions to the data showed productivity much stronger in 2020 and 2021 than previously reported. Unit labor costs - the price of labor per single unit of output - increased at a 3.5% rate after accelerating at a pace of 8.9% in the second quarter. Unit labor costs advanced at a 6.1% rate from a year ago. Growth in unit labor costs was much slower than previously estimated in 2020 and 2021. Labor costs"Both productivity growth and labor cost growth may be understated," said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.

☆ Cuba and U.S. spar over U.N. resolution calling to end embargo
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

HAVANA, Nov 3 (Reuters) - U.S. President Joe Biden's administration on Thursday voted against a U.N. General Assembly resolution calling for an end to the U.S. economic embargo on Cuba, leaving relations frosty between the two longtime rivals. The non-binding resolution was approved by 185 countries and opposed only by the United States and Israel, with Brazil and Ukraine abstaining. It was the 30th time the United Nations has voted to end the embargo. "Cuba does not need lessons on democracy and human rights, much less from the United States," Gala said. "If the United States government was really interested in the welfare, human rights and self-determination of Cubans, it could lift the blockade."

☆ Axa 9-month revenue up 2%, faces 400 mln euro hit from Hurricane Ian
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

The French insurer - Europe's second-biggest after Germany's Allianz - said its nine-month revenue rose 2% on a comparable basis to 78.4 billion euros from 76 billion in the year-earlier period. Property and casualty revenue was up 3% to 40.7 billion euros, while health revenue was up 14% to 13.1 billion. Axa said that Hurricane Ian, which devastated the coastlines of Florida in September, was expected to be one of the costliest hurricanes to hit the United States in recent years. More than 80 people died in Hurricane Ian, which is likely to be among the worst in U.S. history, President Joe Biden has said. Axa also confirmed it was taking part in a capital increase of Italian bank Monte dei Paschi di Siena (MPS) (BMPS.MI) for an amount that could reach 200 million euros.

☆ Biden came to Florida to help Democratic underdogs, but barely mentioned DeSantis, one of his most vocal critics
▼ + stars: | 2022-11-02 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Ron DeSantis, who frequently criticizes him. Ron DeSantis while campaigning in Florida on Tuesday evening, one week out from Election Day. Earlier in the day, however, Biden called DeSantis "Donald Trump incarnate" during a fundraiser in Golden Beach, Florida. Ron DeSantis, a Republican, in November. Taking the stage on Tuesday, Crist said "Ron DeSantis wants to do to America what he has done to Florida."

☆ Insurer AIG profit slumps on hurricane costs, lower investment returns
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - Insurer American International Group Inc (AIG.N) on Tuesday reported a more than 39% decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian pushed up catastrophe bills. read moreAIG - one of the world's biggest commercial insurers - reported $600 million of catastrophe losses in the quarter, out of which about $450 million was attributable to Hurricane Ian, the insurer said. Total consolidated net investment income fell 28% to $2.7 billion, hurt mainly by lower alternative investment income. The metric excludes catastrophe losses, and a ratio below 100 signifies that the insurer earns more from premiums than it pays out in claims. read moreReporting by Noor Zainab Hussain in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Biden heads to Florida to campaign against DeSantis with midterms looming
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 1 (Reuters) - President Joe Biden will visit Florida on Tuesday, seven days ahead of U.S. midterm elections, to contrast Democratic healthcare plans to those of Republicans while taking on potential 2024 rival Ron DeSantis during a campaign event. In his first political event in a state he lost in 2020, Biden is expected to take aim at Florida Republican Governor DeSantis during a campaign event for Democratic candidate for governor Charlie Crist, and then attend a fundraiser. The president is expected to offer his most sharply targeted attack yet on DeSantis, administration officials told Reuters. Biden and DeSantis have clashed over multiple issues including COVID-19 vaccines, abortion and LGBT rights. Biden met DeSantis last month during a trip to the state to assess devastation from Hurricane Ian.

☆ Prudential Suffers Big Loss on Rising Rates
▼ + stars: | 2022-11-01 | by ( Leslie Scism | ) www.wsj.com time to read: 1 min

Rising interest rates and volatile stock markets battered insurer Prudential Financial Inc. in the third quarter, while American International Group Inc. was stung by claims from Hurricane Ian in Florida, the companies said. The two big insurers faced different challenges in the difficult quarter. Prudential’s so-called adjusted operating income slid 46% to $803 million from $1.49 billion, and it swung to a loss of $284 million on a net basis, from net of $1.53 billion in the year-earlier period.

☆ Will Musk break Trump and satire accounts like mine out of Twitter jail?
▼ + stars: | 2022-11-01 | by ( Kyler Geoffroy | Kyler Geoffroy Is A Freelancer Whose Writing Has Appeared On Vice | Other Publications. He Focuses On Lgbtq Politics | ) www.nbcnews.com time to read: +9 min

As Elon Musk’s takeover of Twitter begins, he must make several important decisions that will determine the future of the social media platform millions use for their newsgathering. I got involved in political satire after watching Trump fire off several conspiracy-theory-laden posts to his over 4 million followers on Truth Social daily. I got involved in political satire after watching Trump fire off several conspiracy-theory-laden posts to his over 4 million followers on Truth Social daily. “After careful review, we determined your account broke the Twitter Rules,” read the notification from Twitter Support. But political parody accounts, even bad ones like mine, should be protected on Twitter.

