News Worms
News Worms


Harvey, Irma could ding U.S. economy for combined $290 billion

Harvey, Irma could ding U.S. economy for combined $290 billion

Myers, founder, president and chairman of AccuWeather, thinks even that figure could be conservative and estimates the combined clean-up bill for Harvey and Irma could reach $290 billion. It comes just 16 days after Hurricane Harvey roared into Rockport, Texas, with maximum sustained winds also at 130 miles per hour.

Maybe the least covered story is that the Red Cross, one of the leading fundraisers for Hurricane Harvey relief, has such a bad record in providing accountability (i.e., where'd the money go?) from past disaster relief efforts that groups in Houston are organizing on their own to meet needs following the storm. Irma is the strongest Atlantic storm on record, and the two are the only pair of Atlantic hurricanes to record wind speeds of more than 150 miles per hour at the same time. The country averaged fewer than six big-dollar storms, flood, fires and freezes a year between 1980 and 2016, according to the National Oceanic and Atmospheric Administration. At its peak, Harvey shut 27 percent of USA processing capacity. The destruction caused by the Hurricane Harvey is nearly twice more than Irma's.

Trump also said he plans to ask Congress to expedite tax reform efforts in the wake of damages caused by the hurricane. Besides, other coastal locations also face threats.

There were at least five deaths in Florida while Irma advanced through the state causing pain and destruction.

The winds for a Category 4 hurricane on the Saffir-Simpson Hurricane Wind Scale range from 130 miles per hour to 156 miles per hour. Hurricane Katrina, which overwhelmed much of New Orleans, brought between $108 and $250 billion in damage to the region. Although the unusually large storm unleashed its fury on the entire peninsula, its centre moved up the state's west coast, striking the mainland with the greatest force when it made landfall at Marco Island, near the city of Naples.

With tourism accounting for as many as 1.4mn jobs, 112mn annual visits and $109bn of income to the United States, a significant amount of this is expected to be lost following the effects of the Hurricane. In short, the word "natural disaster" doesn't entirely cover how it is human beings have chose to put more and more people in harm's way.

follow

editors' picks

September 13, 2017
Hope Hicks Appointed White House Communications Director
She became the interim communications director after Anthony Scaramucci was ousted from the job in July. Scaramucci, who took the position in July, was sacked less than two weeks later.

September 13, 2017
Millions disconnected from electricity in Florida, Georgia
Some 6.3 million people were instructed to evacuate in Florida alone, according to The Telegraph . Irma is now over Georgia, South Carolina, North Carolina, Alabama and Tennessee.

September 12, 2017
Analyst Buzz: Teva Pharmaceutical Industries Limited (TEVA)
Teva's situation worsened in the months since, as the company lowered its profit guidance and slashed its dividend. The business had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $5.72 billion.

September 12, 2017
Stocks climb as concerns ease over North Korea, Irma
Royal Caribbean Cruises jumped $4.02, or 3.4 percent, to $121.47 and American Airlines gained $1.55, or 3.4 percent, to $45.15. USA crude was trading 36 cents firmer at 47.84 dollars a barrel, while Brent rose 22 cents to 56.00 dollars.

September 12, 2017
Weekend box office: IT makes over 10 times more than second place
But while "It" is the most exciting new release of the weekend, it is not topping the worldwide box office charts. That's a hell of a lot better than some of the other new releases that came through this weekend, though.

September 12, 2017
Jose Mourinho downplays Man United UCL hopes, focused on topping group
They will be replaced by Lindelof and Smalling, while Zlatan Ibrahimovic and Marcos Rojo remain absent through knee injuries. Basel are making their eighth Champions League appearance, that's six more than any other Swiss club (Grasshopper, 2).

September 12, 2017
Latest Equifax Bungle: Predictable Credit Freeze PINs
Several state attorneys general have also said they would investigate, which could result in fines at the state level. The U.S. government can still see someone's credit during a freeze, but creditors can't, reports Bankrate.com.

September 12, 2017
School officials arrested over seven-year-old boy's murder
According to reports, the toilet is shared by students, as well as bus drivers, conductors and class four employees of the school. The boy's father, Barun Chandra Thakur, approached the Supreme Court , seeking a CBI probe into the murder.

September 12, 2017
Miss America Contestants Take on Trump Over Paris Climate Accord, Charlottesville
Mund, 23, was one of 51 contestants in the pageant, representing the 50 United States and the District of Columbia. Cara Mund will be on tour every month to promote her advocacy, which is the Make A Wish - Passion with Fashion.

October 27, 2016
World Series Stakes are Now at an All-Time High, Thanks to the Cubs and Indians World Series
Francona, who bagged the job, soon took them to their first championship victory in 86 years, then repeated the same in 2007. Additionally, six Stanley Cups were bagged by the Blackhawks here and the Bears had won the Super Bowl championship in 1985.