×

Top News & Analysis Texas

  • HOUSTON, Aug 30- Tropical Storm Harvey inflicted more damage on the heart of the U.S. energy industry overnight after flooding the biggest U.S. refiner in Texas and then churning into Louisiana, causing fuel shortages and high gasoline prices that could afflict the country for weeks. That includes the biggest U.S. refinery, Motiva's Port Arthur facility, which...

  • NEW YORK, Aug 30- A U.S. government shutdown, if it were to start at the start of the fourth quarter, would subtract 0.2 percentage point or at least $6.5 billion from gross domestic product each week it drags on, Standard& Poor's U.S. chief economist Beth Ann Bovino said on Wednesday.

  • Beaumont mayor: Our city is a watery wasteland

    Beaumont, Texas Mayor Becky Ames discusses historic flooding in her city and how residents are leaving the area.

  • LAKE CHARLES, La./ HOUSTON, Aug 30- The tropical storm that devastated Texas' Gulf Coast spread to neighboring Louisiana on Wednesday, while the U.S. energy hub of Houston remained paralyzed by a record rainfall that also drove tens of thousands of people from their homes. Slow-moving Tropical Storm Harvey has killed at least 22 people and sent more than 32,000 to...

  • DETROIT, Aug 30- Union Pacific Corp said on Wednesday it should begin cleanup operations at two rail freight yards in Houston on Wednesday or Thursday but warned that areas east of the city are "still inaccessible at this time." The No. 1 U.S. railroad said that it was using helicopters and drones to inspect areas by air that cannot yet be accessed by road.

  • Estimated cost of Harvey clean up up to $57 million

    Chuck Watson, director of research and development at Enki Research, assesses the damage Harvey could cost impacted areas of Texas.

  • Harvey's economic impact on GDP

    CNBC's Steve Liesman breaks down the numbers on revised second quarter GDP up to 3%.

  • Arkema chemical plant in critical condition

    CNBC's Brian Sullivan reports on the developments of the Arkema chemical plant at risk of exploding.

  • Harvey has made landfall yet again Wednesday along the Louisiana-Texas border

    Harvey is the most powerful hurricane to hit Texas in 50 years. The damage from the monster storm could be tens of billions of dollars.

  • LAKE CHARLES, La./ HOUSTON, Aug 30- The tropical storm that devastated Texas' Gulf Coast spread to neighboring Louisiana on Wednesday, while the U.S. energy hub of Houston remained paralyzed by a record rainfall that also drove tens of thousands of people from their homes. Slow-moving Tropical Storm Harvey has killed at least 20 people and sent 30,000 to shelters...

  • GOP eyeing $1 billion disaster funds cut to help wall

    House Republicans are looking at cutting almost $1 billion from disaster accounts to help finance the president's border wall.

  • UNION PACIFIC CORP SAYS BEGINNING TO INSPECT MOST AREAS IN HOUSTON AND WEST OF HOUSTON TO ASSESS DAMAGE FROM TROPICAL STORM.

  • LAKE CHARLES, La./ HOUSTON, Aug 30- The tropical storm that devastated Texas' Gulf Coast spread to neighboring Louisiana on Wednesday, while the U.S. energy hub of Houston remained paralyzed by a record rainfall that also drove tens of thousands of people from their homes. Slow-moving Tropical Storm Harvey has killed at least 20 people and sent 30,000 to shelters...

  • LONDON, Aug 30- Gasoline exports from Europe across the Atlantic are set to surge in coming days as traders plug supply gaps after Tropical Storm Harvey crippled refineries in the U.S. Gulf Coast. Many of the shipments are expected to end up in Latin America, which has become increasingly reliant on gasoline and diesel supplies from the U.S. Gulf Coast in recent...

  • WASHINGTON, Aug 30- The government-run U.S. flood insurance program had already received 35,000 claims as of noon on Wednesday as a result of catastrophic flooding in Texas, according to the program's director.

  • Hurricane Harvey slams into restaurant industry

    Nick Setyan, Wedbush Securities analyst, discusses Hurricane Harvey's impact on the restaurant industry, including names like Jack in the Box.

  • Aug 30- Major U.S. railroads have warned it could be a long time before normal operations resume after Hurricane Harvey caused catastrophic flooding in the Houston area. The closure of rail lines in a grain transport hub and nexus for cross-border traffic with Mexico presents a costly headache for companies ranging from automakers to farmers which use the...

  • WASHINGTON, Aug 30- The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter. Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second...

  • NEW YORK, Aug 30- Gasoline futures surged on Wednesday to another two-year high and crude oil fell, as flooding and damage from Tropical Storm Harvey shut nearly a quarter of U.S. refinery capacity, curbing demand for crude while raising the risk of fuel shortages. U.S. gasoline futures were up 6.5 percent at $1.8993 a gallon, having hit $1.9140, highest since July...

  • HOUSTON/ LAKE CHARLES, La., Aug 30- Tropical Storm Harvey bore down on eastern Texas and Louisiana on Wednesday, bringing the catastrophic downpours that paralyzed the U.S. energy hub of Houston with record rainfall and drove tens of thousands of people from their homes. The storm that first came ashore on Friday near Corpus Christi, Texas, as the most powerful...