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☆ New home sales rose to a 17-month high in July
▼ + stars: | 2023-08-23 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —New home sales rose in July from the month before, beating estimates and reaching a 17-month high, as buyers continue to look to new construction as an option in the face of a historically low supply of existing homes. While new home sales have been trending higher over the past year, sales of existing homes have been down for the past few months. Sales in the Midwest surged 47.4% from a month ago and sales in the West were up 21.5% from June. Meanwhile, sales in the Northeast declined by 2.9% from last month and dropped by 6.3% in the South. “When existing homes are hard to find, new homes at the right price are a good substitute.”

Persons: Kelly Mangold, ”, George Ratiu, Odeta Kushi Organizations: DC CNN, US Department of Housing, Urban Development, Census, Real Estate Consulting, ”, Midwest, National Association of Realtors, “ Builders, Builders, First Locations: Washington, –

☆ Dollar hovers near two-month high, yen near 146 per dollar
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The U.S. dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair's speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin Organizations: U.S, The U.S, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand Locations: Tokyo, Japan, The, , Wyoming, OCBC, Singapore, U.S, tenterhooks

☆ Stock Market Today: Dow Futures Edge Higher
▼ + stars: | 2023-08-22 | by ( ) www.wsj.com time to read: 1 min

This week started with a tech-led rally, even as bond yields scaled new multiyear highs. Early trading Tuesday doesn't point to any strong conviction about where the market heads next, with stock futures inching higher and benchmark yields little changed.

☆ U.S. win mixed relay with world record as Bol falls
▼ + stars: | 2023-08-19 | by ( Mitch Phillips | ) www.reuters.com time to read: +3 min

[1/5] Athletics - World Athletics Championship - 4x400m Relay Mixed - National Athletics Centre, Budapest, Hungary - August 19, 2023 Alexis Holmes of the U.S. crosses the line to win the final as Netherlands' Femke Bol falls REUTERS/Sarah Meyssonnier Acquire Licensing RightsBUDAPEST, Aug 19 (Reuters) - The United States won a dramatic World Championship gold with a world record in the mixed 4x400 metres relay on Saturday as Femke Bol fell five metres from the line just as it looked as if she was going to bring the Netherlands home for gold. The winning time of 3:08.80 broke the Americans' own world record set in the first running of the event in 2019. By the time Bol got the baton for the last leg it looked a foregone conclusion as the 400 hurdles specialist and indoor 400m world record holder has been in stunning form in recent weeks. "I don't know what happened, I cramped towards the finish line, I was pushing, pushing, pushing," Bol said. "It was definitely tough to run against Femke Bol.

Persons: Alexis Holmes, Femke Bol, Sarah Meyssonnier, Bol, Gabby Thomas, Matthew Boling, Ryan Willie, Lieke Klaver, Holmes, Sifan Hassan, Mitch Phillips, Pritha Sarkar Organizations: National Athletics Centre, Rights, United States, Britain, U.S, Eugene, Femke, Thomson Locations: Budapest, Hungary, U.S, Netherlands, Czech Republic, Tokyo

Mortgage rates and home prices have spiked over the past couple of years, making homebuying more expensive than ever. High mortgage rates coupled with high home prices have made buying a house significantly more expensive than it's been in previous years. 5 advantages of buying a house when mortgage rates are highThere's no perfect time to buy a house. But mortgage rates are expected to drop throughout the next couple of years. According to the Mortgage Bankers Association's latest forecast, mortgage rates could drop below 5% by the end of 2024.

