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Leverage piles into Samsung, SK Hynix as margin debt hits records

A flag of Samsung Electronics Co. flies outside its headquarters in Seoul, South Korea, 14 October 2025. Samsung announced a consolidated operating profit of approximately 12.1 trillion Korean Won (8.5 billion US Dollars) for the quarter ending in September 2025. File. Photo by YONHAP / EPA

Jan. 9 (Asia Today) — South Korea’s stock market rally is drawing a surge of debt-fueled trading into heavyweight shares such as Samsung Electronics and SK Hynix, both of which have set record highs, as regulators and brokerages warn about overheating risk tied to rising margin balances.

The Korea Financial Investment Association said the nation’s total margin loan balance stood at 28.1903 trillion won (about $19.4 billion) on Thursday, a level the industry often associates with late-stage bull market behavior as leverage expands alongside index gains.

Borrowed funds have been concentrating in top market-cap stocks. Samsung Electronics’ margin loan balance stood at 1.8013 trillion won (about $1.24 billion) on Wednesday, the highest since the data series began, according to the report. During a sharp rally in June 2021, the company’s margin balance was around 700 billion won (about $483 million), it said.

SK Hynix has also seen a steady rise in margin borrowing. Its margin loan balance was 1.1504 trillion won (about $793 million), up from 884.1 billion won (about $610 million) at the end of last year, the report said, adding that the balance has increased for four straight sessions amid the record-high move.

Market watchers said a faster pace of gains can raise the chances of market alert actions. Under Korea Exchange monitoring rules, a stock can be designated an investment warning issue when sharp price rises and unusual trading patterns occur over a defined period, the report said.

The report cited SK Hynix’s experience on Dec. 11 last year, when its shares saw volatility after being designated an investment warning issue. The stock closed at 565,000 won (about $390), down about 3.7% from the prior close of 586,000 won (about $404), it said.

Once a stock is designated an investment warning issue, new margin buying is restricted, the report said, adding that authorities can escalate measures if rapid gains persist, including a trading halt in more severe cases.

The Korea Exchange recently revised its rules to limit the impact of “extremely long-term upward trends” in large-cap stocks, but the report said big semiconductor shares can still face market alert measures if short-term surges or abnormal trading emerge.

Margin trading is drawing attention because it can amplify selling pressure during corrections as forced liquidation accelerates when prices fall, the report said, adding that elevated margin balances in large-cap stocks could heighten future volatility.

A market official cited in the report said improved semiconductor conditions and earnings expectations may support share prices for now, but the pace of leveraged inflows and any regulatory signals will be key variables going forward.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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Chaos as major UK rail network suspends ALL trains with millions warned ‘do not travel’ after Storm Goretti hits

STORM Goretti is continuing to cause chaos across the UK as further travel disruptions are confirmed.

A number of rail lines have suspended services as the first storm of the year batters Britain.

Rail networks across the country have suspended services due to Storm Goretti (stock image)Credit: PA:Press Association
Strong winds have brought damage to cars in CornwallCredit: Getty

West Midlands Railway officially cancelled routes this morning, Friday, 9 January.

In an official statement, the rail network said it is “unable to provide services until the afternoon”.

“Due to the significant ongoing transport and infrastructure disruption caused by Storm Goretti, we advise passengers not to travel on West Midlands Railway services on the morning of Friday, January 9,” the operator said.

“Passengers wishing to travel on the afternoon on Friday 9th January should check their journeys before they travel as we work to resume services.”

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No rail replacement road services will be provided due to “uncertain road conditions”.

Network Rail are also experiencing disruption after a “very intense heavy snow” hit the West Midlands/Shropshire and Staffordshire areas on Thursday night.

Efforts are being made to clear rail routes, with some services expected to be affected until Sunday, 11 January.

Meanwhile, Avanti West Coast issued “do not travel” advice to anyone planning to use Midlands routes until 1pm on Friday.

“An amended timetable will operate across all routes from 0700 until 1500, when we currently expect services to return to normal,” the train service operator said.

“We strongly recommend travelling outside these times if possible.”

Storm Goretti has also caused disruptions to air travel, with East Midlands Airport and Birmingham Airport forced to cease operations after flurries of snow left runways unusable.

Some areas of the country could see as much as 15-25cm of snow fall and settle as the extreme weather continues for a second day, while Cornwall and the Isles of Scilly were issued a rare red weather warning.

Gusts of 99mph were recorded at St Mary’s Airport on the Isles of Scilly while 90mph winds hit Culdrose, Cornwall where gales brought down power lines and trees.

National Highways said the A30 in Cornwall is closed in both directions between the A394 at Longrock and the A3074 at St Erth.

The closure is reportedly “due to a large number of trees that have fallen and are blocking the road”; Devon and Cornwall Police are assisting at the scene.

Specialist crews are working to clear the trees from the carriageway.

