Death toll from Brazil floods at least 91, with dozens lost

Death toll from Brazil floods at least 91, with dozens lost


An aerial view from Olinda region of Recife after floods and landslides caused by heavy rains in Pernambuco, Brazil on May 29, 2022. Authorities in northeastern Brazil’s Pernambuco state said Monday that 91 deaths have been confirmed from flooding over the weekend, with more two dozen people still missing.

Diogo Duarte | Anadolu Agency | Getty Images

Authorities in northeastern Brazil’s Pernambuco state said Monday that 91 deaths have been confirmed from flooding over the weekend, with more two dozen people still missing.

Hundreds of state and federal rescue workers were searching for 26 people currently unaccounted for, according to the official statement.

Brazil’s President Jair Bolsonaro on Monday flew over the affected area of Pernambuco’s capital, Recife, and neighboring Jaboatao dos Guararapes. Speaking to reporters afterward, he said that landing in the helicopter wasn’t possible due to the soaked soil.

He also noted the country has recently experienced similar disasters in the mountains above Rio de Janeiro, in southern Bahia state and in Minas Gerais state.

“Unfortunately, these catastrophes happen in a continent-sized country,” he said. “We’re all obviously sad. We express our sympathy to family members. Our bigger objective is to comfort families and also, with material means, attend to the population.”

The government is moving to make funds available to municipalities that have declared a state of emergency, Daniel Ferreira, the minister of regional development, said at the press conference. He also highlighted a new credit line available to cities afflicted by such disasters.

Experts say climate change contributes to more intense rainfall, and the Intergovernmental Panel on Climate Change has classified Recife’s metropolitan region as one of the world’s most vulnerable cities. The low-lying metro region is set at the delta of three rivers, features floodplains and a network of dozens of canals and is home to some 4 million people.

In March, Recife became the first Latin American city to sign on for participation in a program to that will create insurance against climate disasters created by a network of local and regional governments and financed by German development bank KfW.

The state’s civil defense authority said in a statement that the flooding has displaced 5,000 people from their homes, and has reinforced its alert about still-high risk of landslides. Rain has continued, albeit with less intensity.



Source

Stock futures inch higher after the S&P 500 posts another record, Wall Street awaits earnings: Live updates
World

Stock futures inch higher after the S&P 500 posts another record, Wall Street awaits earnings: Live updates

Traders work on the floor of the New York Stock Exchange. NYSE U.S. stock futures ticked up on Monday night after the S&P 500 and Nasdaq Composite closed the regular session with new records. S&P 500 futures and Nasdaq Composite futures each added about 0.2%. Futures tied to the Dow Jones Industrial Average gained 61 […]

Read More
Investors usually ‘sell in May and go away.’ Why that may not work this year
World

Investors usually ‘sell in May and go away.’ Why that may not work this year

“Sell in May and go away?” Some market participants say it could be better to wait and see this year. The old stock market adage speaks to the phenomenon in which the May-through-October stretch has seasonally borne out to be the worst six-month period of returns for stocks. With traders leaving their desks during the […]

Read More
Nvidia, Intel call buyers defy the dip in chip stocks
World

Nvidia, Intel call buyers defy the dip in chip stocks

Semiconductor stocks are on the verge of posting their biggest down day since March 30, as a huge early rally in Qualcomm completely reversed after the opening bell. The VanEck Semiconductor ETF (SMH) is now down about 1%, but call buyers in at least two key chip stocks are looking for further gains. One of […]

Read More