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Lobster biz braces for Chinese New Year impacted by pandemic

first_img Pinterest Lobster biz braces for Chinese New Year impacted by pandemic Twitter Facebook Pinterest Twitter WhatsApp Previous articleMinnesota Twins therapist works off-season in South DakotaNext articleStormy Daniels and Michael Cohen, once foes, talk Trump Digital AIM Web Supportcenter_img Facebook FILE- In this Sept. 11, 2018, file photo, a lobster is packed into a shipping container in Arundel, Maine. America’s lobster industry recovered from the Trump trade war to have a good 2020, but it is approaching one of the busiest times of the year with trepidation because of coronavirus. Chinese New Year shipments will be complicated by the virus this year. Local NewsBusinessUS News WhatsApp By Digital AIM Web Support – February 8, 2021 TAGS  last_img read more

Buffett: Economy Will Hurt if Uninsured Harvey Losses Top $150 Billion

first_imgSign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Loss Mitigation, News Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Buffett: Economy Will Hurt if Uninsured Harvey Losses Top $150 Billion The Best Markets For Residential Property Investors 2 days ago Share Save Previous: Harvey Update: GSEs Announce Moratorium Next: For Sale: Freddie’s Largest RPLs The Week Ahead: Nearing the Forbearance Exit 2 days ago Warren Buffett, Chairman and CEO of Berkshire Hathaway, told CNBC Wednesday that he wouldn’t be surprised if the company has 50,000 total loss claims in the wake of Hurricane Harvey—and that’s just a small part of the damage Texas has incurred.While general sentiment is that Houston will certainly bounce back, the extent of the damage is still unknown. “It’s yet to be determined how big the problem is,” said Tim Rood, Chairman of the Collingwood Group, told FOX News. “Is it going to be 25,000 homes, 50,000 homes, 100,000 homes that have been impacted? That’s going to be a big determinate I would think. And the sad reality is that in real estate as long as there’s real estate to buy, one person’s misfortune is another persons opportunity.”There are those in the industry that are venturing guesses. Moody’s Analytics projects loss in southeast Texas to be between $51 billion and $75 billion, with home and vehicle damage estimated at $30 billion to $40 billion. However, total losses could continue to rise as the storm moves into Louisiana. According to Buffett, if those uninsured losses top $150 billion, there will be noticeable effects on the economy.”I don’t think it would be a full percentage point for a year or anything like that. But it has a real effect. It destroys wealth. If there’s $150 billion, or something, of uninsured losses that’s real wealth,” Buffett said on CNBC’s “Squawk on the Street.”The main point of concern is lack of flood insurance take-up by homeowners, which will delay reconstruction efforts, according to Moody’s Analytics. Moody’s expects a majority of Harvey’s impact to fall on the residential housing market. Even though Warren said Harvey’s arrival offered a fair amount of warning, if the storm continues its damage in Louisiana, losses as a share of GDP could overtake Hurricane Andrew and the Northridge Earthquake of 1994.”It’s how you perform at a time like this that really defines whether your insurance company is doing the right job,” Buffett said. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Tagged with: Warren Buffettcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Warren Buffett 2017-08-30 Brianna Gilpin Demand Propels Home Prices Upward 2 days ago About Author: Brianna Gilpin Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Home / Daily Dose / Buffett: Economy Will Hurt if Uninsured Harvey Losses Top $150 Billion August 30, 2017 1,875 Views Subscribelast_img read more

Summer Olympics Postponed

first_imgShare:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window) Photo: Pixabay / Tokyo 2020TOKYO – Japan’s Prime Minister Shinzo Abe and International Olympic Committee (IOC) president Thomas Bach agreed Tuesday to postpone the Olympics by about one year.Abe put the suggestion to Bach, who agreed that the latest date the Olympics will be held is summer 2021.The IOC has been facing mounting pressure to delay the Games, which were originally scheduled to take place from July 24 to August 9, amid the novel coronavirus outbreak.The Olympics have never been rescheduled in peacetime. In 1916, 1940 and 1944, the Games were canceled because of world wars. On March 17, Japan’s Olympic minister Seiko Hashimoto said the country was planning for a “complete” hosting of the Games, which she went on to explain meant an Olympics which “started on time and with spectators in attendance.”Then late last week, the IOC said that it was considering a number of different options including a postponement or modifying the Games so they could still take place as scheduled in July.There has been growing opposition to hosting the Games as planned as countries attempt to spread the limit of the coronavirus, which has infected more than 381,000 people globally.Australia and Canada both announced they would not be sending athletes to Tokyo this year, and — along with the likes of USA, Germany and Poland — called for the Games to be postponed until 2021.Sporting bodies, including USA Track and Field and USA Swimming, also called for a postponement.Meanwhile, athletes who have been unable to train due to closed facilities and restricted access to coaches and training partners have also voiced opposition to the Games proceeding as planned.Sporting events across the globe have been suspended amid the virus, with Euro 2020 being moved to next year.The financial implications of postponing the Olympics could be huge.The cost of hosting, organizers said in December, was some 1.35 trillion yen ($12.35 billion) but, according to Reuters, that figure did not include the cost of moving the marathon and walking events from Tokyo to Sapporo to avoid the summer heat.Sponsors, insurers and broadcasters have also committed billions to the Games.Some experts believe the truer sum is likely to be $25 billion, a vast majority of which has already been spent on large-scale infrastructure projects such as transportation networks, hotels and new venues.last_img read more

MSC Cruises Fetches USD 2.8 Bn to Finance New Ships

first_imgSwitzerland-based cruise company MSC Cruises has secured an EUR 2.5 billion (USD 2.8 billion) financing package for three new vessels.The ships in question are the company’s World Class 1 and 2 and a fifth vessel in their Meraviglia Class of ships.According to law firm Watson Farley & Williams, the financing structure provides construction financing for the cruise ships as well as post-delivery financing in respect of 80% of the total cost of construction of the three units.The financing was provided by a syndicate of lenders with Société Générale as lead mandated lead arranger, Citibank N.A. as initial mandated lead arranger and BNP Paribas, HSBC France, Banco Santander and Unicredit AG as mandated lead arrangers.Once delivered, the World Class vessels would be the largest cruise ships in the world by passenger numbers. All three ships are being built at Chantiers de l’Atlantique in St Nazaire, France, with World Class 1 due for delivery in 2022, Meraviglia 5 in 2023 and World Class 2 in 2024.last_img read more