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Good morning Vietnam! International flights have resumed to Hanoi & Ho Chi Minh

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Vietnam will resume incoming international flights to its capital Hanoi and business hub Ho Chi Minh City effective immediately.

The nation imposed a suspension due to a COVID-19 outbreak earlier this week.

https://twitter.com/tickerNEWSco/status/1399320990623039491?s=20

Vietnamese authorities had initially banned incoming international flights to Hanoi for a week starting Monday and to Ho Chi Minh City until June 14.

The aviation authority hasn’t revealed just why it was resuming flights earlier than planned.

Meanwhile, most of the COVID-19 cases in the current outbreak are locally transmitted and not from international passengers.

Travel impacts on Aviation

The news comes as the Global Aviation sector continues to struggle due to the pandemic.

The bosses of leading airlines have written to senior government figures in both nations, calling for an expedited travel corridor. 

With vaccination rollouts well underway within both nations, the aviation sector wants to ease travel restrictions on the normally busy transatlantic travel route.

The letter to US Secretary of Transportation Pete Buttigieg and UK Secretary of State for Transport Grant Shapps stated:

“Air travel is a critical enabler of trade between our countries that was worth US$273 billion in 2019,” 

Of those who have joined forces include British AirwaysAmerican Airlines, United AirlinesDelta Airlines, JetBlue, and Industry Group Airlines for America.

“Public health must guide the reopening of international air travel, and we are confident that the aviation industry possesses the right tools, based on data and science, to enable a safe and meaningful restart to transatlantic travel

The letter signifies a rare joining of forces between airlines that are normally arch-rivals. The CEOs who signed the letter have proposed a summit to explore how to safely and swiftly re-open the critical route between the UK and US.

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Money

Traders bet on Bitcoin hitting $100k by end of year

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Surge in Bitcoin prices follows pro-crypto political victories, with traders betting on a $100,000 milestone by year-end.

Bitcoin’s value surged past $90,000 on Wednesday, marking a record high amid investor excitement surrounding a possible cryptocurrency renaissance as Donald Trump steps into his second term as U.S. president.

The election of Trump, who has openly endorsed crypto, has sparked a 30% rise in bitcoin’s price since Election Day, boosted by the success of dozens of congressional candidates supported by crypto-friendly political action committees.

Hitting $100,000

According to Jake Ostrovskis, an OTC trader at crypto market maker Wintermute, traders are betting that Bitcoin could hit $100,000 before the end of the year, with $850 million in options contracts speculating on this milestone by December 27.

The crypto industry, which contributed around $170 million to support candidates viewed as allies, is optimistic about a wave of deregulation and favorable policies.

Trump has promised to establish a national bitcoin reserve and aims to replace SEC Chair Gary Gensler, who has led a strict regulatory approach to crypto.

With aggregate open interest on Bitcoin derivatives soaring to $61 billion, investors are increasingly bullish, betting on bitcoin’s growth via options and perpetual futures contracts.

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Money

Consumer prices rise as Fed weighs December rate cut

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Consumer prices ticked up in October, marking a slight rise after September’s 3½-year low, showing an uneven path for inflation.

Despite the bump, the increase likely won’t deter the Federal Reserve from a possible December interest-rate cut.

The Labor Department reported consumer prices were up 2.6% from a year ago, with core inflation, excluding food and energy, up 3.3%.

Steady consumer spending and hiring may fuel debate on slowing rate cuts early next year.

Investors welcomed the report, betting on a quarter-point rate cut in December.

This response reflects confidence that President-Elect Trump and the Fed will avoid early policy clashes, despite Trump’s pro-lower-rate stance.

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Money

Wall Street rallies as oil prices dip and bitcoin hits new high

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Wall Street started the week on a high note, extending last week’s rally as oil prices fell and bitcoin surged to a new record.

The Dow Jones jumped 1%, reaching over 44,000, with Tesla and big banks leading gains.

Crypto stocks soared as bitcoin hit an all-time high above $82,300, driven by optimism about lighter regulation.

Investors are also focused on upcoming inflation data, which could provide more clues about interest rates.

The dollar remained near a recent peak as Federal Reserve speakers, including Chair Jerome Powell, are set to weigh in later this week.

European markets followed suit, with the pan-European STOXX 600 rising over 1% on Monday.

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