Money
Travel hopes dashed – BA announces thousands of flight cancellations
British Airways cancels thousands of flights through the month of July
Britain’s biggest airline told airport slot authorities that it was cancelling more than 650 flights from Heathrow and Gatwick in a bid to avoid repeating last month’s overcrowding and chaos, according to The Telegraph.
“As the entire aviation industry continues to face into the most challenging period in its history, regrettably it has become necessary to make some further reductions.”
BRITISH AIRWAYS SPOKESPERSON
Airlines and airports across Britain are dealing with a staffing crunch.
Layoffs and redundancies made during the pandemic have come back to bite air operators as demand for air travel surges.
On Monday, EasyJet’s Chief Operations Officer, Peter Bellew, resigned from his post amid thousands of cancellations in June.
An EasyJet spokesperson said that Mr Bellew had “resigned to pursue other business opportunities”.
On Sunday, footage emerged of an EasyJet flight being escorted by a Spanish Air Force jet.
Spanish authorities said it was in response to a bomb threat, which later turned out to be a hoax.
The EasyJet flight from London Gatwick to Menorca landed without incident.
Passengers were screened one by one and bomb disposal experts checked all luggage.
Spanish authorities said an 18-year-old British man had posted the bomb threat to his social media page and was detained.
An EasyJet spokesperson thanked passengers for their understanding but did not go into further details.
Money
Stocks rally ahead of Thanksgiving as markets log four days of gains
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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Money
Dow surges 500 points amid rate cut optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Money
Gold prices surge as Central Banks buy big, but risks grow ahead
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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