Damages from Ian are expected to range from $60 billion to $70 billion given the latest forecasts, according to Chuck Watson, a disaster modeler with Enki Research. That would make Ian the sixth-costliest US hurricane, below Ida’s $78.7 billion in 2021, according to data from the National Oceanic and Atmospheric Administration.
In 2019, Buffett aided Occidental Chief Executive Officer Vicki Hollub’s pursuit of Anadarko Petroleum Corp. by agreeing to invest $10 billion in Occidental at the time, a pact that included both preferred shares and warrants. This year, Buffett praised Hollub’s leadership, a sign that the billionaire investor was all-in on Occidental. That stirred up speculation … Read more
“For this to pay off over the long term, two things have to be true: first, you need to be correct about the investment thesis; and second, you need to have a good handle on liquidity,” said Mara Dobrescu, an analyst at Morningstar Inc in Paris. “Historically, Pimco has been able to do both with … Read more
“The biggest near-term risk to Chinese growth is its dynamic Covid-zero policy, which is offsetting the positive effects of Beijing’s cautious policy easing,” said Jessica Tea, senior investment specialist for Greater China equities at BNP Paribas Asset Management. “China would need to see further fiscal stimulus in order to help stabilize its GDP growth, and … Read more
“The central dilemma the Fed had was that it had two incompatible goals, an exchange-rate goal and a domestic financial stability goal, and they never understood that these were in terrible conflict,” says Liaquat Ahamed, the author of , a history of the period. Today, Ahamed says, the Fed’s dilemma is between the rates needed … Read more
“We expect market sentiment might be dampened, as more inactively traded ADSs of Chinese SOEs may follow the delisting,” Citigroup Inc. analysts including Michelle Ma wrote in note. Still, they said negative impact should be “immaterial” as only a small portion of the securities are traded in the US, they said in a report commenting … Read more
This portrait of life in 2030 would have seemed like the hopeless dream of a climate optimist just a few weeks ago. Today it’s at least a little more plausible. The Inflation Reduction Act, which just passed through the House after approval by the Senate last week, is a climate investment with no parallel in … Read more
In Europe, extreme heat and arid conditions this summer have led to water scarcity and wildfires in Italy, Spain and Portugal. It is difficult to put an exact figure on losses from those events as their effects, such as production losses after a lack of cooling water, take a while to emerge, Munich Re said. … Read more