A swath of the Midwest that’s home to 63.9 million people faced a third day of tornadoes, powerful thunderstorms and damaging hail from the same system that spawned yesterday’s deadly Oklahoma twister.
President Barack Obama met with chief executives of utility companies and their affiliated lobby groups on minimizing power disruptions during major storms like those that occurred in the Northeast after Superstorm Sandy.
Hurricane Sandy’s economic toll is poised to exceed $20 billion after the biggest Atlantic storm slammed into the Eastern U.S., damaging homes and offices and flooding subways in America’s most populated city.
Hurricane Irene’s estimated cost to insurers fell to about $2.6 billion in the U.S. as the storm lost strength en route to New York, according to Kinetic Analysis Corp., a firm that predicts the effects of disasters.
Swiss banks must lure affluent clients from emerging markets or face a “slow death” as the pursuit of tax dodgers by U.S. and European authorities results in outflows of assets, industry officials and investors said.