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Police: Dozens of people are feared dead following explosion at Swiss ski resort bar
Swiss police said that dozens of people were feared to be 'killed' and 100 others injured after an explosion tore into a packed bar during a party on New Year’s Eve in the upscale resort of Crans-Montana, located in southwest Switzerland. The police had previously said that many people were being treated for injuries. A police spokesperson confirmed that more than 100 people were in the bar when the explosion occurred. Fire broke out in the early hours of the morning in Crans-Montana at "Le Constellation", where police, fire brigade, and rescue services had been deployed to help victims. Police said in a statement that the area was completely?closed and a no fly zone had been declared over Crans-Montana. They added that the cause of the explosion remained unknown.
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Israel: Forces open fire on West Bank Stone-Throwers, One Dead
Israeli military claimed that its forces shot and killed a Palestinian in the early hours of Thursday morning as they opened fire on people throwing stones at soldiers. The military statement added that two other people were also hit by gunfire on a major road near the village of Luban al-Sharqiya, in Nablus. The statement described the individuals as militants and said that the stone-throwing attack was part of a planned ambush. Palestinian authorities in the West Bank reported that a 26-year old man named Khattab Al-Sarhan had been killed, and another victim was also injured. The official news agency of the Palestinian Authority, WAFA, reported that Israeli forces closed the main entry to Luban al-Sharqiya village in Nablus and blocked many secondary roads. The U.N. reported that more than 1,000 Palestinians were killed between October 2023 - 'October 2025 in the West Bank, mostly as a result of 'operations carried out by security forces, and in some cases by settler violence. In the same time period, 57 Israelis died in Palestinian attacks. (Reporting and writing by Ali Sawafta; Editing by Andrew Heavens).
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Berkshire, which fell on Buffett's final day as CEO and gained 6,100,000.0% over 60 years,
The price of Berkshire Hathaway Class A shares fell by $600, or 0.1%, to $754,800 on Wednesday. Greg Abel will take over as CEO on Thursday. On Wednesday, the price of Berkshire class A shares fell by $600 or 0.1% to $754,800, and that of Class B shares dropped $1.06 or 0.2% to $502.65 Standard & Poor’s 500 dropped 0.7%. Berkshire investors who have owned the company since 1965 when Buffett became CEO, saw a return that was 6,100,000.00%. This is far higher than the S&P's 46,000%. In 2025, the index was outperforming, and it has been doing so for over a decade. Berkshire, however, never had a down year as Buffett tried to acquire his $1.08 trillion company. Berkshire's subsidiaries include the insurer 'Geico', the BNSF railway, dozens manufacturing and energy companies, and retail brands like Brooks, Dairy Queen and Fruit 'of the Loom. The company ended September with cash and?equivalents of $381.7 billion. Abel, age 63, was hired by Berkshire in 2000, when the company acquired MidAmerican Energy (now known as Berkshire Hathaway Energy). Since 2018, he has served as vice chairman of Berkshire, managing the non-insurance business. Buffett will continue to be chairman. He plans to go every day to the Berkshire office in Omaha Nebraska, which is about 2 miles (3 km) from his home. Ajit Jain, vice chairman, will oversee the insurance business of Berkshire, while Abel continues to monitor the BNSF manufacturing, energy and manufacturing businesses. Adam Johnson, the chief executive officer of NetJets' luxury plane unit, will oversee Berkshire’s consumer products, services and retail businesses. Abel was doing this. Berkshire Investments has not announced who will be in charge of its equity portfolio. Apple and American Express were among the 283.2 billion dollars of stocks that Berkshire held as of September 30. Todd Combs, Ted Weschler and other people who worked on the?portfolio were thought to be in line for the position, but Combs has left JPMorgan Chase this month and Buffett stated that Abel can handle it. Berkshire didn't immediately respond to our request for comment. Reporting by Jonathan Stempel, New York; Editing and proofreading by David Gregorio & Alistair Bell
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EIA reports that U.S. crude imports dropped last week, reaching their lowest level since February 2021.
The Energy Information Administration reported that the U.S. imported its lowest amount of crude oil in five years last week, as companies sought to avoid a heavy tax at the end of the year on oil stored in storage. According to EIA, U.S. crude imports fell last week to 4,95 million barrels a day. This is the lowest level since February 2021. John Kilduff, partner at Again Capital, explained that the?ad value tax was a burden on crude oil imports. Kilduff stated that "companies" will delay taking inventory of crude oil and refined products when they reach this point, especially in December. EIA data revealed that the U.S. crude inventory has increased due to lower imports, and robust refining activities. EIA data shows that oil imports from Mexico dropped to 71,000 bpd during the week ending December 26, the lowest ever recorded. This was lower than the previous all-time high for U.S. crude imports from Mexico, which reached 131,000 bpd during the week ending Nov. 28th 2025. The Mexican state oil company, Pemex, must maintain its production at 1.6 million barrels per day (bpd) of crude oil and condensate. This is a sharp drop from the 3.4 millions bpd that it produced 20 years ago. Reporting by Arathy S. Somasekhar in Houston and Georgina M. McCartney; editing by Chizu N. Nomiyama
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Critical Metals CEO expects Greenland deals to be closed in Q1 of 2026.