Persons: Freddie Mac, they're, Sarah Alvarez, You'll, Melissa Cohn, they've, Cohn, Alvarez, it's Organizations: Service, Privacy, Finance, Gallup, Census Bureau, Department of Housing, Urban, William, Mortgage Locations: Wall, Silicon

☆ Why This Company’s Financial Crisis Threatens China’s Economy
▼ + stars: | 2023-08-15 | by ( Alexandra Stevenson | More About Alexandra Stevenson | ) www.nytimes.com time to read: 1 min

Country Garden, a Chinese real estate giant, has lost billions of dollars and racked up $200 billion in unpaid bills. It’s on the hook to deliver, by one estimate, nearly one million apartments across hundreds of cities in China. In China’s housing market, there are plenty of deadbeat developers no longer paying their bills. The possible collapse of Country Garden is one to pay attention to. “One shall pick himself up from where he has fallen,” Mo Bin, Country Garden’s president, said last week, pledging to “spare no effort.”

Persons: ” Mo, ” Locations: China

☆ Sun smacks Earth with 2 powerful, back-to-back X-class solar flares, knocking out radio signals across the US
▼ + stars: | 2023-08-11 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +3 min

The sun struck Earth with two powerful X-class solar flares in the past few days. So when high-energy solar radiation strikes, it can cause those radio signals to degrade. But a strong solar maximum can cause extreme space weather events, including back-to-back X-class solar flares like what recently occurred. This year's X-class solar flares have been on the lower end of the intensity spectrum, with the biggest, an X2.2, occurring in February. While this year's flares have routinely affected radio signals, a solar flare of X28 — like the one detected in 2003 — would be incredibly destructive for Earth's technology.

Persons: We've, Gizmodo, Keith Strong, Strong, it's, Space.com Organizations: Service, NASA Locations: Canada, Wall, Silicon

☆ Strong services costs lift US producer prices; inflation expectations dip
▼ + stars: | 2023-08-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Some said the downgrade to June's data meant the rise in the PPI last month was in line with expectations. In the 12 months through July, the PPI increased 0.8% after gaining 0.2% in June, boosted by a lower base of comparison last year. Excluding the volatile food and energy components, the so-called core goods prices were unchanged last month after falling 0.2% in June. In the 12 months through July, the so-called core PPI increased 2.7%, matching June's rise. As with all the July inflation data, the pick-up in the annual core PCE rate is due to unfavorable base effects.

Persons: Bill Adams, Will Compernolle, Eugenio Aleman, Raymond James, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: PPI, Labor Department, Federal Reserve, Comerica Bank, Reuters, Reuters Graphics, Treasury, Consumers, University of, CPI, Fed, Thomson Locations: August WASHINGTON, Dallas, U.S, New York, disinflation

☆ Euro zone consumers expect lower inflation, sluggish housing prices - ECB poll
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File PhotoFRANKFURT, Aug 8 (Reuters) - Euro zone consumers expect inflation to keep slowing in the next months and years but remain pessimistic about their purchasing power and house prices, a European Central Bank survey showed on Tuesday. Consumers also cut their expectations for inflation three years ahead to 2.3% from 2.5% in May - inching closer to the ECB's 2% target. The survey also showed that consumers continued to expect their income to grow much more slowly - at 1.2% - than inflation and spending over the next 12 months, implying an expected lowering of living standards and savings. An article accompanying the survey showed that households' perceptions about housing have deteriorated markedly since mid-2021 due to expectations of higher mortgage rates and inflation as well as lower economic growth.

Persons: Heiko Becker, Francesco Canepa, Andrew Heavens Organizations: European Central Bank, REUTERS, Thomson Locations: Frankfurt, Germany

☆ A Canadian cannabis company may soon own your favorite craft beer brands
▼ + stars: | 2023-08-08 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Canadian cannabis company Tilray is one of the biggest craft beer sellers in the US. On Monday, Anheuser-Busch said it was selling 8 craft beer brands to Tilray. Bud Light parent company Anheuser-Busch said on Monday that it was selling off eight of its craft beer brands to a Canadian cannabis company that's been inching into the craft beer space for quite some time now. It would make Tilray the 5th-largest craft beer company in the US, up from its 9th place ranking today, according to analysts from Jefferies. TD Cowen analysts said that craft beer sales declined 6% in 2021 and 9% last year.

