USA OUTLOOK April 15 TO 19

USA OUTLOOK

April 15 TO 19

FBI opens criminal probe in Baltimore bridge collapse; fourth body recovered

The FBI said on Monday it opened a criminal probe into the collapse of a Baltimore bridge in March when a ship crashed into a bridge support, while local officials confirmed the recovery of a fourth body from the incident.

FBI agents boarded the cargo ship Dali to conduct court-authorized law enforcement activity regarding the crash, an FBI spokesperson said. The spokesperson said there was no other public information available and the bureau will have no further comment.

The body of a fourth victim was recovered on Monday after divers spotted what they believed to be a missing construction vehicle, inside which they found the body, the Key Bridge Unified Command said in a statement. Details surrounding the victim's identity were not made public at the request of family.

US homebuilding retreats; manufacturing turning the corner

U.S. single-family homebuilding tumbled in March, and while new construction remains underpinned by a severe shortage of previously owned houses for sale, a resurgence in mortgage rates is pushing potential buyers to the sidelines.

The report from the Commerce Department on Tuesday also showed permits for future construction of single-family houses fell to a fivemonth low. Residential investment rebounded in the second half of 2023 after contracting for nine straight quarters, the longest such stretch since the housing market collapse in 2006. But the recovery appears to be losing steam.

"The housing recovery has stalled for now as home builderexpectationsofsharply lowerinterest rates this year have faded," said Christopher Rupkey, chief economist at FWDBONDS. "One thing is for certain, and that is home prices are going to be on an upward, more unaffordable trend without more supply."

https://www.reuters.com/world/us/fbi-opens-criminal-probe-into-maryland-bridgecollapse-washington-post-says-2024-04-15/

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US lawmakers introduce bill to support nuclear fusion development

U.S. senators from both parties introduced legislation on Thursday to accelerate development of power plants run by nuclear fusion reactions, an emerging technology that one day could help fight climate change.

The bill was introduced by Senators Alex Padilla, a Democrat, John Cornyn, a Republican, and others.

WHY IT'S IMPORTANT

It is unclear whether fusion, which aims to replicate the process that fuels the sun by fusing two light atoms together to create energy, will ever be harnessed on Earth to generate power.

If scientists and companies succeed, it could be a power source that emits virtually no greenhouse gas emissions and does not create large amounts of long-lasting radioactive waste. Countries including Japan, the U.K. and China are also pursuing fusion.

States sue to block US rules curbing tailpipe emissions in cars, light trucks

Republican attorneys general from 25 states on Thursday sued the U.S. Environmental Protection Agency to block rules intended to reduce planetwarming emissions from cars and light trucks and encourage electric vehicle manufacturing, arguing the agency exceeded its legal authority.

The lawsuit challenging the regulations for passenger vehicles, finalized on March 20 by President Joe Biden's administration, was filed by attorneys general from states led by Kentucky and West Virginia in the U.S. Court of Appeals for the District of Columbia Circuit.

The EPA rules aim to cut fleetwide tailpipe emissions for cars and light trucks by nearly 50% over 2026 levels in 2032, and reduce greenhouse gas emissions by 7.2 billion tons through 2055.

Kentucky Attorney General Russell Coleman said the rules would harm the American economy, threaten jobs and raise prices while undermining the U.S. electricity grid. Coleman also said there is very little consumer interest in electric vehicles in his state.

https://www.reuters.com/world/uk/us-lawmakers-introduce-bill-support-nuclearfusion-development-2024-04-18/

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US designates PFAS chemicals as Superfund hazardous substances

The U.S. Environmental Protection Agency on Friday designated a pair of widely used industrial chemicals as hazardous substances under the country's Superfund program, accelerating a crackdown on toxic compounds known as "forever chemicals."

The rule will require companies to report leaks of two of the most commonly used per- and polyfluoroalkyl substances, or PFAS, and help pay to clean up existing contamination.

The EPA separately last week announced its first-ever drinking water standards to guard against PFAS pollution.

PFAS are a family of thousands of chemicals used in consumer and commercial products like firefighting foams, nonstickpansandstain resistantfabrics. Theyhavebeenlinkedtocancer andotherhealthconcerns, and are often called forever chemicals because they do not easily break down in the human body or the environment.

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https://www.reuters.com/business/environment/us-designates-pfas-chemicalssuperfund-hazardous-substances-2024-04-19/

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