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Tropical Storm Debby moving through Gulf toward Florida

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A tropical depression in the Gulf of Mexico strengthened into Tropical Storm Debby on Saturday as it moved through the Gulf of Mexico toward Florida.

Forecasters at the National Hurricane Center said the storm now had maximum sustained winds of 40 mph. Debby was located about 100 miles west-southwest of Key West, Florida, and it was moving toward the northwest at 15 mph.

Wind and thunderstorms have spread over a broad region, including southern Florida, the Florida Keys and the Bahamas.

Debby is likely to bring drenching rain and coastal flooding to much of Florida’s Gulf Coast by Sunday night, and predictions show the system could come ashore as a strong tropical storm or hurricane Monday and cross over northern Florida into the Atlantic Ocean.

Forecasters warn it could also drop heavy rains over north Florida and the Atlantic coasts of Georgia, South Carolina and North Carolina early next week.

Debby is the fourth named storm of the 2024 Atlantic hurricane season after Tropical Storm Alberto, Hurricane Beryl and Tropical Storm Chris, all of which formed in June.

The National Hurricane Center in Miami forecast that the system will strengthen as it curves off the southwest Florida coast, where the water has been extremely warm with temperatures approaching 92 degrees Fahrenheit (33 Celsius) this week.

System could make landfall as strong tropical storm or hurricane

Predictions show Debby could come ashore as strong tropical storm or hurricane on Monday and cross over northern Florida into the Atlantic Ocean, where it’s likely to remain a tropical storm threatening Georgia and the Carolinas early next week.

Tropical storm warnings were posted for most of Florida’s West Coast and the Dry Tortugas, and a hurricane watch was issued for parts of the Big Bend and Florida Panhandle. A warning means storm conditions are expected within 36 hours, while a watch means they are possible within 48 hours.

Tropical storms and hurricanes can trigger river flooding and overwhelm drainage systems and canals. Forecasters warned of 5 to 10 inches (125 mm to 250 mm) of rain, which could create “locally considerable” flash and urban flooding. Forecasters also warned of moderate flooding for some rivers along Florida’s West Coast.

Some of the heaviest rains could actually come next week in a region along the Atlantic Coast from Jacksonville, Florida, to the north through coastal regions of Georgia, South Carolina and North Carolina. The storm is expected to slow down after making landfall.

“We could see a stall or a meandering motion around coastal portions of the southeastern United States,” National Hurricane Center Director Michael Brennan said in a Saturday briefing. “So that’s going to exacerbate not just the rainfall risk, but also the potential for storm surge and some strong winds.”

Flat Florida is prone to flooding even on sunny days, and the storm is predicted to bring a surge of 2 to 4 feet (0.6 to 1.2 meters) along most of the Gulf Coast, including Tampa Bay, with a higher tide of 3 to 5 feet (0.9 to 1.5 meters) farther north in the sparsely populated Big Bend region.

Forecasters warned of “a danger of life-threatening storm surge inundation” in a region that includes Hernando Beach, Crystal River, Steinhatchee and Cedar Key. Officials in Citrus and Levy counties ordered a mandatory evacuation of coastal areas, while those in Hernando, Manatee, Pasco and Taylor counties called for voluntary evacuations. Shelters opened in those and some other counties.

A tropical storm warning was posted for the southern end of the Florida Keys, and multiple wind gusts above 45 mph were recorded.

Preparations underway in Florida to guard against flooding

Florida Gov. Ron DeSantis has declared a state of emergency for 61 of the state’s 67 counties, with the Florida National Guard activating 3,000 guard members.

In Tampa alone, officials gave out more than 30,000 sandbags to barricade against flooding.

“We’ve got our stormwater drains cleared out. We’ve got our generators all checked and full. We’re doing everything that we need to be prepared to face a tropical storm,” Tampa Mayor Jane Castor said.

Christina Lothrop is the general manager at Blue Pelican Marina in Hernando Beach, a barrier island about 50 miles (80 kilometers) north of St. Petersburg. She said Saturday still seemed like a regular summer day, with the public ramp across the street jammed with people launching boats.

“Today it’s kind of normal, which is kind of weird,” Lothrop told The Associated Press by telephone.

Workers at her marina have been getting ready since Tuesday, however, securing boats stored on racks, stowing tool boxes and tying everything down.

