Damage from superstorm Sandy that struck the U.S. East Coast last month will cost more than $71 billion in three northeastern states. New York Governor Andrew Cuomo said Monday that damage from the storm totaled $42 billion across his state. He said the tally includes the more than $32 billion needed for repairs and $9 […]
Superstorm Sandy Damage Tops $71 Billion
Posted November 26th, 2012 at 11:00 pm (UTC-5)
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Report Says Somali Piracy Costs $7 Billion Per Year
Posted February 8th, 2012 at 8:15 am (UTC-5)
A new report says Somali piracy cost the world economy nearly $7 billion last year, most of it spent to protect ships from hijackings. The report, from the U.S.-based One Earth Future foundation, said Somali pirates command an average ransom of $5 million per ship. But it says ransoms were only a small fraction of […]
APEC Reports Major Savings on Regional Trade
Posted November 9th, 2011 at 3:55 am (UTC-5)
Researchers for the leading Asia-Pacific economic grouping say improved efficiency has saved regional countries more than $58 billion on trading costs since 2007. The secretariat of the Asia-Pacific Economic Cooperation forum released the findings ahead of an APEC summit to be held in Hawaii later this week. The report says fees and charges on regional […]
For the U.S., a Slack Economy, but Growing War Costs
Posted June 22nd, 2011 at 2:36 am (UTC-5)
Some U.S. officials are voicing increasing concern about the burgeoning cost of American military involvement in simultaneous wars in Iraq, Afghanistan and now Libya. By various government and private accounts, the U.S. has spent more than $1 trillion over the last decade on the wars in Iraq and Afghanistan, and already more than $700 million […]
