Following the announcement of a new fee on H-1B visas, flight prices from India to the US skyrocketed due to a surge in demand as individuals rushed to return. Simultaneously, users on 4Chan initiated “Operation Clog the Toilet,” aiming to further inflate prices and hinder bookings by reserving seats without completing purchases. This tactic, aimed at exploiting seat-holding features, contributed to the scarcity of available flights and amplified the price increases. Despite a White House clarification that the new fee wouldn’t affect current H-1B holders abroad, major companies had already instructed employees to return or stay in the US, exacerbating the travel chaos.
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According to the Nikkei daily, Japan’s chief trade negotiator canceled a planned trip to Washington due to unresolved disagreements regarding rice imports. Japanese officials are reportedly dissatisfied with a U.S. presidential order that would mandate increased rice purchases from the United States and tariff reductions on agricultural goods. Although further administrative talks are needed, Akazawa anticipates a return visit to the U.S. before the Trump administration issues the executive order. Japan aims to address all outstanding issues before proceeding with the agreement’s implementation.
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Home Depot announced that it would have to raise some prices due to tariffs on imported goods. The company’s CFO stated that while these price increases would be modest and not across all categories, they are a direct result of the Trump administration’s import taxes. Although sales increased, net income slipped, and the company anticipates a 2% decrease in full-year earnings per share due to economic uncertainty and high interest rates discouraging large home renovation projects. Home Depot executives remain optimistic that these large projects will resume in the future, driving improved financial results.
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The Shopping Trends team, separate from CTV News journalists, is dedicated to providing consumers with curated shopping recommendations. They may earn commissions on purchases made through the links they provide, which supports their independent operations. This team aims to highlight various products and deals, offering insights into current shopping trends. Readers are encouraged to understand the team’s financial relationship with retailers when making purchasing decisions.
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Spirit Airlines filed for Chapter 11 bankruptcy protection due to mounting losses, high debt, and failed merger attempts. The airline will continue operations while restructuring its debt, with creditors providing an additional $300 million in funding. While a sale or liquidation remains possible, Spirit aims to emerge from bankruptcy early next year with reduced debt and enhanced financial flexibility. This restructuring could impact industry fares, as Spirit’s low-cost model influenced competitors.
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John Q. Hosedrinker