FAA to Cut Flights Amid US Government Shutdown
The Federal Aviation Administration (FAA) is preparing to reduce air traffic across approximately 40 major US airports due to safety concerns stemming from the ongoing government shutdown, now the longest in US history. Starting Friday, the FAA plans to cut around 4% of flights, gradually increasing this to a 10% reduction in the coming week.
Airports such as JFK, LaGuardia, Atlanta, and Los Angeles are expected to face significant schedule changes. Airlines are scrambling to adjust flight schedules and notify passengers about delays. The situation has left thousands of air traffic controllers working without pay, complicating staffing and increasing delays. International flights will remain unaffected by the cuts, but domestic air travel is projected to face considerable disruptions.
Russian Oil Prices Plummet Amid New Sanctions
Russian oil prices are experiencing steep declines as major buyers in India and China retreat under newly implemented US sanctions targeting Russian oil giants Rosneft and Lukoil. December deliveries of Russia’s Urals crude are now trading at a $4 per barrel discount compared to Brent crude, marking one of the largest price gaps in recent times.
India, accounting for 65% of Russian oil imports, has seen refiners such as Hindustan Petroleum and Reliance pause purchases, while China’s state-run refiners have similarly limited their intake. The sanctions have led to a significant reshuffle in Asia’s buying landscape, weakening Moscow’s bargaining power and further straining Russia’s revenue-dependent oil exports.
Major Price Relief for GLP-1 Weight-Loss Drugs
Shares of Novo Nordisk and Eli Lilly surged as the Trump administration unveiled a federal plan to lower the cost of GLP-1-based weight-loss drugs, such as Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound. New Medicare and Medicaid subsidies, combined with a government program called TrumpRx launching in January 2026, are set to make these treatments much more affordable for patients.
Currently priced at over $1,000, these drugs could cost as little as $150 per month under this plan. Analysts highlight that Eli Lilly, with its upcoming oral GLP-1 drugs, stands to gain a distinct competitive edge in the market. For more on Wegovy, visit Novo Nordisk’s official website.
Trump Pushes for US Crypto Leadership
In a bold move to strengthen the US’s position in the global financial landscape, President Donald Trump announced a new plan to make the US a dominant force in Bitcoin and digital assets. Speaking at the America Business Forum in Miami, Trump pledged to remove regulatory hurdles and foster innovation in the blockchain and cryptocurrency sectors.
Trump emphasized the strategic importance of embracing digital currencies to improve the US dollar’s resilience and counter competition from nations like China. The plan ties digital finance leadership to broader technological advancements, echoing similar efforts in artificial intelligence. Trump stated, ‘We must not fall behind in Bitcoin innovation if we aim to remain the world’s financial leader.’
