On December 24, American Airlines canceled a one-hour flight stop in the USA caused by a technical problem. The incident, which occurred just before the Christmas season, threatened the travel plans of thousands. The airline apologized to customers and worked to resolve the problem quickly. According to the US Federal Aviation Administration, the cause was unspecified. The incident is reminiscent of previous technical disruptions in the industry, such as the outage of Microsoft's Azure services or the system collapse at Southwest Airlines two years ago.
Rising hunger figures meet with falling aid contributions from wealthy countries. By 2025, 117 million people could be left without aid, as the UN is only providing 60% of the funds required. Conflicts, climate change and reduced contributions from major donors such as Germany are putting a strain on the situation, while countries such as China and India are hardly contributing at all. The UN is calling for new funding models to tackle the crisis.
China plans to issue a record 3 trillion yuan (USD 411 billion) in special government bonds in 2025 to stimulate the economy. The funds are intended to finance consumer subsidies, infrastructure projects and investments in future-oriented industries such as green energy and semiconductors. The measure corresponds to 2.4% of GDP in 2023 and shows Beijing's willingness to take on higher debt to stabilize the economy. The reasons are weak domestic demand, the real estate crisis and the threat of US tariffs under President Trump. Official economic targets will be finalized in March 2025.
The Russian cargo ship “Ursa Major” has sunk in the Mediterranean after an explosion in the engine room. Two crew members are missing, 14 were rescued by Spanish rescue workers. The ship, operated by a Russian Ministry of Defense company, was on its way to Vladivostok loaded with two harbor cranes. The cause of the explosion is unclear and investigations are ongoing.
US President Joe Biden has blocked a law that would have created 66 new judgeships at understaffed federal courts. The “JUDGES Act” was intended to gradually create judgeships in 25 judicial districts in 13 states by 2035, but was criticized by Biden as immature. Despite initial bipartisan support, the prospect that the newly elected President Donald Trump could appoint the first 25 judges caused conflict. Biden's veto was sharply criticized by Republicans, while Democrats saw the timing of the vote in the Republican-led House of Representatives as problematic.
The South Korean opposition, represented by the Democratic Party (DP), has postponed its plan to initiate the impeachment of incumbent President Han Duck-soo. The DP had previously announced that it would introduce a bill to this effect on Tuesday. The move follows Han's decision to delay a bill to appoint a special prosecutor to investigate President Yoon Suk Yeol's failed attempt to impose martial law. The DP sees this as support for Yoon, whose administration is currently being reviewed by the Constitutional Court following his impeachment on Dec. 14.
According to a UN report, more than 200 people were killed by the Wharf Jeremie gang in Haiti's Cite Soleil port district in December. Initially, 187 fatalities were reported, but the number was corrected to 207. The victims, including many elderly women, were killed in a series of mass executions and kidnappings. Gang leader Monel “Mikano” Felix ordered the attacks after the sudden onset of illness in his child, which he claimed was caused by voodoo from local residents. The violence, which has already left thousands dead and many internally displaced, is exacerbating the already severe security and food crisis in Haiti.
20 years after the devastating tsunami of 2004, which claimed the lives of more than 126,000 people in Aceh, Indonesia has significantly improved the tsunami warning system in the region. Teuku Hafid Hududillah, who lost many relatives as an adult, is now part of a team that is modernizing the early warning systems in Aceh. This includes loud sirens that can be heard up to 100 km away, as well as rapid notifications by phone and radio for earthquakes over magnitude 5. Despite this progress, many residents, like Zainuddin, are also calling for improvements in urban planning so that they can flee quickly in the event of a tsunami.
Israeli troops have forced the evacuation of the Indonesian Hospital in northern Gaza, one of the few hospitals still functioning. Many patients were transferred to another hospital in Gaza City. The Israeli army is targeting Hamas militias, while Palestinians accuse Israel of permanently depopulating northern Gaza. In recent months, there have been repeated attacks on medical facilities, including the Al-Awda and Kamal Adwan hospitals.
Hungary received guarantees from Bulgaria on Friday that there will be no restrictions on gas transit from the RF, which runs via the “TurkStream” and then via the Balkan countries, Hungarian Prime Minister Viktor Orbán said at a conference. Orbán explained that Hungary is negotiating with the RF and Ukraine to maintain gas transit and is submitting a proposal for the gas to be transferred to Hungarian ownership at the border.
Trump had initiated the US withdrawal from the WHO in his first term by accusing the organization of mistakes in the spread of COVID and calling it controlled by China, but the Republican's executive order was rescinded by Biden immediately after he took office The team of US President-elect Donald Trump plans to announce the country's withdrawal from the World Health Organization (WHO) on the day of his inauguration, January 20, reports Financial Times.
A coup d'état is being prepared in Belarus. According to intelligence information, the first protests are planned for January 24 and 25, and the briefing of sleeper cells has already begun. This is not only a new source of political tension, but also openly shows that not all resources have been used for future negotiations on Ukraine. Reminder: that the US State Department has already advised its citizens to leave Belarus.
In Siberia, Russian scientists have discovered a 50,000-year-old baby mammoth, which they named “Jana”. The animal, which was found in the permafrost, is amazingly well preserved, with its head, torso, ears and mouth intact. Weighing 180 kilograms and measuring two meters in length, the mammoth was about one year old. The researchers hope to gain new insights into the lifestyle and development of mammoths by studying “Jana”.
The European Parliament has taken a further step to control the flow of information online. It has decided to set up a new committee dedicated to combating foreign interference and disinformation. The initiative, called the “European Democracy Shield”, is intended to protect democratic processes, but raises significant concerns about censorship.
Shortly before the handover of power from Joe Biden to Donald Trump, the US Trade Representative Office announced an investigation into China's chip industry - the accusation: China is trying to establish a global monopoly.(FT)
China's EV boom: a growing concern for oil companies China's oil demand is barely rising - even though the country alone will account for ~16% of global demand by 2023. One reason: the booming e-car industry, which continues to grow. (WSJ)
Tesla: Sales collapse in Germany. In Germany, the e-car industry is losing ground significantly - only 35,200 new e-cars were registered in November, 22% less than a year ago. In fifth place: Tesla, with 2,200 cars (~65% less than a year ago). (HB)
- ECB chief: Lagarde sees inflation target almost reached (TAG)
- Bafin double blow: Special audit at Deutsche Bank and DWS (HB)
- VW: Up to 10% less income - bonuses for 4,000 managers cut (SPG)
- FSG and Nobiskrug: Can the Windhorst shipyards be saved? (MM)
- Lilium: Insolvent air cab startup lays off all 1,000 employees (HEI)
- China: Consumers are increasingly renting consumer goods (HB)
- India: Experiencing a 90s-style stock market boom (BBG)
- England: Economy treads water - no growth in Q3 (NTV)
- Honda & Nissan: Want to merge by 2026 - deal value: +$50 bn (TGS)
- Cocoa: The biggest winner among commodities in 2024 (BBG)
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