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Posted by johnmalloy333(at)gmail.com | Thursday, March 06, 2008

Sydney's Coolest Summer in 50 Years Leaves Empty Cafes, Gloom

Sydney residents and tourists are cursing La Nina as the harbor city says goodbye to the summer that wasn't.

While the La Nina weather pattern is delivering rain to farmers after the worst drought in a century, it's cutting profits for cafe owners, travel agents and insurers. Insurance Australia Group Ltd., the nation's largest home insurer, last week posted a sixth straight profit decline after hail storms cost it A$105 million ($97 million). The yearly `Symphony in the Park,' which usually attracts 80,000 people, had 700 this year as the orchestra played behind a tarpaulin during a downpour...

www.bloomberg.com