Philippine floods a man-made disaster: experts

Deadly floods that have swamped nearly all of the Philippine capital are less a natural disaster and more the result of poor planning, lax enforcement and political self-interest, experts say.

Japan and New Zealand were hit hardest by earthquakes in 2011

Last year, earthquakes and their consequences, such as tsunamis, landslides, and ground settlements, caused a damage of 365 billion US dollars. Hence, 2011 was the year with the so far highest economic losses due to earthquakes. ...

V-shaped or U-shaped? Some economists upbeat on virus recovery

The coronavirus pandemic has hit like a worldwide hurricane, shutting activity in most economies simultaneously, but some forecasters are more optimistic about the prospects for recovery once the worst has past.

Australia scraps billion-dollar satellite program

Australia on Friday said it was axing a billion-dollar plan to develop a series of space satellites, as it tries to cut costs amid an economic slowdown and cost-of-living crisis.

Researchers study costs of 'dirty bomb' attack in L.A.

A dirty bomb attack centered on downtown Los Angeles' financial district could severely impact the region's economy to the tune of nearly $16 billion, fueled primarily by psychological effects that could persist for a decade.

Cost of climate-linked disasters soars: UN

The economic cost of climate-related disasters hit $2.25 trillion over the last two decades, an increase of more than 250 percent compared to the previous 20 years, the UN said Wednesday.

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