Wildfire And Drought Risks Spike As California Enters Dry Season With Just 18% Snowpack California is entering its dry season with far less snow than usual, heightening drought concerns across the state, according to Bloomberg . Snowpack stands at just 18% of normal statewide, according to the Department of Water Resources. Conditions are especially severe in the Sierra Nevada: the northern region...
Wildfire And Drought Risks Spike As California Enters Dry Season With Just 18% Snowpack California is entering its dry season with far less snow than usual, heightening drought concerns across the state, according to Bloomberg . Snowpack stands at just 18% of normal statewide, according to the Department of Water Resources. Conditions are especially severe in the Sierra Nevada: the northern region has only 6% of typical levels, while the central and southern areas are at 21% and 32%, respectively. The shortfall matters because California depends on winter snow — not year-round rainfall — for much of its water. Snowpack, typically measured around April 1 at its peak, acts as a natural reservoir that melts in spring and summer to supply cities, farms and ecosystems. This year, however, warmer Pacific storms brought more rain than snow, boosting reservoirs but limiting snow accumulation. The snowpack also peaked early, in late February, before record March warmth rapidly melted it. Bloomberg writes that the result could be widespread drought conditions, with increased wildfire risk and added strain on agriculture and wildlife as water supplies tighten. Historically, California has seen similar swings between extreme lows and highs in snowpack. During the 2012–2016 drought, snow levels collapsed, culminating in 2015 — the lowest in at least 500 years — when many Sierra sites recorded little to no snow. Warmer temperatures, rather than just lack of precipitation, played a major role in that “snow drought,” a pattern scientists say is becoming more common. At the same time, the state can quickly swing to the opposite extreme. Just a few years ago, 2023 brought one of the largest snowpacks on record — more than double the average — following multiple wet storms. These sharp reversals underscore California’s growing “boom-and-bust” water cycle, where exceptionally wet years are often followed by rapid declines, making long-term water planning increasingly difficult. Tyler D...
Andrew Harnik/Getty Images News Gold prices (XAUUSD: CUR) moved lower as tensions in the Middle East intensified, with Donald Trump increasing pressure on Iran and signaling potential military action if the Strait of Hormuz remains closed. Bullion dropped more than 1% in early trading, extending losses from the prior session and briefly falling below $4,610 an ounce. The decline comes despite ongo...
Andrew Harnik/Getty Images News Gold prices (XAUUSD: CUR) moved lower as tensions in the Middle East intensified, with Donald Trump increasing pressure on Iran and signaling potential military action if the Strait of Hormuz remains closed. Bullion dropped more than 1% in early trading, extending losses from the prior session and briefly falling below $4,610 an ounce. The decline comes despite ongoing geopolitical risk, which would typically support demand for safe-haven assets. Trump warned over the weekend that the U.S. could take aggressive action against Iranian infrastructure if Tehran does not comply with U.S. demands. Iran, however, has shown little willingness to change course, continuing attacks tied to the regional conflict. Inflation concerns outweigh safe-haven demand Gold has fallen sharply since the conflict began in late February, with losses now exceeding 10%. The drop reflects a shift in investor focus toward inflation risks driven by rising energy prices, which can delay interest-rate cuts and reduce the appeal of non-yielding assets like gold. At the same time, some investors have been forced to sell gold holdings to cover losses in other markets, further pressuring prices. Broader market reaction Other precious metals also declined, including silver, platinum and palladium. Meanwhile, the U.S. dollar edged higher, adding additional headwinds for gold. Oil prices continued to climb on supply concerns, while U.S. equity futures pointed lower, underscoring broader market unease as the conflict shows little sign of easing. Investors are now watching closely for further signals from Washington, including a planned update from Trump and a looming deadline tied to Iran’s control of the Strait of Hormuz. More on Gold Spot Price Central Bank Gold Statistics: Central Banks Stay The Course On Gold In February Macro Insights: The Hormuz Crisis Says No, But The Market Says Yes Risk Off After Trump's Speech - Intraday Outlook On S&P 500, Nasdaq 100, AUD/USD, Go...
