Stock Markets

Biden tours Florida’s storm-hit streets as Milton debris piles up

Published

2 months ago

October 14, 2024

By Trevor Hunnicutt

ST PETE BEACH, Florida (Reuters) -After surveying battered communities and debris-filled streets in Florida, President Joe Biden vowed on Sunday to continue supporting the state’s recovery from Hurricane Milton, the second major storm to pummel the region in recent weeks.

Rising floodwaters, fuel shortages and power outages are hindering cleanup efforts from the storm that made landfall as a Category 3 hurricane and residents struggling to rebuild their lives amid the compounded devastation left by both Milton and the earlier Hurricane Helene.

Residents of hard-hit St. Pete Beach are “heartbroken and exhausted and their expenses are piling up,” Biden said after touring the barrier island’s neighborhoods.

Street corners were filled with debris alongside felled palm trees and homes with busted pastel-painted garage doors as the smell of moldy building materials filled the air. Heaps of mattresses, siding, couches, microwave ovens, pillows and busted-up kitchen cabinets lined the roads, some still covered in large patches of sand, as Biden walked through with emergency responders. One photo album still lay scattered in the street.

“Help,” one resident asked Biden in lettering on one pile of destroyed household goods.

“I know you’re concerned about the debris removal, and it’s obvious why,” the president said, speaking in front of a collapsed beach house lifted from its foundation. “There’s much more to do. We’re doing everything we can.”

Meanwhile, flooding is expected to continue around the Tampa Bay and the Sanford area northeast of Orlando as river waters continue to rise, according to the National Weather Service’s website.

About 75% of Florida’s power is back online, with full restoration expected by Tuesday evening, said Energy Secretary Jennifer Granholm, who traveled with Biden. Five days after the storm hit, about 927,000 customers still do not have power, according to the PowerOutage.us website.

More gasoline distribution sites are also scheduled to open on Sunday, according to the state’s emergency operations center.

Still, recovery is expected to take a long time with the two storms hitting within two weeks of each other.

Biden’s visit offered a bird’s eye view of the destruction as his helicopter thundered along Florida’s western coast from Tampa to St. Petersburg over a landscape of golf courses, waterfront skyscrapers and battered neighborhoods, including the shredded roof of Tampa Bay Rays’ baseball stadium, Tropicana Field.

“It’s still a mess,” Sarasota Mayor Liz Alpert told ABC News’ “This Week” program, adding “it’s been heartening to see all of the outpouring of support and help that people have been offering.”

At least 17 deaths have been reported from Milton, far less than the more than 200 people killed by Helene, in part from what officials have said were more people heeding calls to evacuate.

‘A PATH FORWARD’

Climate change has been linked to stronger and faster hurricanes, with the two recent back-to-back storms pummeling Florida raising questions of infrastructure resiliency even as many residents vow to stay put.

While Milton was not as destructive as officials had initially forecast, analysts have estimated insured losses for between $30 billion and $60 billion.

Biden’s administration has approved federal aid to help residents and local governments cover expenses but has said the Federal Emergency Management Agency would need additional funding from the U.S. Congress even though it has enough now to meet immediate storm needs. On Sunday, he also announced $612 million for six new utility projects in affected communities.

Biden, a Democrat, reiterated his call for lawmakers — on recess until after the Nov. 5 election — to return to Washington to approve more FEMA money, telling reporters as he left the state Congress needs to move quickly: “It’s important.”

St. Pete Beach Mayor Adrian Petrila, speaking alongside Biden, echoed the call for help: “We’re concerned about the future of our town… We need continued federal resources, and we need a path forward to ensure that our community and all other communities, all other cities who were devastated just like this town, can emerge stronger than ever before.”

But Republican House Speaker Mike Johnson resisted White House and state lawmakers appeals to approve more disaster assistance, telling NBC News’ “Meet the Press” program: “The states have to go and calculate and assess the need and then they submit that to Congress, and that takes some time.”

Relief efforts have also been hampered by a trail of misinformation, including conspiracy theories about officials controlling the weather. Politics has also infiltrated recovery with just three weeks to go until the presidential election.

