September 3, 2005 |
Economic losses from Hurricane Katrina are likely to reach $100 billion, an insurance consulting firm estimated Friday, which would make it the costliest natural disaster in U.S. history. Insurance will cover only a fraction of the losses, according to Risk Management Solutions of Newark, Calif. It estimated insured losses at $20 billion to $35 billion, up from initial projections of $10 billion to $25 billion.
January 14, 2012 |
Standard & Poor's stripped France of its coveted AAA credit rating and downgraded eight other Eurozone countries in a sign the continent's debt crisis has a way to go before being resolved. The action, announced after U.S. markets closed Friday, was somewhat expected since S&P warned in December that it might slash the ratings. Investors already had priced in the downgrades, for the most part — major global stock indexes suffered only moderate declines, and French bond yields went largely unaffected.
April 13, 2003 |
Everybody from White House officials to lawmakers to corporate leaders is focused on whether economic development can be spurred and democracy installed in Iraq. While that war-torn land occupies so much attention, countries far closer and arguably more important to the United States are suffering decline and neglect. Conditions are bleak for Latin America. Unemployment is rising. Wages and living standards are falling.