“Right now what we’re doing is mostly tying up boats,” Lothrop said.

Before closing time Saturday, Lothrop planned to raise computers off the floor and sandbag and tape doors. Last year’s Hurricane Idalia pushed about a foot of water (30 centimeters) into the store.

Betti Silverman, whose home in Crystal River was under an evacuation order, said she doubted her family would leave. Silverman’s waterfront home flooded during Idalia just as they were moving in, ruining moving boxes and furniture stored in the garage. But she said the forecast for this storm is not as severe.

“We’ve been in Florida our whole lives — in South Florida — so hurricanes are not really a big, big thing,” Silverman said.

On Friday, crews pulled floating cranes away from a bridge construction project across Tampa Bay, lashing together 74 barges and 24 floating cranes and anchoring them until the storm passes, project engineer Marianne Brinson told the Tampa Bay Times. Crews also laid down cranes on land on their sides.

Pinellas County paused a $5 million beach renourishment project necessitated in part by erosion from past storms.

For some, the name Debby summons bad memories of a 2012 tropical storm of the same name that caused $250 million in losses and eight deaths, including seven in the Sunshine State. That storm dumped torrential rains up the West Coast into northern Florida, including an astronomical 29 inches (730 mm) south of Tallahassee.

More storms in the Pacific, but no threat to land

Meanwhile, far off Mexico in the Pacific Ocean, Hurricane Carlotta continued moving westward with maximum sustained winds of 90 mph (145 kph). The hurricane center said Carlotta should begin losing strength on Sunday and is likely to dissipate into a remnant of thunderstorms in three to four days.

Farther west Tropical Storm Daniel formed in the Pacific on Saturday, but it was 1,500 miles (2,400 km) from the southern tip of Baja California and was also expected to dissipate without striking land.



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Exclusive-Boeing delays suppliers’ 737 MAX output goal by 6 months, sources say By Reuters

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By Allison Lampert

(Reuters) – Boeing (NYSE:) Co has told suppliers it is delaying a key production milestone for its 737 MAX by six months, three industry sources said, in a sign the planemaker is struggling to boost production of its best-selling jet.

Boeing’s latest 737 supplier master schedule communicated to the industry calls for MAX output to reach 42 a month in March 2025, compared with a previous target of September 2024, the sources told Reuters.

Boeing has been struggling to recover production of its top single-aisle passenger plane due to additional safety and regulatory checks since a door panel dramatically flew off a 737 MAX jet in midair in January.

While the so-called master schedule is a demand signal, it is not an official production target. Boeing has not changed its official plane production target, which calls for 38 MAX jets a month by the end of 2024, up from roughly 25 jets a month in July.

When asked about the master schedule, a Boeing spokesperson directed Reuters to second quarter comments made by CFO Brian West in late July.

“On the master schedule, we continue to make adjustments as needed and manage supplier by supplier based on inventory levels,” West said. “Our objective remains to keep the supply chain paced ahead of final assembly to support stability.”

© Reuters. FILE PHOTO: Boeing 737 MAX aircraft are assembled at the company’s plant in Renton, Washington, U.S. June 25, 2024. Jennifer Buchanan/Pool via REUTERS/File Photo

In an effort to align with Boeing’s lower production, supplier Spirit AeroSystems (NYSE:) in August temporarily lowered its monthly output of fuselages for the 737 MAX to 21 a month from 31, reducing demand for parts from its own supply chain, a senior industry source told Reuters.

Spirit AeroSystems spokesperson Joe Buccino said “we make adjustments of delivery and production rates with our suppliers in accordance with our supplier agreements.”





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US accuses Google of dominating ad tech market as antitrust trial begins

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The US Department of Justice accused Google of running a massive ad tech monopoly that cut off potential rivals and drove up costs for publishers and advertisers in an attempt to maximise profits, as the latest antitrust trial against Big Tech got under way on Monday.

“No one wins” — except Google, a lawyer for the DoJ, Julia Tarver Wood, said during her opening statement in a federal court in Virginia.

The trial comes just weeks after a judge in Washington issued a landmark verdict in another DoJ antitrust case against Google, finding it had monopolised the market for online search. A decision on how to punish Google is expected next year.

Both cases are part of a growing push to rein in the power of Big Tech by antitrust enforcers in Washington, who have brought sweeping cases challenging the market power of the likes of Amazon, Meta and Apple.

