New US homebuilding slowed in August for the second straight month, driven down by Hurricane Harvey and a continuing drop in apartment construction, according to government data released Tuesday.
The decline brought the pace of construction to its slowest pace in three months. The rate of building has now fallen in six of the first eight months so far inRead more
Output at US factories plunged in August due to the big hit from Hurricane Harvey that shut down huge parts of the nation's oil refining, the Federal Reserve reported Friday.
The massive storm that hit the Gulf Coast of Texas late that month is estimated to have cut US industrial production by three-quarters of a percentage point, the report said.Read more
In the wake of Hurricane Harvey, which brought unprecedented flooding and destruction to communities across southeast Texas, the UAE Government has pledged US$10 million to help with local and state recovery efforts.
UAE Ambassador to the United States, Yousef Al Otaiba, made the announcement after speaking with Texas Governor Greg Abbott.
In the coming weeks, UAE Embassy officials will coordinateRead more
Beyonce returned to her hometown of Houston to provide comfort to those affected by Hurricane Harvey, telling them, “This is a celebration of survival.”
Accompanied by her mother and former Destiny’s Child bandmate Michelle Williams, Beyonce visited with evacuees Friday at the St. John’s Church, where she grew up singing.
She wiped away tears as she listened to their stories,Read more
Hurricane Harvey, which lashed Texas and Louisiana with unprecedented rain last month, could end up costing insurers between $25 and $30 billion (21 and 25 billion euros), German reinsurance firm Munich Re estimated on Sunday.
"It is a big estimate. The cost could climb a little bit, but not much," said Torsten Jeworrek, a member of Munich Re's management board,Read more
The US House of Representatives Wednesday approved in a nearly unanimous vote $7.85-billion in emergency aid for victims of Hurricane Harvey, a rare show of unity by the bitterly divided chamber.
Lawmakers in the lower house of Congress voted 419-3 in favor of releasing the funds, which will mostly go to the Federal Emergency Management Agency (FEMA).
The HouseRead more
As Houston residents contend with flooded homes and lost belongings in the upheaval left in the wake of Hurricane Harvey, many face another urgent priority: getting a new car.
Having a vehicle is a necessity in the sprawling Texas metropolis with few public transportation options.
But as many as a half million cars were washed away or irreparably deluged afterRead more
Hurricane Harvey caused "broad disruptions" to economic activity in the US Gulf Coast region, causing gasoline shortages and spiking freight costs, the Federal Reserve said Wednesday.
However, it was still too soon to measure the full extent of the impact caused by the storm, according to a periodic Fed survey on economic conditions.
More broadly, the US economy continued toRead more
Hurricane Harvey caused "broad disruptions" to economic activity in the US Gulf Coast region, causing gasoline shortages and spiking freight costs, the Federal Reserve said Wednesday.
However, it was still too soon to measure the full extent of the impact caused by the storm, according to a periodic Fed survey on economic conditions.
More broadly, the US economy continued toRead more
A fresh blaze broke out at a chemical plant in Texas that was flooded as a result of Hurricane Harvey on Friday, sending a giant plume of thick black smoke billowing into the sky, TV footage showed.
Officials at the Arkema plant in Crosby, northeast of Houston, had left volatile chemicals in nine truck-sized containers after the storm cut powerRead more