Extreme Financial News

monsoon season has ended with India receiving «normal» cumulative rainfall — 820 mm against a long-period average of 868.6 mm — with positive factors countering the effect of El Nino conditions, the India Meteorological Department (IMD) said on Saturday. Rainfall between 94 per cent and 106 per cent of the long-period average (LPA) is considered normal. However, normal cumulative rainfall over the country during the monsoon season doesn't mean even spatial and temporal spread of precipitation.

AFP, At LaGuardia Airport, one of its terminals had to be shut down due to the flooding. Social media photos depicted passengers wading through water that reached well above their shoe tops. Mayor Eric Adams advised residents to stay indoors as the streets were impassable and subway stations were inundated with water.

India-Canada row, External Affairs Minister S Jaishankar said that both sides have articulated each other's views on the matter. Addressing a press conference in Washington DC on Friday, Jaishankar said, «I saw what the Americans have said, and hopefully, the Americans have seen what I have said. I think both of us have articulated our respective views...so I really don't know, beyond that, what else I can add». Jaishankar further said that the larger issue in the matter is the «permissiveness» regarding the incidents of violence and extremism in Canada, which has been flagged by India. «No incident is isolated and no incident is the totality.

Kathy Hochul has declared a state of emergency across New York City, Long Island, and surrounding area after torrential storms flooded subways and streets and delayed flights. Ophelia's remnants soaked New York City with heavy rain early Friday, and caused flash flooding in parts of the city, Xinhua news agency reported. A flood watch is in effect through 6 a.m. Saturday for the entire tri-state — New York, New Jersey and Connecticut, with rainfall rates of one to two inches per hour expected at times. Strong storms have shut down swaths of the Big Apple's subway system, flooded some streets and highways, and cut off access to at least one terminal at the LaGuardia Airport. A number of subway lines were suspended Friday morning with other lines suspending service through flooded stations, especially in Brooklyn. «There is only extremely limited subway service available because of heavy flooding.

Sam Bankman-Fried, the former CEO of the failed cryptocurrency exchange FTX, will go on trial next week in the Southern District of New York, facing seven charges of fraud and conspiracy.

By Jonathan Allen and Brendan O'Brien

How much would you need to be paid to cover the risk of the next massive hurricane or earthquake? Investors in the insurance market have a new answer: Way more than they were before. That is the message coming from a key part of that market, catastrophe bonds. “Cat bonds" emerged roughly a quarter century ago as insurance companies scrambled for ways to manage their most extreme risks after Hurricane Andrew’s shocking losses put several out of business.

By Padraic Halpin and Max A. Cherney

Make in India' in the defence sector, the Indian Air Force is going to place orders for 156 more Prachand Light Combat Helicopters, with HAL, which would be deployed at both the China and Pakistan front by the IAF and the Indian Army. The two services have already inducted 15 of these choppers in their fleet in the last 15 months after holding trials in the most extreme weather conditions and terrain in the world. «The Indian Air Force as the lead service has moved a proposal to the government for buying 156 more Prachand choppers as a joint acquisition case which is likely to get approved soon,» senior defence officials told ANI. Recently, Indian Air Force chief Air Chief Marshal VR Chaudhari had announced from foreign soil about the force's intent to buy around 100 more Light Combat Aircraft Mark 1A to push indigenisation. The combined total of the two projects in terms of worth is over Rs 1.5 lakh crore. Of the 156 choppers, 66 would be inducted by the Indian Air Force while the rest 90 would be acquired by the Indian Army. Meeting the Indian Air Force requirement of being a completely Indian Designed, developed and manufactured weapon system, the Prachand has been extensively test-flown by Hindustan Aeronautics Ltd (HAL). The attack helicopter has been built as per the requirements of the Indian armed forces to operate both in desert terrains and high-altitude sectors. Prachand is the world's only attack helicopter that can land and take off at an altitude of 5,000 metres (16,400 ft), which makes it ideal to operate in the high-altitude areas of the Siachen glacier and Eastern Ladakh. It is also capable of firing a range of air-to-ground and air-to-air missiles and can destroy air defence operations of the

Delhi High Court has asked the Centre and the AAP government to streamline the process for availing medical facilities under various health welfare schemes, while taking note of the constraints faced by people from economically weaker sections wanting to enjoy such benefits. The high court constituted a seven-member committee headed by Delhi chief secretary to iron out the defects in the current system.

