Money
Why under-40s deserted the airline industry, causing global delays
For months the world has been gripped by airline and airport delays. Now the reason is clear – workers under 40 have deserted the industry. But where did they go?
The airline crisis that has disrupted flights and travel plans of millions around the was caused by a massive staffing crisis.
Airlines have been forced to scrap thousands of flights as airports cancel schedules and ask airlines to cut back on flights.
Now there’s more data about exactly what caused it.
In Europe this summer, the staffing crisis was predominantly caused by younger workers who left the industry during the pandemic, with no plans to return.
Only about a third of the EU’s air transport workers were aged under 40 in the first quarter of the year, which is far lower than the number working before the pandemic.
The numbers who just how serious the task is for airlines to lure back workers to overcome massive delays.
The aviation industry has been caught flat footed this year, as millions return to the skies for so called “holiday revenge”, making up for lost time abroad over the last two years.
Many of the younger workers were employed as cleaners, security and ground handling.
But those hours are also unsociable and often low paid. Meaning workers who left the industry did so for bigger reasons than just the pandemic shutdown.
And now they’ve had time to think about why.
Hiring the air-side roles is made harder by requirements for extensive training and security checks which take time, so candidates end up looking for easier work elsewhere.
“Fundamental changes in the business model have to occur for aviation to remain a competitive career option,” said David Huttner at PA Consulting Group Ltd.
“The industry has always been susceptible to staffing issues within key skill sets, but not at this level.”
Money
Gold plunges as investors react to Middle East ceasefire
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.
The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.
Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.
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Money
Gold and silver prices drop after Gaza ceasefire
Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs
Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.
Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.
Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.
An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.
Market Overview
Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.
Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.
Money
North Korean hackers steal $2 billion in crypto
North Korean hackers steal over $2 billion in cryptocurrency, marking the largest annual total in history
North Korean hackers steal over $2 billion in cryptocurrency, marking the largest annual total in history
– North Korean hackers stole over $2 billion in cryptocurrency in 2025, nearly tripling last year’s total.
– A shift to social engineering tactics has led to increased targeting of high-net-worth individuals for cyber attacks.
A significant portion of the 2025 theft is attributed to the February hack of cryptocurrency exchange Bybit, which amounted to $1.46 billion.
The FBI has linked this breach to state-sponsored North Korean hackers, who exploited weaknesses in Bybit’s wallet management system. More than 30 additional cyber attacks have also been associated with North Korea this year, including notable breaches at LND.fi and WOO X.
Shift In Tactics
A shift in methodology among North Korean hackers has been observed, as they now focus on social engineering rather than technical exploits. According to Elliptic, the primary vulnerability lies with individuals rather than technology.
High-net-worth individuals and corporate executives are increasingly targeted due to their relatively weaker security measures.
The hackers utilise deceptive tactics, including phishing schemes and fake job offers, to access private cryptocurrency wallets. Intelligence reports suggest that the stolen funds are used to finance North Korea’s nuclear programmes.
The regime has also improved its money laundering techniques by employing various cryptocurrencies and mixing methods to obscure fund origins. Blockchain analysts are actively tracking these stolen assets, with notable progress achieved in identifying recoverable funds.
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