The A628 Woodhead Pass connecting Greater Manchester and South Yorkshire also remains closed in both directions between the A616 for Flouch and the A57 for Hollingworth because of snow.

National Highways has urged drivers to check the weather forecast before travelling today, saying: “Consideration of the weather forecast should be taken before commencing journeys, with considerable delays possible.”

Birmingham Airport was forced to cease operations due to heavy snowfall from Storm GorettiCredit: Alamy

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Sabalenka hits out at tennis chiefs over ‘insane’ tournament scheduling | Tennis News

The world No 1 expects to ‌skip events again this year and face likely sanctions rather than put her health at risk.

World number one Aryna Sabalenka has accused tennis authorities of “following their interests” and failing to put player welfare first over what she called an “insane” tennis season.

The Belarusian expects to ‌skip events this year rather than put her health at risk over ‍the course of ‍the season, even though she knows she is likely to be sanctioned by the WTA Tour for doing so, the world number one said on Thursday.

Top players are obliged to compete in all four Grand Slams, 10 WTA 1000 ⁠tournaments and six WTA 500 events under WTA rules, with the punishment for missing them ​ranging from rankings points deductions to fines.

In 2025, Sabalenka competed in ‍just three WTA 500 events – Brisbane, Stuttgart and Berlin – making her one of several high-ranked players, including world number two Iga Swiatek, to be docked ranking points.

Asked if she would change ‍her plans for ⁠2026, the four-time Grand Slam champion told reporters: “The season is definitely insane, and that’s not good for all of us, as you see so many players getting injured …

“The rules are quite tricky with mandatory events, but I’m still skipping a couple of events in order to protect my body, because I struggled a lot last season,” she said after beating Sorana Cirstea at the Brisbane ​International.

“Even though the results were really consistent, some of the ‌tournaments I had been playing completely sick or I’d been really exhausted from overplaying. This season, we will try to manage it a little bit better, even though they are going to fine me by ‌the end of the season.

“But it’s tricky to do that. You cannot skip 1000 events. It’s really tricky, and I ‌think that’s insane what they do. I think they ⁠just follow their interests, but they’re not focusing on protecting all of us.”

The number of events in the tennis calendar has been a frequent complaint in recent months among the sport’s biggest names.

Men’s world number one Carlos Alcaraz is another to have voiced concern about the amount of tennis he plays, although he has also signed up to feature in lucrative exhibition matches.

He faces great rival Jannik Sinner in one such event on Saturday in South Korea, barely a week before the Australian Open.

The men’s and women’s circuits have faced criticism due to their 11-month seasons, and both tours came under new scrutiny during the “Asian swing” towards ‌the end of last year, with injuries piling up.

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Inside world’s coldest city where frostbite hits in minutes and it dips below -40C

Temperatures regularly plunge to -40C in this city and exposed skin can show first signs of frostbite within 10 minutes.

While we’re currently shivering through a British winter, with temperatures plunging below freezing in many parts of the country, it’s nothing compared to life in the world’s chilliest city.

In this frosty city temperatures regularly plummet below -40C, and every venture outdoors necessitates layers upon layers of clothing. Cars freeze solid, bus stops require heating, and if you’re not adequately prepared, you could freeze in “minutes”.

Welcome to Yakutsk, officially the coldest city on Earth.

Situated in northeastern Siberia, Yakutsk is home to over 372,800 people. The city is built on permafrost and only basks in around four hours of sunlight each day, resulting in incredibly low visibility.

Residents must be well-equipped to handle the severe conditions, and having the right attire is absolutely vital, reports the Express.

One woman, known as Kiun B on YouTube, shares her experiences of living in this icy metropolis. In one video, she reveals just how demanding (and costly) it can be to run everyday errands in such an environment.

With the mercury at a bone-chilling -42C, she explains that layering is key. Her outfit includes two pairs of leggings, thick wool bands over her knees to protect her joints from the cold, insulated trousers, and two jackets as standard.

She also dons specialised fur boots, as regular winter footwear would simply freeze. She warns that without these layers, she would freeze “in minutes.”

And quality winter gear doesn’t come cheap, with a decent coat setting you back up to £600, and boots costing even more.

Despite bundling up, Kiun revealed that the brisk five-minute stroll to her nearest bus stop can be quite a struggle.

The biting cold seeps through her clothes and her hair freezes. After just ten minutes, her nose turned white – an early sign of frostbite, forcing her to dash into the closest shop for warmth.

Another intriguing aspect of life in these conditions is the infrequent use of mobile phones. The severe cold drains batteries swiftly, so Kiun confessed she only uses hers in emergencies.

In addition to battery issues, she mentioned that using them outdoors is difficult as it necessitates removing your specialised gloves to type, risking frozen fingers.

Discussing her diet, Kiun explained that she needs more calories to keep warm in the harsh temperatures. According to her, having two breakfasts is completely normal as it helps her and other locals stay warm.

Fresh produce is considered a luxury, as nothing can really grow on the permafrost.

