Avtar Sandu, senior mManager, Commodities at Phillip Futures, discusses the predictions that El Nino may emerge this year and explains what it means for commodity markets.» Read More
Thousands have fled their homes and engineers have warned even "cyclone proof"homes could be shattered by the powerful winds. Here are some images.
Amid the volatility in the markets, wealthy individuals and big institutions are flocking to hedge funds that buy so-called catastrophe bonds and other investments tied to the probability of Gulf Coast hurricanes, Japanese earthquakes, large snowfalls in Canada and other natural disasters. The New York Times reports.
The National Flood Insurance Program is one big hurricane away from costing U.S. taxpayers billions of dollars. Experts say unless Congress makes some much needed changes to the program, taxpayers will find themselves footing the bill for another major disaster.
If you've made some gains in the stock markets this year and are thinking about putting that money to good use, find out what the top charitable causes in Asia are this year.
Fresh volcanic eruptions raised fear of more damage as bad weather and rough terrain left thousands of tsunami victims stranded, the New York Times reports.
After Hurricane Katrina, as the city lost billions of dollars in tourism business, the New Orleans Convention and Visitors Bureau embarked on a mission to overcome unprecedented brand impairment. Today, the tourism industry stands taller, stronger than before.
Michael Brown, the former administrator of the Federal Emergency Management Agency and the initial poster child for all that went wrong in the aftermath of Hurricane Katrina, is visiting New Orleans for the fifth anniversary of the event that made him said poster child.
To really know if we have succeeded, to really know if we have created a New Orleans region better than before, we have to go out ten years. Here we will find the “new normal” that will come to pass after the Katrina money has run dry, and the economy is left to stand on its own.
It's a tall order to transform New Orleans by 2030, but that's the aim of the city's new master plan—five years after Hurricane Katrina hobbled this historic place and the surrounding Gulf coast region.
Nearly five years after Katrina and the devastating failures of the levee system, New Orleans is well on its way to getting the protection system Congress ordered: a ring of 350 miles of linked levees, flood walls, gates and pumps that surrounds the city and should defend it against the kind of flooding that in any given year has a 1 percent chance of occurring.
Russia's reputation as a dangerous country for investors actually gives foreigners brave enough to invest there an advantage, Jochen Wermuth, CIO of Wermuth Asset Management, told CNBC Wednesday.
Media coverage of the Gulf oil spill’s effect on the gulf has focused on tourist income lost by the waterfront towns with footage of empty beaches, restaurants and T-shirt shops dominates the news. Interviews with devastated business owners are heart-rending. But they always end with references to somehow hanging on until “things get back to normal.”
It’s pretty safe to say that BP has been the most-watched company in the world for the last 100+ days since the fire and subsequent oil spill in the Gulf of Mexico began.
BP on Wednesday said its “static kill” operation to stem the leak at its Macondo well in the Gulf of Mexico appeared to have succeeded, a step the UK energy group described as a “significant milestone”.
Corporate America has a lesson to learn here—we must act as though people’s lives and livelihoods depend upon our decisions. Because they do. The best defense against disaster, whether natural or man-made, is to take steps now to ensure your organization is safeguarded against accidents, fortified to withstand them, and buoyant enough to recover in their wake.
Looks like Tony Hayward will have his life back after all. British oil giant BP has replaced him with Bob Dudley, an American known for diplomacy. This move that might soften U.S. criticism of the way BP has been handling the oil spill in the Gulf of Mexico.
The biggest challenge for Dudley is going to be reconfiguring the company culture toward rigorous accountability. Going forward, corporate social responsibility (CSR) will have a new found meaning at BP.
"I'm hearing from them constantly." That's what Kenneth Feinberg, the administrator of a $20 billion oil spill compensation fund, told members of Congress. Them? Real estate agents and brokers. "They make a credible argument," he adds.
Apache has a reputation of grabbing mature assets on the cheap and squeezing substantial value out of them. There is a distinct possibility that the reported $10-plus billion asset sale could include BP's Alaska operations.
In the "I'd never believe it if I didn't see it with my own eyes" category, BP once released a board game called "Offshore Oil Strike".