Latest News
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Wall Street Journal, January 12,
These are the most popular stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. U.S. prosecutors have opened an investigation into Federal Reserve chair Jerome Powell for his testimony about the renovation of the building at the Federal Reserve Bank last summer. Allegiant Travel has reached a deal worth $1.1 billion to purchase Sun Country Airlines. This is despite the fact that budget airlines in the U.S. are facing stiff competition from their larger competitors. Walmart plans to expand drone deliveries to '150 more stores in the next year, with a goal of 'over 270 locations before late 2027. Google has released a toolkit for retailers to help them implement AI agents. The goal is to make it easier for brands to reach customers using the technology. The U.S. president Donald Trump announced on Sunday that he might block Exxon Mobil's investment in Venezuela, after the CEO of the oil company called the country "uninvestable", during a White House meeting held last week. Senior officials from the U.S. administration will brief President Donald Trump on Tuesday about specific options for responding to protests in Iran.
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Allegiant acquires Sun Country Airlines for $1.5 Billion
Allegiant, a low-cost airline, will buy Sun Country Airlines for $1.5 billion including debt. Sun Country shareholders receive 0.1557 Allegiant Shares and $4.10 cash per share. This values the stock at about $18.89. That's a 19.8% premium to the Friday closing price of $15.77. The deal will increase the number of destinations that the combined company can serve in the United States as well as on international markets. The fleet will consist of about 195 aircraft with options and additional orders. The combined company will have its headquarters in Las Vegas and is expected to generate annual synergies of $140 million by the third full year following the closing. In addition, the transaction should increase earnings per share in the first year. The transaction is expected to be completed in the second half of 2026. After the merger, Allegiant shareholders and Sun Country investors will own approximately 67% and 33 % of the combined company. Allegiant CEO 'Gregory Anderson' will be the chief executive of the combined company, Robert Neal as president and chief financial officers. Sun Country CEO Jude Bricker joins the board of director.
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Nordics reject Trump’s claim that Chinese and Russian vessels are near Greenland. FT reports
Financial Times reports that Nordic diplomats have rejected Donald Trump's claim of Russian and Chinese vessels near Greenland. The FT reported that there have been no signs in recent years of Russian or 'Chinese' ships?or subs around Greenland, citing senior Nordic diplomats who had access to NATO intelligence. The report could not be verified immediately. The White House as well as NATO have not responded to comments. It is simply not true. I've?seen intelligence. The FT quoted a senior?diplomat who said, "There are no submarines or ships." A second Nordic diplomat has said that claims that Russian and Chinese vessels were "crawling" in the waters surrounding Greenland are unfounded. They added that this activity is on the Russian side of the Arctic. Trump has repeatedly said that Russian and Chinese ships are operating near Greenland. Denmark disputes this claim. He hasn't provided any evidence. Trump said that the U.S. should own Greenland - an autonomous part within the Kingdom of Denmark - to stop Russia or China from occupying this strategically located, mineral rich territory. Lars Lokke Rasmussen, Danish Foreign Minister, said this week that the image of Russian and Chinese vessels right inside?Nuuk Fjord with massive Chinese investments is incorrect. MarineTraffic data and LSEG vessel tracking data show that there are no Chinese or?Russian ships near Greenland. Greenland’s Assembly said late Friday that it would convene a meeting on Monday to discuss the response to U.S. threat to take control of island. Trump's renewed push to get Greenland after the U.S.'s military intervention in Venezuela worries many of Greenland's 57,000 residents, who have a common goal to become an independent country.
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Dar Global and Trump Organization Launch $10 Billion Saudi Developments
Ziad El Chaar, CEO of Saudi real estate developer Dar Global, announced on Sunday that two Trump-branded luxury projects will be launched in Riyadh (Saudi Arabia) and Jeddah (Jordan). Chaar said that the projects include the Trump National Golf Course in Riyadh and the Trump International Hotel at Diriyah. This is a massive project located on the western edge of the Saudi capital. Chaar said that a mixed-use development called Trump Plaza is planned for Jeddah. Chaar stated that the projects were in line with Saudi Arabia's Vision 2030, which aims to diversify its economy and move away from oil. The aim is to attract direct foreign investment. Saudi Arabia will also allow foreigners to own property in certain areas for the first-time starting this month. According to Eric Trump, son of U.S. president Donald Trump and executive vice-president of the Trump Organization, the latest in a long line of partnerships between the Trump Organization and Dar Global (the international arm of Saudi developer Dar Al Arkan) is expected to be completed within the next four or five years. (Reporting and editing by Tomasz Janovski and David Goodman in Riyadh)
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Maersk is exploring more ethanol for green fuel in order to reduce its reliance on China.
The Financial Times published an interview with Maersk's CEO, Vincent Clerc, on Sunday. This could reduce the company's dependence on China, and help the industry to decarbonise. Clerc stated that the U.S. and Brazil are the leading producers of ethanol in the world. Clerc?told FT that if all the benefits are concentrated in China then some countries may object. But if they're more evenly distributed then many more will be supportive ?.?.?. It will allow more countries to see the benefits of the green transition. The shipping industry is more difficult than others to reduce emissions. This requires expensive retrofits for existing vessels or new ships that are able run on efuels. Hapag-Lloyd?and North Sea Container Line (NCL), two shipping companies, won a tender late last year to use low-emission fuels made from hydrogen on container ships starting in 2027. The contract will run for three years. (Reporting from Gnaneshwar rajan in Bengaluru, editing by Kate Mayberry.)
