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Transportation Secretary Sean Duffy said Thursday that US air travel is recovering after the disruptions caused by the more than month-long government funding shutdown.”Yesterday was one of the best days our airspace had in a while with just a few air traffic controllers calling out from work,” he said on his X account on Friday.”We are reviewing the data provided and working hard for a return to normal airspace operations,” he added.Flight traffic limits had been set in place as a consequence of the record-long US budget shutdown, which began on October 1 and ended on Wednesday.Hundreds of thousands of federal employees were furloughed while others, considered essential, were called to work without pay.Among the latter were thousands of air traffic controllers, but absenteeism increased among a workforce that was already suffering from staff shortages before the shutdown.Still, as traffic returns to normal, the six percent reduction in domestic flights at twelve high-traffic airports, implemented on November 13 by the US aviation regulator (FAA), remained in place until further notice.But according to Cirium, an aviation data provider, only two percent of scheduled flights on Friday morning in the US had been canceled.The airports in Atlanta, Chicago-O’Hare, Newark, Dallas Fort Worth, and Denver were the most affected with about twenty cancellations each.

The United States and Switzerland said Friday that they have reached an agreement to sharply lower tariffs imposed by President Donald Trump, with the Alpine nation vowing to invest $200 billion in the US to win over the White House.The deal was announced a day after talks in Washington, where Swiss economy minister Guy Parmelin visited in hopes of easing steep duties the Trump administration rolled out this year.Trump shocked Switzerland in August when he slapped an added 39-percent duty on imports of goods from the country, among the highest in his global tariff blitz.The latest framework agreement brings this tariff down to 15 percent for Switzerland and Liechtenstein products, the White House said.The new rate will serve as a ceiling for goods previously tariffed at lower levels, while goods already facing tariffs above 15 percent will not be additionally hit — similar to US deals with other key partners.”We’ve essentially reached a deal with Switzerland,” US Trade Representative Jamieson Greer told CNBC in an interview.He added that the Swiss would send manufacturing, such as pharmaceuticals, gold smelting and railway equipment, to US shores.A White House statement said the countries hope to conclude their full pact by the first quarter of 2026.As part of the deal, “Swiss companies intend to make $200 billion in direct investments in the United States by the end of 2028,” a Swiss government statement said. This would also include efforts to strengthen vocational education and training.- Cautious relief -The high tariff rate had jeopardized entire sectors of the export-heavy Swiss economy, notably watchmaking and industrial machinery, but also chocolate and cheese.While the pharmaceutical industry, Switzerland’s largest export sector, enjoys exemptions from these sweeping tariffs, it faced regular threats that Trump would soon target them too.The Trump administration has excluded specific sectors from its countrywide tariff rates, but has been pursuing investigations that lead to industry-specific duties.The latest deal brings some relief by committing that pharmaceutical goods and semiconductors of Switzerland and Liechtenstein face a maximum tariff of 15 percent if Washington were to impose fresh duties on these sectors.In turn, both countries intend to remove some tariffs across agriculture and industrial sectors, including on various nuts, fish and seafood, the White House added.They also plan to refrain from imposing digital services taxes, the US statement said.Parmelin said Friday that discussions will continue for key products like industrial machinery, steel, aluminum, coffee and cheese.Swissmem, the association of the mechanical and electrical engineering industry, expressed relief at Friday’s announcement.Swiss businesses have been worried that their competitors in other wealthy economies will have an edge over them, given that the European Union and Japan had negotiated lower tariff levels of 15 percent.While Swissmem noted that the deal brings “temporary relief,” its president Martin Hirzel warned that “we must not let our guard down. New tariffs could be introduced.”Last week, the heads of six top Swiss firms, including watchmaker Rolex and luxury goods giant Richemont, met with Trump to plead for relief from the tariffs.Yves Bugmann, president of the Federation of the Swiss Watch Industry, said the announced tariff reduction was good news for an industry facing challenges including an unpredictable Chinese market.He added that the high rate had been “unjustified and caused a great deal of uncertainty” in the sector.Trump has imposed sweeping duties on trading partners around the world since returning to the presidency, with separate levies on specific sectors like steel, aluminum and autos.