Persons: Busch, Bud Light, Bud, that's, Jefferies, TD Cowen, Rafael Marchante, influencer Dylan Mulvaney Organizations: Anheuser, Service, Bud Light, Brands, Breckenridge Brewery, Point Brewing Company, Brewing Company, Redhook, Widmer Brothers Brewing, Cider Company, HiBall Energy, Jefferies, Montauk Brewing Company, SweetWater Brewing Company, Breckenridge, Reuters, US, Busch, Wall, Tilray Locations: Wall, Silicon, Canada, New York, Breckenridge Distillery, Cantanhede, Portugal, Washington

☆ Chandrayaan-3: Indian spacecraft enters lunar orbit in step closer to moon rover soft landing
▼ + stars: | 2023-08-07 | by ( Rhea Mogul | ) edition.cnn.com time to read: +2 min

CNN —India moved one step closer to executing a controlled landing on the moon after its Chandrayaan-3 spacecraft entered lunar orbit over the weekend, inching toward the surface’s unexplored South Pole. Developed by the Indian Space Research Organization (ISRO), Chandrayaan-3 is comprised of a lander, propulsion module and rover. Its first lunar probe, the Chandrayaan-1, orbited the moon and was then deliberately crash-landed onto the lunar surface in 2008. Eleven years later, the Chandrayaan-2 successfully entered lunar orbit but its rover crash-landed on the moon’s surface. “Chandrayaan-3 scripts a new chapter in India’s space odyssey,” Modi tweeted shortly after it took off last month.

Persons: “, Satish, Space, It’s, Modi, ” Modi Organizations: CNN, Indian Space Research Organization, Soviet, ISRO, Soviet Union Locations: India, United States, Soviet Union, China, Sriharikota, Andhra Pradesh

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Earnings are also in focus, with Apple (AAPL.O) and Amazon.com (AMZN.O) due to report quarterly results after market close. Declining issues outnumbered advancers for a 2.08-to-1 ratio on the NYSE and a 1.28-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and four new lows, while the Nasdaq recorded 37 new highs and 63 new lows. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Quincy Krosby, Thomas Barkin, advancers, Shubham Batra, Bansari, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Moderna, PayPal, Qualcomm, Dow, Nasdaq, LPL, Richmond Federal, Dow Jones, Apple, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: New York City, U.S, Richmond, Bengaluru

☆ Cloudflare raises full-year forecasts as tech spending bounces back
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Software firm Cloudflare (NET.N) raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up nearly 6% in extended trading. Cloudflare now sees 2023 revenue in the range $1.283 billion to $1.287 billion, compared with its earlier forecast of $1.280 billion to $1.284 billion. It also raised its adjusted per-share profit forecast by more than 2 cents. San Francisco, California-based Cloudflare sells tools and software, grouped as content delivery network (CDN) services, that help companies manage their applications on the internet. The company forecast third-quarter revenue of between $330 million and $331 million, while analysts expect $329.4 million.

Persons: Cloudflare, Refinitiv, Yuvraj Malik, Pooja Desai Organizations: Companies, Thomson Locations: San Francisco , California, Bengaluru

☆ Wall Street reversal: More and more economists are changing their minds and declaring US recession fears dead
▼ + stars: | 2023-08-02 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

It joins the Federal Reserve and other economists in casting recession concerns to the side. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. After much hemming and hawing from economists and Wall Street, Bank of America is the latest to revise its predictions — and says a severe economic downturn isn't likely. In doing so, BofA is joining a rising chorus saying that fears of a recession were unfounded. The most recent inflation data were quite encouraging."