Economic Times report. The move will help in increasing the role of banks in financing startups.

Ramkumar Ramanathan and Saketh Myneni settled for the men's doubles silver medal at the Asian Games after being edged by Chinese Taipei's Hsu Yu-Hsiou and Jason Jung but India's hopes of winning a gold from the tennis courts is still alive with the mixed team reaching the title clash, here on Friday. The duo of Rohan Bopanna and Rutuja Bhosale outplayed the Chinese Taipei combine of Chan Hao-ching and Yu-Hsiou Hsu 6-1 6-3 in the mixed double semifinal. In the men's doubles event, the Taipei team was unseeded but both Hsu (182) and Jung (231) were better-ranked singles players and it showed in their ground strokes and the way they went about their business in a 6-4 6-4 victory against the second-seeded Indians in the title clash.

Atacama Desert in northern Chile, researchers say. Absence of a central political system and competition for resources in the extreme desert environment may have enabled consistent violence for many millennia in the region, the researchers from universities in the US and Chile said in their study. They were examining signs of violent trauma on the skeletal remains of 288 adult individuals dating from 10,000 years ago to 1450 AD from funerary sites across the coast of the Atacama Desert, a desert plateau located on the Pacific coast of South America.

Billionaire hedge fund manager Bill Ackman believes long-term Treasury yields can shoot even higher in the short run on the back of stubborn inflation.

Logic might tell you that the people most likely to suffer workplace accidents are those who do the most dangerous jobs. A recent study, however, finds that isn’t the case.

ANI, “In view of the bandh called by pro-Kannada organizations, farmer unions, and several other organizations tomorrow regarding Cauvery water issue, Section 144 has been imposed in Mandya district and schools and colleges will remain closed tomorrow." Earlier on Monday, after the successful Bengaluru shutdown -- called by 'Karnataka Jala Samrakshana Samiti', an umbrella outfit of farmers’ associations and other organizations led by farmer leader Kuruburu Shanthakumar, 'Kannada Okkuta' -- led by Kannada activist Vatal Nagaraj -- made an announcement for the Karnataka bandh on 29 September. ALSO READ: Bengaluru bandh news: After today, statewide bandh called on THIS date against Cauvery water release As per details, though both the bodies are fighting for the same issue, however, Vatal Nagaraj, who had called for a state bandh on Friday, made it clear that Kannada Okkuta was not supporting Monday's bandh.

Dumbo Octopus, scientifically known as «Grimpoteuthis,» a deep-sea inhabitant that has piqued the curiosity of scientists and explorers. But there's more to this story – let's delve into the world of Frank Rubio, a distinguished NASA astronaut with a remarkable connection to deep-sea exploration. The Dumbo Octopus, named after Disney's iconic character «Dumbo» due to its oversized ear-like fins, belongs to a remarkable family of creatures dwelling in the ocean's profound reaches.

Aakash Moondhra, global chief financial officer of Prosus-owned PayU, on Thursday said he has resigned from the payments firm, but will stay in post till September 30. Moondhra, who took to professional networking website, LinkedIn to share the news of his departure from the global fintech firm, called it the ‘end of an era’.

WASHINGTON—A gusher of cash is starting to pour out of Washington to carry out the Biden administration’s plan to strengthen the U.S. power grid and make it more resilient to outages and extreme weather. The Energy Department on Thursday is set to announce a new round of grants to tribes, territories and 11 states including Arizona, Florida and West Virginia as part of a $2.3 billion program designed to advance a key piece of the White House’s clean-energy drive.

PTI quoted officials as saying. Earlier, multiple opposition MPs, including Congress leader Adhir Ranjan Chowdhury and DMK's Kanimozhi, have sought action against Bidhuri for his objectionable words against BSP's Danish Ali.

The two-month selloff in US stocks threatens to intensify as options dealers on Wall Street and fast-money traders both turn against the market.