Police in California investigating the shooting of an American football coach from the hit Netflix documentary series “Last Chance U” said Friday they have made an arrest.John Beam, a coach and father figure who has tutored generations of athletes at Oakland’s Laney College, was shot in the head on campus on Thursday.Beam, 66, was rushed to the hospital after the attack by a person wearing a dark hoodie, where he was said to be in  critical condition.The shooting sparked police appeals for help, as former players and public officials heaped praise on Beam.Oakland Mayor Barbara Lee called him “a giant in Oakland — a mentor, an educator, and a lifeline for thousands of young people.””For over 40 years, he has shaped leaders on and off the field.”The suspect, whom the San Francisco Chronicle named as Cedric Irving Jr, was taken into custody at a train station near Oakland before dawn Friday.The paper cited a source close to the investigation saying Irving had confessed to the shooting.Oakland Police confirmed on social media that a suspect had been arrested, but did not  identify him.”Last Chance U” ran for five seasons on Netflix, chronicling the lives and struggles of young men playing on the football teams at US community colleges.The first two seasons were set in Mississippi, the next two in Kansas, with the final season — which debuted in 2020 — set in Oakland, a city in the San Francisco Bay Area.The show looks at the role that such programs play in offering discipline and opportunity to young men who often lack both.Some of those who participate in these teams are hoping to move from their community college — publicly funded institutions that offer associate degrees — to larger universities with more developed football programs that feed into the professional NFL.Collegiate-level sport in the United States has a huge following, and can make stars of very young athletes well before they turn professional.Some colleges have football stadiums that hold more than 100,000 fans, which are fully packed for every game.Many football fans avidly follow these theoretically amateur teams, despite the ever-changing cast of players.

A South Carolina man who pleaded guilty to three murders is to be put to death by firing squad on Friday, the third such execution in the southern US state this year.Stephen Bryant, 44, was convicted of killing three people during a 2004 crime spree, writing the message “catch me if u can” in the blood of one of his victims.Bryant is to be executed at 6:00 pm (2300 GMT) at a prison in the state capital Columbia.South Carolina has executed two convicted murderers by firing squad this year, the first such executions in the United States in 15 years.Since the US Supreme Court reinstated the death penalty in 1976, the vast majority of executions in the country have been conducted by lethal injection.A man convicted of raping and murdering a six-year-old girl was executed by lethal injection in Florida on Thursday. It was state’s 16th execution in 2025, the most in the nation.There have been five each in Alabama and Texas.According to the South Carolina Department of Corrections (SCDC), Bryant will be restrained in a metal chair with a hood over his head 15 feet (five meters) away from a wall with a rectangular opening.A three-person firing squad of SCDC volunteers will shoot through the opening.All three rifles will have live ammunition, and an “aim point” will be placed over the condemned man’s heart.There have been 42 executions in the United States this year, the most since 2012, when 43 inmates were put to death.Thirty-five of this year’s executions have been carried out by lethal injection, two by firing squad and five by nitrogen hypoxia, which involves pumping nitrogen gas into a face mask, causing the prisoner to suffocate.The use of nitrogen gas as a method of capital punishment has been denounced by United Nations experts as cruel and inhumane.The death penalty has been abolished in 23 of the 50 US states, while three others — California, Oregon and Pennsylvania — have moratoriums in place.President Donald Trump is a proponent of capital punishment and, on his first day in office, called for an expansion of its use “for the vilest crimes.”