Persons: hemming, hawing, Neil Dutta, Goldman Sachs, Jan Hatzius, Jerome Powell, Powell, Janet Yellen Organizations: of America, Federal Reserve, Service, Wall, Bank of America, Bloomberg, Federal, Market Committee, Fitch Locations: Wall, Silicon, American

☆ Amid Signs of a Covid Uptick, Researchers Brace for the ‘New Normal’
▼ + stars: | 2023-08-02 | by ( Apoorva Mandavilli | More About Apoorva Mandavilli | ) www.nytimes.com time to read: +1 min

Echoing patterns in prior years, coronavirus infections are slowly ticking up in parts of the country, the harbinger of a possible fall and winter wave. But the numbers remain low for now, and are unlikely to reach the horrific highs seen in previous winters, experts said in interviews. Wastewater analyses point to the highest increases in the Northeast and the South, followed by the West and Midwest. After hitting a trough at the end of June, hospitalizations are inching upward again, but fortunately very slowly. Test positivity has risen to 7.6 percent, a level last seen in November 2021, and that summer, just before the Delta variant swept the nation.

Persons: hospitalizations Organizations: West Locations: Northeast, Midwest

President Biden is heading into the 2024 presidential contest on firmer footing than a year ago, with his approval rating inching upward and once-doubtful Democrats falling into line behind his re-election bid, according to a New York Times/Siena College poll. Mr. Biden appears to have escaped the political danger zone he resided in last year, when nearly two-thirds of his party wanted a different nominee. Now, Democrats have broadly accepted him as their standard-bearer, even if half would prefer someone else. Perhaps most worryingly for Democrats, the poll found Mr. Biden in a neck-and-neck race with former President Donald J. Trump, who held a commanding lead among likely Republican primary voters even as he faces two criminal indictments and more potential charges on the horizon. Mr. Biden and Mr. Trump were tied at 43 percent apiece in a hypothetical rematch in 2024, according to the poll.

Persons: Biden, Mr, Donald J, Trump Organizations: New York Times, Siena, Democrats, Republican

☆ 3 signs the US economy is set to zoom past growth expectations
▼ + stars: | 2023-07-26 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

On Thursday, new GDP data will show just how much the US economy grew between April and June. The US has also been experiencing a factory boom, with construction spending on US manufacturing nearly doubling from May 2022 to May 2023. Manufacturing employment recently hit its highest level since 2008, and since Biden took office, around 800,000 manufacturing jobs were added. In the first two quarters of this year, applications to start a business likely to hire employees grew 7% year-over-year. Sectors leading likely employer business applications include accommodation and food services, construction, health care and social assistance, and retail trade.

Persons: Morgan Stanley, Joe, Biden, Ellen Zentner, Julia Coronado Organizations: Infrastructure Investment, Jobs, Service, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Philadelphia, Congressional, Investments, Economic, Sectors, National Association for Business Economics, Conference, CPI, Federal Locations: Wall, Silicon, —, Philadelphia, frastructure, Mississippi, North Carolina

☆ Opinion: Don’t expect history to be kind to Netanyahu
▼ + stars: | 2023-07-25 | by ( Frida Ghitis | ) edition.cnn.com time to read: +8 min

CNN —There is no question that history books will dedicate considerable space to the impact that Israeli Prime Minister Benjamin Netanyahu had on the fate of his embattled nation. But in Israel’s parliamentary system, the prime minister controls not just the executive but also the legislature through his majority coalition in parliament. Without judiciary oversight, the prime minister and his bloc have little to stop them as they push their agenda. Frida GhitisTo become prime minister, Netanyahu had to enlist the support of enough parties to have 61 votes out of the 120 seats in the Knesset. When asked whom they would prefer as prime minister, just 34% said Netanyahu over the center-right Benny Gantz, with opposition leader Yair Lapid also beating the Israeli leader.