The government’s current case against Google strikes at the heart of the lucrative business to display online ads such as the ones at the top or side of a screen. The DoJ, along with 17 states, argued in the lawsuit that Google dominates that business — from publishers that sell ads to the advertisers that create them — and the platform that matches the two sides. 

The DoJ said Google’s cut can be 37 cents of every advertising dollar when it matches buyers and sellers, and said it controls a roughly 90 per cent share of the markets for ad servers and advertiser networks worldwide.

Google has argued in response that it does not have a monopoly and instead offers a superior product in a highly competitive market. Karen Dunn, who represented Google, said the company has transformed the ad tech market, competes “millisecond by millisecond” for every ad impression against an array of other companies, and “grew the pie” for all businesses in the sector over the past two decades through its innovation.

Dunn repeatedly charged that the government did not understand the business — and it cannot compel the company to give its tech to competitors. The government’s case against Google is based on analysis “that is not commercial reality” and “made up” for the purpose of litigation, she said.

She said Google would offer as witnesses the company’s engineers and designers, as well as government officials at the US Census and US military veterans, who used Google for recruitment and suicide prevention advertising.

Ultimately, Dunn argued it was not publishers, advertisers or customers who would benefit if Google lost, but the tech giant’s major competitors who have gained market share: Microsoft, Amazon, Meta and TikTok. She added the case was also backwards-looking, given the rapidly evolving nature of artificial intelligence.

The US government was looking “through the lens of ancient history”, said Dunn, a partner at Paul Weiss. She was also expected to help Democratic vice-president and presidential candidate Kamala Harris prepare for Tuesday’s presidential debate.

US District Judge Leonie Brinkema, 80, who was appointed to the bench by then-president Bill Clinton, will decide the case after the conclusion of the trial, which is expected to last for several weeks.

Additional reporting by Stephen Morris and Stefania Palma



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Climate First Bank review: An environmentally conscious bank with generous APYs

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Founded in 2021, Climate First Bank is a Florida community bank focused on environmental sustainability. In addition to providing multiple personal and business accounts, it has a goal of reversing the climate crisis by contributing 1% of its revenue to environmental causes. In this Climate First Bank review, we’ll focus on its personal deposit accounts.

All rates and fees are current as of September 9, 2024, and are subject to change.

Climate First Bank






Checking accounts: Starting at $0 per month
Savings accounts: Open with as little as $50
Certificate of deposit (CD) rates: Earn up to 5.34% annual percentage yield (APY)


Climate First Bank rates and products

Climate First Bank has four different checking accounts, two savings accounts, one money market account (MMA), and several types of CDs to choose from.

Checking accounts

All of Climate First’s checking accounts are free checking accounts, meaning it doesn’t charge a monthly fee. There’s also no minimum balance requirement.

When you open either the Regeneration Checking and the Pride Checking account, Climate First Bank will make a $100 donation to Project Regeneration or an LGBTQ+ nonprofit, respectively. This is instead of a traditional checking account bonus. The other two accounts—the NetZero Checking and the Choice Checking—don’t come with a donation.

Note that there are direct deposit requirements to receive your $100 donation or earn the high 5.34% APY on the Choice Checking account. It’s $750 in the first 90 days for the donation accounts and $500 for the Choice account.

Savings accounts

Climate First’s single saving account option for adults is the Super Savings Account. Its 2.75% APY doesn’t quite qualify it as a high-yield savings account, as the best high-yield savings accounts have interest rates above 5%. One selling point of this account is the lack of withdrawal restrictions—many other banks limit you to six withdrawals per month.

Climate First also has a Minor Savings Account for children 17 years or younger. There’s no monthly service fee, but parents do need to be included on the account. 

Climate First Bank savings rates compared to current top rates*

While Climate First Bank is a great option, some institutions offer higher interest rates. Compare the rates above to this list of competitors:

Money market account  

An MMA combines the features of a savings and checking account. For this account in particular, you’ll enjoy unlimited withdrawals, debit card access, and one of the bank’s highest interest rates.

The Choice Money Market account has a 5.34% APY if you maintain a balance above $50,000, making it one of the best MMA rates. However, if your balance falls below that, you’ll only earn 0.05% APY, which is far below average.

