A new study shows "Tornado Alley" is migrating east, underscoring the increasing vulnerability of twisters in the Midwest and Southeast, and a decreasing trend across the Plains.
Why it matters: Tornadoes are deadly and destructive, and the thunderstorms that give rise to them are susceptible to climate change. This includes increasing temperatures, higher humidity and alterations in wind shear.
Engelhart Commodities Trading Partners of London on Monday agreed to buy Trailstone, an Austin, Texas, power trading firm, from private equity firm Riverstone Holdings.
The big picture: The combination of geopolitical instability and climate change have created major volatility in power markets, and big profits for firms that trade there.
Flooding — which has gotten increasingly severe in an era of extreme weather — costs the U.S. economy an estimated $179.8 to $496 billion per year in 2023 dollars, according to new data from Democrats on the Senate Joint Economic Committee.
Why it matters: The estimates are the equivalent of over 1% of 2023's gross domestic product, the report notes. It sheds light on a worsening problem for the insurance industry, as well as businesses and homeowners across the country.
Fruit-borne disease and extreme weather, amplified by a warming climate, are throttling orange-producing regions in Brazil and Florida — curbing harvests and driving up citrus prices.
Why it matters: Oranges, one of the fruits of choice in the U.S., are currently facing a supply crisis. It's adding to the list of everyday items impacted by inflation, which continues to frustrate consumers and color their perceptions of the economy.
