China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
After years of speculation, Neuralink, the brain-machine interface start-up co-founded by Elon Musk, started talking directly to the public on Tuesday.Technologyread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
Mikaila Ulmer may be just 14 years old, but the Me & the Bees Lemonade founder knows a thing or two about business.Young Successread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
(Adds new comments from V.P. Pence in 2nd and 3rd graphs)
BROWNVILLE, Neb., March 19 (Reuters) - Vice President Mike Pence in Nebraska on Tuesday took stock of the devastation unleashed across the U.S. Midwest by floods that have killed four people, left one missing and caused more than a billion dollars in damage to crops, livestock and roads.
"I never fail to be inspired by moments like this. The way communities come together and people volunteer to put themselves in harm's way to help others," Pence said Tuesday in Omaha, according to an official statement.
Pence also said that the Federal Emergency Management Agency is working to expedite a request from Nebraska's governor for a federal emergency declaration, which will provide more aid to the state.
The floodwaters have inundated a large swath of farm states Iowa and Nebraska along the Missouri River, North America's longest river, prompting half of Iowa's 99 counties to declare states of emergency.
"The hearts of the American people are with those who have been impacted across the Midwest!" Pence said in the tweet earlier Tuesday.
Nebraska, Iowa and Wisconsin have all declared states of emergency in the floods, which stem from a powerful winter hurricane known as a "bomb cyclone" that slammed into the U.S. Farm Belt last week, killing untold numbers of livestock, destroying grains and soybeans in storage, and cutting off access to farms because of road and rail damage.
The latest confirmed death was identified by the sheriff in Fremont County, Iowa, as 55-year-old Aleido Rojas Galan, who was pulled from floodwaters along with another man on Friday and later succumbed to injuries.
A Nebraska man who has been missing since the collapse of the Spencer Dam last week on the Niobrara River was identified by the Omaha World-Herald newspaper as Kenny Angel.
Authorities said they had rescued nearly 300 people in Nebraska alone, with some rivers continuing to rise.
Rescuers could be seen in boats pulling pets from flooded homes. Some roadways crumbled to rubble, while sections of others were submerged. In Hamburg, Iowa, floodwaters covered buildings.
In Brownville, Nebraska, floodwaters lapped at the edge of the small town of 132 people, closing the main bridge across the Missouri River.
$1 BILLION IN DAMAGE
"Its a lot worse than Ive ever seen it, said Malina Wheeldon, who went ahead with the scheduled opening of her new Euphoric Soul Salon & Boutique business despite the floods. Her husband, Justin, who grew up in Brownville, agreed, saying he had lived through the floods of 1993, 2010 and 2011.
"About every five years now, we have a 100-year flood, he said.
The Missouri was expected to crest at 47.5 feet (14.5 m) on Tuesday, breaking its 2011 record by more than a foot (31 cm), the Nebraska Emergency Management Agency said. The flooding was expected to continue through Thursday.
Nebraska officials estimated more than $1 billion in flood damage for the state's agricultural sector so far, according to Craig Head, vice president of issue management at the Nebraska Farm Bureau. Head said the number was expected to grow as floodwaters recede.
"It's really too early to know for sure how bad this is going to get. But one thing we do know: It's catastrophic for farmers," said Matt Perdue, government relations director for the National Farmers Union trade group. "Were hoping it's only $1 billion, but that's only a hope."
Nebraska officials estimate the floods have caused $553 million in damage to public infrastructure and other assets, as well as $89 million in privately owned assets, according to the state's Emergency Management Agency on Tuesday.
The water also covered about a third of Offutt Air Force Base near Omaha, Nebraska, home to the U.S. Strategic Command, whose responsibilities include defending against and responding to nuclear attacks.
The U.S. Army Corps of Engineers is distributing 400,000 sandbags to operators of 12 levees along the Missouri River in Missouri and Kansas that were in danger of being breached by floodwaters, the Army Corps said in a news release on Tuesday.
In Niobrara, Nebraska, south of the Missouri River near the border with South Dakota, Mayor Jody Stark said flooding that began on Thursday had devastated his community of 350 people, with businesses being the hardest hit.
"Our road system is shot pretty much in every direction coming into town," Stark said.
"It's one day at a time. We will do what we can to get back on our feet," Stark said. "It's just so heartbreaking. It's going to be tough, but hopefully we can all get through it."
The floodwaters were the result of snowmelt following heavy rains last week and warm weather, said Bob Oravec, a meteorologist with the National Weather Service's Weather Prediction Center.
Roads leading to the Nebraska Public Power District's Cooper nuclear plant near Brownville were engulfed by floodwaters from the Missouri, but the facility was still operating safely at full power on Tuesday.
The plant operator was flying staff members and supplies to the plant with helicopters, said power district spokesman Mark Becker. (Reporting by Karen Dillon; Additional reporting by Gina Cherelus in New York, Rich McKay in Atlanta, Jarrett Renshaw in Philadelphia, P.J. Huffstutter and Mark Weinraub in Chicago and Dan Whitcomb in Los Angeles; Writing by Dan Whitcomb; Editing by Bill Tarrant, Jonathan Oatis and Peter Cooney)