The United States and Switzerland reached an agreement Friday to sharply lower tariffs imposed by President Donald Trump, officials said, with the Alpine nation vowing to invest $200 billion in the US to win over the White House.The deal was announced a day after talks in Washington, where Swiss economy minister Guy Parmelin visited in hopes of easing steep duties the Trump administration rolled out this year.Trump shocked Switzerland in August when he imposed a 39-percent duty on imports of goods from the country, among the highest in his global tariff blitz.”We’ve essentially reached a deal with Switzerland. So we’ll post details of that today on the White House website,” US Trade Representative Jamieson Greer told CNBC in an interview.Switzerland’s government said it and the United States have reached an agreement where US tariffs will be slashed from their current 39-percent level to 15 percent.As part of the deal, “Swiss companies intend to make $200 billion in direct investments in the United States by the end of 2028,” a government statement said. This would also include efforts to strengthen vocational education and training.Greer said the Swiss would send manufacturing, such as pharmaceuticals, gold smelting and railway equipment to US shores.- Cautious relief -The high tariff rate had jeopardized entire sectors of the export-heavy Swiss economy, notably watchmaking and industrial machinery, but also chocolate and cheese.While the pharmaceutical industry, Switzerland’s largest export sector, had enjoyed an exemption from tariffs on medications, it faced regular threats that Trump would soon target them too.Swissmem, the association of the mechanical and electrical engineering industry, expressed relief at Friday’s announcement.Swiss businesses have been worried that their competitors in other wealthy economies will have an edge over them, given that the European Union and Japan had negotiated lower tariff levels of 15 percent.While Swissmem noted that the deal brings “temporary relief,” its president Martin Hirzel warned that “we must not let our guard down. New tariffs could be introduced.”Last week, the heads of six top Swiss firms, including watchmaker Rolex and luxury goods giant Richemont, met with Trump to plead for relief from the tariffs.Yves Bugmann, president of the Federation of the Swiss Watch Industry, said that the announced tariff reduction was good news for an industry facing challenges including an unpredictable Chinese market.He added that the high rate had been “unjustified and caused a great deal of uncertainty” in the sector.Trump has imposed sweeping duties on trading partners around the world since returning to the presidency, with separate levies on specific sectors like steel, aluminum and autos.nl-noo-bys-arp/mlm

A new prosecutor has taken over the election interference case in the US state of Georgia against President Donald Trump after the previous district attorney was removed.Peter Skandalakis, the executive director of the Prosecuting Attorneys’ Council of Georgia, said in a statement on Friday that he was stepping in to oversee the case.Trump and 18 co-defendants were charged with racketeering and other offenses in Georgia in 2023 over their alleged efforts to subvert the results of the 2020 presidential election in the southern state.A Georgia appeals court in December disqualified Fulton County district attorney Fani Willis from the case citing the “impropriety” of an intimate relationship she had with the man she had hired to be a special prosecutor.Following Willis’s disqualification, Superior Court Judge Scott McAfee had set a Friday deadline for a new prosecutor to be named or the case would be dismissed.”While it would have been simple to allow Judge McAfee’s deadline to lapse or to inform the Court that no conflict prosecutor could be secured — thereby allowing the case to be dismissed for want of prosecution — I did not believe that to be the right course of action,” Skandalakis said.”The public has a legitimate interest in the outcome of this case,” he said. “My only objective is to ensure that this case is handled properly, fairly, and with full transparency discharging my duties without fear, favor, or affection.”Trump and his 18 co-defendants were indicted for allegedly conspiring to overturn the results of the 2020 election in Georgia, where the Republican lost to Democrat Joe Biden.Four of those indicted subsequently pleaded guilty to lesser charges.Trump is unlikely to go on trial in Georgia while he is in the White House but the case could potentially proceed against the remaining co-defendants.Trump granted pardons over the weekend to several allies accused of attempting to subvert the 2020 election, but the pardons only apply to federal crimes, not state offenses such as those in Georgia.Among those who received pardons were former New York mayor Rudy Giuliani and Trump’s former chief of staff Mark Meadows, both of whom face charges in Georgia.Trump also faced two federal cases but they were dropped by special counsel Jack Smith after the November 2024 election under the Justice Department policy of not indicting or prosecuting a sitting president.Trump was accused of conspiring to overturn the 2020 election results and of removing large quantities of top secret documents after leaving the White House, but neither case came to trial.

