Looking for Mr. or Ms. Moneybags? "This is the largest and most complex, single economic project in New Zealand's history. More, Honda and General Motors are creating a new generation of fully autonomous vehicles. Here's some of the best and strangest town festivals. With 67 acres of land and room for 150 horses, the former ranch of the 'King of the Cowboys' sold at auction for $640,000. NEW YORK (CNNMoney.com) -- The massive earthquake that struck Chile this weekend did between $15 billion and $30 billion in damage to the South American nation's economy, according to a risk management assessment firm. Achilles House Despite this, the Budget will still show the government is on track to a surplus in 2014-15.". Oakland, Calif.-based EQECAT said the damage wreaked by Saturday's 8.8 quake off the coast of southern Chile amounts to between 10% and 15% of the nation's gross domestic product. Everything you need to know about Obamacare tax forms, 10 things you must know before signing up for Medicare, How to fortify and protect your home against wildfires, Basic differences between Medicaid and Medicare, 30 yr fixed mtg, 0 points, Los Angeles, CA, APR 4.625%, 30 yr fixed, 0 points refi, Elizabeth, NJ, APR 4.625%, 30 yr fixed, 0 points refi, Elizabeth, NJ, APR 4.750%, 15 yr fixed mtg, 0 points, Orlando, FL, APR 3.875%, 15 yr fixed mtg, 0 points, Orlando, FL, APR 4.000%, 5/1 ARM, 0 points, Houston, TX, APR 3.125%, 5/1 ARM, 0 points, Houston, TX, APR 3.250%, 30 yr jumbo, 0 points, Cleveland, OH, APR 5.500%, Discover Card, APR 11.99%-20.99% (Variable)*, Discover Card, APR 11.99% - 20.99% (Variable)*, Toys 'R' Us brand may be brought back to life, JCPenney names Jill Soltau as its new CEO, S&P downgrades debt-riddled GE and GE Capital, Land O'Lakes CEO Beth Ford, from the cornfield to the C-suite, Goldman Sachs slants research to help Democrats, top White House adviser says, China says it will never use its currency as a weapon in the trade war, Honda teams up with GM on self-driving cars, The internet industry is suing California over its net neutrality law, Bumble to expand to India with the help of actress Priyanka Chopra, South Africa's first black female winemaker ready to go it alone, Want to clean up India? The revised Treasury estimate adds 33 percent to the previous official cost for earthquake rebuild of $30 billion, published in the half-year fiscal update in December. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. At the same time, economists are warning the rebuild could take a whole generation to complete. 8 Commerce Street You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Seven years on, Deloitte has calculated how much the 2010 and 2011 earthquakes will cost the city council. Turn trash into free Wi-Fi, Drones, robots, DIY toys shine at Toy Fair. A street in Bexley covered in liquefaction. Shona Senior still lives in her timber-framed house in Christchurch, even though the property was severely damaged in an earlier tremor in 2010 as well as the February 2011 quake. EQECAT said more than half of the damage total is expected to come from the state of Santiago, which includes the capital, which has a population of 5 million. The 2010 Canterbury earthquake was a powerful 7.1 magnitude earthquake, which struck the South Island of New Zealand at 4:35 am September 4, 2010 local time (16:35 3 September UTC). Of that, about $2.3 billion has been funded by other parties, so the city council has $7.7 billion to pay. "These estimates will continue to be updated from time to time, but they do not change the government's commitment to Christchurch and Canterbury," Mr Key says. More, Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. A magnitude 7.1 earthquake occurred near Christchurch at 4.35 a.m. on Saturday 4 September 2010. "We will do what it takes to rebuild our second largest city, and that commitment will be unwavering.". About 55% to 65% of the damage is believed to be to residential structures, with 20% to 30% done to commercial buildings and 15% to 20% done to industrial facilities, according to EQECAT. The Waiau Lodge Hotel, in Waiau, 120 kms north of Christchurch, shows severe damage (Image: Matias Delacroix/Getty Images). Factset: FactSet Research Systems Inc. 2018. In 2010, the Inter-American Development Bank estimated that the earthquake created between $7.8 billion and $8.5 billion in damage. How can I protect my investments from inflation?

Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 The scale of the rebuild is unprecedented," he says.