(RTTNews) - The Japanese stock market has tracked higher in two of three trading days since the end of the four-day losing streak in which it had tumbled more than 2,675 points or 5.1 percent. The Nikkei 225 now sits just above the 53,120-point plateau and it's looking at a soft
(RTTNews) - The Japanese stock market has tracked higher in two of three trading days since the end of the four-day losing streak in which it had tumbled more than 2,675 points or 5.1 percent. The Nikkei 225 now sits just above the 53,120-point plateau and it's looking at a soft
Paramount is in talks to secure signed equity commitments of close to $24 billion from three sovereign-wealth funds led by Saudi Arabia to help back its takeover of Warner Bros. Discovery according to people familiar with the matter. Saudi Arabia’s Public Investment Fund has agreed to provide roughly $10 billion of the nearly $24 billion to Paramount, run by David Ellison, the son of billionaire O...
Paramount is in talks to secure signed equity commitments of close to $24 billion from three sovereign-wealth funds led by Saudi Arabia to help back its takeover of Warner Bros. Discovery according to people familiar with the matter. Saudi Arabia’s Public Investment Fund has agreed to provide roughly $10 billion of the nearly $24 billion to Paramount, run by David Ellison, the son of billionaire Oracle co-founder Larry Ellison. The deal, which is expected to include Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co., is likely to close as soon as Monday, the people said.
You have a right to Social Security after contributing to the system for multiple decades, but there are still a few things you can do to maximize your earnings. A higher payout makes it easier to maintain your current lifestyle and avoid selling assets in your nest egg to make ends meet. People who plan to retire in 2028 still have multiple opportunities to boost their Social Security benefits. T...
You have a right to Social Security after contributing to the system for multiple decades, but there are still a few things you can do to maximize your earnings. A higher payout makes it easier to maintain your current lifestyle and avoid selling assets in your nest egg to make ends meet. People who plan to retire in 2028 still have multiple opportunities to boost their Social Security benefits. These strategies are simple but effective. Image source: Getty Images. Continue reading
Mike Coppola/Getty Images Entertainment Paramount ( PSKY ) has lined up nearly $24 billion in equity commitments from Middle Eastern sovereign wealth funds to support its planned acquisition of Warner Bros. Discovery ( WBD ) , The Wall Street Journal reported, citing people familiar with the matter. The largest share of the funding is expected to come from Public Investment Fund , which has agreed...
Mike Coppola/Getty Images Entertainment Paramount ( PSKY ) has lined up nearly $24 billion in equity commitments from Middle Eastern sovereign wealth funds to support its planned acquisition of Warner Bros. Discovery ( WBD ) , The Wall Street Journal reported, citing people familiar with the matter. The largest share of the funding is expected to come from Public Investment Fund , which has agreed to contribute about $10 billion. Additional backing is coming from Qatar Investment Authority and Abu Dhabi-based L’imad Holding Co. . The financing package will help support Paramount’s $81 billion bid for Warner Bros. Discovery ( WBD ), a deal that remains under regulatory review in Europe and could close as early as this summer. Strategic backing amid geopolitical tensions The commitments arrive as geopolitical instability in the Middle East intensifies, driven by the ongoing conflict involving the U.S., Israel and Iran. Despite that backdrop, Gulf investors appear to be doubling down on global media and entertainment assets. The new capital is designed to ease the financial burden on Paramount’s lead backers, including David Ellison and RedBird Capital Partners. The company has indicated the deal would proceed regardless, with the Ellison family prepared to fully fund the equity portion if necessary. Limited influence for foreign investors Paramount does not expect the involvement of these sovereign funds to trigger national security or regulatory concerns in the United States. Each investor is expected to hold a relatively small stake, below thresholds that typically prompt reviews by bodies such as the Committee on Foreign Investment in the U.S. or the Federal Communications Commission. The investors are also not expected to receive voting control in the combined company. Deal reshaped after competitive bidding Paramount’s acquisition effort followed a competitive process in which Warner had initially agreed to sell to another bidder before Paramount improved its off...