All fresh fruits and vegetables are imported from warmer climates, leading to prices nearly double those in central Russia. As a result, she relies on items like long-life milk and tinned beef.

Nevertheless, even without any fresh vegetables or meat, weekly groceries for one can still amount to as much as £111.

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The Ashes 2025-26: Travis Head hits back after Joe Root makes 160 in Sydney

Root has been feast or famine in this series. Until this Test, his landmark century in Brisbane was one of only two occasions when he passed 20. In Sydney, the city where he was dropped for the only time in his Test career and once batted himself into hospital in extreme heat, the former captain was outstanding.

Without Root, England would have squandered their promising overnight position of 211-3. Harry Brook played a limp poke at Scott Boland to be caught at slip for 84 and Stokes edged a beauty from Mitchell Starc for an 11-ball duck, meaning the tourists lost 2-3 in four overs.

On one hand, Smith’s role in a stand of 94 with Root was valuable, but the wicketkeeper was fortunate to last so long. He was caught off a Cameron Green no-ball on 22, then edged and miscued the same bowler. The dismissal to Labuschagne’s bouncer plan as the second new ball approached was an appalling piece of cricket.

By this point, Root had moved to three figures from his overnight 72. After edging Neser over the slips on 94, he drove the same bowler down the ground to join Australia great Ricky Ponting on 41 Test tons – only India’s Sachin Tendulkar and South Africa’s Jacques Kallis have more. He celebrated with the same shrug of the shoulders he pulled in Brisbane.

On he went, adding 52 for the seventh wicket with Will Jacks. He passed 150 for the 17th time in Tests – only four other players have done so more.

Root eventually offered a leading edge to a diving Neser in the bowler’s follow-through, part of England’s final collapse of 4-9. After more than six and a half hours at the crease, he later left the field holding his lower back, and England face an anxious wait on his condition.

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Reality star hits back at troll who branded her chubby with defiant post about body positivity

A REALITY star just clapped back against trolls in the sassiest way, uplifting women of all shapes and sizes.

The former Love Triangle contestant, 29, has grown tired of trolls making unnecessary remarks about her weight.

Sadie stunned while clapping back at trolls on Instagram
The sassy star made haters feel dumb for calling her names
Fans loved the way she handled the hate

So she snipped out one of the nasty comments and posted a simple yet effective response – immediately shutting the troll down.

Sadie Bass got dolled up in a gorgeous forest green bodycon dress with a plunging neckline.

The darts at the waists cinched in her fabulous figure, while she confidently smiled her red lips towards the camera.

She finished the look off by curling her hair into a vintage-esque wave that flowed freely down her shoulders.

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“is this body CHUBBY or curvey… am confused,” said the rude comment Sadie pasted next to the clip of her in the stunning down.

But Sadie clapped back: “This body is *HOT I hope that clears up any confusion x” while mouthing along to Michael Jackson‘s Dirty Diana, flaunting her beauty.

As Sadie flipped her hair and modelled the dress to perfection during the clip, her fans couldn’t get enough.

“Damn straight,” said one user in the post’s comments on Instagram.

A second added: “Always sexy and beautiful xxx.”

A third empathised with Sadie’s feelings about women being labelled: “Beautiful!

“I had an ex who called me chunky and I was upset at the fact he even had to put a label on it.”

Captioned, “People’s obsession with categorising women’s body types is BORING. can we leave it in 2025 pls???”, fans adored Sadie’s striking between sass and profound messaging.

Sadie appeared on season two of the Channel 4 reality show Love Triangle.

It’s where she met her partner Danny, who she moved in with in the middle of last year.

Love Triangle sees six singletons (the pickers) who text two potential lovers and then have to pick one for a blind date.

Viewers watch contestants meet for the first time after exchanging flirty texts, before moving in together and learning more about one another.

Some of the couples on the show were introduced to a third person (Sadie, in Danny’s case).

At the end of the series the picker has to choose who they want to be with out of the love triangle.

Sadie radiates body confidenceCredit: Instagram
She used to be slimmer while on Love TriangleCredit: Tiktok
She met her boyfriend Danny on the since-axed reality programmeCredit: Tiktok

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Severe weather in Gaza hits vulnerable and wounded most in Israel’s war | Israel-Palestine conflict News

The winter has made a life of relentless suffering worse for the people of Gaza, particularly for the wounded, children and elderly, with hundreds of thousands in the Palestinian territory displaced by Israel’s genocidal war desperately trying to survive on the scant humanitarian aid Israel is allowing in.

Nine-year-old Assad al-Madhna lost his left hand when Israeli fire hit a group of children playing in al-Zuwayda in central Gaza. The same attack also wounded him in the leg.

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Now, as winter envelops the besieged enclave, Assad’s pain increases as the metal rods and pins holding his leg in place stiffen in the cold, making every step slower and agonising.

