Donald Trump says Venezuelan airspace is closed

Donald Trump has granted clemency to David Gentile, a private equity executive convicted for his involvement in a $1.6 billion fraud scheme that defrauded thousands of investors. Gentile had recently begun serving a seven-year prison sentence following his conviction in May. This decision has drawn significant attention due to the nature of the crime and the timing of the clemency.

Swiss voters have decisively rejected a proposed 50% inheritance tax aimed at the super-rich, with estimates indicating that 79% voted against the measure in a recent referendum. This outcome reflects a strong opposition to wealth redistribution policies among the electorate.

OpenAI, the company behind ChatGPT, is facing increasing pressure as competitors begin to close the gap in the artificial intelligence market, raising concerns about its future dominance. The company, valued at $500 billion, has yet to achieve profitability, which is further compounded by its partners carrying significant debt.

The Financial Times explores the evolution of clocks from mere tools for measuring time to instruments that dictate the pace of modern life, particularly within capitalist societies. This transformation highlights how the measurement of time has become intertwined with economic productivity and personal wealth.

China's services activity has reached a three-year low, with data from the national statistics agency indicating a persistent decline in demand across the economy. Concurrently, factory activity continues to contract, reflecting ongoing challenges in both sectors.

President Donald Trump announced the closure of airspace above Venezuela, coinciding with an increase in U.S. military presence off the Venezuelan coast. This decision is part of a broader strategy to combat drug cartels and support efforts to oust President Nicolás Maduro amid escalating tensions between the two nations.

Small business owners in the U.S. are expressing concern over the impact of Donald Trump's tariffs on holiday sales, which have raised prices on popular goods and led to a significant number of businesses closing. Despite hopes for strong holiday sales, many owners remain skeptical about alleviating the financial strain experienced throughout the year.

Airbus has announced that approximately 6,000 A320 jets require a software update to address potential vulnerabilities caused by solar radiation, which could affect critical flight control data. This update is expected to cause significant disruptions for airline travelers as it coincides with peak travel times.