Sunday, June 24, 2012

Sea rise faster on East Coast than rest of globe

WASHINGTON (AP) — From Cape Hatteras, N.C., to just north of Boston, sea levels are rising much faster than they are around the globe, putting one of the world's most costly coasts in danger of flooding, government researchers report.

U.S. Geological Survey scientists call the 600-mile swath a "hot spot" for climbing sea levels caused by global warming. Along the region, the Atlantic Ocean is rising at an annual rate three times to four times faster than the global average since 1990, according to the study published Sunday in the journal Nature Climate Change.

It's not just a faster rate, but at a faster pace, like a car on a highway "jamming on the accelerator," said the study's lead author, Asbury Sallenger Jr., an oceanographer at the agency. He looked at sea levels starting in 1950, and noticed a change beginning in 1990.

Since then, sea levels have gone up globally about 2 inches. But in Norfolk, Va., where officials are scrambling to fight more frequent flooding, sea level has jumped a total of 4.8 inches, the research showed. For Philadelphia, levels went up 3.7 inches, and in New York City, it was 2.8 inches. Learn more...

Monday, June 4, 2012

Global shares head lower as world slowdown fears grow

LONDON (Reuters) - European shares joined a global sell-off in riskier assets on Monday after disappointing May economic data from the United States and China overwhelmed any positive impact from hopes the world's central banks would ease policy further.

The euro slid 0.3 percent to $1.2400, moving closer to the $1.2288 it hit on Friday, its lowest level since July 2010, while Brent crude oil fell below $97 a barrel to a 16-month low.

Safe haven U.S. and German government bond yields held near Friday's record lows.,

"Investors are just fleeing risk assets," said ATI Asset Management chief investment officer Simon Burge.

The latest sell-off followed disappointing U.S. jobs growth figures on Friday and weak Chinese manufacturing data, which stoked fears that the problems in the euro zone are causing a worldwide slowdown in business activity. Learn More...