July 21, 2008 in City

Tropical storm moves out to sea

 

Tropical Storm Cristobal headed for the open Atlantic late Sunday as forecasters discontinued tropical storm warnings along the Carolinas.

Meanwhile, Tropical Storm Dolly drenched Mexico’s Yucatan Peninsula and was expected to reach the Gulf of Mexico this afternoon.

At 8 p.m. PDT Sunday, the National Hurricane Center said Cristobal’s center had moved to 30 miles east of Cape Hatteras with maximum sustained winds near 50 mph. The storm was headed northeast at 9 mph.

The advisory predicted little change in strength over the next day or two.

Dolly, the fourth named storm of the Atlantic hurricane season, sped toward the Cancun area on Sunday packing sustained winds near 50 mph and prompting a tropical storm warning for the Yucatan peninsula.

The center of the storm was about 95 miles southeast of Cozumel, according to the U.S. National Hurricane Center.

In the Pacific, Hurricane Fausto was expected to continue moving northwest. The storm’s maximum sustained winds were near 90 mph and its center was located about 375 miles southwest of Cabo San Lucas, Mexico. Forecasters expected the hurricane to weaken to a tropical storm in the next two days. Tropical storms have maximum sustained winds of at least 39 mph.

The Hurricane Center also said Tropical Storm Bertha had lost its tropical system characteristics and was expected to weaken during the next day or so. WASHINGTON

Paulson insists bank system sound

Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while bracing people for more troubled times ahead.

“I think it’s going to be months that we’re working our way through this period – clearly months,” he said.

Paulson said the number of troubled banks will increase as they struggle to cope with losses on bad mortgages. The government this month took over IndyMac after a run led it to become the largest regulated thrift to fail.

“Of course the list is going to grow longer given the stresses we have in the marketplace, given the housing correction. But again, it’s a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation,” he said in broadcast interviews.

HONOLULU

B-52 crashes near Guam

The Air Force says a B-52 bomber carrying six crew members has crashed off the island of Guam.

The Coast Guard says two persons have been recovered from the waters. Their condition was not immediately available.

Rescue crews from the Navy, Coast Guard and local fire department are searching for the others.

Officials say the crash occurred about 25 miles northwest of Apra Harbor.

The accident is the second for the Air Force this year on Guam.

In February a B-2 crashed at Andersen Air Force Base in the first-ever crash of a stealth bomber. The military estimated the loss of the aircraft at $1.4 billion.

From wire reports


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