US President Donald Trump claimed Friday that pressure to release details of Jeffrey Epstein’s alleged sex abuse network is a “hoax” pushed by Democratic opponents.”The Democrats are doing everything in their withering power to push the Epstein Hoax again,” the Republican wrote on his Truth Social platform, adding that lawmakers in his party joining the effort to force publication of the Epstein files are “soft and foolish.”Trump’s angry message came as the Epstein scandal escalated, with growing questions over the 79-year-old president’s long, close relationship with the disgraced late financier.Epstein died in prison in 2019 — by suicide, authorities ruled — before he could face trial on federal sex charges. But questions over his alleged masterminding of a sex ring where powerful men were provided with underaged girls only grew.Trump and some of his close allies had in the past promised to their right-wing base they would seek the release of all the evidence against Epstein, including details of his alleged clients.However, since entering the White House in January, Trump has fought hard to put a lid on the issue.The scandal peaked again with release of emails subpoenaed by Congress from Epstein’s estate. The email traffic between Epstein and friends, as well as other materials, confirm that Trump had close relations with the financier, although he has not been accused of any wrongdoing.Now the House of Representatives will vote as early as next week on demanding release by the Justice Department of its materials on Epstein.Those materials could include far more damning evidence than has been previously seen on the links between Epstein and his circle, which over the years ranged from Trump to Britain’s ex-prince Andrew.If a US House majority votes for the release, the Republican-controlled Senate would still have to give its approval and Trump would then also need to sign the bill.Trump on Friday made clear he does not want the effort to proceed.”Epstein was a Democrat, and he is the Democrat’s problem, not the Republican’s problem!” he wrote. “Don’t waste your time with Trump. I have a Country to run!”

Global stock markets slumped further Friday as doubts built over whether the US Federal Reserve would cut interest rates next month and persistent fears of a tech bubble.Crude prices rallied as analysts cited risks to Russian oil flows due to Ukrainian strikes and US sanctions.On Wall Street, the Dow shed 1.1 percent to stand at 46,929.78 points some 25 minutes into the session, while the tech-heavy Nasdaq was off 1.9 percent at 22,436.79 points — having ended two percent down Thursday.The S&P 500 fell almost 1.5 percent — losses mirrored on major European and Asian indices.London struggled after UK government bonds and the pound slid following reports that finance minister Rachel Reeves has scrapped plans to hike income tax in her budget speech this month. Analysts said the reports heightened concerns about UK public finances. “After an extraordinary run that began in April, the tech sector has finally started to wobble, with valuations looking overstretched in recent weeks,” said Fawad Razaqzada, market analyst for StoneX.”It wouldn’t be surprising if markets stayed a bit jumpy for a while yet, though it’s still premature to call the top of this cycle,” he added.- ‘volatile week’ -“It’s certainly been a volatile week… with relief over the end of the (US government) shutdown vying with concerns over AI valuations and whether the Fed will cut rates again,” said Jim Reid, managing director at Deutsche Bank.Traders trimmed bets on a December rate cut after several Fed officials voiced concerns about cutting borrowing costs while inflation remained stubbornly high.  For much of the year, equities have been boosted by optimism that rates would come down, and the Fed has delivered at its past two meetings.But comments from Fed boss Jerome Powell last month that a December repeat was not “a foregone conclusion” sowed the seeds of doubt.Investors also awaited the release of economic data that had been held up by the record US government shutdown, with jobs and inflation the main focus, even though some statistics are expected to be incomplete.The dimmer outlook for rates compounded worries that the tech sector may be overpriced after an AI-fuelled surge that sent markets to record highs this year.”The tech-sector rout from Wall Street spilled across the globe,” on Friday, noted Joshua Mahony, chief market analyst at Scope Markets.Oil prices rallied some two percent, rebounding days after the commodity tumbled on OPEC’s monthly report which forecast an oversupply in the third quarter.The International Energy Agency on Thursday flagged risks to Russian output caused by US sanctions imposed last month, including on the country’s top two producers.