• Daniel Pinto will step down as president and CEO of JPMorgan in June and retire at the end of 2026.
• The JPMorgan veteran has long been CEO Jamie Dimon's stand-in in case of an emergency.
• Jennifer Piepszak has been promoted to COO but doesn't want the CEO role.

Daniel Pinto, long the JPMorgan Chase executive who would stand in for Jamie Dimon as CEO in the event of an emergency, will be stepping down as a top lieutenant.

Pinto, who has been referred to by Dimon as his "hit-by-the-bus" executive, will be stepping down as president and chief operating officer in June and retiring at the end of 2026, the bank said in a press release. His COO replacement, Jennifer Piepszak, currently cochief executive officer of JPMorgan's commercial and investment bank, said she doesn't want the CEO role.

"Jenn has made clear her preference for a senior operating role working closely with Jamie and in support of the top leadership team going forward and does not want to be considered for the CEO position at this time," bank spokesman Joseph Evangelisti said.

"She is deeply committed to the future of the firm and our people and wants to help the company in any way she can," Evangelisti added.

The moves could rekindle speculation and guessing over who will ultimately succeed Dimon, who turns 69 in March. At the bank's investor day last May, Dimon abandoned his usual answer to the succession question to say that his timeline was "not five years anymore." He has led the bank, America's biggest and most influential, since January 2006.

Piepszak will be succeeded at the commercial and investment bank by Doug Petno, currently co-head of global banking, the bank announced on Tuesday. Troy Rohrbaugh, the other coCEO of the commercial and investment bank, had been promoted to the post in a reshuffle a year ago.

Rohrbaugh has been seen as a potential candidate to succeed Dimon, as has Marianne Lake, who remains chief executive of consumer and community banking at JPMorgan.

In other moves announced on Tuesday, John Simmons, head of commercial banking, will succeed Petno. He will team up with Filippo Gori as coheads of global banking.

Pinto, 63, will remain on through the end of 2026 to help with the transition to Piepszak.

In the press release, Dimon called Pinto "a first-class person who I am proud to call a friend, and he has made a truly significant impact on our company for more than 40 years. I'm thrilled he will continue to support and advise us."

• Southwest Airlines is cutting costs.
• It's pausing corporate hiring, summer internships, and a team-building tradition.
• The move comes after a dispute with the activist firm Elliott Investment Management.

Southwest Airlines is pausing corporate hiring to cut costs, a company spokesperson confirmed to Business Insider.

The spokesperson said the airline was "pausing all noncontract internal and external hiring."

It's also pausing summer internships. Southwest said it would honor all internship offers already made but would not make new offers.

CNBC first reported the news, citing a memo from CEO Bob Jordan.

"Every single dollar matters as we continue to fight to return to excellent financial performance," he told staffers in the memo.

Southwest said it was also cutting noncore spending, including its staff rallies.

"We are limiting discretionary costs, including holding on the Southwest Rallies for this year, as we focus on reducing costs," the spokesperson told BI.

Southwest Rallies, where senior leaders lay out plans for the year and celebrate accomplishments with staff, have been a team-building tradition since 1985.

"We'll continue to evaluate hiring needs on an ongoing basis to determine when it makes sense for the business to resume hiring," the spokesperson added.

Southwest continues to face pressure from investors over poor financial performance.

The activist fund Elliott Investment Management has been the most prominent voice; in 2024 it called for the airline to replace its CEO and review its business model.

Last July, Southwest said it would ditch its open-seating model and offer some premium-seating options — a departure from its no-frills offering that inspired the budget-airline model.

In October, Southwest and Elliott reached a deal in which Jordan would remain in the top job while Elliott named six directors to the airline's board.

Southwest's stock is up by 13.7% over the past year but down by 40% over the past five years.

• Both luxury trains and around-the-world vacations have been in high demand.
• Railbookers combined both into a 59-day, 12-country itinerary that includes travel on seven luxury trains.
• Railbookers' CEO said the $124,150-per-person trip had a 4,000-person waitlist.

World cruises have been a hot commodity in the luxury travel industry. But if you're prone to seasickness (or don't have more than 100 PTO days to spend), Railbookers has a $124,150 alternative — by luxury rail.

The train-focused tour company's 59-day around-the-world vacation, departing in early September, includes travel on seven high-end trains to more than 20 cities and 12 countries.

Throughout the four-continent trek, globetrotters would go on a safari in India's Ranthambore National Park, cruise the Ganges River, and receive a private tour of the Louvre Museum — all while traveling in bucket-list trains such as Belmond's Venice Simplon-Orient-Express.

It's Railbookers' second year hosting a global itinerary, and travelers rail-y can't get enough.

Luxury trains have been in high demand over the last few years. This itinerary is no different.

Frank Marini, president and CEO of Railbookers Group, told Business Insider that the trip had a 4,000-person waitlist ahead of its launch. (BI could not verify this.)

"The demand was crazy," Andrew Channell, Railbookers' senior vice president of product and operations, told BI. "It's captured the imagination of a lot of people who said, 'I had no idea there was even a luxury train experience you could do there.'"

Some wanted to book the full journey, while others wanted to reserve various legs. Marini said the trip is expected to sell out.

Luxury train enthusiasts will likely recognize several in the itinerary.

The trip starts in Vancouver, Canada, and concludes in Singapore. Guests would travel on seven luxury trains along the way, including three nights touring Scotland on Belmond's Royal Scotsman, two nights sightseeing Italy on the soon-to-debut La Dolce Vita Orient Express, and three nights around South Africa in the renowned Rovos Rail.

Between sleeper trains, guests would spend 32 nights at premium hotels, including Fairmonts in Canada and The Imperial in New Delhi.

The itinerary also requires six flights, five of which aren't included in the price.

Excursions are, however, bundled into the $124,150-per-person cost. These activities include a private tour of Venice, Italy's Saint Mark's Basilica, a sunrise stop at the Taj Mahal, and the chance to see elephants and rhinos in South Africa's Pilanesberg National Park.

A more than $2,000-per-day vacation may not be the cheapest global travel option.

The individual trains on Railbookers' itineraries aren't known to be ultra-affordable.

Three nights on the Royal Scotsman in September (as the itinerary includes) goes for about $22,400 per person.

Similarly, a one-night Venice Simplon-Orient-Express trip from Verona, Italy, to Paris during the late-summer month starts at about $4,730 per person.

Around-the-world vacations have been a hit in the cruise industry.

Several premium cruise lines, such as Regent Seven Seas, offer annual global voyages.

The luxury cruise line's 132-night 2024 and 150-night 2025 world cruises were sold out in record times: three hours for the former and before bookings formally opened for the latter.

About one-third of the travelers who booked the 2025 itinerary — which started at $87,000 per person — were first-time Regent guests, signaling a growing demand for high-end extended itineraries, a spokesperson told BI.

Railbookers' per-day cost may be more than triple that of Regent's, but it's a great express option if you, like many other wealthy travelers, have several luxury trains on your travel bucket list.

• President Joe Biden signed an executive order that aims to speed up AI infrastructure projects.
• It directs the DOD and DOE to lease land to the private sector for building AI data centers.
• The executive order requires developers to build clean energy sources to power their data centers.

President Joe Biden has signed an executive order to accelerate the scale-up of AI infrastructure in the US to meet the massive energy and supply needs of the "cutting-edge" technology.

