FAA lifts order slashing flights, allowing commercial airlines to resume their regular schedules
Summary: The Federal Aviation Administration says it is lifting all restrictions on commercial flights that were imposed during the government shutdown at 40 major U.S. airports. The agency said Sunday airlines can resume normal flight schedules beginning Monday at 6 a.m. EST. The unprecedented order had been in place since Nov. 7 and affected thousands of flights. The FAA said it was necessary to ease the strain on the aviation system and help manage staffing shortages at its air traffic control facilities during the shutdown. The flight cuts started at 4% as the shutdown entered its second month and later grew to 6% before the FAA on Friday rolled back the restrictions to 3%.
Ford Motor shows off new high-tech HQ. It has a 'crown jewel' showroom and room for 4,000 employees
DEARBORN, Mich. (AP) — Ford Motor Company is showing off its new world headquarters building in Dearborn, Michigan. The new HQ is double the size of its old one with room for twice as many employees. It has seven restaurants, design studios and fabrication shops. And, of course, cars. According to Ford Land’s brand manager, the “crown jewel” of the new building is a massive showroom. Ford gave media tours of the new world headquarters this past week. And it is to be the site of a grand-opening celebration on Sunday. Ford’s current headquarters is known as “The Glass House.” It opened in 1956. The plan is for it to be demolished.
Samsung and other South Korean firms pledge larger domestic investments after US tariff deal
SEOUL, South Korea (AP) — Samsung Electronics and other major South Korean companies have announced new domestic investment plans. This comes after a meeting with President Lee Jae Myung, who hopes to counter concerns about prioritizing U.S. investments under a recent trade deal. Samsung plans to invest $310 billion over five years to expand domestic operations, including a new production line at its Pyeongtaek hub. Hyundai Motor Group also plans to invest $86.3 billion from 2026 to 2030 in research and development. SK Group and shipbuilders Hanwha Ocean and HD Hyundai also announced plans to increase domestic investments.
Mike Pompeo becomes adviser to scrutinized Ukraine defense company that's looking to boost missiles
Former U.S. Secretary of State Mike Pompeo has joined the advisory board of Ukraine’s leading defense company, Fire Point. The company is known for its long-range drones that can strike deep inside Russia. Fire Point is expanding by building a new factory in Denmark and plans to double its cruise missile production by next year. However, the company faces scrutiny due to an ongoing corruption investigation. Executives insist they are transparent and have commissioned an independent audit. Despite these challenges, Fire Point reports $1 billion in revenue and continues to grow internationally.
Brazilian coffee, beef and tropical fruit will still be tariffed 40%, says Brazil’s vice president
RIO DE JANEIRO (AP) — Brazil’s Vice President Geraldo Alckmin says Brazilian goods like coffee, beef and tropical fruits will still face a 40% tariff in the U.S. This comes despite President Donald Trump’s decision to remove some import taxes. On Friday, Trump scrapped levies announced in April, calling it ‘Liberation Day,’ to boost the U.S. economy. However, in July, he imposed an additional 40% tariff, partly due to the trial of former President Jair Bolsonaro. Alckmin notes that while some products like orange juice now have zero tariffs, the extra tariff on others remains high. He calls for further corrections.
As nations push for more ambition at climate talks, chairman says they may get it
BELEM, Brazil (AP) — At the halfway point of annual United Nations climate negotiations in Brazil, it appears the talks may do more than just focus on implementing past promises, as some observers had expected. Several nations have pressed during the first week to be more ambitious. They want stronger commitments on cutting emissions, getting financial aid to countries hit hardest by climate change, and getting serious about phasing out fossil fuels. Exactly how much consideration those matters get will be up to high-level ministers who take over the action during the second and final week of what's known as COP30.
Former Fed governor's stock trades violated the central bank's ethics rules
A former Federal Reserve governor who retired in August listed several stock trades in her financial disclosure documents for 2024 that violated the central bank’s ethics rules. The transactions are outlined in a report released Saturday by the U.S. Office of Government Ethics, which reviewed Adriana Kugler’s financial disclosures after the Fed referred them to its inspector general earlier this year. Fed officials are barred from investing in individual stocks, bonds or cryptocurrencies. Kugler listed trades of individual stocks, including Apple, Southwest Airlines and Caterpillar. Some trades happened during blackout periods when the Fed's policymaking committee meets. The report notes some trades were made by Kugler’s spouse without her knowledge.
Japan's economy contracts as exports get hit by US tariffs
TOKYO (AP) — Japan’s economy has declined at an annualized rate of 1.8% in the July-September period, as President Donald Trump’s tariffs sent the nation’s exports reeling downward. Government data Monday shows that, on a quarter-by-quarter basis, Japan’s gross domestic product, or GDP, or the sum value of a nation’s goods and services, slipped 0.4%, in the first contraction in six quarters. The annualized rate shows what the economy would have done if the same rate were to continue for a year. The market expected a 0.6% drop. A big drop came in exports, which were 1.2% down from the previous quarter.
Future data centers are driving up forecasts for energy demand. States want proof they'll get built
HARRISBURG, Pa. (AP) — Utilities are producing eye-popping forecasts about the amount of electricity they'll need to power massive new data centers that are feeding the fast-growing AI economy. But the forecasts are setting off alarm bells about whether they can be trusted. One question is whether utilities are counting speculative data center projects that may never get built. Some worry regular ratepayers could be stuck with paying for unnecessary power plants. The Federal Energy Regulatory Commission wants to know how grid operators determine that a project is viable, while states are trying to find out what's in utilities' forecasts and weed out speculative projects.
A slowing wartime economy pushes the Kremlin to tap consumers for revenue
Russia's economy has slowed after two years of robust growth fueled by the war in Ukraine. That's opening a hole in the Kremlin's budget, and President Vladimir Putin is looking for money to cover the deficit. It's clear where he'll get it: from an increase in value-added tax paid by consumers on purchases. The rate is rising from 20% to 22%. The government also has proposed increasing taxes on spirits, wine, beer, cigarettes and vapes. Muscovites are greeting the changes with grumbling and shrugs. The economic slowdown and tax increases are signs that Russia will face harder choices in the months ahead, between military spending and consumer welfare, after 3 1/2 years of war against Ukraine.