A number of local officials greeted or accompanied Biden on his tour, including Florida Republican U.S. Representative Anna Luna. The state’s Republican governor, Ron DeSantis, declined the White House invitation and Biden told reporters that he did not speak with DeSantis. DeSantis’ office was not immediately available for comment.

Stock Markets

SUBARU ANNOUNCES PRICING ON 2025 SOLTERRA ELECTRIC SUV WITH SIGNIFICANT PRICE REDUCTION

Published

5 hours ago

December 21, 2024

Starting price at $38,495 MSRP, $6,500 less than 2024 version, with same features
2025 Solterra Touring price reduced $7,000 compared to 2024 version
Debut of Solterra Touring Onyx Edition with gloss black wheels, exterior and interior trim accents
Standard Subaru (OTC:) ® Symmetrical All-Wheel Drive, best-in-class ground clearance of 8.3 inches

CAMDEN, N.J., Dec. 20, 2024 /PRNewswire/ — Subaru of America, Inc. announced pricing today on the 2025 Subaru Solterra all-electric SUV. One year after significant upgrades to charging performance, interior enhancements, and driver-assist technologies, the Solterra adds a new trim level and lower starting price for 2025. The 2025 Subaru Solterra will start at $38,495 MSRP — $6,500 less than the 2024 model — before applicable federal, state, and local tax credits, and arrive at retailers nationwide early next year.

The 2025 Subaru Solterra is available in Premium, Limited, Touring, and new Touring Onyx Edition trim levels. The 2025 Solterra will qualify for applicable federal tax credits of up to $7,500 for some consumers.

New for 2025, the Subaru Solterra adds a Touring Onyx Edition trim level that adds 20-inch aluminum-alloy gloss black wheels, black exterior and interior accents, including black badging. The Subaru Solterra Touring Onyx Edition will cost $45,495 MSRP.

All Solterras are equipped with Subaru’s Symmetrical All-Wheel Drive system and Subaru StarDrive ® Technology, which delivers smooth, linear output from dual electric motors placed on the front and rear axles that deliver 249 pound-feet of torque. All models feature Dual-Function X-MODE ® with Snow/Dirt and Deep Snow/Mud modes with Grip Control and Downhill Assist Control for confidence in low-grip or off-road capability. Every Solterra includes 8.3 inches of ground clearance for genuine off-road capability “ a Subaru hallmark and best in class among small electric SUVs “ and standard Active Cornering Assist and Vehicle Stability Control for better on-road handling.

The Solterra’s high-capacity lithium-ion battery pack includes ample usable daily range and can charge from 10% to 80% in as little as 35 minutes. New for 2024, an uprated battery conditioning system improved cold-weather charging performance in colder temperatures. With thousands of available public charging stations and DC-fast charging, replenishing the Solterra’s battery away from home can be quick and easy. At home, the Solterra offers affordable Level 1 or Level 2 charging compatibility.

All Subaru Solterras are equipped with a suite of standard EyeSight ® driver-assist technologies including Emergency Steering Assist, Intersection Collision Avoidance Support, Pre-Collision Brake Assist, Lane Departure Prevention, Dynamic Radar Cruise Control with Lane Tracing Assist, Hands-Free Low Speed Driving, DriverFocus ® Distraction Mitigation System, Emergency Driving Stop System, and more. In 2024, the Subaru Solterra was named a TOP SAFETY PICK+ by the Insurance Institute for Highway Safety, its highest honor, and the National Highway Transportation Safety Administration gave the Solterra a 5-Star Overall Vehicle Score.

For added convenience, the Solterra is available with a 12.3-inch high-resolution touchscreen for infotainment with wireless Apple (NASDAQ:) CarPlay ® and Android Auto™ compatibility. The 2025 Solterra includes five USB charge points: one USB-A and two USB-C connectors for front-seat occupants and two USB-C charge points for rear-seat riders. A wireless phone charger is included on Solterra Limited and higher trim levels.

