Black Thursday
The costs of the recent power outage in large parts of northeast USA and Canada range from $6 billion to $10 billion. Hardeep Dhillon looks at the consequences of the blackout and analyzes the impact on the utility and insurance industries.
The power outage halted subways, airports, closed Michigan car plants, and shut down 100 power generating plants. Press estimates have set the cost to the economy anywhere between $6 billion and $10 billion, with New York alone estimating losses of over half a billion dollars in lost income and tax revenues.
A joint US-Canadian
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