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Ukrainian drone attack injures four, damages buildings in Russia's Voronezh, governor says
The governor of Voronezh Region said that an overnight Ukrainian drone strike inflicted injuries on at least four people and caused damage to a number of buildings. The governor Alexander Gusev said on Telegram that an emergency service facility, six houses, and seven apartment buildings were damaged by the attack. The?reports could not be independently verified. Ukraine claims that it has been attacking targets in Russia since the Kremlin launched its war nearly four years ago. This is in response to the repeated drone and missile attacks on Ukrainian cities and infrastructure. Russia launched a missile at a Ukrainian site near NATO member Poland on Friday, an attack Kyiv's European partners characterized as a ploy to dissuade them from continuing their support for Ukraine. (Reporting and editing by Alistair Bell in Melbourne)
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Mississippi man accused in killing six people, including a 7-year old child and a pastor
Officials from law enforcement said that a man was arrested and charged for first-degree homicide in the deaths of six people on Friday night, including a young child, in Clay County, Mississippi. Clay County Sheriff Eddie Scott announced on Saturday that Daricka Moore, 24, is suspected of killing several members of her family and a pastor in the area before she was taken into custody. Officials said that the charge against Moore is likely to be upgraded to capital murder and a death penalty could be imposed if he is found to have mental competency. This is horrible. "This is as bad as it gets," said Scott Colom. He's the district attorney of Mississippi's Sixteenth Circuit Court. His jurisdiction includes Clay County. Scott claims that Moore shot his father, brother and uncle in the head, killing them, on Friday night. He then stole a truck, drove to another location, where he attempted to sexually abuse a 7-year old girl who was related to him before shooting her dead in the head. The?law enforcers responded to the 911 call and were directed to a third location where they found two other males who had been fatally shot. One of those men was a pastor from the area. Moore was arrested at a nearby area 'just before midnight', Scott reported. Scott stated that the motives of the murders were unknown. Scott said at a press conference that the incident had "really?shaken" his community. "I personally don't know why someone would kill a seven-year-old." Scott stated that autopsies will be conducted by the Mississippi Crime Lab. Moore will appear in court Monday. Clay County is located in northeastern Mississippi. It has a population close to 20,000. (Reporting and editing by Sergio Non in Houston, Mark Potter and Rod Nickel.
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Local media and law enforcement say that a suspect has been arrested after six people were killed in Mississippi
Local news outlets and police have not provided any additional information, but say that at least six people died after being shot in Clay County, Mississippi. The suspect is in custody. According to WTVA (an NBC News affiliate), the deaths took place at?three separate shooting locations. Eddie Scott, the Clay County Sheriff, announced on social media that the suspect was "in custody" and no longer posed a threat to 'our?community. WTVA reported that six people were killed. Scott and the Sheriff's Department did not immediately respond to an?ask for comment. Scott posted on Facebook: "I ask you to lift up our victims and their families in your prayers." Clay County is located in the?northeast part of Mississippi. It has a population close to 20,000. Reporting by Ernest Scheyder. (Editing by Sergio Non, Mark Potter and Mark Potter.
Jimmy Lai, the media tycoon of Hong Kong, begins his mitigation hearing ahead of sentencing
The Hong 'Kong High Court heard on Monday Jimmy Lai's mitigation plea, which is the final step before sentencing. This landmark trial in national security has been condemned internationally and could result in Lai being jailed forever.
Lai was found guilty last month of being "the mastermind" of two counts, including conspiracy to collude and collaborate with foreign forces in violation of a national security law imposed by China, as well as conspiracy to publish seditious materials.
Lai denies all charges.
Britain, Europe, and the United States all criticized the verdict. Hong Kong officials say Lai was given a fair trial, and that the new national security law restored stability to the city.
In hearings like Monday's, defence lawyers can ask for a lesser sentence than the 10-years-to-life imprisonment Lai may face based on the guidelines of the security law.
Lai was seated in a glass dock, with eight defendants including two key prosecution witnesses, Andy Li, and Wayland Chan, Tszwah. They were separated by a half dozen prison guards.
LAU'S PROSECUTOR SAYS HIS HEALTH STABLE
The prosecutor Anthony Chau has dismissed recent concerns about Lau's deteriorating health in prison. He cited a medical report from January 9 that described his condition as "stable".
"No obvious abnormality was detected," Chau said, referring back to the heart palpitations that Lai's lawyers had reported last August.
Lai, a long-time critic of the Chinese Communist Party and founder of the pro-democracy Apple Daily paper that is now closed, is the most prominent figure facing prosecution as a result of sweeping national security measures in the China-ruled City following massive pro-democracy demonstrations in 2019.
The judges found that Lai used his influence, and the Apple Daily newspaper to launch a campaign "to seek the downfall" of the CCP even though it cost the interests of the people of China and Hong Kong.
Priscilia Lai, an attorney for Wayland Chan who was a prosecution witness, requested that his sentence be reduced at least in half for serving as a "supergrass", or informant, and providing key evidence against Lai, the others,
Three other prosecution witnesses include Chan Pui-man, Apple Daily's former associate publisher, and Yeung Ching Kee, a former editorial writer.
Nearly 100 People Queued Outside Court
Nearly 100 people waited overnight outside the courthouse before the hearing. Some gathered three days prior to the hearing with sleeping bags and blankets, as well as cardboard sheets that they used for makeshift beds.
Lee Ying Chi, who had waited in line for days, said that many people still support Mr. Lai. "We hope he is released immediately." He has done nothing wrong."
In a recent interview, U.S. president Donald Trump stated that he asked Chinese President Xi Jinping for Lai's release, whom he described as a "positive advocate", but received no response.
Five UN Human Rights Council experts have also called for Lai’s release, citing humanitarian reasons. They said his conviction demonstrated a “dramatic decline” in fundamental rights and judicial autonomy.
(source: Reuters)