Persons: Frida Ghitis, Benjamin Netanyahu, Netanyahu, “ Bibi, ”, –, it’s, Itamar Ben Gvir, Bezalel Smotrich, Benny Gantz, Yair Lapid, Joe Biden, Ron DeSantis, Biden, Facebook Netanyahu, Donald Trump’s politicization, toying Organizations: CNN, Washington Post, Politics, Frida Ghitis CNN, West Bank, Florida Gov, Twitter, Facebook, Israel Locations: Israel’s, United States, Tel Aviv, Jerusalem, Israel

☆ The US economy is in for rollercoaster inflation and could be headed for an ultra-rare 'full employment recession,' BlackRock says
▼ + stars: | 2023-07-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The economy is in for rollercoaster inflation that could hurt corporate profits, BlackRock strategists said. Markets are in a new regime of volatility that could bring on a "full employment recession," they added. But at the same time, the labor market remains tight, which is driving wage inflation as workers push for higher pay. A rollercoaster trajectory over the next quarters before inflation likely settles near 3% – well above the Fed's 2% target," strategists said. That rollercoaster could potentially spell bad news for stocks: High inflation can weather corporate profits by increasing costs for firms.

Organizations: BlackRock, Service, New, Fed Locations: Wall, Silicon, downturns, Europe

☆ Netflix’s cash gun starts to whir
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 19 (Reuters Breakingviews) - Netflix (NFLX.O) is putting out some programming worthy of more eyeballs. But its forecast on free cash flow – once a horror flick– shows that the business is only getting stronger. The revenue outlook for the third quarter of $8.5 billion is below analysts’ estimates of $8.7 billion, according to Refinitiv. Netflix raised its outlook for free cash flow this year to at least $5 billion from approximately $3.5 billion. At a time when high interest rates make greenbacks more expensive, and competitors Walt Disney (DIS.N) and Warner Bros Discovery (WBD.O) are squirming, Netflix’s cash story is one to watch.

Persons: Reed Hastings, Walt Disney, Jennifer Saba, Gucci, Xavier Niel’s, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Netflix, Hollywood, Warner Bros Discovery, Twitter, Xavier Niel’s GAM, Commonwealth Games, Thomson

☆ It's a 'grave mistake' for Biden to resume student-loan payments without first giving borrowers debt relief, 179 advocacy groups say
▼ + stars: | 2023-07-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan payments are set to resume in October without broad debt relief. Nearly 200 organizations called on Biden to deliver relief before payments resume. Biden has started the process to enact debt relief again, but it could take months. But payments are still scheduled to resume in October, and the advocacy groups do not want borrowers to foot another bill without any relief. However, interest would still accrue during that time, so borrowers' balances would still grow — and even more so without any broad debt relief.

Persons: Biden, NAACP —, Joe Biden, —, Education James Kvaal, Virginia Foxx Organizations: Service, Protection Center, NAACP, Education Department, Higher, Administration, —, Education, Republican Locations: Wall, Silicon

☆ How America fell out of love with ice cream
▼ + stars: | 2023-07-16 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +9 min

Ice cream is “the ultimate comfort food.”Drinkers swapped a pint for a scoop, and for ice cream makers, Prohibition was a boon. “In fact they say that the ice cream business is bound to increase in volume from year to year as more people are using ice cream since the coming in of nation-wide prohibition and the going out of the saloon.”The interest in ice cream continued in World War II, buoyed by the government’s use of the frozen dessert to help boost morale. Margaret Bourke-White/The LIFE Picture Collection/Shutterstock“We built pop-up ice cream factories on the front lines, delivered individual ice cream cartons to foxholes and spent more than a million dollars on a floating ice cream barge that patrolled the Pacific delivering ice cream,” Siegel said. Scoops of Falooda ice cream are placed on top Blueberry Lavender ice cream at Pints of Joy in Sunnyvale, California. Today, she teaches aspiring ice cream entrepreneurs how to make ice cream.