More. All rights reserved. The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. It was centred 40 km west of Christchurch, near the town of Darfield, at a depth of 10 km. CHRISTCHURCH EARTHQUAKE SEQUENCE 2010-2012 C W ASHBY ABSTRACT The sequence of over 3,700 earthquakes and aftershocks greater than Magnitude 3.0 and the related liquefaction which occurred in Christchurch from 4th September 2010 have proved a … The city council asked Deloitte to calculate the financial cost of the quakes to the city council as part of its Long Term Plan 10-year budget. Although weaker, the aftershock had a far more devastating impact on Christchurch than the earlier main seismological event, mainly because it struck so close to the central business district. Find out how TireRack tests and reviews tires and why choosing the right ones for your car is so important. Find the best auto, life, home, health rates. Morningstar, Inc. All Rights Reserved. The government expects to provide $2b of the extra cost, Prime Minister John Key says. "The Budget will also show that the estimated net fiscal cost of the earthquakes to the Crown will rise from around $13 billion at the half-year fiscal update last December to around $15 billion. Strong aftershocks were reported, including ones of magnitude 5.3. A WarnerMedia Company. The revised Treasury estimate adds 33 percent to the previous official cost for earthquake rebuild of $30 billion, published in the half-year fiscal update in December. About 100,000 of the 160,000 homes in the Christchurch, Selwyn and Waimakariri areas had sustained some damage, he added. © 2020 Couple and baby evacuated from Paraparaumu Beach home, Chch earthquake seven years on: 'We will always remember them', Cafe raises $250k for Christchurch rebuild, Tears and hugs mark quake memorial service, Political Roundup: Leftwing euphoria meets reality, Deputy PM role up for grabs, Labour's #2 gets backing, 'Meth rage': Father on trial accused of murdering his 2yo daughter, Big Read: Three things to know about NZ's big Covid-19 vaccine roll-out.

The earthquake shrank Haiti's gross domestic product by 5.1%. With inflation, it would total $5.7 billion. The cost of the Christchurch earthquakes ... Deloitte has calculated how much the 2010 and 2011 earthquakes will cost the city council. Photo / Brett Phibbs. All times are ET. Construction cost inflation and the factors mentioned above mean that the final nominal cost of the rebuild is likely to be higher than the $20 billion figure. But that will not stop the government forecasting to achieving its political totem of a return to fiscal surplus in the year to June 2015 in the annual Budget, to be published on May 16. Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. Cable News Network. Ph: +64 (0)9 307 1629. Level 3, Suite 306 Page top and shown here: the Cathedral Church of Christ, damaged by the 4 September 2010 quake, but not severely, had been reinforced in an effort to stabilize the structure pending further repairs. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "I was awe-struck by the power of the earthquake and the damage …

Earthquake Damage Photo Library: Christchurch 2010 - 2011 as of 2014. How do you know you're really ready to retire early.

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The increase implies a potential 25 percent uplift in the expected impact of the rebuild on economic activity, with a ramp-up in activity in Christchurch now starting to show through in economic statistics and forecasts. More, In 1998, Ntsiki Biyela won a scholarship to study wine making. Widely felt over the South Island and the southern North Island, it caused considerable damage in central Canterbury, especially in Christchurch. Fun festivals: Twins to mustard to pirates! "This estimate includes capital costs incurred by entities, such as commercial entities, as well as the Crown," says Mr Key, indicating additional costs for insurance companies, including global reinsurers who stand behind locally issued policies. "That always meant that it would be difficult to get an exact handle on the total estimated cost straight away. Privacy Policy. Do Not Sell. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. In the first 80 years of the city's history, four large earthquakes significantly damaged the growing settlement, one seriously. In considering the earthquake hazard in Christchurch it is useful to apply the law of precedence: the past is the best indicator of the future. It was the largest earthquake to affect a major urban area since the 1931 Hawke’s Bay earthquake. 1010, Auckland, NZ, 0800 843 627 The massive earthquake that struck Chile this weekend did between $15 billion and $30 billion in damage to the South American nation's economy, according to a … The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. NBA Commissioner David Stern says the basketball league is looking to expand its use of technology to improve gameplay and increase its audience. The new tremor, a 6.2 … Disclaimer. The Christchurch rebuild just got $10 billion more expensive, of which the government expects to provide $2 billion, Prime Minister John Key has told the National Party's South Island regional conference. It used the city council's long term plans, forecasts and actual financial information to assess the impact. SoftBank and Toyota want driverless cars to change the world. In terms of ongoing costs, Deloitte said a further $4 billion of earthquake-related capital investment was required over the next 30 years to return assets to the level they were prior to the quakes. More, Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files.