“I can’t play with other children as in winter, my legs and hands hurt a lot,” he told Al Jazeera.

“I haven’t received any prosthetic, struggle to change my clothes, and going to the toilet in this cold is a real challenge,” he said, adding: “Without my parents, I can’t manage it. At night, the severe cold becomes unbearable.”

A truce between Israel and Hamas since October 10 has been fragile, a ceasefire in name only, according to Palestinians and rights groups, after two years of destructive war.

Despite the truce, Palestinians in crowded camps – often in damaged tents and surrounded by mud – still face severe humanitarian conditions, trying to survive with few or no resources, making life the hardest for the most vulnerable.

‘No heating at all’

Eighteen-year-old Waed Murad survived an attack that wiped out her entire family – seven relatives in one strike.

She now lives with a life-altering injury, and when the temperatures drop, her nerve pain intensifies, sleep slips away, and the little recovery she had is threatened.

“I can’t keep myself warm because of the severe cold with the metal bars and pins always freezing,” she told Al Jazeera.

“I am living in a tent with no heating at all. Every time I hear the wind, I feel the pain will get worse, as the cold will affect the metal fixation devices even more.”

In the enclave, temperatures at night have ranged between eight and 12 degrees Celsius (46 and 53 degrees Fahrenheit) in recent days.

Nearly 80 percent of buildings in the Gaza Strip have been destroyed or damaged by the war, according to United Nations data.

About 1.5 million of Gaza’s 2.2 million residents have lost their homes, said Amjad Shawa, director of the Palestinian NGO Network in Gaza.

Of more than 300,000 tents requested to shelter displaced people, “we have received only 60,000,” Shawa told the AFP news agency, pointing to Israeli restrictions on the delivery of humanitarian aid into the territory.

Israel slammed for banning NGOs

Meanwhile, the international community has condemned Israel’s recent announcement of a suspension of the operations of several international nongovernmental organisations in the occupied Palestinian territory.

UN Secretary-General Antonio Guterres said he was deeply concerned and called for the measure to be reversed.

“This announcement comes on top of earlier restrictions that have already delayed critical food, medical, hygiene and shelter supplies from entering Gaza.”

“This recent action will further exacerbate the humanitarian crisis facing Palestinians,” Stephane Dujarric, spokesman for the secretary-general, said in a statement.

Several countries in the Middle East and Asia called on Israel to allow “immediate, full, and unhindered” deliveries of humanitarian aid to the Gaza Strip as winter storms lash the bombarded Palestinian enclave.

In a statement on Friday, the foreign ministers of Qatar, Egypt, Jordan, Saudi Arabia, the United Arab Emirates, Turkiye, Pakistan and Indonesia warned that “deteriorating” conditions in Gaza had left nearly 1.9 million displaced Palestinians particularly vulnerable.

“Flooded camps, damaged tents, the collapse of damaged buildings, and exposure to cold temperatures coupled with malnutrition, have significantly heightened risks to civilian lives,” the statement read.

Earlier this month, Gaza experienced a similar spell of heavy rain and cold.

The weather caused at least 18 deaths due to the collapse of war-damaged buildings or exposure to cold, according to Gaza’s civil defence agency.

On December 18, the UN’s humanitarian office said 17 buildings collapsed during the storm, while 42,000 tents and makeshift shelters were fully or partially damaged.

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Corrie’s Beverley Callard hits back at ‘skinny jab’ rumours as she shows off weight loss

Coronation Street legend Beverley Callard, who starred as Rovers landlady Liz McDonald, has hit back at accusations she has taken weight loss medication to get into shape

Beverley Callard has insisted she has not been using jabs to lose weight. The actress, 68, who is best known for her legendary portrayal of former Rovers Return landlady Liz McDonald on Coronation Street, is also a qualified fitness instructor alongside her television career and took to social media on Friday to show off her trim new figure.

But some followers did not believe that she had simply adopted a healthier diet and exercise regimen to drop the pounds and accused her of turning to “skinny jabs” as a quick fix.

In the video, Beverley said: “No girls, I am not on a skinny jab. I have worked out my whole life and I have been working my a** off, literally. Although I must say, I would not knock anybody who is on it. Just do what you’ve got to do.” The former I’m A Celebrity…Get Me Out Of Here! star, who was last seen in her signature soap role in 2020, also used the caption of her post to quash the accusations.

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She wrote: “Just addressing some of the comments I’ve been getting recently about my weight… as there have been quite a few! I’ve spent my whole life doing fitness and working my arse off… literally! Each to their own when it comes to weight loss, but I’m not on any weight loss jabs. Just clearing that up!”

During the height of her television fame in the mid to late 1990s, Beverley released a series of workout videos and also wrote a fitness-themed column for the Mirror. Fans of the Two Pints of Lager and A Packet of Crisps actress rushed to the comments section to throw praise on the star.