Biden said on Tuesday that the executive order will direct the departments of Defense and Energy to lease federal sites to the private sector for building "frontier AI infrastructure at speed and scale."

According to the White House, private sector access to federal sites for building "gigawatt-scale AI data centers" will be determined by "competitive solicitations" for proposals.

Private companies leasing the land would be required to cover the cost of building and operating the sites, including the build-out of clean energy sources for powering data centers.

Biden, who is serving his final days in office, said the US cannot take its lead in AI for granted. The technology is set to have "profound implications for national security and enormous potential to improve Americans' lives if harnessed responsibly," Biden said.

"That is why today, I am signing an historic Executive Order to accelerate the speed at which we build the next generation of AI infrastructure here in America, in a way that enhances economic competitiveness, national security, AI safety, and clean energy," Biden said.

The move from Biden comes at a critical time for the AI sector.

Industry leaders say progress for leading AI companies — which have invested billions of dollars in the technology — depends on an extraordinary build-out of infrastructure.

Expensive data centers and clean energy supplies are needed to train, host, and run new models sustainably, while chip plants that supply vital computing power are being demanded closer to home after years of reliance on chipmaking facilities overseen in the East by the likes of Taiwan's TSMC.

In September, OpenAI boss Sam Altman wrote in a blog that "if we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people."

Biden addressed the need for the US to become self-sufficient, noting in his statement that "we will not let America be out-built when it comes to the technology that will define our future."

The executive order will likely be a boost for private sector companies that have shown increasing interest in AI infrastructure development over the past few years.

In September, Microsoft and BlackRock announced the creation of a $30 billion megafund designed to drive "significant infrastructure investment" and "enhance American competitiveness in AI." The fund's total investment potential is $100 billion, they said.

SoftBank boss Masayoshi Son, whose company is betting big on AI, also committed in December to investing $100 billion in AI infrastructure in the US over the next four years after meeting President-elect Donald Trump.

• Business Insider asked an etiquette expert about the mistakes people make during job interviews.
• Many people forget to research the company and clean up their social-media pages beforehand.
• Arriving on time and sending a thank-you note are easy ways to make a good impression.

For many, job interviews can be a nerve-racking experience. Even with proper preparation, it's common to struggle with this important step in the hiring process.

To help you avoid common mistakes, Business Insider asked business-etiquette expert Jacqueline Whitmore about the things candidates should avoid doing during an interview. Here's what she said.

Not coming prepared for the interview

Whitmore told BI that a simple but common mistake candidates make is arriving to the interview unprepared.

"Most people don't do the proper research about the company. We have so many resources to use, including LinkedIn, websites, and social media," she said. "There's no excuse for you to go into an interview and not know about the company and something about who might be interviewing you."

Whitmore also said it's important to ask the interviewer questions tailored specifically to the company.

Dressing too casually or overlooking small details

According to Whitmore, dressing too casually is another common mistake she sees interviewees make.

"Very rarely do we see someone overdressed for a job interview," she said. "They oftentimes don't put a lot of thought into the details, like the color of their belt or that their shoes are matching their outfit."

Whitmore told BI that even when candidates do wear suits, they may overlook other key details, like forgetting to cut off the tags or not cutting open the vents in the back.

"Why would an employer want to hire someone who doesn't pay attention to the details?" Whitmore said.

Forgetting to put their best foot forward on social media

Before stepping into a job interview, it's important to consider how you're presenting yourself online, especially since Whitmore said the first thing an employer will likely do is Google you.

"They'll look at all your social-media pages. They'll look at what you eat, what you drink, what you wear, who you hang out with, what your lifestyle is — and they make judgments," she told BI.

For that reason, Whitmore suggested adjusting your privacy settings and cleaning up your social-media presence to eliminate anything that could be used against you.

Using filler words, profanity, or slang

When in a job interview, Whitmore told BI that candidates should never use inappropriate language, such as profanity, slang, or terminology the employer might not understand.

She also said to be cautious of filler words and phrases such as "like" or "um" to avoid muddling the conversation.

Whitmore suggested recording yourself before the interview or practicing ahead of time to ensure you're speaking clearly and precisely.

Having your camera off during a virtual interview

One mistake to avoid in virtual interviews is refusing to turn on your camera.

Candidates may choose to keep their cameras off for a number of reasons, such as being worried about making eye contact or feeling uncomfortable with face-to-face interaction. However, Whitmore said keeping the camera on is a good idea so the employer can see your facial expressions.

She added that candidates should be wary of what their background looks like and make sure their room appears tidy.

"If you just have to have a blank wall, that's better than a huge distraction. But I definitely recommend that you put a little thought into your background," she said.

Arriving late to the interview

"Showing up late for an interview is a huge no-no," Whitmore said. "I've always said when you're on time, you're still late. You should show up early."

Arriving early ensures you have enough time to find parking or the meeting room. Whitmore added that doing so also allows you to use the restroom and gain your composure before the interview starts.

Not sending a thank-you note

Sending a thank-you note is an important step in the interview process.

"I go overboard. I send a thank-you email and a thank-you note because this is an opportunity for you to get into the employer's eyes at least twice," Whitmore told BI.

Be sure to follow up within 24 hours of the interview and personalize the note.

"Address the person by name. Tell them why you enjoyed the interview and why you would be a good candidate," Whitmore said.

If you're feeling stuck, she suggested writing out a note and using ChatGPT to polish it.

• An Australian ugg boot company has rebranded to "Since 1974" after a legal battle with a US giant.
• Deckers Outdoor Corporation owns the UGG trademark in more than 130 countries.
• Many Australians say "ugg" is a generic term for sheepskin boots rather than a brand name.

An Australian ugg boot company has changed its brand for foreign customers following a lengthy legal battle with an American rival.

UGG Since 1974 is owned by Australian Leather and was sued by Deckers Outdoor Corporation for its use of "ugg."

Now, after almost 10 years since the legal battle began, it's been forced to rebrand as Since 1974 for customers outside Australia.

The American brand UGG, founded in 1978, was acquired by Deckers Outdoor Corporation in 2005 for $14.6 million. UGG sells the products most US consumers associate with the term "ugg boots."

But in Australia, "ugg" is more a generic term for a style of sheepskin shoe first popularized by surfers since the 1960s than a brand name.

Dozens of companies in Australia and New Zealand have trademarks containing the word "ugg," which is why many in the region take issue with Deckers' ownership of the trademark in more than 130 countries.

Australian Leather brought a lawsuit to remove a trademark for "ugg" boots and keep it as a generic term.

"This is not just about me; it is about Australia taking back 'ugg,'" Eddie Oygur, the owner of Australian Leather, told The New York Times in 2021. "The trademark should never have been given in the first place to the US."

However, the case was rejected by a federal appeals court that year.

Todd Watts, the owner of Since 1974, announced the rebranding on his TikTok account on Monday.

"We've been proudly making Australian boots for over five decades and three generations, and we also own the trademark here in Australia, New Zealand, where the boots originated, where ugg boots originated," Watts said. "But the Decker lawsuit has made it hard to share our story and our boots with everyone else within the world."

Watts added it was "extremely hard to fight a lawsuit against a multibillion-dollar company, especially as a family-owned Australian-made business."

