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Groton Daily Independent
Thursday, Sept. 7, 2017 ~ Vol. 25 - No. 069 ~ 34 of 36
cent. Miami-Dade County overall has seen a 7 percent drop in policies sold, falling from 371,000 in 2012 to 342,000 today.
Just to the north in Broward County, home to Fort Lauderdale, the state has seen its biggest drop among major counties, falling 44 percent from 372,000 policies ve years ago to 207,000 today. County of cials say they don’t track the ood insurance program, leaving that to the cities.
If Irma’s eye moves instead up Florida’s west coast, that would put Tampa, St. Petersburg and other Gulf cities in danger to signi cant storm surge, Haus said. St. Petersburg has seen an almost 10 percent drop in federal ood policies written in the last ve years, while Tampa has seen a 3.5 percent drop, according to the AP analysis.
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Hoyer reported from Washington. Associated Press Science Writer Seth Borenstein in Washington con- tributed to this report.
Asian shares rise as US debt deal gives investors relief By KELVIN CHAN, AP Business Writer
HONG KONG (AP) — Asian stocks rose Thursday after President Donald Trump cut a deal with Democrats to extend borrowing limits to buy more time for the U.S. government, giving investors much needed relief. KEEPING SCORE: Japan’s benchmark Nikkei 225 rose 0.4 percent to 19,431.58 and South Korea’s Kospi jumped 1.1 percent to 2,345.58. Hong Kong’s Hang Seng index added 0.4 percent to 27,736.13 but the Shanghai Composite dipped 0.2 percent to 3,379.93. Australia’s S&P/ASX 200 advanced 0.3 percent to
5,706.70.
DEBT DEAL: Trump came to a deal with congressional Democrats to raise America’s debt limit for three
months, overruling Republicans in the process. The immediate goal was ensuring money for storm relief as Trump sought to help speed the $7.9 billion aid bill for Hurricane Harvey victims, but the move also helps keep the government operating, removing some short-term uncertainty for investors.
FED IN FLUX: In a surprise announcement, the Federal Reserve said Vice Chairman Stanley Fischer will resign next month for personal reasons, leaving a fourth vacancy on the U.S. central bank’s seven-member governing board. The unexpected departure of Fischer, a widely-respected economist, adds to a leader- ship vacuum at the top of the Fed as it navigates a dif cult path. It plans to slowly raise interest rates as the U.S. economy grows and unemployment falls, even as in ation remains below target, complicating its future course.
NUCLEAR TENSIONS: North Korea’s nuclear program remains in the headlines, though investor concerns have faded somewhat as the U.S. seeks the toughest-ever U.N. sanctions on the country in a resolution that would go to a vote Monday. Meanwhile, the U.S. military completed placing more launchers for the high-tech U.S. missile-defense system installed in South Korea to better cope against Pyongyang’s threats.
QUOTEWORTHY: “Surprises galore are greeting Asia traders as we digest the astonishing overnight headlines,” said Stephen Innes, head of Asia trading at OANDA. Fischer’s resignation, the debt deal and an unexpected rate hike by Canada’s central bank on strong economic growth “all caught market watch- ers by surprise,” he said.
WALL STREET: Major U.S. benchmarks ended higher. The Standard & Poor’s 500 index rose 0.3 percent to 2,465.54. The Dow Jones industrial average added 0.3 percent to 21,807.64. The Nasdaq composite gained 0.3 percent to 6,393.31.
ENERGY: The rally in oil futures zzled out. Benchmark U.S. crude dipped 6 cents to $49.10 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 50 cents, or 1 percent, to settle at $49.16 a barrel Wednesday. Brent crude, used to price international oils, slipped 10 cents to $54.10 a barrel in London.
CURRENCIES: The dollar rose weakened to 109.08 yen from 109.23 yen Wednesday. The euro rose to $1.1925 from $1.1918.