Critical Metals' top boss said that the company expects to complete the remaining 25% of "offtake agreements" for its Tanbreez project in Greenland by early 2026. It will also be open to investment from Washington. Tony Sage, CEO of Rare Earths, said that the Middle East's interest, which includes potential partners in Saudi Arabia and other energy-rich countries such as Bahrain, Oman, Qatar and Saudi Arabia, is a reflection of the efforts made by states with high energy costs to develop a processing capacity for rare earths, supported by lower electricity costs and quicker permits than the U.S. And Europe. Sage says that the company has pre-sold 75 percent of its planned production, divided between Europe and the U.S., in order to diversify supply to reduce geopolitical risks. Trump's administration is intensifying efforts to secure U.S. mineral supply chains, and has shifted some federal funding from grants to direct equity stakes. Washington wants to reduce its reliance on the market leader China. Trump stated last week that Greenland is vital to U.S. national security, and that an envoy that he appointed for the island will "lead" the charge. Four people with knowledge of the matter said in October that Trump administration officials had discussed taking a stake on Critical Metals. We would welcome it even though we did not ask for it. Sage stated that they had asked for a grant through the Defence Production Act. The report said that the Trump administration had considered converting this grant into equity if it were to be awarded. The White House has not responded to a request for comment. Sage stated that Critical Metals will begin mining in 2027 and first production is expected to start by mid-2028. Greenland's capital costs will likely total $500 million, while downstream processing facilities could cost up to $1 billion. Sage also said that the Austrian project for lithium remained on hold until the price of the battery metal recovered. Arunima Kumra in Mumbai, Ernest Scheyder for additional reporting; Veronica Brown and Anil d'Silva for editing.
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The blue-chip FTSE100 stalls at a record high and seals the strongest annual run since 16 years
The UK's FTSE 100 Index paused at record levels on Thursday in the final stretch to 2025, wrapping up its biggest annual gain in sixteen years in a shortened session. The blue-chip FTSE 100 closed 0.2% lower than the previous day, when it had reached a new record. The domestically-focused FTSE 250 midcaps index?declined 0.4%. Markets closed early on January 1 to avoid the New Year's holiday. The FTSE 100, Britain's blue chip index, outperformed major global markets by 2025. This was boosted?by the expectation of more Bank of England rate reductions, its strength in financials,?miners, and its appeal as a relatively inexpensive diversifier during periods of global volatility. The index increased by more than 21% in the past year. This is its best performance since 2009 and a fifth consecutive annual gain. Comparatively, the pan-European STOXX 600 rose 16.6% while the U.S. S&P 500 gained 17.2%. In a close vote earlier in December, the BoE announced its fourth 25 basis-point reduction of the year, and indicated that the pace of easing, which was already slow, could be slowed further. Resources-heavy FTSE 100 gained support from mining companies Fresnillo and Endeavour?Mining, as well as Antofagasta, who benefited from surging prices for gold, silver, and copper this year. Diageo, the world's leading spirits producer, and Bunzl, the largest business supplies distributor, both fell by around 37%. Other record highs were out of reach. The midcap index rose 9% in 2025, but remained almost 8% below the peak of 2021. Meanwhile, the FTSE Small Cap Index rose 10% and closed just 1.5% shy of its 2021 record.
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Copper prices fall at the end of the year after 2025's record high.