The video has amassed 2.4 million views and generated passionate responses from some customers. Some said they did not know there were so many companies making ugg boots, and others said they would only order from Since 1974 now.

"I've been telling everyone to only buy Ugg since 1974 and NOT US Ugg. ❤️" one viewer wrote.

"I always wondered how Uggs were sold so cheaply and now I know why!" wrote another, echoing other viewers' thoughts that Since 74 sold higher-quality products. "Will buy me a pair of Since 74s from now on!"

Watts said in his video that nothing would change except the brand's name.

"Our roots are still the same, our quality is still the same, the product is still the same, and more importantly, our story is still the same," he said. "We are the original, and we will still be the original no matter what our label says on the back of our boots. It isn't just about boots, it's about resilience."

Deckers is valued at $31 billion after its stock soared 70% in the past 12 months. It also owns brands such as Hoka and Teva.

Deckers Outdoor Corporation and Since 74 did not immediately respond to requests for comment from Business Insider.

• After two years of being married, my Peruvian husband wanted to move back home.
• I love adventures and adapt easily; I wold all my belongings in New Mexico and followed him.
• Now, I live part-time in Peru and part-time in Las Vegas.

Moving to a new country is a life-changing experience, and my decision to relocate to Peru for my Peruvian husband was no exception.

After only two years of marriage living in the US, my husband wanted to move back to Peru and asked me to come with him. I found myself at a crossroads, faced with the choice between maintaining my familiar life in the US and embarking on a new adventure in a culturally rich and vibrant country.

As a retired US citizen with federal government and military service pensions, I thought I would adapt easily. As a seasoned travel writer and photographer, I was used to traveling and embracing cultural learning and diversity worldwide. I was ready for a change.

Ultimately, my love for my husband and desire to embrace a fresh chapter in life led me to choose Peru. I admit that my love for adventure made it easy for me to embrace this chapter.

My husband wasn't happy in the US

One of the most compelling reasons behind my decision to move was my partner's profound discontent with various aspects of life in the United States.

Understanding his struggles and uneasiness in the US made me realize that my decision to join him in Peru could provide the emotional support he needed to feel less alienated and more connected. This shared understanding of each other's different backgrounds and experiences was fundamental to my relocation choice.

I had to embrace a new culture

One of the most profound lessons I learned while moving to Peru is the importance of embracing cultural differences. Peru, a country steeped in rich history and diverse landscapes, offers an array of experiences that range from the lush Amazon rainforest to the majestic Andes mountains. The vibrant cultural tapestry, lively festivals, and fresh cuisine drew me in from the beginning.

Together, we explored ancient sites such as Machu Picchu and Sacred Valley, experiences that deepened my appreciation for Peru's rich history and stunning beauty.

Cultural differences can be both exciting and challenging. However, embracing these differences enriches our lives and strengthens our relationships, creating a bond rooted in mutual respect and understanding.

Some things were hard to adapt for

Looking back, I wish I had conducted more extensive research on both the culture and the practicalities of life in Peru. Although I had a basic understanding of the country, I underestimated the importance of grasping cultural nuances, including climatic differences, communication styles, and social customs.

For example, I wasn't quite prepared to go from dry heat at altitude to the humid tropics at sea level. My four-season wardrobe included extreme weather gear associated with my wildlife photography. Few of my clothes, save for my safari outfits, were suitable for the rainforest.

Moving to another country involves a fair amount of paperwork and legal considerations. From visas to residency permits, navigating the bureaucratic landscape can be overwhelming. Though I did research in advance, everything seemed different once I was in Peru. I can't emphasize enough how important having a team of professionals to help you while in Peru is.

Applying for a "Rentista Visa" was stressful, expensive, and exhausting. I chose this route as my immigration status was not tied to my marriage but rather to my ability to support myself.

Additionally, healthcare is very different in Peru, and I left good insurance with Medicare, Blue Cross Blue Shield, and Tricare behind in the states.

The US healthcare system offers cutting-edge medical technology and specialists, while Peru offers free or low-cost healthcare in theory. In practice and my experience, there is a lack of trained medical professionals, resulting in inadequate care for those who need it most. We live in the jungle gateway city of Iquitos. If you need any specialization, almost always, you must fly to Lima, about 1 ½ hours.

Nowadays, I split my time between Iquitos, Peru and Las Vegas, as I eventually found it necessary to have a US presence for medical reasons. And sometimes, I just need to live in a country where you don't have to put your soiled toilet paper in a trash can because the decrepit sewer system can't process paper waste.

• The casino and entertainment-resort company Mohegan is launching an ad network.
• Mohegan is working with LiveRamp to allow advertisers to target its customers.
• The casino media network is the latest to join the rapidly growing commerce and retail media space.

Meet the latest entrant to the buzzy commerce-media space: the casino and entertainment-resort company Mohegan.

Commerce media, also often referred to as retail media, is growing rapidly as retailers, online marketplaces, financial-services companies, airlines, and more enter the high-margin business of selling advertising on their apps and websites.

The research company EMARKETER estimated last year that US retail media spending would grow by 26%, to $54.85 billion, in 2024.

Mohegan exclusively told Business Insider that it partnered with the data company LiveRamp to launch what the companies described as the "industry's first casino media network."

The network would let advertisers target visitors to its resorts in the US, Canada, and South Korea across kiosks, slot machines, and other digital signage, as well as users of its app and Momentum loyalty program. Mohegan also owns the Connecticut Sun WNBA team.

The companies said this real estate — which includes its Mohegan Sun arena, casinos, hotel rooms, restaurants, and retail stores — equated to 200 million potential ad impressions each month.

While Mohegan already runs some advertising — on its slot machines, for example — the partnership with LiveRamp would help advertisers identify data attributes about its players so they can more precisely target their desired audiences, said Rich Roberts, the president of Mohegan Digital.

Roberts said gamblers tend to have the kind of disposable income that's appealing to high-end restaurants or car dealerships.

"Our customer base has grown significantly from a digital perspective with hundreds of thousands of players who do spend a considerable amount of money on the site," Roberts said.

LiveRamp works with many retail and commerce media networks, such as those operated by Albertsons, Dollar General, and United Airlines.

Initially, Mohegan will pitch its ad network to its existing vendor partners, such as the entertainment companies that stage events at its venues, restaurants, retailers inside its malls, and other local businesses.

Later, LiveRamp aims to extend the data offering so that advertisers can target Mohegan's audiences across other websites, apps, and properties that it doesn't own — known in the industry as off-site media.

"What we have learned across the industry is that you start with your owned and operated inventory, but very quickly you fill out most of the inventory — that's where collaboration comes into play," said Vihan Sharma, LiveRamp's chief revenue officer.

Marc Goldberg, the CEO of the media advisory and consulting service Stages Collective, said Mohegan would need to focus heavily on pitching advertisers on its audience's unique assets.

"The math and margins are attractive to a lot of companies as they see what a retail media network can deliver at scale," Goldberg said. "The problem is that not all businesses have a unique enough audience to attract both the attention and the ad dollars."

• Firefighters are bracing for deadly new winds as the LA fires enter their second week.
• The combined fires spanned almost 39,000 acres as of early Tuesday.
• Firefighters said they'd halted the forward progress of a new, smaller fire in Ventura County.