- Key figures at around 1445 GMT -New York – Dow: DOWN 1.1 percent at 46,929.78 pointsNew York – S&P 500: DOWN 1.3 percent at 6,646.91New York – Nasdaq Composite: DOWN 1.9 percent at 22,436.79London – FTSE 100: DOWN 1.6 percent at 9,657.52 pointsParis – CAC 40: DOWN 1.4 percent at 8,120.54Frankfurt – DAX: DOWN 1.3 percent at 23,676.79Tokyo – Nikkei 225: DOWN 1.8 percent at 50,376.53 (close)Hong Kong – Hang Seng Index: DOWN 1.9 percent at 26,572.46 (close)Shanghai – Composite: DOWN 1.0 percent at 3,990.49 (close)Dollar/yen: DOWN at 154.16 yen from 154.53 yen on ThursdayEuro/dollar: UNCHANGED at $1.1634 from $1.1634 Pound/dollar: DOWN at $1.3160 from $1.3189Euro/pound: UP at 88.41 pence from 88.21 penceWest Texas Intermediate: UP 2.2 percent at $59.96 per barrelBrent North Sea Crude: UP 1.9 percent at $64.16 per barrel

Markets sank Friday, tracking a selloff on Wall Street as doubts built over next month’s Federal Reserve interest rate decision and persistent speculation about a tech bubble.With the US shutdown saga now out the way, focus returned to the central bank’s policy meeting next month, when officials will decide whether or not to lower borrowing costs again.For much of the year, equities have been boosted by optimism that rates would come down, despite persistent inflation — and the Fed has delivered at its past two gatherings.But comments from bank boss Jerome Powell last month that a December repeat was not “a foregone conclusion” sowed the seeds of doubt, while several other decision-makers have made similar noises.The latest came this week, with three regional presidents voicing concerns about moving while inflation remained stubbornly high.St. Louis head Alberto Musalem urged “caution”, adding that “there’s limited room for further easing without monetary policy becoming overly accommodative”.His Minneapolis counterpart Neel Kashkari, who called for a pause in October, pointed to “underlying resilience in economic activity, more than I had expected”.And Cleveland’s Beth Hammack told the Pittsburgh Economic Club: “On balance, I think we need to remain somewhat restrictive to continue putting pressure to bring inflation down toward our target.”She called current rates “barely restrictive, if at all” and that “we need to keep rates around these levels”. The comments come as investors await the release of economic data that had been held up by the record shutdown, with jobs and inflation the main focus, even though some are expected to be incomplete.”As we await this schedule, we’ve seen some recalibration of expectations around whether the Fed cuts by 25 basis points on 10 December,” wrote Pepperstone’s Chris Weston. He added that markets saw a 52 percent chance of a cut, down from 60 percent the day before.The dimmer outlook for rates compounded worries that the tech sector may be overpriced after an AI-fuelled surge this year that has sent markets to records.There is growing talk that the mind-boggling amounts of cash invested in artificial intelligence may take some time to be realised as profit.Chip titan “Nvidia’s earnings (are) the key bottom-up focal point next week — potentially prompting traders to de-risk, lock in performance and sit tight until the tape turns and risk appetite returns into year-end”, said Weston.All three main indexes on Wall Street ended well in the red, with the tech-rich Nasdaq down more than two percent, while the Dow and S&P 500 were each off 1.7 percent.And Asia followed the lead, having enjoyed a broadly positive week.Tokyo, Hong Kong, Sydney, Singapore, Wellington, Bangkok and Taipei all shed at least one percent. Seoul — which has hit multiple tech-fuelled records of late — shed nearly four percent, and Manila more than two percent.There were also losses in Mumbai.London, Paris and Frankfurt extended Thursday’s losses.Shanghai was also hit by fresh data showing growth in Chinese retail sales slowed in October for the fifth successive month, as leaders struggle to revive consumption in the world’s number two economy.Oil rallied after the International Energy Agency flagged risks to Russian output caused by hefty sanctions imposed by Washington last month, including the country’s top two producers.The IEA said the decision could have “the most far-reaching impact yet on global oil markets”.Friday’s gains of more than one percent came days after the commodity tumbled following OPEC’s monthly crude market report, which forecast an oversupply in the third quarter.- Key figures at around 0705 GMT -Tokyo – Nikkei 225: DOWN 1.8 percent at 50,376.53 (close)Hong Kong – Hang Seng Index: DOWN 1.9 percent at 26,572.46 (close)Shanghai – Composite: DOWN 1.0 percent at 3,990.49 (close)London – FTSE 100: DOWN 0.9 percent at 9,715.30 Dollar/yen: UP at 154.66 yen from 154.53 yen on ThursdayEuro/dollar: UP at $1.1636 from $1.1634 Pound/dollar: DOWN at $1.3152 from $1.3189Euro/pound: UP at 88.43 pence from 88.21 penceWest Texas Intermediate: UP 1.6 percent at $59.63 per barrelBrent North Sea Crude: UP 1.5 percent at $63.92 per barrel