The dollar strengthened on Wednesday, and some investors took advantage of thin liquidity to profit. A year-end rally had pushed the metal up to a new record this week. It was now on track for its largest annual gain in sixteen years. The benchmark three-month copper price on the London Metal Exchange fell 1% by 1055 GMT to $12,425 per metric ton, after hitting a record high of $12,960 Monday. "We have seen a reaction in the last few days to what happened on 2025. The dollar has strengthened after?this years weakness, and copper is retreating from its recent highs," stated Dan Smith, managing Director at Commodity Market Analytics. Copper, which is used for power and construction, jumped 42% this year as mine disruptions fueled concerns over a tightening supply. The rally was also driven by a weaker dollar, which makes dollar-denominated goods cheaper for holders of foreign currencies. Speculators who anticipated a surge in demand due to the AI boom and the energy transition bought commodities. SHORT-TERM SESSIONAL SUPPORT Smith stated that seasonality would provide short-term support to copper in the physical market. The first quarter is usually supportive of the industrial cycle, with stock builds ups before summer. The demand for metals in China, which is the world's largest metal consumer, continues to be higher than expected. He added that imports between January and November are only down 3% on a year-on-year basis. Yangshan Copper Premium The price of copper in China, which is a measure of Chinese demand for imported copper, has ended the year at $51 per ton after reaching a three-month peak of $55 last weekend. The outlook for copper in the year 2026 is dependent on the policies of U.S. president Donald Trump, as U.S. Tariffs are driving the CME Premium to the LME. The premium on the metal has led to a tightening of availability in traditional consumption centres. "I anticipate that the inflows will continue in the short term. Smith stated that he does not expect a sudden reversal of these flows, since they are largely driven by arbitrage, and still subject to U.S. policies, which can be difficult to predict. Other LME metals saw aluminium rise 0.2% to $ 2,984.50 per ton. Zinc fell 0.8% at $3,099.50. Lead gained 0.4% at $2,018.50. Tin dropped 2.0% to $41,140. Nickel lost 0.6% at $16,715.
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The London blue-chip FTSE 100 is on course to end the strongest year since 16
The UK's FTSE 100 Index paused at record levels on Thursday in the final stretch to 2025, hoping to close out its biggest annual gain in sixteen years in a shortened session. Blue-chip FTSE 100 remained flat at 0902 GMT, after having closed on a record high a day earlier. The midcap index, which is primarily focused on the domestic market, fell 0.3%. The trading activity was low, with the markets expected to close at half-past noon on January 1, ahead of New Year's Day. After years of underperformance the blue-chip FTSE 100 will 'outpace major global markets? in 2025. This is due to expectations of more Bank of England rate reductions, strength in financials, miners, and its appeal as a cheap diversifier in times of global volatility. The index has risen by more than 21% in the past year. It is on track to achieve its best performance since 2009, and a fifth consecutive annual gain. Comparatively, the pan-European STOXX 600 rose 16.6% while the U.S. S&P 500 gained 17.2%. In a vote that was narrowly won, the BoE announced its fourth 25-basis point cut of the year, and signaled the pace of easing, which had already been gradual, could slow down further. The FTSE 100, which is a resource-heavy index, benefited from the'surging gold, copper and silver prices in this year. Bunzl, Diageo, and other business supplies distributors fell by around 37%, making them the index's worst laggards. (Reporting and editing by Nivedita Battacharjee in Bengaluru.)
Disney-Reliance India media merger examination: Who are their top rivals?
The $8.5 billion merger of Dependence and Walt Disney media properties was dealt its biggest problem yet after an initial evaluation by India's antitrust body
noted
that the combination might injure competition due to their dominance over cricket rights.
The proposed merger, initially announced in February, is anticipated to combine 120 television channels and 2 streaming platforms, and is set to challenge competitors such as Japan's Sony and Netflix in a $28 billion media and entertainment sector set to be worth $100 billion by the end of the decade.
Here is a list of the other top media players in India and the sectors they dominate:
ZEE ENTERTAINMENT
Among the oldest media companies in India, Zee's businesses include television broadcasting, video streaming and movie production. Its domestic broadcast portfolio includes around 48 television channels along with a streaming platform.
Japan's Sony Group in January ended on a $10. billion merger deal with Zee that had actually been in the works for 2. years, citing unresolved closing conditions and leadership. conflicts.
SONY INDIA
In its 29th year of operation, Sony Pictures Networks India,. Sony Group's subsidiary, operates 26 channels ranging from. general home entertainment to sports and motion pictures.
It states its material reaches as many as 700 million audiences. in India and is offered in 167 countries.
Sony also operates the video streaming platform Sony LIV in. India.
NETFLIX
The streaming giant Netflix views India as a key market. In. a current check out to India, Netflix Co-CEO Ted Sarandos was estimated. as stating that he sees its Indian customer base increasing to 100. million over time, from around 10 million now.
AMAZON PRIME
Amazon Prime Video is approximated to have about 20 million. users in India. Its Indian aggregation service, Channels, deals. subscriptions to other global and local video streaming. services.
BENNETT COLEMAN AND BUSINESS
Based in Mumbai and developed in 1913, the business. produces its flagship Times of India newspaper and owns a host. of assets in broadcasting, publishing, radio, movie and. entertainment.
SUN TELEVISION NETWORK
Dominant in south India, Sun television operates 35 TELEVISION. channels in 6 languages, together with 69 FM radio stations and. three everyday newspapers.
(source: Reuters)