A new wildfire has broken out in the Los Angeles area, and firefighters are also bracing for strong winds that are forecast to create critical conditions as the fires enter their second week.

Meanwhile, a new estimate from AccuWeather now pegs total economic and damage loss at up to $275 billion.

"These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern US history," AccuWeather Chief Meteorologist Jonathan Porter said. "Hurricane-force winds sent flames ripping through neighborhoods filled with multimillion-dollar homes. The devastation left behind is heartbreaking, and the economic toll is staggering."

Since the fires first broke out on January 7, firefighters have contained several smaller blazes in Los Angeles County, but the three largest — the Palisades, Eaton, and Hurst fires — spanned a combined 38,629 acres as of late Monday, with limited containment.

Meanwhile, a new fire near Auto Center Drive in Ventura County, named the Auto fire, had grown to 56 acres as of early Tuesday and was 0% contained, according to the California Department of Forestry and Fire Protection, or Cal Fire.

Winds pose 'extreme fire danger'

Early Tuesday, the National Weather Service of Los Angeles said it would issue red flag warnings for two zones within hours, saying that dry, windy conditions were due to raise the danger of "extreme fire behavior."

The areas cover two massive swaths of Ventura and LA counties.

It said that these warnings are only used in "the extreme of the extreme fire weather scenarios," adding that "this setup is about as bad as it gets."

Dry, fast winds over open brushland fueled the growth of the Palisades, Eaton, and Hurst fires, which continue to burn.

More than 8,500 firefighters have been marshaled to fight the fires, which have so far killed at least 24 people and destroyed more than 12,000 homes and other buildings.

A new fire

At 56 acres, the Auto fire is much smaller than the other fires.

The Palisades fire covered about 23,713 acres and was 14% contained as of late Monday, with the Eaton fire spanning 14,117 acres and one-third contained, and the smaller 799-acre Hurst fire 97% contained, Cal Fire said.

Early Tuesday, officials at Ventura County Fire Department posted video from the Auto fire, saying that its forward progress had been stopped.

This means that the fire has been stopped in its direction of travel, even if it has not been contained.

Much of the fire is on a golf course, spread over a dry river bed.

"These zones with lower flammability will make containment efforts easier than in other areas," Stefan Doerr, a professor of wildland fire science at the UK's Swansea University, told Business Insider.

• Spain wants to put a 100% tax on homebuyers on foreign buyers.
• Its prime minister said too many were buying Spanish property as investments rather than homes.
• Spain faced some of Europe's largest housing price hikes in 2024.

Spain plans to put a 100% tax on homebuyers from overseas in an effort to tackle the country's housing crisis.

Prime Minister Pedro Sánchez announced the measure in a Monday speech at a housing forum in Madrid.

He said that too many foreign buyers saw Spanish property as investment vehicles and were buying homes for financial gain rather than to live in.

He said he would push for legislation to enact the new tax, effectively doubling property prices for non-EU buyers. The move would require the approval of Spanish lawmakers.

That would include US citizens, as well as people from the UK, where Spain is a popular retirement destination.

According to Spain's Association of Registrars, foreigners bought 24,700 properties in Spain in the third quarter of 2024, accounting for 15% of all real estate purchases in the country.

That figure did not differentiate between EU and non-EU foreign buyers.

Sánchez said the present situation was "absolutely unbearable" and an "emergency."

"Our homes cannot serve as a financial asset or a bank deposit," he said.

Sánchez pointed to recent laws in Canada as precedents — two provinces there charge 20-25% extra to foreign buyers.

Spain's housing market faced some of Europe's largest price hikes last year.

Home prices increased by 8.3% year-on-year in the last quarter of 2024, per Eurostat. The EU average was 3.8%.

According to research from Spain's Caixa Bank, new homes saw the sharpest price increase, with a 10.7% increase year over year in the first half of 2024.

Sánchez said the most significant factor in this rise was people using housing as an investment vehicle — though he also cited factors like population growth, land scarcity, rising construction costs, and restricted access to mortgages.

He said the "unprecedented" 100% tax would narrow a gap between "wealthy landlords" and "poor tenants," pointing to data showing Europe's average house prices rose 48% in the last decade — almost twice as much as disposable income.

"Spain's housing should be for Spanish people to live in, as well as for migrants who come here to work and build a life and contribute to the development and prosperity of our country," he added.

Sánchez didn't offer details on how the tax would work or a timeline for getting a law passed by Spain's legislature.

Spain's government didn't immediately reply to a request for comment from Business Insider.

• UK markets are a mess with yields on government bonds at historic highs and the pound tanking.
• Worries about inflation, public finances, and sticky interest rates are behind the chaos.
• Here's a breakdown of what's going on and what it means for Britain.

UK markets are roiling as wary investors prepare for trouble. Here's a closer look at what's happening — and what it means for the British people and their beleaguered economy.

Gilts and pounds

Yields on UK government bonds, or "gilts," have recently surged, while the pound has sunk against the dollar and lost ground versus the euro.

The benchmark 10-year gilt yield jumped from about 4.2% at the start of December to 4.9% on Monday, its highest level since 2008. Over the same period, the 30-year gilt yield leaped from around 4.7% to almost 5.5% for the first time since 1998.

Meanwhile, the pound weakened to a 14-month low against the dollar on Monday, with £1 worth $1.21 compared to $1.34 as recently as September. Sterling also revisited its November low against the euro with £1 worth 1.19 euros.

Prices and rates

Gilt yields have climbed and the greenback has gained against the pound because of the UK's bleak economic outlook.

Official estimates show the economy failed to grow in the third quarter of 2024. In late November, Goldman Sachs economists forecast a meager 1.2% growth rate for 2025, below the Bank of England's 1.5% estimate.

Annualized inflation spiked to a multi-decade high of more than 11% in October 2022, spurring the BoE to raise its base interest rate to 5.25% by August 2023 — a huge increase from virtually zero going into 2022.

Inflation has cooled significantly from its peak but accelerated to 3.5% last November, far outpacing the BoE's target rate of 2%. The central bank has trimmed its base rate to 4.75%, but signs of stubborn inflation have cut the chances of a flurry of further cuts this year.

President-elect Donald Trump's plans to impose tariffs and cut taxes once he enters office have also stoked global inflation fears, eroding hopes for rapid rate cuts in the UK and other countries.

Steeper interest rates encourage saving over spending and investing and make borrowing more expensive, which can ease upward pressure on prices but can also temper growth.

Public purse pressure

Investors are worried the UK government is overspending. It borrowed about £113 billion in the eight months through November 2024, raising the national debt to about £2.8 trillion — more than double the level before the financial crisis of 2008.

Rachel Reeves, the Chancellor (finance minister), has signaled she may rein in spending by making greater cuts to public services — but tightening the purse strings threatens to further weaken growth.

Concerns about persistent inflation, the public finances, and stagnation have hammered market sentiment toward the UK economy. Investors now demand a higher return to hold government debt, which has pushed up gilt yields.

Flight to safety

The prospect of higher rates for longer should benefit the pound because the currency's holders can expect to earn more interest. But that effect is being outweighed by the dollar's strength, underpinned by similar concerns in the US of stubborn inflation, sticky rates, and rising Treasury yields. Investors are flocking to the greenback as a haven asset, heaping pressure on the pound.

