Superstorm Sandy cut a path of destruction that could near $50 billion. Economic activity in New York City dipped 20 percent in storm’s wake, but economists do not expect that Sandy will have a major impact on the nation’s economic growth.
With New York’s airports closed and thousands of flights cancelled, it will take days for air travel to return to normal after hurricane Sandy. But precautions taken by airlines could ease the process.
At an AARP conference Friday, GOP vice presidential nominee Paul Ryan spoke of financial peril ahead for Medicare and contrasted his party’s “competition”-based plan to fix it with Obama’s plan under the health-care reform law.
Concerns for the health of European banks took center stage for global financial markets Wednesday, as hopes rose that eurozone nations would agree on a support package for the ailing Spanish banking system.