Wall Street Prepares To Open After Hurricane
Should the NYSE have been better prepared? How will the market react? Was the backup plan sufficient? These are some of the questions which linger after the impact of Hurricane Sandy shut down Wall Street for two days.
The Economic Costs Of Hurricane Sandy
Estimates range from $20 billion to almost $88 billion – that estimate considers the rebuilding efforts, which would add about two-tenths of a percentage point to GDP growth. The hit to airlines, who had to cancel thousands of flights across the country, could be as much as $300 million, one analyst told Fox Business News.
European unemployment hits a new high
Spain recorded an unemployment rate of 25.8 percent (the highest in Europe), as the rate for the entire Eurozone reached 18.49 million in September, according to the BBC.
As Africa served as a proxy between the US and Russia during the Cold War, history is repeating itself. Mali is just one of the African nations where the battle against terrorism is being fought most intently.
Afghanistan sets its presidential elections for April 2014.
US-Panama trade deal becomes effective on Wednesday.
Factory workers in China are using social media as a weapon to protest conditions and generate attention to their plight.