"Bond market turbulence, fears over unsustainable debt, and a lack of investor confidence in Britain's long-term prospects are all combining to pull sterling lower," Nigel Green, CEO of deVere Group, said in a note.

"The combination of a robust dollar and a weakening pound is accelerating the capital flight from sterling. Investors are turning to safer currencies and assets, as the UK appears increasingly fragile in this turbulent environment."

Flashes of the past

The upswing in gilt yields and the pound's retreat against the dollar evoke the crisis sparked by then-Prime Minister Liz Truss and Chancellor Kwasi Kwarteng's mini-budget in September 2022.

The tax cut plans spooked investors with the prospect of reckless government borrowing, resurgent inflation, and interest rates staying higher for longer.

With some pension funds on the brink of collapse, the BoE stepped in to shore up markets and calm the situation. The chaos dissipated but Truss resigned a few weeks later.

This time, government officials have indicated that gilt markets are functioning normally and emergency intervention isn't warranted.

Prime Minister Keir Starmer said on Monday that the government would continue to comply with its fiscal rules and reiterated his confidence in Reeves.

Budget pressure

The UK government funds itself partly by issuing gilts, so higher yields mean it has to pay more interest to bondholders. That raises its borrowing costs and eats into its tax revenue, leaving it with less money to spend on public services.

"The Chancellor already had limited wiggle room and the risk is that she may have to either cut spending or raise taxes," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said in an emailed note.

Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, made a similar point in an emailed note: "Rachel Reeves is losing her fiscal headroom and her manoeuvre margin with every basis point rise in borrowing costs, and that muddies the UK's growth outlook."

Feeling the squeeze

Higher gilt yields mean steeper interest payments for households and businesses too, tempering the economy's growth prospects further.

Moreover, a weaker pound makes imports more expensive. That could fuel inflation, curb growth, pinch businesses that rely on foreign goods, and turn the screw on households already mired in a cost-of-living crisis.

Many consumers are struggling after sharp rises in the cost of food, fuel, housing, and other essentials since the pandemic — especially when they're paying more for their mortgages, credit cards, and other debts due to rate rises.

"Inflationary pressures remain persistent and elevated, while at the same time the growth backdrop, exacerbated by the recent budget, is deteriorating and straining government finances further," Mark Dowding, BlueBay chief investment officer at RBC Global Asset Management, said in an emailed note.

"Moreover, households will face rises in energy costs, water bills and council tax in April, adding to the squeeze in consumer budgets."

Savills recently estimated that nearly 700,000 UK homeowners face higher mortgage costs when their fixed-rate deals ended this year. Many hoped the BoE would steadily cut its base rate and mortgage rates would decline.

"But now, the newly elected Labour government, which promised to rescue the country, improve finances, and boost growth, faces its own reckoning," Ozkardeskaya wrote.

"To deliver on its ambitions, it needs market support — a resource proving elusive. Without it, borrowing costs will spiral higher, forcing tougher choices: more taxes, less spending, and weaker growth. And none of that bodes well for the pound."

• Paul Hokemeyer has been a therapist to the ultra-rich for the last decade.
• There are certain issues his clients experience because of their wealth, which he shared with Business Insider.
• These include feeling valued only for their money and internalizing negative stereotypes.

A therapist to the ultra-rich shared what his clients talk about in sessions, from the wealthy father troubled by his children's entitlement to a man who feared leaving his home in case people asked him for money.

Paul Hokemeyer, a licensed marriage and family therapist who for 10 years has worked with clients with a net worth of at least $30 million, told Business Insider that his typical client is middle-aged and with inherited wealth. Only a handful of his clients have earned their own money because, in his experience, such people tend to feel more in control of their lives.

He previously told BI that ultra-rich people "suffer from the same mental health and relational issues as the rest of humanity."

But there are certain problems his wealthy clients talk about in therapy that are specific to their ultra-high net worth.

Feeling objectified

"The most common comments I hear from my clients are along the lines of 'people aren't interested in me, they are only interested in my money,' or 'my children are just waiting for me to die so they can get their hands on my money,'" Hokemeyer said.

"People of wealth are expected to provide. When they say no or create boundaries around what they are willing to give, they are perceived as villains," he said. The constant expectations on ultra-wealthy people can be exhausting and lead to painful, transactional relationships.

Hokemeyer gave the example of a father in his 80s whose adult children had spent their €40 million inheritances and expected him to continue to bankroll their extravagant lifestyles by taking money from their own children's inheritances. He started drinking heavily to manage the stress and the guilt he felt about his children's entitlement.

Hokemeyer helps clients address the sadness and disappointment they feel toward their relationships and create boundaries with people who rely on their financial support.

Feeling isolated

"While providing material comfort, wealth and power elevates people into a very isolated and too frequently self-destructive sphere of existence," Hokemeyer said.

There are a tiny number of ultra-rich people in the world — about 627,000, BI previously reported — and they can feel excluded from the rest of society. Plus, dealing with constant demands from others can lead them to retreat from normal life, he said.

One of his clients with a huge fortune from manufacturing stopped going out because he felt constantly accosted by everyone, Hokemeyer said — even in his apartment building's elevators, where his neighbors kept asking for charity donations.

"Over time, he became severely depressed and morbidly obese. He came to see me after suffering a near-fatal heart attack and realizing he needed to make some significant changes to reconnect with other human beings," he said.

Substance abuse

Hokemeyer finds that people of wealth often suffer with substance abuse problems, because they have easy access to intoxicants and because they can use their resources to avoid negative consequences.

This means that clients tend to come to Hokemeyer for help when those consequences have become "dire," he said — when their health is severely compromised, they've lost a lot of money, or their spouse has left them, for example.

The path out of substance abuse can be tricky for these individuals too, because, being used to being in control, they often resist treatment.

Feeling vilified

From teachings in the New Testament and Buddhist beliefs to the popular phrase "eat the rich," Hokemeyer said that we are surrounded by images of wealth as a form of moral decay and wealthy people as selfish and corrupt.

Many of his patients internalize these negative stereotypes and feel they are bad people, he said. So he works with them to address any guilt or shame they feel about their net-worth and to develop personalized ideas of what is healthy, within the context of their wealth and social status.

• SpaceX rockets coming back to Earth are disrupting flights over the southern Indian Ocean
• Qantas said flights have been delayed up to six hours, while South African Airways is also impacted.
• Australia's flag carrier wants Elon Musk's company to have more precise plans.

A number of flights over the Indian Ocean have been forced to be delayed due to SpaceX rockets coming back to Earth.

Qantas, the Australian flag carrier, is asking Elon Musk's company to be more precise with the areas and timings for such events.

Some of its flights between Sydney and Johannesburg have faced delays of up to six hours, Qantas said.

The Sydney to Johannesburg route passes over the southern Indian Ocean, where the upper stages of several SpaceX rockets have recently splashed down.

"Over the past few weeks we've had to delay several flights between Johannesburg and Sydney due to advice received from the US Government regarding the re-entry of SpaceX rockets over an extensive area of the Southern Indian Ocean," Ben Holland, the head of Qantas' operations center, said in a statement shared with Business Insider.

The Guardian reported that South African Airways has also been impacted by SpaceX activity. South African did not immediately respond to a request for comment from Business Insider.

