From Breakingviews - California floods strike at planners’ blind spots
Flooding along the state’s coast is expected to cost California more than $1 billion, the Los Angeles TimesTuesday. Governor Gavin Newsom already added $202 million for flood investments to his latest budget proposal. But that cash was badly needed years ago. While the California Senate called for extra flood protection in May, the budget only set aside $246 million for risk prevention.
Municipal spending was painfully low with state and local authorities spending $48 million annually. The governmentin November that between $88 million and $108 million is needed. That figure also pales in comparison to spending on other disasters. Fire protection funding grew from $800 million in 2006 to $3.7 billion in 2022. The state’s last budget teed up $250 million for earthquake-proofing.
Natural disaster protections have historically been reactionary. Still, with extreme weather-related incidents rising, state governments would be better prepared if they consider extraordinary storms the new normal, rather than one-offs. Direct Line woes are thin end of insurance wedge
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Breakingviews - Breakingviews: Microsoft’s AI bet: heads I win, tails I also winMicrosoft is mulling a heads-I-win, tails-I-also win, AI deal. A mooted $10 billion investment, reported by Semafor, in the maker of the popular ChatGPT, could reshape Microsoft’s software business. Even if it flops, CEO Satya Nadella will slow a rival, and possibly regain much of its investment.
Baca lebih lajut »
Breakingviews - Brazil protests expose lack of U.S. risk premiumImages of thousands of supporters of former President Jair Bolsonaro storming Brazil’s Congress, Supreme Court and presidential palace on Sunday made for uncomfortable viewing in the United States. They were disconcertingly similar to the invasion of America’s Capitol by followers of Donald Trump two years before. For investors, however, the two countries carry very different financial risks. That’s based on a mix of rationality and perhaps some complacency.
Baca lebih lajut »
Breakingviews - Taiwanese satellites signal Asia’s distrust of MuskThe self-governed island, claimed by Beijing, is courting investors as it is preparing to roll out a government-backed satellite network. The idea is to emulate the support Elon Musk’s SpaceX unit Starlink is providing Ukraine to help in its battle with Russia. Ordinarily reliant on U.S. technology for defence, Taipei has reasonable concerns about the Tesla boss’ relationship with Beijing, given the mainland market’s importance to the company. China accounts for roughly one quarter of its revenue.
Baca lebih lajut »
Breakingviews - China’s wolf warriors start 2023 in retreatBeijing has taken the mic away from combative foreign ministry spokesperson Zhao Lijian. His transfer follows other de-escalatory moves, thawing relations with major trading partners including Australia, Japan and the United States. It will still take years to undo the diplomatic and economic damage his pack of “wolf warriors” has done to Chinese interests.
Baca lebih lajut »
Breakingviews - Nickel markets brace for nail-biting threequelChinese tycoon Xiang Guangda, notorious for disrupting the London Metal Exchange’s nickel trade last year and the year before, may have done it again. His Tsingshan Holding is planning to pump up production of refined nickel by repurposing a number of copper plants, Bloomberg reported on Jan. 9. If he succeeds, his novel strategy to take advantage of higher prices could double Chinese output of the metal products.
Baca lebih lajut »
Breakingviews - First Abu Dhabi and StanChart may have second actTahnoon bin Zayed al-Nahyan may not be done with Standard Chartered . First Abu Dhabi Bank (FAB) , the $50 billion Gulf lender that the brother of the United Arab Emirates’ president chairs, last week said it had considered a bid for the $23 billion UK-listed bank. With StanChart shares still above their pre-speculation level it’s not impossible FAB, 38% owned by state investment fund Mubadala, tries again.
Baca lebih lajut »