$100bn

Finweek English Edition - - In Brief -

Early es­ti­mates have put the cost of the cat­a­strophic floods that hit Texas af­ter Hur­ri­cane Har­vey buf­feted the east coast of the US at $100bn. Thou­sands of homes have been flooded, forc­ing res­i­dents to seek emer­gency shel­ter, with US au­thor­i­ties es­ti­mat­ing that 30 000 peo­ple would have to leave their homes. By 28 Au­gust, nine were con­firmed dead as a re­sult of the weather event, The Guardian re­ported. US Pres­i­dent Don­ald Trump was quoted as say­ing that the cost of re­cov­er­ing from Har­vey – the first nat­u­ral disas­ter dur­ing his pres­i­dency – would be “very ex­pen­sive” but pledged that “the fed­eral gov­ern­ment stands ready, will­ing and able to sup­port that ef­fort”.

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