Deep dive: Hundreds of thousands of Louisiana homeowners, many of them still digging out of Hurricane Ida’s destruction, will soon see rising flood insurance bills. But the federal government is providing few details about how much its recalculation of rates will boost premiums beyond the first year, according to an Associated Press analysis of the issue. Insurers, homeowners and politicians getting their first glimpses at cost increases residents in south Louisiana and other coastal regions might see from the National Flood Insurance Program are starting to sound alarms. Read more.
Spike: The price of a barrel of crude oil jumped by 3%, or $2.32, to $78.17 on the New York Mercantile Exchange this morning after OPEC and allied oil producing countries agreed to stay with their cautious approach to restoring oil production slashed during the pandemic, agreeing to add 400,000 barrels per day in November. Read the full story.
Retail shift: Amazon is rolling out “Black Friday-worthy deals” earlier than ever, USA Today reports, and the announcement from the e-commerce giant is emblematic of shifts across the retail sector as companies try to cater to changing consumer habits and supply chain slowdowns. Amazon announced this morning plans to roll out “deep discounts” across all categories, including fashion, home, beauty, toys, electronics and its own devices. Read the full story.