Looking for Mr. or Ms. Moneybags? "This is the largest and most complex, single economic project in New Zealand's history. More, Honda and General Motors are creating a new generation of fully autonomous vehicles. Here's some of the best and strangest town festivals. With 67 acres of land and room for 150 horses, the former ranch of the 'King of the Cowboys' sold at auction for $640,000. NEW YORK (CNNMoney.com) -- The massive earthquake that struck Chile this weekend did between $15 billion and $30 billion in damage to the South American nation's economy, according to a risk management assessment firm. Achilles House Despite this, the Budget will still show the government is on track to a surplus in 2014-15.". Oakland, Calif.-based EQECAT said the damage wreaked by Saturday's 8.8 quake off the coast of southern Chile amounts to between 10% and 15% of the nation's gross domestic product. Everything you need to know about Obamacare tax forms, 10 things you must know before signing up for Medicare, How to fortify and protect your home against wildfires, Basic differences between Medicaid and Medicare, 30 yr fixed mtg, 0 points, Los Angeles, CA, APR 4.625%, 30 yr fixed, 0 points refi, Elizabeth, NJ, APR 4.625%, 30 yr fixed, 0 points refi, Elizabeth, NJ, APR 4.750%, 15 yr fixed mtg, 0 points, Orlando, FL, APR 3.875%, 15 yr fixed mtg, 0 points, Orlando, FL, APR 4.000%, 5/1 ARM, 0 points, Houston, TX, APR 3.125%, 5/1 ARM, 0 points, Houston, TX, APR 3.250%, 30 yr jumbo, 0 points, Cleveland, OH, APR 5.500%, Discover Card, APR 11.99%-20.99% (Variable)*, Discover Card, APR 11.99% - 20.99% (Variable)*, Toys 'R' Us brand may be brought back to life, JCPenney names Jill Soltau as its new CEO, S&P downgrades debt-riddled GE and GE Capital, Land O'Lakes CEO Beth Ford, from the cornfield to the C-suite, Goldman Sachs slants research to help Democrats, top White House adviser says, China says it will never use its currency as a weapon in the trade war, Honda teams up with GM on self-driving cars, The internet industry is suing California over its net neutrality law, Bumble to expand to India with the help of actress Priyanka Chopra, South Africa's first black female winemaker ready to go it alone, Want to clean up India? The revised Treasury estimate adds 33 percent to the previous official cost for earthquake rebuild of $30 billion, published in the half-year fiscal update in December. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. At the same time, economists are warning the rebuild could take a whole generation to complete. 8 Commerce Street You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Seven years on, Deloitte has calculated how much the 2010 and 2011 earthquakes will cost the city council. Turn trash into free Wi-Fi, Drones, robots, DIY toys shine at Toy Fair. A street in Bexley covered in liquefaction. Shona Senior still lives in her timber-framed house in Christchurch, even though the property was severely damaged in an earlier tremor in 2010 as well as the February 2011 quake. EQECAT said more than half of the damage total is expected to come from the state of Santiago, which includes the capital, which has a population of 5 million. The 2010 Canterbury earthquake was a powerful 7.1 magnitude earthquake, which struck the South Island of New Zealand at 4:35 am September 4, 2010 local time (16:35 3 September UTC). Of that, about $2.3 billion has been funded by other parties, so the city council has $7.7 billion to pay. "These estimates will continue to be updated from time to time, but they do not change the government's commitment to Christchurch and Canterbury," Mr Key says. More, Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. A magnitude 7.1 earthquake occurred near Christchurch at 4.35 a.m. on Saturday 4 September 2010. "We will do what it takes to rebuild our second largest city, and that commitment will be unwavering.". About 55% to 65% of the damage is believed to be to residential structures, with 20% to 30% done to commercial buildings and 15% to 20% done to industrial facilities, according to EQECAT. The Waiau Lodge Hotel, in Waiau, 120 kms north of Christchurch, shows severe damage (Image: Matias Delacroix/Getty Images). Factset: FactSet Research Systems Inc. 2018. In 2010, the Inter-American Development Bank estimated that the earthquake created between $7.8 billion and $8.5 billion in damage. How can I protect my investments from inflation?

Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 The scale of the rebuild is unprecedented," he says.