2025 Subaru Solterra Premium

Starting at $38,495 MSRP, which is $6,500 less than the 2024 model, the 2025 Subaru Solterra Premium is well equipped with an impressive list of standard features for convenience and comfort. The Subaru Solterra Premium is equipped with standard roof rails with a 700-pound static load capacity (176 pounds dynamic load capacity), 18-inch aluminum-alloy wheels with black and silver aerodynamic wheel covers, an 8.0-inch touchscreen for infotainment with wireless Apple CarPlay ® and Android Auto™ compatibility, SiriusXM satellite radio (4-month free trial included), Bluetooth ® connectivity, and SUBARU SOLTERRA CONNECT™ vehicle services for safety, remote access, service, available cloud-based navigation, and Wi-Fi (30-day free trial or 3GB). The connected-vehicle services also include Remote Climate Control, Remote Lock/Unlock via smartphone, and more.

Inside, the Subaru Solterra Premium features heated front seats with auto setting, Dual-Zone Automatic Climate Control, rear seat reminder, S-Pedal Drive, electronic parking brake, a 7.0-inch LCD combination meter, windshield wiper de-icer, heated sideview mirrors, and LED headlights (multi-beam low and single-beam high).

2025 Subaru Solterra Limited

The 2025 Subaru Solterra Limited adds more comfort and convenience features to the Premium trim level’s roster of standard equipment and starts at $41,995 MSRP, which is $6,500 less than the outgoing version. Those include standard 20-inch alloy wheels with gray machine finish, 10-way power-adjustable driver’s seat, 8-way power-adjustable passenger’s seat, heated rear seats, power rear gate, rain-sensing wipers, wireless smartphone charger, LED fog lights, heated steering wheel, and StarTex ® trimmed interior upholstery.

A 12.3-inch high-resolution touchscreen with Apple CarPlay ® and Android Auto™ compatibility is standard and paired to a Harman Kardon ® 576 watt-equivalent premium audio system with 11 speakers. A 360-degree Panoramic View Monitor provides an overhead view for better maneuverability, and Advanced Park helps further with perpendicular or parallel parking assistance using the EV’s sensors and cameras.

2025 Subaru Solterra Touring

Building on the Solterra Limited’s impressive standard features, the 2025 Subaru Solterra Touring adds more comfort and convenience features for $44,995 MSRP, $7,000 lower than the 2024 model.

The Solterra Touring adds a panoramic glass moonroof with power sunshade, front and rear LED footwell lighting, standard heated and ventilated front seats, a digital rearview mirror with view position adjustment with Homelink ® and camera washer, and smart key access on all five doors.

2025 Subaru Solterra Touring Onyx Edition

New for 2025, the Subaru Solterra Touring Onyx Edition adds dynamic stylish features inside and out and starts at $45,495 MSRP.

On the exterior, the Subaru Solterra Touring Onyx Edition adds a high gloss black front underguard; 20-inch aluminum-alloy wheels finished in black; black roof pillars, shoulder line trim, door frame, rear quarter window and roof spoiler; and black badging. Two-tone exterior color options are exclusive to Touring Onyx Edition as well.

Inside, the Touring Onyx Edition features black trim accents on the front and rear doors, and black StarTex ® trimmed upholstery.

With the purchase or lease of a new 2025 Subaru Solterra, customers will also receive up to 10 days of Subaru Just Drive Rental at no charge from their participating Subaru retailer. The program allows owners to rent various Subaru vehicles through those retailers.

2025 Subaru Solterra
Model/Trim	MSRP	MSRP plus Destination and Delivery ($1,420)ⁱ
Solterra Premium	$38,495	$39,915
Solterra Limited	$41,995	$43,415
Solterra Touring	$44,995	$46,415
Solterra Touring Onyx Edition	$45,495	$46,915

ⁱDestination & Delivery is $1,420 for Solterra and may vary in the following states: CT, HI, MA, ME, NH, NJ, NY, RI and VT. D&D is $1,570 for retailers in Alaska.

