MORNING BUSINESS REPORT: TikTok buyer emerges, Trump eyes Panama Canal, and smart tips for year-end bonuses
Today’s top stories include a TikTok purchase proposal, Trump’s plan for the Panama Canal, and strategies for spending your year-end bonus.
TikTok Faces U.S. Ban, Billionaire Offers to Buy
As TikTok faces a potential ban over national security concerns, billionaire Frank McCourt has expressed interest in purchasing the platform. McCourt has pledged to overhaul the app while TikTok seeks a Supreme Court ruling on freedom of speech issues.
Stellantis Rehires 1,100 Workers
Automaker Stellantis has reversed a previous decision to lay off 1,100 employees at an Ohio Jeep plant. Workers will be retrained and return to work in January, following the abrupt resignation of the company’s CEO three weeks ago amid declining sales.
Airline Stocks Soar, Cruise Industry Rebounds
Airline stocks, including United, Allegiant, and America, reached record market highs this year after years of pandemic-related instability. Meanwhile, the cruise industry is booming, with Virgin Voyages introducing an unlimited cruise pass for $120,000. The pass, valid for a year, can even be purchased using Bitcoin.
Trump Eyes Reclaiming the Panama Canal
President-elect Donald Trump has announced plans to consider reclaiming the Panama Canal, citing high toll costs for U.S. trade ships. The canal, which Panama took control of after a treaty signed by former President Carter, reportedly costs U.S. ships $16 billion annually in tolls.
Smart Ways to Spend Your Year-End Bonus
If you’re expecting a year-end bonus, consider these financial strategies:
- Pay off high-interest debt to save on long-term costs.
- Open a high-interest savings account, with rates still hovering around 4%.
- Boost your emergency fund for unexpected expenses.
With the average year-end bonus around $2,500, these tips can help maximize its impact.
That’s your morning report for today.