Certificates of deposit

Climate Bank’s four CD terms are some of the best CD rates on the market right now. With a CD, you deposit your money for a set term in exchange for a fixed interest rate.

The two penalty-free CDs allow you to make one withdrawal per term without paying an early withdrawal penalty. There is also a Flex CD that lets you increase your rate once during the term. You can also make additional deposits up to half of your initial principal balance as well as withdraw up to half of your original deposit without penalty.

Other services Climate First Bank offers 

  • Health savings account (HSA): If you have a minimum balance of $1,000, you can waive the $2.50 monthly fee.
  • Individual retirement account (IRA) account: These are CD accounts specifically for your retirement funds.
  • Personal loans: These include some unique options like residential solar loans with 7.73% APR or personal lines of credit.
  • Home equity line of credit (HELOC): Climate First Bank recommends you use these to make energy efficiency improvements and upgrades to your home.
  • Home loans: These include mortgages and refinancing with 30-, 45-, and 60-day lock-in periods for interest rates.
  • Auto loans: Climate First Bank offers these specifically for the purchases of an electric or hybrid vehicle.
  • Business banking: Choose from business checking, savings, money market, trust, and CD accounts
  • Cash management: Businesses can get help with bill pay, remote deposits, accounting, and more.
  • Commercial lending: Businesses can take out Small Business Administration (SBA) loans, working capital lines of credit, construction loans, energy improvement loans, and more.

Online banking

On the Climate First Bank website, you can open an account, make transfers, pay bills, and more. Although Climate First Bank is focused in Florida, it does consider itself a digital bank, so it offers robust online account features.

The Climate First Bank platform and customer support

Climate First has separate apps for its personal and business customers, which should ensure your experience is tailored to your needs. Customers rate the app 4.9 stars on both the App Store and Google Play—higher than the ratings for most other banks. The app allows you to see your accounts and statements, make a transfer or loan payment, or perform a mobile deposit.

Contacting Climate First for help will require you to send it an email or call during business hours. Its hours are 9 a.m. to 5 p.m. Eastern time at all three locations. The bank is also closed during federal holidays. 

Is Climate First Bank secure?

Climate First Bank has not had any security incidents in the three years it’s been around. While it does post cybersecurity tips on its blog, it doesn’t provide insight into what its security protocols are. Therefore, we can’t advise whether this is a secure bank.

Climate First Bank user reviews

Climate First Bank has a cumulative 4.1 stars out of 5 across its three locations on Google Maps. Reviews say that the staff is very nice and jump in right away to help if there are any issues. Customers like how the bank has a wide variety of account options. Many also appreciate how the bank is socially and environmentally conscious. While the bank isn’t accredited with the Better Business Bureau (BBB), it does have an “A” rating with 5 out of 5 stars.

Compare Climate First Bank alternatives

The Climate First Bank.
Climate First Bank
SoFi logo
SoFi
The Ally Bank logo.
Ally Bank
Top savings APY Top savings APY Top savings APY
5.34% Up to 4.50%* 4.20%
Top checking APY Top checking APY Top checking APY
5.34% 0.50% 0.25%
Top CD APY Top CD APY Top CD APY
5.34% N/A 4.90%
Learn more Learn more Learn more
Compare more
online bank alternatives
View offer
at SoFi
View offer
at MoneyLion

*SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

Is Climate First Bank right for you?

Consider Climate First Bank if you’re looking for ways to offset your carbon footprint and be more environmentally conscious. The bank takes many steps to donate to eco-friendly causes as well as reduce its impact. The fact that it offers above-average APYs, a wide variety of accounts, a large ATM network, and easy account access are additional perks. However, if you don’t live in Florida and want in-person branch access, you’ll have to look elsewhere.

Frequently asked questions

Is Climate First Bank legit?

Yes, Climate First Bank is a legitimate community bank that was founded in 2021. It recently exited de novo status and is preparing to scale its operations outside of Florida.

Who is the founder of Climate First Bank?

Ken LaRoe is the founder and CEO of Climate First Bank. LaRoe has previously founded two other banks, including First GREEN Bank, which was the first bank in the Eastern United States with an environmental and social mission.

How big is Climate First Bank?

Climate First Bank currently provides services to over 10,700 business and personal account holders across the country. It has over $650 million in assets.



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