One wrote: “You have always looked amazing @beverleycallard ignore all the comments those who love you and follow you know you’ve done this with healthy eating & good exercise happy new year to you & keep doing what your doing xx”

Another said: “I still use your exercise DVD, it’s still fab! You need to upload it or do a new one!” and a third wrote: “I’ve been working out to your DVDs for years. Along with Rosemary Conley, you are my favourite fitness instructor. I’d love to train with you for real if you ever decide to hold some local classes.”

Since quitting her role as Liz, Beverley moved from Manchester to Norfolk with her husband Jon McEwan and quickly started offering exercise classes in her local area. When she launched them in 2022, she said: “I can’t wait to meet you all. Thank you to all of you who have been in touch already! Those of you who have emailed but not filled in the questionnaire yet, please send me them!

“If you’re interested in being one of my 25 strong women and part of my new fitness classes.” Beverley was an aerobics teacher before she was cast as Angie Richards in Emmerdale in 1983, and when she left Coronation Street for the first time in 1998, she decided to focus on her fitness career once again.

She then appeared as Liz again from 2003 until 2011, and then again from 2013 until 20202. Once she left for the final time, Beveley admitted she had worked six days a week and filmed from 7am to 10pm in the evening.

Beverley also took a swipe at the writers of the long-running ITV soap as she spoke of why she doesn’t think the “scripts are as good now”, in comparison to when she first made her appearance as Liz in 1989.

In an interview with The Sun, Beverley said of her decision to leave: “As an actor, you’re scared to say no to a job, but the scripts came and I thought I’ve just got to trust my instincts really. It’s not nine to five, it’s like seven until ten at night and it’s six days a week, it’s really full on and you have no life, like it used to be a lot harder years ago when the cast was smaller. I personally don’t think the scripts are as good now, I think we’re overloaded with soap operas, which is a shame.”

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Storm Francis weather warning hits Canary Islands but local shows the reality

A local in Lanzarote has been left confused by the weather warnings for Storm Francis, which is expected to bring strong gusts, heavy thunderstorms and even snow to the Canary Islands

Tourists planning trips to the Canary Islands have been cautioned about Storm Francis, which was forecast to bring powerful winds, torrential thunderstorms and even snowfall to the area.

However, one resident in Lanzarote has expressed bewilderment over these alerts. Mr Travelon has shared a TikTok video showing the actual conditions on the island at present.

Whilst there have been slightly breezy spells in the popular resort, the weather is far from the severe conditions anticipated. So the expat, filmed standing on the beach beneath clear blue skies, questioned: “Where’s this storm Francis? Because it hasn’t arrived yet in Lanzarote.”

The Lanzarote resident was sporting sunglasses while delivering his update. And despite wearing a fleece, he didn’t require a heavy winter coat.

His video went on: “It was meant to arrive New Year’s Day, we were meant to be seeing the new year in with a storm. Seas looking a little bit choppy, there’s a red flag up there saying ‘do not swim’ and I certainly wouldn’t be getting in that today. But is the storm here… it’s about 14 degrees!”

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The holidaymaker then swept his camera across the island, giving viewers a glimpse of the conditions on January 2. He went on: “It is definitely a little bit breezy and the sun is coming up just over there.

“The trees are blowing so we’ve definitely got some sort of medium storm on the way, but they did say it’s possibly going to pass quite quickly. Will it be a pool day today? I doubt it. But that dark cloud is looking like it might start raining.”

The climate in Lanzarote appears considerably more pleasant than what we’re currently experiencing back home in Britain – but that doesn’t mean it won’t change.

There remains a possibility the storm could arrive later today, so tourists are still being told to exercise caution over the next few days.

Consequently, Spain’s meteorological agency AEMET has urged travellers bound for the Canary Islands to stay informed about weather updates.

AEMET stated: “Due to the high level of uncertainty regarding the evolving situation and the potential impact on outdoor activities in the coming days, close monitoring of forecast updates is recommended.

“Today, Storm Francis is expected to affect the Canary Islands, bringing southwesterly winds to coastal areas with very strong gusts, as well as locally heavy and persistent thunderstorms that will move from west to east throughout the day and into the early hours of tomorrow.

“Strong winds will persist in exposed areas and mid-altitude zones until the middle of the 3rd. On the Iberian Peninsula, after a few days of relative stability with scattered showers in the Cantabrian region and the western third of the peninsula, increased instability is likely from the 3rd onwards in areas of the southern and southeastern thirds, with showers that could be locally heavy and persistent in areas of the Gulf of Cádiz, the Strait of Gibraltar, the Costa del Sol, and Cabo de La Nao.

“On the 4th and 5th, the potential interaction with the cold air mass could bring snowfall to mid- to low-lying elevations in the southeastern quadrant of the Iberian Peninsula, with the highest probability and accumulations expected in the eastern Iberian System, the eastern part of the southern plateau, the mountain ranges of the Valencian Community, and the area around the Baetic System. It is possible that snowfall will extend, with less intensity, to other areas of the Iberian System, the central peninsula, and the northeastern third of the peninsula. Additionally, snow showers are expected at mid-elevations in the Cantabrian area.