Disposable rockets are causing issues

While the booster, or first stage, of a Falcon 9 rocket is reusable, the upper stage is disposed of in the ocean.

There have been six Falcon 9 launches so far this year, while in 2024, there were over 100 launches.

Qantas says the timings and location of the re-entries can change last minute, adding to the problem.

"While we try to make any changes to our schedule in advance, the timing of recent launches have moved around at late notice which has meant we've had to delay some flights just prior to departure," Qantas' Ben Holland added.

"Our teams notify customers of changes to their flight as soon as we know it will be impacted."

"Customers generally understand this is outside of airlines' control and that we can't fly in the area when the rocket re-entry is taking place.

Holland added that the airline is in contact with SpaceX in an attempt to find a solution that will minimize disruption for passengers.

SpaceX did not immediately respond to a request for comment.

• I grew up in the Midwest and have traveled to all 50 states.
• When in the region, I love visiting Bayfield, Wisconsin, and Starved Rock State Park in Illinois.
• I enjoy spending time in downtown Chicago when I'm in the mood for a city adventure.

As an experienced solo traveler who has visited all 50 states and every major US national park, I'm often asked for recommendations on what to do in popular vacation spots across the country.

However, as someone who grew up in Illinois, I love highlighting and recommending some of the impressive spots the Midwest has to offer.

From the dramatic beauty of the Great Lakes to the badlands in the Dakotas, there is a surprising amount of diversity and beauty within what some may consider to be flat land.

Here are some of my favorite things to do in the Midwest.

Visit Bayfield, Wisconsin, for hiking and relaxation.

My favorite thing to do in the Midwest is visit Bayfield, Wisconsin, which is often considered the smallest city in the state.

Located on Lake Superior, Bayfield has a quaint downtown for shopping, plenty of local restaurants, and fantastic outdoor recreation opportunities.

The city is also the gateway to Apostle Islands National Seashore, which offers lots of opportunities for hiking and sea kayaking. I recommend taking a ferry to Madeline Island and Big Bay State Park.

Spend a weekend in downtown Chicago.

Despite being a major city, Chicago doesn't always get enough credit. However, it's one of my favorite spots for a weekend getaway.

When visiting The Windy City, I always make sure to visit Millennium Park — where the iconic Cloud Gate (aka "The Bean") is located — before exploring the nearby Art Institute of Chicago.

I always recommend attending an improv-comedy show at The Second City, which has been a launchpad for "Saturday Night Live" cast members like Tina Fey, Rachel Dratch, and John Belushi.

Whether you're into deep-dish pizza or love exploring neighborhoods like Wicker Park and Hyde Park, Chicago has something for everyone.

Drive North Shore Scenic Drive from Duluth to Grand Portage in Minnesota.

In my opinion, Minnesota is one of the most beautiful states in the country. It's also home to one of my favorite drives — the North Shore Scenic Drive.

The 154-mile drive along Highway 61 starts in Duluth and makes its way along the rugged Lake Superior shoreline, offering breathtaking views, opportunities to stop in charming small towns, and access to some of Minnesota's most iconic outdoor destinations.

My favorite spots to stop are Gooseberry Falls State Park, Split Rock Lighthouse, and Tettegouche State Park.

Hike at Starved Rock State Park in Illinois.

Although Illinois isn't necessarily known for its canyons, waterfalls, or hiking trails, there are many spots to find all three — my favorite being Starved Rock State Park.

The popular park is just around 100 miles southwest of Chicago, making for an easy day trip or weekend getaway from the city.

With 13 miles of trails, 18 canyons, and beautiful seasonal waterfalls, visiting Starved Rock feels like stepping into a different state.

Visit Cahokia Mounds, a UNESCO World Heritage site in Illinois.

Cahokia Mounds, a UNESCO World Heritage site just across the Mississippi River from St. Louis, is an essential stop for anyone fascinated by history, archaeology, or Indigenous culture.

This Illinois state-historic site preserves the remnants of the largest pre-Columbian site north of Mexico. At its height around AD 1100, Cahokia was a thriving metropolis and is believed to have had a population of nearly 20,000 people.

A visit isn't complete without climbing Monks Mound, the largest prehistoric earthen structure in North America, built by the Indigenous people who once lived here. Make it to the top for sweeping views of the surrounding landscape, dotted with 70 preserved mounds.

Hike at Badlands National Park in South Dakota.

South Dakota probably isn't the first state that comes to mind when considering the Midwest. However, this sparsely populated state on the region's westernmost edge is packed with natural beauty.

One of my favorite stops in the state is Badlands National Park, a rugged and awe-inspiring landscape with dramatic scenery of eroded buttes, pinnacles, spires, sprawling grasslands, abundant wildlife, and fossils.

Take a scenic drive or hike through the otherworldly landscape that feels far away from the Midwest.

• Donald Trump is set to be sworn in as the next president of the United States on January 20.
• Carrie Underwood and Village People have confirmed they will be performing at the event.
• Toby Keith and 3 Doors Down played at Trump's first inauguration in 2017.

President-elect Donald Trump is set to be inaugurated on January 20, and his team has enlisted the help of some celebrity acts for the ceremony and related events.

The events are slated to run for four days, starting on January 18. The inauguration has drawn donations from companies including Google, Amazon, and Meta.

Here's a look at the celebrities who have confirmed they will be performing, as well as those who played during his first inauguration in 2017.

A representative for the inaugural committee did not immediately respond to a request for comment from BI.

Carrie Underwood

"I love our country and am honored to have been asked to sing at the Inauguration and to be a small part of this historic event," Carrie Underwood said in a statement to Business Insider on Tuesday. "I am humbled to answer the call at a time when we must all come together in the spirit of unity and looking to the future."

Underwood is set to perform "America the Beautiful" at the inauguration ceremony, a Presidential Inaugural Committee spokesperson told USA Today.

The "American Idol" alum has largely tried to stay out of politics throughout her career.

"I feel like more people try to pin me places politically," Underwood told The Guardian in 2019. "I try to stay far out of politics if possible, at least in public, because nobody wins. It's crazy. Everybody tries to sum everything up and put a bow on it, like it's black and white. And it's not like that."

Village People

On Monday, Village People, the '70s disco band known for hits like "Y.M.C.A." and "Macho Man," announced on its official Facebook page that it would be performing at "various events as part of the 2025 Inauguration of Donald J. Trump."

"We know this wont make some of you happy to hear however we believe that music is to be performed without regard to politics," the group's post read. "Our song Y.M.C.A. is a global anthem that hopefully helps bring the country together after a tumultuous and divided campaign where our preferred candidate lost."

The official website for the Inaugural-Eve Ball, which is set to take place on January 19, features a photo of the group under a banner that says "Confirmed Performances."

The band's decision to perform at the inauguration events is a reversal of its stance from two years ago.

In 2023, the band's manager sent a cease-and-desist letter to Trump's lawyer, requesting that Trump stop using Village People's music and likeness at his events, following an "unauthorized" performance by a cover band at Mar-a-Lago.

"The performance has, and continues to cause, public confusion as to why Village People would even engage in such a performance," Karen Willis, the band's manager and wife of lead singer Victor Willis, wrote in the letter. "We did not."

A representative for Village People did not immediately respond to a request for comment sent by BI outside regular hours.

