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As planes return to the sky, airline accidents increase

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The good news is that aviation is starting to return to normal, but the bad news is that aviation accidents have risen over the past year.

The number of commercial jet aircraft accidents rose in 2021 over the previous year, reflecting an increase in global flights.

It’s been a rocky few years for global aviation, battered by the pandemic and higher oil prices around the world.

There were 23 commercial jet aircraft accidents in 2021, according to the 53rd edition of Boeing’s annually updated report.

Read the full report here: Statistical Summary of Commercial Jet Airplane Accidents: Worldwide Operations: 1959-2021.

Only one accident was fatal – a Sriwijaya Air Boeing 737-500 that lost altitude shortly after take-off on 9 January 2021.

The aircraft took off and crashed into the ocean off the coast of Indonesia.

Six crew members and 56 passengers died and the aircraft was destroyed.

The global commercial jet fleet logged about 46.9 million flight hours in 2021, up 11% from 42.2 million hours in 2020, seen as the worst year of the pandemic.

There were 17 commercial jet accidents in 2020, three of which were fatal.

Four of the accidents in 2021 resulted in hull losses, meaning the aircraft was damaged beyond repair.

Declining number of accidents

The annual global rate of fatal accidents involving commercial jets has been less than 0.2 per one million flights over the past decade – down from an annual rate between roughly 0.4 and 0.8 the prior decade.

“Over the past 63 years, hull losses and onboard fatalities declined dramatically while the number of flights continued to increase,” the Boeing report says.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Central bank expected to ease interest rates as election nears

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The Federal Reserve is expected to cut interest rates again this week, a move aimed at cooling inflation.

This quarter-point rate cut would bring the benchmark rate to about 4.6%, the second reduction this year.

Analysts expect that additional cuts could come in December, which would benefit borrowers by reducing loan costs.

If Trump were to win the election, economists say his proposals on trade and immigration could reignite inflation.

The Fed is balancing a strong economy and low unemployment with its inflation-calibrated rate cuts.

As Election Day approaches, all eyes are on both the Fed and the presidential race.

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Big Tech pushes AI investments

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Tech giants like Microsoft and Meta are accelerating AI data center spending, with massive capital pouring into these projects.

Microsoft and Meta reported on Wednesday that AI investments are spiking their expenses, while Alphabet announced similar trends.

Amazon, due to report earnings shortly, is expected to mirror these projections, foreseeing further pressure on profit margins.

Wall Street is getting wary of the financial strain, as each company’s stock took a hit this week despite strong quarterly numbers.

Shares of Meta fell over 3%, and Microsoft saw a 6% drop, underscoring Wall Street’s jitters.

“It’s expensive to keep up with AI technology demands,” says GlobalData’s Beatriz Valle, emphasising a competitive race in AI capacity.

The high-stakes investments are starting to test investor patience in Big Tech’s ambitious AI journey.

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Meta expects strong holiday ad revenue boost

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Meta’s holiday-quarter forecast beats expectations as AI tools drive growth

Meta Platforms, parent company of Facebook, has forecast holiday-quarter revenue that surpasses market expectations, anticipating a surge in ad spending as the year ends.

The projection comes as Meta’s AI-driven advertising tools and short-form video feature Reels have spurred revenue growth this year.

Meta’s shares dipped 2.5% in after-hours trading, despite a third-quarter profit of $6.03 per share—well above analysts’ forecast of $5.25.

Analysts expect digital ads to have a “blockbuster” year in 2024, helped by improved economic forecasts and steady consumer spending.

Meta, heavily reliant on advertising revenue, stands to benefit from increased holiday marketing as it eyes revenues of $45 to $48 billion this quarter.

The company’s third-quarter revenue reached $40.59 billion, narrowly topping analysts’ estimates.

With interest rates easing, analysts suggest Meta’s ad revenue could continue to thrive into the new year.

As holiday spending ramps up, Meta’s AI investments are paying off.

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