“From the 6th onwards, the most likely scenario is that precipitation will decrease in intensity and extent in southern areas, although it could still be locally heavy in the Strait of Gibraltar and Melilla, while snowfall will become restricted to mountainous areas, especially in the northern third of the peninsula.”

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Over 1,500 flights cancelled as winter storm Devin hits US holiday travel | Travel News

More than 40 million Americans under winter storm warnings or weather advisories as heavy snow expected.

Thousands of flights have been cancelled and delayed in the United States due to winter storm Devin, airline monitoring website FlightAware reports, dealing a blow to air travel during peak holiday time.

A total of 1,581 flights “within, into or out of the” US were cancelled and 6,883 delayed as of 4pm US Eastern Time (21:00 GMT) on Friday, according to FlightAware, which describes itself as the world’s largest flight tracking data company.

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The delays and cancellations came as the US National Weather ⁠Service warned of winter storm Devin causing “hazardous travel conditions” and heavy snow forecast across parts of the Midwest and northeast.

More than 40 million Americans were under winter storm warnings or weather advisories on Friday, plus another 30 million under flood or storm advisories in California, where a so-called atmospheric river has brought a deluge of rain.

New York City, the largest US city, was bracing for up to 250mm (10 inches) of snow overnight on Friday, the most expected in four years. Temperatures were forecast to drop into the weekend when an Arctic blast is expected to swoop down from Canada.

New York’s John F Kennedy airport, ⁠Newark Liberty international airport and LaGuardia airport warned travellers of potential delays or cancellations. More than half of the flight cancellations and delays took place at these three airports, according to FlightAware.

JetBlue Airways cancelled 225 flights on Friday, the most among the US carriers, closely followed by Delta Air Lines, which cancelled 212 flights. Republic Airways cancelled 157 flights, while 146 were cancelled by American Airlines and 97 by United Airlines.

“Due to winter storm Devin, JetBlue has cancelled approximately 350 flights today and tomorrow, primarily in the Northeast where JetBlue has a large operation,” a JetBlue spokesperson told the Reuters news agency.

On the US West Coast, powerful winter storms brought the wettest Christmas season to Southern California in 54 years.

There was still a risk of more flash flooding and mudslides on Friday despite slackening rain around Los Angeles, the National Weather Service warned.

Firefighters rescued more than 100 people on Thursday in Los Angeles County, with one helicopter pulling 21 people from stranded cars, officials said.

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Iran’s government budget reveals tough road ahead as currency hits new low | Business and Economy News

Tehran, Iran – Iran’s currency has been registering new lows amid ongoing economic turmoil that is also reflected in a planned budget for next year that effectively shrinks public spending.

Each United States dollar was priced at about 1.36 million rials in the open market on Wednesday in Tehran, its highest rate ever, before the Iranian currency slightly regained ground on Thursday.

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The embattled national currency has been rapidly declining over recent weeks as the US and its Western allies pile on their sanctions and diplomatic pressure, and the threat of another war with Israel lingers.

President Masoud Pezeshkian this week sent his administration’s finalised proposed budget to the hardline-dominated parliament for the upcoming Iranian calendar year, which starts in late March. The budget will then have to be greenlit by the 12-member Guardian Council before being ratified into law in the coming weeks.

The presented budget nominally grew by just over 5 percent compared with last year, but inflation currently stands at about 50 percent – indicating that the government envisions lower spending while managing a so-called “resistance economy” as it faces a massive budget crunch yet again.

But minimum wages are to be raised far below the inflation rate, too, at only 20 percent, meaning that Iranians are once more guaranteed to have far less spending power next year as the embattled national currency sinks.

epa12605803 Iranians view Yalda decorations as they prepare to celebrate the Yalda feast in Tehran, Iran, 20 December 2025. Yalda is an ancient tradition marking the onset of winter and the longest night of the year. The celebration goes back thousands of years to the time when Zoroastrianism was the predominant religion of ancient Persia. Watermelons and pomegranates, along with dried fruit, are the main specialties of the Yalda feast. EPA/ABEDIN TAHERKENAREH
Iranians view decorations as they prepare to celebrate the Yalda feast, an ancient tradition marking the onset of winter and the longest night of the year, in Tehran, Iran, on December 20, 2025 [Abedin Taherkenareh/EPA]

At the same time, the budget says the government sees taxes rising by a massive 62 percent next year, as authorities try to gradually decrease dependence on oil revenues amid US efforts to drive down Iranian exports, which are carried by a shadow fleet of ships mostly to China.

At the current exchange rate, the whole budget is worth about $106bn, several times lower than the projected 2026 budgets of regional players like Turkiye, Saudi Arabia and Israel.

