Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

World

29 Aug 2021

U.S Gulf Coast Residents Evacuate Ahead of Hurricane Ida

The Index Today

Thousands of people are fleeing the coastal areas in the Gulf of Mexico as Hurricane Ida intensifies. President Joe Biden has recently announced that he will provide relief and support to help states affected by the Hurricane.

According to forecasters, Hurricane Ida will most likely make landfall on Sunday night, ranked as a category 4 storm on the Saffir-Simpson scale. Heavy rainfall, tidal surge, and strong winds of 140 miles per hour are to be expected. This could lead to coastal flooding where Louisiana’s shoreline could be under several feet of water.

Last Saturday evening, the hurricane was gaining speed with winds of 105 miles per hour, heading straight for the Louisiana coast from the mouth of the Mississippi River. It is expected that the water surge and hurricane winds will cause flooding of around 10 and 15 feet, close to the mouth of the river and along the coastlines of Alabama.

Evacuations across low-lying coastlines in the area have been ordered. This has led to highways being jammed and a widespread shortage of fuel at gas stations.

500 federal emergency workers have been stationed to respond to the storm, as more power outages are expected to increase in the region. Hurricane Ida’s winds are expected to increase and spread over a 300-mile area. Aid workers are also working closely with electric utilities to restore power.

Gasoline operations facilities that lie in the path of the storm have been shut down temporarily. Exxon Mobil Corporation has cut down its production to 50% at the Louisiana refinery till the storm passes. On the other hand, the demand for gasoline has gone up by 70% in recent days due to the impending storm. Ida will be the 4th hurricane to hit the state this year and is expected to exceed the strength of hurricane Laura.

Clay pottery with table linens