About Subaru of America, Inc.
Subaru of America, Inc. (SOA) is an indirect wholly owned subsidiary of Subaru Corporation of Japan. Headquartered in Camden, N.J., the company markets and distributes Subaru vehicles, parts, and accessories through a network of about 640 retailers across the United States. All Subaru products are manufactured in zero-landfill plants, including Subaru of Indiana Automotive, Inc., the only U.S. automobile manufacturing plant designated a backyard wildlife habitat by the National Wildlife Federation. SOA is guided by the Subaru Love Promise, which is the company’s vision to show love and respect to everyone and to support its communities and customers nationwide. Over the past 20 years, SOA and the SOA Foundation have donated more than $320 million to causes the Subaru family cares about, and its employees have logged over 100,000 volunteer hours. Subaru is dedicated to being More Than a Car Company ® and to making the world a better place. For additional information, visit media.subaru.com. Follow us on Facebook (NASDAQ:), Instagram, <a href="https://c212.net/c/link/?t=0&l=en&o=4329519-1&h=2088501060&u=https%3A%2F%2Furldefense.com%2Fv3%2Fhttps%3A%2Fwww.linkedin.com%2Fcompany%2Fsubaru-of-america%2F%3B!!P1uQfTJRew!RITC1tICLlR8tTdygLlH6eiHENIniru8XHdUVy0VTgQgkhmXIrEhDmg0rHqzgny7ey_ys_IlZvCI1TBBwUQ%24&a=LinkedIn” rel=”nofollow” target=”_blank”>LinkedIn, TikTok, and YouTube.

Dominick Infante
Director, Corporate Communications
856.488.8615
dinfante@subaru.com

Aaron Cole
Product Communications Manager
720.231.0809
acole1@subaru.com

Stock Markets

PBF Energy to Participate in the Goldman Sachs Energy, CleanTech & Utilities Conference

Published

5 hours ago

December 21, 2024

PARSIPPANY, N.J., Dec. 20, 2024 /PRNewswire/ — PBF Energy Inc. (NYSE:) today announced that members of its management team will participate in the Goldman Sachs Energy, CleanTech & Utilities Conference on January 6-8, 2025.

Any company presentation materials will be made available on the Investor Relations section of the PBF Energy website at www.pbfenergy.com.

About PBF Energy Inc.
PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.

PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.

Contacts:Colin Murray (investors)
ir@pbfenergy.com
Tel: 973.455.7578

Michael C. Karlovich (media)
mediarelations@pbfenergy.com
Tel: 973.455.8981

Stock Markets

Intensity Therapeutics Stock Hits 52-Week Low at $1.76

Published

5 hours ago

December 21, 2024

Intensity Therapeutics, Inc. (INTS) stock has reached a new 52-week low, trading at $1.76, marking a steep 80% decline from its 52-week high of $8.79. According to InvestingPro analysis, the company maintains a positive cash position despite challenging market conditions. This latest price point marks a significant downturn for the company, which has seen its stock value decrease by 69.09% over the past year. Investors are closely monitoring the biotech firm, known for its innovative cancer treatments, as it navigates through a challenging period. While analyst price targets range from $4 to $16, suggesting potential upside, InvestingPro data reveals weak financial health scores and unprofitable operations over the last twelve months. The 52-week low serves as a critical juncture for Intensity Therapeutics, as market watchers consider the company’s future prospects and potential for recovery.

In other recent news, Intensity Therapeutics secured approximately $3 million in gross proceeds from a stock offering and concurrent private placement. The company also reported promising results from its Phase 1/2 clinical trial of INT230-6, a treatment for various sarcomas, showcasing an improved median overall survival rate and a favorable safety profile. A global Phase 3 trial is currently underway to further evaluate the efficacy and safety of INT230-6.

In addition, Intensity Therapeutics granted stock options to its Chief Financial Officer, Joseph Talamo, and the Principal Accounting Officer, John Wesolowski, as part of the company’s 2021 Stock Incentive Plan. The company has also initiated a $15 million At-The-Market offering, facilitated by H.C. Wainwright & Co.

Furthermore, Brookline Capital Markets has given Intensity Therapeutics a Buy rating, highlighting the potential of their intratumoral drug delivery technology. The company is also preparing for a Phase 2/3 trial focusing on breast cancer.

Lastly, Intensity Therapeutics has elected two Class I directors and ratified EisnerAmper LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2024. The company is expecting the pathological complete response data from a partnered Phase 2 clinical trial in Europe in the second half of 2025. These are the recent developments concerning Intensity Therapeutics.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.