Iran’s rent-distributing multi-tier exchange rate system is still at play, with the government proposing allocating a rate for customs duties, import valuation and budget accounting tables, and another closer to the open market rate used for oil revenue realisation.

An earlier subsidised exchange rate, which was far lower than the open market rate, has now been abandoned. Any excess cash resulting from this is expected to be doled out to low-income Iranians in the form of electronic coupons that can be used to buy essential items like food.

For the first time, the budget is drafted in new rials as four zeros are expected to be removed from the ailing national currency by the time the budget is operational for next year.

After years of back and forth, the parliament in October approved the government plan to lop off four zeros. The move is only cosmetic and will not help with the runaway inflation, but proponents argued it was necessary after years of currency devaluation.

Budget spells grim outlook

Several major factors have already been raising alarm over how bad the economic situation could become next year.

Iranians online reacted poorly to the fact that the government predicts wages will be far outpaced by inflation and tax collection. Others were concerned that eliminating the subsidised rate for essential goods could cause another price shock in the short term.

Many shared a video of Pezeshkian from last year running for president, when he said during a televised interview that the stark disparity between wage increases and inflation is a “grave injustice” being done to the Iranian people.

“Unfortunately, so long as we do not resolve the structural issues, we are making labourers and government workers poorer by the day while those with money get bigger and bigger,” Pezeshkian said at the time.

“This inflation is an additional tax on the poor and the disenfranchised.”

Iranian women shop in a local market as the value of the Iranian rial drops, in Tehran, Iran, December 20, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY
Iranian women shop in a local market as the value of the Iranian rial drops, in Tehran, Iran, on December 20, 2025 [Majid Asgaripour/WANA (West Asia News Agency) via Reuters]

But successive governments have failed to eliminate budget deficits or rein in banks teetering on the brink of insolvency, therefore relying on the central bank to print more money to run the country and, in turn, exacerbate inflation.

Earlier in December, the government proceeded with increasing the price cap of petroleum despite repeated assurances it had no plans to that effect this year. The move has already led to increased transport costs, which will end up taking inflation higher.

There are now four price tiers for petroleum, with the cheapest and lowest quality that is available to most Iranians costing up to 50,000 rials per litre (about $1.19) and higher quality imported fuel delivered this week at 800,000 rials per litre ($19).

Hamid Pourmohammadi, who heads the Plan and Budget Organization of Iran, insisted that the government has devised a 20-point plan to be unveiled soon that will reduce pressure on the livelihoods of Iran’s 90 million population.

“The government is trying to adopt an active approach to address the economic challenges of the people, businesses and economists, so there is no perception of complacency in these economic conditions,” he said.

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Jason Manford hits back as he’s branded ‘unfunny’ after hosting Royal Variety

Salfordian comedian Jason Manford was forced to defend himself when Royal Variety Performance viewers went in on him after he hosted the annual televised charity event

Jason Manford got defensive on social media when Royal Variety Performance viewers slated him on social media after it was aired on Sunday. Salford native Jason, 44, hosted the annual charity event, which saw the Prince and Princess of Wales enjoy the show.

But Jason Manford appeared to divide opinion with his jokes about class, opening the show with a quip about his kids being middle class, after he was brought up as a working class lad. Kicking off proceedings on the ITV show, Jason stated: “I’ve created monsters,” before explaining his kids refused warm ‘smashed avocado’, joking that it was actually mushy peas from the chippy.

Although his comedy seemed to go down well with the royals, even getting a chuckle from the Prince of Wales, viewers at home were more critical of the comedian. One viewer commented on social media: “Can’t believe Jason Manford is rehashing all this stuff about his brother and class. Been doing it for years #royalvariety.” Another added: “Nice enough bloke but he ain’t that funny. #RoyalVarietyPerformance.”

A third viewer wrote: “You complete ****hole! 99% of Uk can’t stand u!!” But Jason wasn’t accepting any negativity, replying to the unhinged comment: “Merry Christmas mate.” Not letting go, the viewer added: “You jumped up halibut! You’re a pauper in most eyes!” Jason responded: “And a Happy New Year xx”

Another viewer – who also had no profile picture – commented: “It would be better if he did not shout so much.” On one, Jason added: “It’s a a big room sweetie.”

Someone else commented that they thought Jason is being eyed up for the Strictly job, to which Jason joked: “Funnily no one has called, unless it’s a surprise to me too.” Oblivious, another viewer replied: “No one will either.” Jason got shirty, hitting back: “That was the joke f*** face.”

When another fan commented that Jason was “smashing it”, a disgruntled viewer replied: “We must be watching different shows,” to which Jason said: “Maybe you’re just not in the mood.”

But for every critic, there was praise for Jason’s hosting skills. One viewer posted: “You’re brilliant on Royal Variety! Definitely need to host again next year!” Others realised they’d caught feelings, with one typing: “How good does @JasonManford look!!! I mean DAMMN the crush I have on him wasn’t on the bingo card for 2025 #RoyalVarietyPerformance”

The event, which was recorded in November at the Royal Albert Hall, but aired on Sunday, raises funds for the Royal Variety Charity. The organisation supports entertainers and their families facing hardship and poverty.

