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State of emergency declared as atmospheric river brings ‘potentially historic’ flood threat

State of emergency declared as atmospheric river brings ‘potentially historic’ flood threat

Waves crash over a breakwater in Alameda, Calif., on Sunday. (Noah Berger/AP) Scientists are saying that climate change and El Niño, a climate pattern caused by the warming of the Pacific Ocean, are the culprits for the extreme weather that California is experiencing this winter. Here’s what USA Today reported: Multiple weather phenomena are conspiring to make these storms particularly damaging. Warm water provides energy to storms, and record-high ocean water temperatures, likely from… Source link

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Commercial real estate a ‘manageable’ problem but some banks will close: Powell

Commercial real estate a ‘manageable’ problem but some banks will close: Powell

Federal Reserve chair Jerome Powell is predicting that more small banks will likely close or merge due to commercial real estate weaknesses, but that the problem is ultimately “manageable.” The central bank official made this point during a 60 Minutes interview that aired Sunday night. It was Powell’s first comments about the industry following a new bout of turmoil cascading through the stocks of many regional banks. “I don’t think there’s much risk of a repeat of 2008,” Powell said,… Source link

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Why you must now be concerned about the hot Magnificent 7 trade

Why you must now be concerned about the hot Magnificent 7 trade

This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: Old habits die hard, in investing and in life. Take for example an employee who has been doing the same thing for a decade, then gets a promotion in large part because of what they were doing the last decade. It’s evolve or die in this new role — risk clinging to the past and its myriad of practices, or embrace the future and crush it. The same could be applied to… Source link

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George Stephanopoulos Shuts Down Interview With Sen. J.D. Vance

George Stephanopoulos Shuts Down Interview With Sen. J.D. Vance

Sen. J.D. Vance’s interview on ABC’s Sen. J.D. Vance’s interview on ABC’s “This Week” gets cut short after he made a comment implying he believes Trump can defy the Supreme Court. During an appearance on ABC’s “This Week” with Sen. J.D. Vance (R-Ohio) Sunday, George Stephanopoulos abruptly ended the interview after Vance implied that Donald Trump can defy Supreme Court rulings. “The Constitution says that the Supreme Court can make rulings, but if the Supreme Court ― and look, I… Source link

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