The rising threat to businesses in 2022? Water.
CBSN
COVID-19 has emptied office building and shuttered stores, crippling America's downtowns. But if climate scientists are right, a slower moving foe — flooding — could pose an even greater risk, threatening to drown the nation's commercial real estate.
The rising waters are already endangering hundreds of thousands of commercial structures, according to a first-of-its-kind report released this month. More than 700,000 apartment buildings, malls and office complexes face flooding risks in 2022 severe enough to impede business access, according to the analysis from the nonprofit First Street Foundation and engineering firm Arup. For businesses, the total downtime could reach 3 million days, while the economic impact of closures would approach $50 trillion. For perspective, that's nearly half of global GDP.
"American businesses and local economies face much more uncertainty and unpredictability when it comes to the potential impact of flooding on their bottom line than they may realize," said Matthew Eby, executive director of the First Street Foundation.
The White House is withdrawing former Florida Rep. Dave Weldon's nomination to be the director of the Centers for Disease Control and Prevention, a White House official confirmed Thursday.
The Federal Trade Commission asked a federal judge on Wednesday to delay a trial in a case accusing Amazon of using deceptive practices in its Prime subscription program, citing staffing and budgetary challenges at the government agency.
Oliver Miller, a beefy center who helped Arkansas advance to the Final Four before playing nine seasons in the NBA, has died. He was 54.
Nevada prosecutors say 20 people have been charged in connection with a brawl at a maximum-security prison in eastern Nevada last year in which three inmates were killed and others were injured.
The nominee for a top Justice Department job has left a digital trail of deleted social media posts that his critics say suggest fringe views on a number of issues, including an openness to defying court orders and acceptance of arranged marriages under certain circumstances.
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Waterbury, Conn. — A Connecticut man who said he was held captive for 20 years was rescued after setting fire to his room and telling first responders he did it to gain his freedom, police said Wednesday.
Robert Morris, founding pastor of Gateway Church, a megachurch in Southlake, Texas, has been indicted on five counts of lewd or indecent acts with a child, stemming from alleged incidents dating back to the 1980s, the Oklahoma attorney general's office announced Wednesday. We are aware of the actions being taken by the legal authorities in Oklahoma and are grateful for the work of the justice system in holding abusers accountable for their actions. We continue to pray for Cindy Clemishire and her family, for the members and staff of Gateway Church, and for all of those impacted by this terrible situation.
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The arrest of Mahmoud Khalil , a green card holder and former Columbia University student involved in pro-Palestinian campus protests in 2024, is raising questions about the rights of permanent residents in the United States.
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Washington — Less than two months since President Trump's inauguration, the Republican-led Senate has confirmed nearly every one of his Cabinet nominees.
The Environmental Protection Agency on Wednesday said it would "formally reconsider" a landmark 2009 finding by the agency that greenhouse gases are a danger to public health.