Category: Flash News

On January 16th, Southwest Airlines was sued by the US Department of Transportation for allegedly violating regulations that require airlines to develop and meet actual flight schedules. The agency stated in a statement on Wednesday that the airline is responsible for “long-term, illegal flight delays” that disrupt passenger travel plans. The US Department of Transportation stated in a lawsuit filed in Oakland Federal Court in California that it will seek the “highest civil penalty” against Southwest Airlines. Southwest Airlines stated in another statement, “We are disappointed that the Department of Transportation has chosen to file a lawsuit against two flights that occurred over two years ago.” The airline stated that since the Department of Transportation issued policies targeting long-term delays in 2009, Southwest Airlines has operated over 20 million flights without such violations.

On January 16, the Russian Ministry of Defense announced in the early morning of the 16th that, in response to Ukraine’s attacks on the depth of Russian territory using the ATACMS long-range missiles produced by the United States and the “Shadow of the Storm” cruise missiles produced by the United Kingdom, as well as its attempts to attack the “Russian” compression station located in Guy Kodzor village, Krasnodar border region, in order to disrupt the supply of the “Türkiye Creek” natural gas pipeline, on the morning of January 15, the armed forces of the Russian Federation used high-precision weapons to carry out a concentrated attack on key natural gas and energy infrastructure targets in Ukraine. One of the successfully hit targets is the surface infrastructure of Europe’s largest underground natural gas storage facility located in the city of Str é in Lviv Oblast.

On January 16th, Rio Tinto produced 15.4 million tons of bauxite in the fourth quarter, a year-on-year increase of 2%, with an estimated 13.62 million tons; The production of alumina is 1.99 million tons, a year-on-year increase of 3.8%, estimated at 1.8 million; Aluminum production is 837000 tons, a year-on-year decrease of 1.1%, estimated at 858488. Rio Tinto still predicts bauxite production of 57 million to 59 million tons, alumina production of 7.4 million to 7.8 million tons, and aluminum production of 3.25 million to 3.45 million tons.

On the evening of January 15th local time, Qatar, Egypt, and the United States issued a joint statement announcing that Israel and the Palestinian Islamic Resistance Movement (Hamas) had reached an agreement on a ceasefire in the Gaza Strip and the exchange of detainees. The statement stated that the agreement aims to achieve a permanent ceasefire and restore peace in the Gaza Strip. The statement also stated that the agreement will come into effect on January 19, 2025 and will be implemented in three phases. The first phase will last for 42 days, with both sides implementing a ceasefire and exchanging detainees. The Israeli army will withdraw from densely populated areas in Gaza, displaced people from Gaza will return to their homes in northern Gaza, and more humanitarian aid will enter the Gaza Strip. The statement also stated that Qatar, Egypt, and the United States, as guarantor countries of the agreement, aim to ensure the full implementation of the three stages of the agreement. At the same time, the sponsoring country will coordinate with partners from the United Nations and the international community to rapidly and continuously increase humanitarian aid to the Gaza Strip in accordance with the agreement. The sponsoring country urges the international community to provide support for this.

On the afternoon of January 15th local time, the United Nations Security Council passed a resolution to extend the resolution on Red Sea security until July 15th. China, Russia, and Algeria abstained. On June 27, 2024, the Security Council extended the relevant content of Resolution 2722 for six months through Resolution 2739, with China, Russia, and Algeria abstaining. The Chinese side has repeatedly called on the Houthi armed forces to respect the navigation rights of foreign merchant ships in the Red Sea waters in accordance with international law. We urge the Houthi armed forces to listen to the voices of the international community and comply with relevant Security Council resolutions, stop harassing civilian ships, maintain the safety of the Red Sea waterway, and call on all parties concerned to strictly abide by the United Nations Charter, avoid misinterpreting and abusing international law and Security Council resolutions, and create new tensions in the Red Sea waters.

On January 16th, the Nasdaq China Golden Dragon Index closed up 0.97%, with most popular Chinese concept stocks rising. NetEase rose over 8%, Xiaopeng Motors and Futu Holdings rose over 3%, and Baidu and Pinduoduo rose over 2%; Ideal Auto and Miniso fell by over 2%.

On January 16th, outgoing US Treasury Secretary Janet Yellen warned that the next administration’s plan to extend the 2017 Republican tax cuts could disrupt financial markets and worsen the already challenging US fiscal outlook. The expected fiscal path under the current budget policy is fundamentally unsustainable, and failure to take action or actions that exacerbate the expected deficit could have terrible consequences, “Yellen said on Wednesday, in what could be her last speech during her tenure. In her speech at the New York Business Economics Association, Yellen stated that extending the tax cuts during Trump’s first term “could weaken our country’s strength, from the resilience of the US bond market to the value of the dollar, and even trigger a debt crisis in the future. She also stated that such ‘wrong economic decisions’ will affect the long-term economic prospects and impose a heavy burden on the next generation.

On January 16th, the Federal Reserve stated in its brown book report on regional business contacts that US economic activity grew at a “mild to moderate” pace in late November and December, driven by strong holiday sales. The report shows a slight overall increase in employment, with half of the 12 Federal Reserve jurisdictions reporting a slight increase in recruitment numbers and six regions remaining unchanged. Some contacts in the service industry, especially in the healthcare industry, see continued job growth, “said the report released on Wednesday. However, employment in the manufacturing industry remains stable. At the same time, prices have generally risen moderately. Most contacts in various regions reported a moderate increase in sales prices, but there were also cases of price stability or decline, particularly in the retail and manufacturing industries, “the report stated. This brown book report was compiled by the Federal Reserve Bank of Chicago based on information collected on or before January 6th, including anecdotes and commentary on the business operations of 12 Federal Reserve jurisdictions. The report states that the information collected was prior to the recent wildfires in the Los Angeles area.

On January 16, Türkiye’s Foreign Minister Ferdinand said on January 15 local time that Türkiye’s consulate in Aleppo, Syria, would start operation on January 20. On the same day, Foreign Minister Fedan of Türkiye met with Foreign Minister Shibani of the Syrian Transitional Government and held a joint press conference. Feidan stated that both sides discussed issues such as the situation in Syria during the talks. In addition, Fedan said that Türkiye’s consulate in Aleppo will be officially opened on January 20, and Türkiye Airlines will also resume flights to Syria.

On January 16th, the Israeli Prime Minister’s Office issued a statement on the evening of the 15th local time, stating that due to the strong demand of Israeli Prime Minister Netanyahu, Hamas abandoned its request to modify the deployment of Israeli troops in the Philadelphia corridor at the last minute. However, as of now, several matters within the framework of the ceasefire agreement have not been finalized, and Israel hopes to finalize the details that evening. Palestinian Prime Minister Mohamed Mustafa, who is currently on a visit to Norway, stated that the Gaza ceasefire agreement must ensure that Israel permanently stops its aggression against the Gaza Strip, lift Israel’s 17 year blockade of the Gaza Strip, allow aid supplies to enter all areas of the Gaza Strip, consider the Gaza Strip and the West Bank as part of Palestinian unity, fully initiate the reconstruction of the Gaza Strip, and implement relevant United Nations resolutions to end Israeli occupation and establish a Palestinian state.