Author: Emily Harper

A Swiss International Air Lines flight attendant tragically passed away a week after being exposed to smoke that filled the cabin and cockpit during a December 23 flight. The flight, traveling from Bucharest, Romania, to Zurich, was forced to make an emergency diversion to Graz, Austria, due to engine problems, the airline said in a press release. Emergency Diversion and Immediate Response The Airbus A220 was diverted to Graz after engine issues caused smoke to spread throughout the aircraft. Upon landing, all 74 passengers and five crew members were evacuated safely. Twelve passengers and all crew members required medical attention…

Both General Motors (GM) and Ford Motor Co. (Ford) closed 2024 with their highest U.S. vehicle sales since 2019, marking a significant recovery from the challenges posed by the COVID-19 pandemic and years of supply chain disruptions. The strong performance underscores a broader resurgence in the U.S. automotive industry, which reached its best year since 2019, selling nearly 16 million vehicles. GM Retains Top Spot General Motors maintained its position as the top-selling automaker in the U.S., with 2024 sales exceeding 2.7 million vehicles, a 4.3% increase from 2023. While still short of the 2.9 million units sold in 2019,…

U.S. President Joe Biden directed the Pentagon to “continue its surge” of weapons to Ukraine following a massive Russian attack on Christmas Day. The strikes, which included 78 missiles and 106 drones, targeted multiple cities, causing widespread damage and injuries, particularly in Kharkiv. Biden Condemns Russian Aggression In a statement on Dec. 25, Biden condemned Russia’s assault and reaffirmed the United States’ unwavering support for Ukraine. “The Ukrainian people deserve to live in peace and safety,” he said, emphasizing the importance of bolstering Ukraine’s defenses. Biden highlighted the significant military aid already provided, including hundreds of air defense missiles, with…

Carvana (CVNA) shares continued to decline on Friday following a short-selling report from Hindenburg Research, which raised concerns about the used-car retailer’s financial practices. Despite the negative attention, JPMorgan analysts maintained their “overweight” rating on Carvana, expressing confidence in the company’s fundamentals. Hindenburg Report Sparks Concerns Hindenburg Research alleged that Carvana’s financial performance was artificially inflated through questionable loan sales. The short-seller firm claimed Carvana sold $800 million worth of consumer auto loans to an unidentified “related third party” over the past nine months, accounting for nearly 26% of the company’s gross profit during that period. These claims have raised…

The state of the UK’s job market is raising concerns, with business leaders increasingly sounding the alarm about a possible recession. Recruitment figure James Reed recently claimed the current data points to economic trouble ahead. Yet, while certain indicators, such as falling job vacancies, signal a slowdown, robust wage growth and steady employment figures paint a more complex picture. The latest labour market data released on Tuesday by the Office for National Statistics (ONS) showed average regular pay rising at a strong 5.2% rate in the three months to October, up from 4.4% in the prior period. Including bonuses, wages…

Despite economic uncertainty and rising inflation, some retailers have managed to thrive by adapting to changing consumer behaviors. According to rankings by the National Retail Federation (NRF) and Kantar, companies like Walmart, Amazon, and Costco have successfully balanced online and in-store strategies to maintain impressive revenues. Here’s a breakdown of the top five U.S. retailers by revenue in 2024, along with their significant moments this year. 5. Walgreens Noteworthy Moments 4. The Home Depot Noteworthy Moments 3. Costco Noteworthy Moments 2. Amazon Noteworthy Moments 1. Walmart Noteworthy Moments Resilience Amid Economic Uncertainty These retailers’ ability to navigate economic headwinds and meet consumer needs highlights their adaptability and resilience. While…

Chinese leaders have agreed to raise the budget deficit to 4% of gross domestic product (GDP) in 2025, marking the highest level on record. The move reflects a more proactive fiscal policy aimed at maintaining an economic growth target of around 5%, according to sources familiar with the matter. While the decision has yet to be officially announced, it aligns with strategies outlined during December’s Politburo meeting and the recent Central Economic Work Conference (CEWC). The shift to a higher deficit, up from an initial 3% target, signals a stronger push for fiscal stimulus. The additional one percentage point in…

Berkshire Hathaway, led by Warren Buffett, has significantly increased its position in VeriSign (VRSN), an internet infrastructure company, solidifying its status as the company’s largest shareholder. Details of the Recent Purchase According to a Form 4 filing with the Securities and Exchange Commission (SEC), Berkshire Hathaway acquired 143,424 shares of VeriSign during the three trading sessions ending on December 24, 2024. In total, the company purchased 377,736 shares over six sessions, spending approximately $74 million. With these acquisitions, Berkshire Hathaway now owns 13.2 million shares of VeriSign, valued at around $2.7 billion. VeriSign’s Position in Berkshire Hathaway’s Portfolio Berkshire Hathaway first invested in VeriSign in the fourth quarter of 2012. Over a decade later,…

South Korean President Yoon Suk Yeol declared martial law in an unexpected late-night address on Tuesday, accusing the opposition Democratic Party of engaging in anti-state activities and sympathizing with North Korea. This declaration marks the first imposition of martial law in South Korea since 1980, during a nationwide uprising. Yoon justified the move by citing the opposition’s actions, including motions to impeach top prosecutors and reject a government budget proposal. National Assembly Overturns Martial Law Shortly after Yoon’s announcement, the National Assembly voted to block the martial law decree. Out of 300 members, 190 lawmakers, including opposition and some ruling-party representatives, voted to overturn the measure. Woo Won-sik,…

Bank of America Corp. has agreed to purchase approximately $990 million in multifamily commercial real estate loans from HomeStreet Inc., a move aimed at helping the struggling Seattle-based lender return to profitability. Transaction Details The deal involves the sale of loans at a price equivalent to 92% of their unpaid principal balance. Proceeds will allow HomeStreet to pay down Federal Home Loan Bank advances and high-cost brokered deposits, replacing them with less expensive core deposits. The transaction is divided into two phases: A Step Toward Profitability HomeStreet has faced mounting challenges, including four consecutive quarters of losses and regulatory hurdles that blocked its acquisition by FirstSun Capital Bancorp.…