Celebrities who performed at Trump's 2017 inauguration

Some A-listers have declined to perform at previous Trump events. Elton John and David Foster were among the celebrities who publicly declined to perform at Trump's inauguration in 2017.

The "Make America Great Again! Welcome Celebration" concert in 2017, held a day before Trump was sworn in as the 45th president, included performances by country star Toby Keith and rock band 3 Doors Down, among others.

Artists, including Neil Young and Rihanna, have also spoken out against their music being played at Trump events.

• NATO Secretary General Mark Rutte said members have to boost spending.
• If not Europeans should "get out your Russian language courses or go to New Zealand," he said.
• The security alliance faces an intensified threat from Russia.

NATO Secretary General Mark Rutte told members of the security alliance to boost defense spending or prepare to learn Russian.

Speaking at the European Parliament in Strasbourg, France, Monday Rutte told European lawmakers that they have to urgently rethink spending priorities to ensure their security.

It was the latest in a string of calls for Europe to rewire their economies to prioritize defense more heavily, as Russia continues its invasion of Ukraine and President-elect Donald Trump maintains his skepticism of the US underwriting European security.

The line was to illustrate what NATO sees as the intensifying threat from Russia and President Vladimir Putin.

"We are safe now, but not in four or five years," he said.

The alternative to higher spending, he said, was to "get out your Russian language courses or go to New Zealand."

"I'm deeply concerned about the security situation in Europe," he said. "We are not at war, but we are not at peace either ... That means we need to invest more in defense and produce more capabilities. This cannot wait. We need to boost the resilience of our societies and critical infrastructure."

European military and security officials have warned that Russia could attack a NATO country next if it defeats Ukraine.

In the wake of the Russian invasion of Ukraine, most members of the security alliance have boosted their military budgets, with 23 of its 32 members now spending 2% of GDP on defense.

The alliance has a 2% GDP defense spending target for members, but for years many lagged well behind this.

President-elect Donald Trump has long berated NATO members for not spending more on their own security — and has called on spending to be raised even further, to 5% of GDP.

The US spends around 3.38% of GDP on defense, and European countries in eastern Europe closer to Russia spend a similar percentage, with Estonia spending 3.43% and Latvia 3.15%.

Poland, which has one of Europe's most powerful militaries and spends 4.1% of GDP on defense, welcomed Trump's 5% spending proposal. Leaders in other countries, including Germany's Chancellor Olaf Scholz, say the target is too high.

Rutte said that, come what may, nations would have to start spending more, with a 3.7% target likely.

During Trump's first term, when he threatened to withdraw from NATO, some European leaders, including France's Emmanuel Macron, said that Europe had to become more self-sufficient in ensuring its security.

NATO members have boosted spending, but the US remains by far the biggest military power of the alliance. Rutte said Monday that Europe would continue to depend on the US for its security.

• Meghan Markle and Prince Harry urged Meta to reverse its fact-checking policy rollback in the US.
• The Duke and Duchess of Sussex said Meta's latest move should "deeply concern us all."
• The couple said that Mark Zuckerberg's company was allowed "ego or profit" to guide its decision-making.

Prince Harry and Meghan Markle criticized Meta's decision to cut third-party fact-checking in the US and said the move would allow the spread of "hate, lies, and division" on its platforms.

The Duke and Duchess of Sussex, who have a record of speaking out about misinformation on social media and online bullying, published an open letter on Monday urging Mark Zuckerberg's company to reverse the policy change announced last week.

"It doesn't matter whether your views are left, right or somewhere in between," the Sussexes wrote. "The latest news from Meta about changes to their policies directly undermines free speech. This should deeply concern us all."

Meta and representatives for the Duke and Duchess of Sussex did not immediately respond to requests for comment from Business Insider.

The couple took aim at Meta's "talking points" about replacing its third-party fact-checking program with community notes — similar to X's approach. They also voiced disapproval of Meta's decision to roll back DEI initiatives.

Meta said loosening its fact-checking program would promote free speech by "lifting restrictions" on topics that are part of "mainstream discourse" and take a "more personalized approach to political content." The Sussexes argued it would ultimately "silence speech and expression, not foster it."

"This latest move from Meta is an example of a social media company— fully aware of their power to shape public discourse — disregarding any responsibility to ensure that power is not abused and instead allowing either ego or profit, likely both, to guide decisions that affect billions," the Sussexes said.

Meta's policy changes may increase the likelihood that users encounter controversial content and debates on Instagram, Facebook, and Threads around topics such as "immigration, gender identity, and gender," Business Insider previously reported.

Harry and Meghan also took aim at the apparent link between the company's policy change and President-elect Donald Trump's reelection, which said Meta had "come a long way" in a press conference following the announcement.

The same day, Meta CMO Alex Schultz told BI that Trump's victory directly influenced the decision, saying that "elections have consequences."

Meghan returned to Instagram earlier this month after an absence that began in 2020. The couple have previously spoken about how they met on the platform.

Her new Netflix documentary titled "With Love, Meghan" will now be released on March 4 rather than January 15 because of the "ongoing devastation" of the Los Angeles wildfires.

• An Israel-Hamas cease-fire and hostage deal is looking increasingly likely.
• US, Israeli, and Palestinian officials have expressed optimism that an agreement would be reached.
• White House officials say it could come before President Joe Biden leaves office on January 20.

An Israel-Hamas cease-fire and hostage deal is looking increasingly likely in the final days of President Joe Biden's administration, with officials from all sides expressing optimism that an agreement could soon be reached, potentially in the coming days.

The devasting conflict has been raging for 15 months, after Hamas-led militants launched a surprise terror attack on Israel on October 7, 2023, killing about 1,200 people and taking 251 people hostage.

Hamas and its allies still hold 94 of the hostages, including the remains of at least 34 who have died, according to Israel's government.

Meanwhile, Israel's military offensive in Gaza, which has left large parts of the Strip in ruin, has killed more than 46,000 people, according to Gaza's Hamas-run health ministry.

However, there's growing hope that the violence may soon come to an end, and that some hostages may be freed.

On Monday, Biden said cease-fire talks are "on the brink" of coming into fruition.

In the past, officials have expressed optimism about the prospect of a deal, only for negotiations to flounder.

"I have learned in many years of public service to never, never, never, ever give up," Biden said, adding that the US is "pressing hard" to close the deal.

During the speech in Washington, DC, Biden told reporters that the proposed deal would free the hostages, halt the fighting, provide security to Israel, and allow for the increase of humanitarian aid to Palestinians in Gaza.

On Monday, US Secretary of State Antony Blinken told MSNBC that a deal is "closer than we've ever been."

White House national security advisor Jake Sullivan also offered glimmers of hope on Monday, saying in an interview with Nexstar Washington that "we are so close to a cease-fire and hostage deal."

Sullivan called it a "distinct possibility" that the US would be able to get it across the line this week, "before President Biden leaves office."

President-elect Donald Trump will be inaugurated on January 20, 2025.

On Monday, Trump told Newsmax that he understands "there's been a handshake and they're getting it finished and maybe by the end of the week."

Basem Naim, a senior Hamas official, told The Washington Post on Monday that "significant progress" had been made in negotiations and that the mediators had a final draft agreement.

"We are so close," he told the outlet.