Persons: Earl Leaf, Michael Ochs, Baskin Robbins, —, Matt Siegel, ” Siegel, Yuengling, ”, Margaret Bourke, “, Siegel, John Robbins, Robbins, Burt Baskin, Robbins ’, ” Robbins, Robbins “, Deepak Chopra, Marianne Williamson, Lucas Fuess, Richard B, Levine, Levine Roberts, Fuess, John Crawford, “ There’s, Circana, Aric Crabb, Talenti, Earl Grey, ” Crawford, Bryan Olin Dozier, Deborah Lee Organizations: New, New York CNN, US Department of Agriculture, Michael Ochs Archives, Food, Anheuser, Busch, Manufacturers, Cream, Baskin, New York Times, Rabobank, MediaNews, East Bay Times Locations: New York, NY, American, USS Maryland, Chicago , Illinois, Circana, Joy, Sunnyvale , California, Van Leeuwen, North Carolina

☆ Morning Bid: Relief over US inflation keeps Asia upbeat
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. Indeed, Friday's rise in the yen put it within striking distance of its converging 100-day and 200-day moving averages near 137.00 to the dollar. The Reserve Bank of Australia was also in the spotlight in Asia, with the much-anticipated announcement of its next governor. The rest of the day is light on economic data with euro zone May trade, U.S. export and import prices and University of Michigan consumer sentiment the main releases. But it's a bumper day for bank earnings as JPMorgan Chase (JPM.N), Citigroup (C.N), Wells Fargo (WFC.N) and BlackRock (BLK.N) are all due to report second-quarter results.

Persons: Sarah Silbiger, Sonali Desai, Michele Bullock, JPMorgan Chase, Luis de Guindos, Edmund Klamann Organizations: El Progreso Market, Washington , D.C, REUTERS, Treasury, Bank of, People's Bank of China, The Reserve Bank of Australia, University of Michigan, JPMorgan, Citigroup, BlackRock, Hollywood, Central Bank, JPMorgan Chase, Thomson Locations: Mount Pleasant, Washington ,, Asia, Japan Asia, U.S, Wells Fargo, Brussels U.S

☆ Mortgage rates jump higher, closing in on 7%
▼ + stars: | 2023-07-13 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —US mortgage rates climbed higher this week, inching closer to 7% and reaching their highest level since November. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Mortgage rates have remained over 5% for all but one week during the past year and even went as high as 7.08%, last reached in November. “The strong job market will continue to drive demand in the economy, fuel price increases and contribute to higher inflation,” Xu said. Strong labor market encourages some buyersEven as the average mortgage rate pushed toward 7%, reaching its highest level this year last week, mortgage applications still ticked up a bit, according to the Mortgage Bankers Association.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Jiayi Xu, ” Xu, Bob Broeksmit, Xu, “ Organizations: DC CNN, Mortgage, Association Locations: Washington

☆ Antarctic sea ice has been at record low levels for months — here's what that means
▼ + stars: | 2023-07-11 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Xinhua News Agency | Xinhua News Agency | Getty ImagesAntarctic sea ice has been at record low levels for the past few months. What the record low sea ice in the Antarctic meansZoom In Icon Arrows pointing outwards The blue line sows the amount of sea ice in the Antarctic in 2023. Why the sea ice levels in the Arctic are more damningThe Arctic is an ocean covered by a layer of sea ice and surrounded by land. So the change below the surface in the Arctic sea ice is much more pronounced than the change in Antarctic sea ice," Meier told CNBC. While the sea ice does not directly contribute to sea level rise, melting land ice does.

Persons: That's, it's, Walt Meier, Howard Diamond, Diamond, Will Hobbs, Hobbs, Meier, Kerem Yucel, that's, Notz Organizations: Antarctic, Xinhua News Agency, Getty, Data, University of Colorado, CNBC, U.S . National, Resources Laboratory, University of Colorado Boulder, Boulder Cooperative Institute for Research, Environmental Sciences, Australian Antarctic Program, NASA Gulfstream, University of Texas, Afp, NOAA Locations: Southern Ocean, Antarctica, New York City

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