Mid-Air Collision Updates

A devastating midair collision between an American Airlines regional jet and a U.S. Army helicopter near Ronald Reagan Washington National Airport claimed the lives of all 67 people on board both aircraft. The incident, which occurred just before 9 p.m. Wednesday, sent wreckage into the Potomac River, where at least 28 bodies have been recovered so far. The crash, now the deadliest U.S. aviation disaster in nearly 25 years, took place in one of the nation's most closely monitored airspaces, just miles from the White House and Capitol. Officials have not yet determined the cause of the collision. Trump stated that standards for air traffic controllers had been weakened under Presidents Barack Obama and Joe Biden and blamed diversity hiring policies.

Notes: The victims included teenage figure skaters returning from a national competition, their mothers and coaches, a college student who had attended her grandfather’s funeral, two Chinese nationals, and a group of hunters coming back from a guided trip. The helicopter carried three soldiers conducting a night training flight.

Sources: Associated Press, The New York Times, X

Kash Patel Faces Heated FBI Confirmation Hearing

Kash Patel, President Donald Trump’s nominee for FBI director, defended himself against accusations of political bias and retribution during a contentious Senate confirmation hearing. Discussions revolved around Patel's commitment to address historical issues like the Jeffrey Epstein case, transparency in government operations, and potential reforms within the FBI. Patel denied plans for politically motivated retaliation and dismissed concerns about an “enemies list,” while Republicans encouraged him to investigate past probes into Trump. With no public Republican opposition, Patel appears poised to take over the FBI, likely setting up tensions between the agency and other intelligence bodies.

Notes: Patel vowed to collaborate with Sen. Marsha Blackburn (R-TN) to uncover individuals linked to Jeffrey Epstein’s sex trafficking network.

Source: CNN, Fox News

Eight Hostages Freed in Israel-Hamas Ceasefire as Prisoner Exchange Continues

Hamas-led militants released eight more hostages from Gaza on Thursday, including three Israelis and five Thai nationals, as part of an ongoing ceasefire agreement with Israel. In return, Israel freed 110 Palestinian prisoners. The exchange process was at times chaotic, with Hamas fighters parading hostages through crowds before handing them over to the Red Cross. The ceasefire remains delicate, with tensions high on both sides. Meanwhile, Hamas confirmed the death of Mohammed Deif, its military commander and a key planner of the October 7 attack that triggered the war, an event Israel claimed responsibility for months earlier. The release of hostages was met with emotional celebrations in Israel, while freed Palestinian prisoners were welcomed with large gatherings in Ramallah, where clashes briefly erupted between Israeli forces and Palestinian demonstrators.

Source: Associated Press

Apple Reports Strong Earnings Despite Dip in iPhone Sales

Apple (AAPL) reported strong fiscal first-quarter earnings, surpassing analyst expectations, despite a minor decline in iPhone sales. Total revenue reached a record $124.3 billion, up 4% year-over-year, while net income rose to $36.33 billion ($2.40 per share). Services revenue surged 14% to $26.34 billion, and Mac and iPad sales saw double-digit growth. However, iPhone revenue fell nearly 1% to $69.14 billion, missing projections. Following the earnings report, Apple shares rose 3% in extended trading and have gained over 27% in the past year.

Source: Investopedia

Tesla’s Profit Drop as Competition Heats Up, But Investors Focus on Future Tech

Wednesday, Tesla reported a sharp decline in profit for 2024, with net income falling to $7.1 billion from $15 billion the previous year. Fourth-quarter profit dropped to $2.3 billion from $7.9 billion, though the prior year's results included a one-time $5.9 billion tax benefit. Revenue grew modestly, rising 2% to $25.7 billion in the fourth quarter and 1% to $97.7 billion for the full year. Increased competition from Chinese automakers like BYD and a lack of new Tesla models contributed to market share losses in China, Europe, and the U.S. Tesla’s U.S. electric vehicle market share fell to 44% from 51% a year earlier. Despite this, Tesla’s stock has surged since November, driven by optimism about its self-driving "Cybercab" taxis, which CEO Elon Musk says will launch in 2026. Investors remain confident in Tesla’s disruptive potential, even as analysts caution that the stock is disconnected from the company's financial performance.

Notes: Teslas can now drive themselves from the assembly line to the loading dock, as shown in this video on X.

Source: The New York Times, X