For this year’s show, Westlife performed World Of Our Own ahead of their huge tour in their matching black suits and bowties. It was followed by a special performance from the Live Aid musical ‘Just For One Day’ followed, with Sir Bob Geldof and Midge Ure making an appearance to tell the story.

Stephen Fry appeared as Lady Bracknell from The Importance of Being Earnest, while Jessie J performed an emotional version of her track I’ll Never Know Why. Elsewhere, Britain’s Got Talent winner Harry Moulding performed an trick with the help of members of the audience, while Strictly’s Johannes Radebe led a performance from musical Kinky Boots.

Impressionists followed, with impressions of political leaders including Sir Keir Starmer, Donald Trump and Boris Johnson, while Jason went on to take part in a panto section. The show concluded with a Les Misérables performance, which saw 400 performers, including Michael Ball, Matt Lucas, Katy Secombe, Bradley Jaden and Killian Donnelly, mark the show’s 40th anniversary.

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READ MORE: World’s most popular ‘so feminine and elegant’ fragrance hits rare sale weeks before Christmas



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US unemployment hits highest level since 2021 as labour market cools | Business and Economy News

The US economy gains jobs in healthcare and construction as other sectors stagnate, shrink.

The United States economy lost 41,000 jobs in October and November, and the unemployment rate has ticked up to its highest level since 2021 as the labour market cools amid ongoing economic uncertainty driven by tariffs and immigration policies.

In November, the US economy added 64,000 jobs after shedding 105,000 in October, according to a report released on Tuesday by the Department of Labor’s Bureau of Labor Statistics.

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The unemployment rate rose to 4.6 percent, up from 4.4 percent in September. Because of the government shutdown in October and November, the US government was unable to gather key data used to gauge the state of the economy, including the unemployment rate for October.

October’s job losses reflected the 162,000 federal workers who lost their posts, a result of deferred buyouts of their contracts,  which expired at the end of September.

In November, there was a loss of another 6,000 government jobs. Gains were seen in the healthcare, social assistance and construction sectors. Healthcare added 46,000 jobs – higher than the 39,000 jobs gained in the sector on average each month over the past 12 months.

Construction added 28,000, consistent with average gains over the past year. The social assistance sector added 18,000 jobs.

Transportation and warehousing lost 18,000. Manufacturing jobs are also on the decline. The sector shed 5,000 jobs in November after cutting 9,000 jobs in October following a 5,000-job loss in September.

White House economic adviser Kevin Hassett told reporters on Tuesday to expect to see more manufacturing jobs in the next six months.

His assessment was driven by growth in construction jobs and manufacturing investments, which signal job growth is on the way.

People working part time for economic reasons also rose to 5.5 million, which is up 909,000 from September.

“Today’s long-awaited jobs report confirms what we already suspected: [President Donald] Trump’s economy is stalling out and American workers are paying the price,” Alex Jacquez, chief of policy and advocacy at the economic think tank Groundwork Collaborative, said in a statement.

“Far from sparking a manufacturing renaissance, Trump’s reckless trade agenda is bleeding working-class jobs, forcing layoffs, and raising prices for businesses and consumers alike.”

The data was released after the Federal Reserve cut its benchmark interest rate by 25 basis points to 3.5-3.75 percent as labour conditions cool.

“The labour market has continued to cool gradually, … a touch more gradually than we thought,” Fed Chairman Jerome Powell said after the rate cut decision last week.

On Wall Street, markets fell slightly after the jobs report. In midday trading, the Nasdaq was down 0.4 percent, the S&P 500 was down 0.5 percent and the Dow Jones Industrial Average was 0.4 percent below its market open.

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Charlie Smyth: County Down kicker hits game-winner as New Orleans Saints beat Carolina Panthers

Charlie Smyth kicked a 47-yard field goal with six seconds left on the clock to give the New Orleans Saints a 20-17 win over division rivals the Carolina Panthers.

The former Gaelic footballer from Mayobridge in County Down was making his third career start at the Superdome and also kicked a 42-yarder as well two extra points in the win.

The Saints had trailed 17-7 in the third quarter but Smyth’s first field goal of the game brought them back within a score.

Chris Olave’s touchdown grab then gave Smyth the opportunity to tie the game with the 24-year-old duly adding the extra point to make it 17-17 with two minutes and eight seconds remaining.

The Panthers could only manage one first down on their next drive to give the Saints the ball back and the chance for a second straight win.

Rookie quarterback Tyler Shough led New Orleans into position with the Saints’ cause aided by a 15-yard unnecessary roughness penalty called on the Panthers’ Lathan Ransom.

Smyth’s kick then gave the side their fourth win of the season and second in succession after last week’s victory over the Tampa Bay Buccaneers.

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