Asian markets sank Friday, tracking a selloff on Wall Street as doubts built over next month’s Federal Reserve interest rate decision and persistent speculation about a tech bubble.With the US shutdown saga now out the way, focus returned to the central bank’s policy meeting next month, when officials will decide whether or not to lower borrowing costs again.For much of the year, equities have been boosted by optimism that rates would come down, despite persistent inflation — and the Fed has delivered at its past two gatherings.But comments from bank boss Jerome Powell last month that a December repeat was not “a foregone conclusion” sowed the seeds of doubt, while several other decision-makers have made similar noises.The latest came this week, with three regional presidents voicing concerns about moving while inflation remained stubbornly high.St. Louis head Alberto Musalem urged “caution”, adding that “there’s limited room for further easing without monetary policy becoming overly accommodative”.His Minneapolis counterpart Neel Kashkari, who called for a pause in October, pointed to “underlying resilience in economic activity, more than I had expected”.And Cleveland’s Beth Hammack told the Pittsburgh Economic Club: “On balance, I think we need to remain somewhat restrictive to continue putting pressure to bring inflation down toward our target.”She called current rates “barely restrictive, if at all” and that “we need to keep rates around these levels”. The comments come as investors await the release of economic data that had been held up by the record shutdown, with jobs and inflation the main focus, even though some are expected to be incomplete.”As we await this schedule, we’ve seen some recalibration of expectations around whether the Fed cuts by 25 basis points on 10 December,” wrote Pepperstone’s Chris Weston. He added that markets saw a 52 percent chance of a cut, down from 60 percent the day before.The dimmer outlook for rates compounded worries that the tech sector may be overpriced after an AI-fuelled surge this year that has sent markets to records.There is growing talk that the mind-boggling amounts of cash invested in artificial intelligence may take some time to be realised as profit.Chip titan “Nvidia’s earnings (are) the key bottom-up focal point next week — potentially prompting traders to de-risk, lock in performance and sit tight until the tape turns and risk appetite returns into year-end”, said Weston.All three main indexes on Wall Street ended well in the red, with the tech-rich Nasdaq down more than two percent, while the Dow and S&P 500 were each off 1.7 percent.And Asia followed the lead, having enjoyed a broadly positive week.Tokyo, Hong Kong, Sydney, Singapore, Wellington, Bangkok and Taipei all shed at least one percent. Seoul — which has hit multiple tech-fuelled records of late — shed more than three percent, and Manila two percent.There were also losses in Mumbai.Shanghai was also hit by fresh data showing growth in Chinese retail sales slowed for the fifth successive month in October, as leaders struggle to revive consumption in the world’s number two economy.Oil rallied after the International Energy Agency flagged risks to Russian output caused by hefty sanctions imposed by Washington last month, including the country’s top two producers.The IEA said the decision could have “the most far-reaching impact yet on global oil markets”.Friday’s gains of more than one percent came days after the commodity tumbled following OPEC’s monthly crude market report, which forecast an oversupply in the third quarter.- Key figures at around 0705 GMT -Tokyo – Nikkei 225: DOWN 1.8 percent at 50,376.53 (close)Hong Kong – Hang Seng Index: DOWN 1.7 percent at 26,620.98Shanghai – Composite: DOWN 1.0 percent at 3,990.49 (close)Dollar/yen: UP at 154.61 yen from 154.53 yen on ThursdayEuro/dollar: UP at $1.1636 from $1.1634 Pound/dollar: DOWN at $1.3143 from $1.3189Euro/pound: UP at 88.53 pence from 88.21 penceWest Texas Intermediate: UP 1.6 percent at $59.64 per barrelBrent North Sea Crude: UP 1.5 percent at $63.93 per barrel