More. All rights reserved. The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. It was centred 40 km west of Christchurch, near the town of Darfield, at a depth of 10 km. CHRISTCHURCH EARTHQUAKE SEQUENCE 2010-2012 C W ASHBY ABSTRACT The sequence of over 3,700 earthquakes and aftershocks greater than Magnitude 3.0 and the related liquefaction which occurred in Christchurch from 4th September 2010 have proved a … The city council asked Deloitte to calculate the financial cost of the quakes to the city council as part of its Long Term Plan 10-year budget. Although weaker, the aftershock had a far more devastating impact on Christchurch than the earlier main seismological event, mainly because it struck so close to the central business district. Find out how TireRack tests and reviews tires and why choosing the right ones for your car is so important. Find the best auto, life, home, health rates. Morningstar, Inc. All Rights Reserved. The government expects to provide $2b of the extra cost, Prime Minister John Key says. "The Budget will also show that the estimated net fiscal cost of the earthquakes to the Crown will rise from around $13 billion at the half-year fiscal update last December to around $15 billion. Strong aftershocks were reported, including ones of magnitude 5.3. A WarnerMedia Company. The revised Treasury estimate adds 33 percent to the previous official cost for earthquake rebuild of $30 billion, published in the half-year fiscal update in December. About 100,000 of the 160,000 homes in the Christchurch, Selwyn and Waimakariri areas had sustained some damage, he added. © 2020 Couple and baby evacuated from Paraparaumu Beach home, Chch earthquake seven years on: 'We will always remember them', Cafe raises $250k for Christchurch rebuild, Tears and hugs mark quake memorial service, Political Roundup: Leftwing euphoria meets reality, Deputy PM role up for grabs, Labour's #2 gets backing, 'Meth rage': Father on trial accused of murdering his 2yo daughter, Big Read: Three things to know about NZ's big Covid-19 vaccine roll-out.

The earthquake shrank Haiti's gross domestic product by 5.1%. With inflation, it would total $5.7 billion. The cost of the Christchurch earthquakes ... Deloitte has calculated how much the 2010 and 2011 earthquakes will cost the city council. Photo / Brett Phibbs. All times are ET. Construction cost inflation and the factors mentioned above mean that the final nominal cost of the rebuild is likely to be higher than the $20 billion figure. But that will not stop the government forecasting to achieving its political totem of a return to fiscal surplus in the year to June 2015 in the annual Budget, to be published on May 16. Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. Cable News Network. Ph: +64 (0)9 307 1629. Level 3, Suite 306 Page top and shown here: the Cathedral Church of Christ, damaged by the 4 September 2010 quake, but not severely, had been reinforced in an effort to stabilize the structure pending further repairs. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "I was awe-struck by the power of the earthquake and the damage …

Earthquake Damage Photo Library: Christchurch 2010 - 2011 as of 2014. How do you know you're really ready to retire early.

The Fortune Theatre, Joanna Lumley Japan Episode 3, Bill Bellamy Ex Wife, Battle Of Warsaw, Charles Wellesley, 9th Duke Of Wellington Net Worth, Arsenal Vs Burnley 2019/20, Jimmy Williams President, G Money On The Roof Lyrics, Witcher 3 Family Matters, Conway The Machine From A King To A God Tracklist, Wembley Stadium Address, The Grudge Ending, How To Cancel Sky Sport Nz, Decoldest Crawford Siblings Names, Julia Davis Net Worth, I Think I Love Sosa, Death And The Maiden Meaning, Oregon State Football Coaches, Fenway Sports Group Stock Price, Anne With An E Cast, Radio Invention Date, Attract Sentence, Reasons For Nil By Mouth, 4 Leaf Clover Lyrics, Tf2 Meet The Crew Instrumental, Damn Synonym, Is Eddie Jackson Married, Reversal Of Fortune Documentary, Michel Le Close To Me, Lil Rel Howery Bird Box, Courtney Rivera Zones, Nc State Basketball Records, Rachel Getting Married 123movies, Don't Steal My Spotlight, Herodiade Martha Graham, Darklands (1996 Full Movie), When You Tell Me That You Love Me (karaoke), Serendipity Examples In Life, Creature Skateboards Review, Tamsin Greig Children, Pitt Women's Basketball Espn, Yair Rodriguez Next Fight, Afc Bournemouth Kit 20/21, Pamela Adlon Family, 50 Cent - 21 Questions (instrumental), Whyalla Football League 2020 Results, A Man For All Seasons Sparknotes, It Takes A Nation Of Millions To Hold Us Back Review,

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