Thousands of flights still canceled as officials blamed ageing air control system for nationwide grounding The Trump administration says Friday’s four-hour nationwide Federal Aviation Administration (FAA) ground stop that delayed or canceled thousands of flight stemmed from routine maintenance. At a news briefing on Saturday, the US transportation secretary, Sean Duffy, said that the issues began when a contractor was performing “routine maintenance” at a remote FAA facility to “switch telecommunications lines” from copper wire to fiber optic cable. Continue reading...
US officials say flight stoppage stemmed from ‘routine maintenance’ as travel chaos continues
Source: The Guardian
Original reporting
The Guardian: read the full reportRelated stories
CNBC
Nvidia's leadership crisis rattles the AI trade. Here's how we're adjusting our portfolio
Despite the turbulence, the S&P 500 secured a weekly gain of 2.5%, while the tech-heavy Nasdaq added 2.3%.
CNBC
Nationwide ground stop followed contractor upgrade to L3Harris telecommunication system: DOT’s Duffy
The FAA ground stop came after updates to an older communication system managed by L3Harris Technologies, Transportation Secretary Sean Duffy said Saturday.
CNBC
Nvidia board urged to consider 'potential return of Jensen Huang' by two major investors
Two Nvidia investors with about $2.13 billion of stock disclosed as of June 30 are calling for a deliberate leadership search after Huang’s resignation.
The Guardian2 outlets
A rapid interest rate rise seems inevitable – and households are expected to pick up the tab
Raising borrowing costs too far risks laying waste to whatever growth there is in the economy A head of steam is building up behind the Bank of England raising interest rates again. With the latest forecasts by the central bank showing inflation rising to 5% next spring, another increase in the cost of borrowing seems inevitable, and may come as soon as next month. A growing number of analysts predict the Bank’s policymakers will don Scrooge masks when they meet on 17 December to deliver a message of austerity and sacrifice. Continue reading...
CNBC
How Nvidia turmoil and a Democratic Congress could reshape the AI trade, according to ETF experts
ETF experts say Nvidia’s leadership turmoil and Democratic control of Congress could shift AI demand to the benefit of other Big Tech stocks, rival chipmakers.
CNBC
Trump doesn’t plan to raise Nvidia, spy issue during China trip: U.S. officials
Nvidia CEO Jensen Huang resigned this week after reports of multiple affairs, including one with a suspected Chinese spy, Alice Huang.