Qadura Fares, who leads the Palestinian Ministry of Detainees and Ex-Detainees Affairs, also suggested there was some movement in negotiations.

He told CNN on Monday that he was traveling to Qatar to advise negotiators on the list of hostages to be freed "in the event the deal materializes."

There's also optimism in Israel, with several local media outlets reporting that a deal was nearing completion.

Israeli Foreign Minister Gideon Saar said during a news conference on Monday that Israel had been working with both the outgoing Biden administration and incoming Trump administration to hopefully secure a deal "within a short time."

He said, "There is progress, I said it looks much better than previously."

Meanwhile, a group representing the families of the hostages said in a news release that representatives will meet with Israeli Prime Minister Benjamin Netanyahu on Tuesday.

"The families are hopeful that any deal, even a limited one, represents an important first step toward a comprehensive agreement," the Hostages and Missing Families Forum said.

It added, "They are grateful for every hostage who returns home and see each release as progress toward their ultimate goal: the return of all hostages — the living for rehabilitation and the deceased for proper burial."

• GitHub is Microsoft's code-hosting platform that lets users collaborate on open-source projects.
• GitHub has a free version, and several tiers of paid subscription versions.
• GitHub is extremely popular among software developers, and is used by most Fortune 100 companies.

If you're interested in software or software development, you've likely heard of GitHub.

For a coder, GitHub is akin to what Pinterest offers to an interior designer — a place where a person goes not just to upload content, but also for creative inspiration and collaboration.

The company bills itself as the world's leading software development platform, and says over 100 million developers use GitHub, as well as 90% of Fortune 100 companies.

GitHub is owned by Microsoft. The company was founded in 2007, but Microsoft acquired it in 2018 for $7.5 billion in stock, and Microsoft's CEO said at the time that the deal would "strengthen our commitment to developer freedom, openness and innovation."

GitHub has also recently integrated Copilot, Microsoft's AI tool. CEO Satya Nadella said in a July 2024 Microsoft earnings call that Copilot is "by far the most widely adopted AI-powered developer tool," and is responsible for 40% of GitHub's revenue growth.

GitHub's annual revenue run rate is now $2 billion, thanks to Copilot and GitHub's premium subscriptions.

Here's what you need to know about GitHub and how it relates to coding.

What is GitHub?

GitHub is, fundamentally, a hosting platform for coders. The cloud-based service allows coders to effectively manage and maintain open-source programming projects while collaborating with others.

To understand how GitHub works, you have to have an understanding of "Git" and the idea of "version control" in relation to Git.

Git, started by Linux creator Linus Torvalds, is an open-source version control system that tracks changes in files over time.

Version control is an important system when it comes to coding. It enables coders to be nimble with programming, and allows for apps to constantly have new version releases, expansion to other platforms, and bug fixes, among other tracked changes.

Version control systems like Git help maintain the integrity and security of ever-evolving code by safeguarding modifications, and those revisions are then hosted by GitHub, or an alternative "repository" hosting service — although GitHub is the most popular among developers.

This allows developers to easily collaborate, allowing them to download a new version of the software, make changes, and upload the newest revision. Every developer can see these new changes, download them, and contribute.

There are disadvantages to Github, too. GitHub users have been vocal in the past about complaints with the platform; some say GitHub is expensive, buggy, and insufficient for large teams.

Is GitHub free to use?

GitHub has a free version with limited bandwidth and storage, and two paid versions. The Team subscription is geared towards individuals and organizations seeking "advanced collaboration" options, and costs $4 per user per month.

The Enterprise subscription costs $21 per user per month, and has the same advantages as Team, plus a host of other advanced features, greater security, and premium support services.

How to start using Github

If you're looking for a resource to maintain and share code, you can easily install Git and sign up for GitHub for free. Here's how to get started:

1. First, you'll need to install the Git version control system, which you can download for free. Follow the directions specific to the device you're using.

2. Next, you can create your GitHub account at GitHub.com. A free account will have some limitations, but gives you access to both public and private repositories.

3. With your free account, you can get started right away and create a repository by clicking Create a repository on the GitHub homepage to start a new project.

From the same page, you can also access learning materials like a "What is GitHub?" video or an exercise in GitHub flow if you need more expertise before getting started with creating a repository.

• My daughter told me she was dropping out of high school at 16.
• I didn't argue and gave her the space to take a courageous leap into early adulthood, instead.
• "My high school's full of drugs and drinking. I don't want to get into trouble," she told me.

A week before the start of her high school junior year, my 16-year-old daughter walked into the kitchen with a smile of pure delight. "I emailed my principal," she reported. "I said it gave me great pleasure to inform her that I'd no longer be attending her school."

I attempted to maintain a neutral expression like the one I'd affected when — for show and tell in a middle-school science class — she'd brought a leech from her tank in the corner of our living room where she kept three of them along with several bullfrog tadpoles and a crayfish.

"So what will you do about high school this year?" I asked. She'd grown more and more miserable in high school, bewildered by constant social drama and classes full of busy work.

She immediately answered: "I'm going to community college to study marine biology."

"Good plan," I said, but my brain whirled with questions.

My daughter didn't want to get in trouble at school

My daughter has sprung similar revelations on me her entire life.

As a person with ADD, she's struggled with traditional classrooms since kindergarten, finding it difficult to concentrate in a room packed with peers unless she's thoroughly engaged with a subject.

Over her 12-year education, she tried public schools, charter schools, homeschooling, and private schools. I learned to be flexible and curious rather than rigid and angry. Dropping out of high school completely, though, was a new development.

Over my shoulder at the kitchen table, she said in her defense. "My high school's full of drugs and drinking. I don't want to get into trouble."

I worried about a different kind of trouble.

"Is this really legal?" I kept asking her College Now advisor — as if a Truant Officer might nab my teen en route to her beloved marine biology class and haul her back to high school.

"It's legal," said the advisor, who I had on speed dial. She just needs to enroll in the right transfer courses and take her GED exam, the equivalent of a high school diploma, the advisor said.

I brushed up on my research and discovered my daughter's decision could be for the best.

"Community college can be a great way to explore interests inexpensively before committing to a major," I read in the book "The Complete Guide to College Transfer: Find Your Ideal School, Maximize Your Credits, and Earn Your Degree."

The book tells students of any age to consider working toward an associate degree while enrolled at community college. "Not only is it a valuable credential on a resume, but it can also provide transfer benefits with partner universities."

So, my daughter and I worked with her advisor to devise a two-year plan for earning her Associate's degree at the community college and taking her GED.

However, as a young higher-education student, my teen was slightly out of her element. Initially, I helped her find her classes, taught her how to email her professors, and deconstructed her syllabi with her to figure out homework assignments and what textbooks to order. All of this was only possible thanks to my flexible work schedule.

Dropping out of high school was the right move

I admit to some sadness. I adored my high school, and I'm sorry my daughter didn't have the same positive experience.

However, different brains crave different pathways to education.

Despite my trepidation, I gave my daughter the space to take a courageous leap into early adulthood.

She passed her GED exams and is transferring to the University of Oregon next year as a junior.

These days, she wakes up at 9 a.m. and heads for classes she finds meaningful and relevant.

She hangs out with her classmates at lunchtime, comes home mid-afternoon to study, and then goes to the dance studio.

Just 18 and in her second year of college, she's become an independent and joyful young woman.