☆ Florida medical board votes to ban gender-affirming care for transgender minors
▼ + stars: | 2022-10-29 | by ( Jo Yurcaba | Jo Yurcaba Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +8 min

Florida’s medical board is the first in the country to pursue such a rule, but Florida is among a wave of states where officials have attempted to restrict gender-affirming medical care for transgender minors. The effort to restrict such care began in April, when DeSantis and Florida Surgeon General Joseph Ladapo issued nonbinding guidance through the Florida Health Department that sought to bar both “social gender transition” and gender-affirming medical care for minors. Accredited medical groups — including the American Medical Association, the American Academy of Pediatrics and the American Psychological Association — have supported gender-affirming care for transgender youths. The first nine attendees who spoke were in favor of restricting gender-affirming care for minors. Only one of the eight had received gender-affirming medical care as a minor.

☆ Climate Change Is Real. Markets, Not Governments, Offer the Cure. - The New York Times
▼ + stars: | 2022-10-28 | by ( Bret Stephens | Mr. Stephens Is An Opinion Columnist. Mr. Winter Is A Staff Photographer On Assignment In Opinion. | ) www.nytimes.com time to read: +32 min

worse-case, highest-carbon-emission scenario.” (The Intergovernmental Panel on Climate Change is the U.N. body that assesses climate change.) How do we weigh the risks of underreacting to climate change against the risks of overreacting to it? While he’s not an expert on climate change, he has spent decades thinking deeply about every manner of risk. That’s particularly true if climate change is akin to cancer — manageable or curable in its earlier stages, disastrous in its later ones. Maybe, I realized, in assessing my newfound concerns about climate change, my long-held beliefs might provide a solution — look to the market.

☆ Cuba is in the middle of an escalating tug-of-war between Russia, U.S.
▼ + stars: | 2022-10-27 | by ( Associated Press | ) www.nbcnews.com time to read: +8 min

It also once again thrust the Caribbean island into the middle of an escalating tug-of-war between its seaside neighbor, the United States, and ally, Russia. The sales also potentially alleviated the weight of international sanctions on Russia for its invasion of Ukraine. Until the fall of the Soviet Union in 1991, the Soviets sold Cuba oil well below market price. A double hit to its power gridPreexisting economic turmoil and blackouts came to a head this fall when Cuba’s power grid took a double hit. Increased sales to China, India and even Cuba have helped Russia ease the economic brunt of sanctions.

☆ Hurricane Ian Claims Hit Profits of Chubb
▼ + stars: | 2022-10-26 | by ( Leslie Scism | ) www.wsj.com time to read: 1 min

A restaurant in Daytona Beach Shores, Fla., damaged by Hurricane Ian, which is projected to become the nation’s second-costliest natural disaster to property insurers. Chubb posted a 56% decline in net income in the third quarter, as Hurricane Ian claims in Florida dented results, while strong pricing conditions continued to buoy its worldwide business-insurance operations. Chubb, one of the world’s biggest insurers by market capitalization and premium volume, said its premium growth continued to exceed the impact of inflation and other higher costs of claims.

☆ Beyond Catastrophe: A New Climate Reality Is Coming Into View
▼ + stars: | 2022-10-26 | by ( David Wallace-Wells | Photographs Devin Oktar Yalkin | ) www.nytimes.com time to read: +53 min

Beyond Catastrophe A New Climate Reality Is Coming Into View By David Wallace-WellsYou can never really see the future, only imagine it, then try to make sense of the new world when it arrives. (A United Nations report released this week ahead of the COP27 climate conference in Sharm el Sheikh, Egypt, confirmed that range.) A little lower is possible, with much more concerted action; a little higher, too, with slower action and bad climate luck. There were climate-change skeptics in some very conspicuous positions of global power. New emissions peaks are expected both this year and next, which means that more damage is being done to the future climate of the planet right now than at any previous point in history.

☆ One month after Hurricane Ian
▼ + stars: | 2022-10-25 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

Sheep replaced the usual traffic in central Madrid as shepherds steer hundreds of the animals through the Spanish capital to proclaim their right to ancient migration routes.

☆ Inflation worries hurt U.S. consumer confidence; house prices decelerating
▼ + stars: | 2022-10-25 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index fell to 102.5 this month from 107.8 in September. Consumers were also more inclined to buy a house, probably encouraged by a sharp slowdown in house price inflation. On a monthly basis, prices fell 0.9% in August, the second straight monthly drop. Prices fell 0.7% on a monthly basis after decreasing 0.6% in July. It was the first time since March 2011 that monthly prices posted back-to-back declines.

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