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American Airlines flight attendants to picket as frustrations grow

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American Airlines flight attendants to picket as frustrations grow
Can American Airlines turn itself around?

American Airlines flight attendants’ union plans to hold a picket outside the company’s headquarters on Thursday pushing for new leadership at the carrier, which has lagged rivals Delta Air Lines and United Airlines in profitability and punctuality.

Ahead of the picket on Wednesday night, American CEO Robert Isom sought to calm frustrated employees and listed improvements the carrier expects this year, including a jump in profits as well as improvements to schedules and new cabins.

“We look forward to working with all of you to make it happen,” Isom said in a video message filmed at the airline’s Fort Worth, Texas headquarters.

The picket comes days after the Association of Professional Flight Attendants, which represents American’s 28,000 cabin crew members, issued a vote of no confidence in Isom, which the union said was its first such move. The chief executive was also criticized by the pilots’ union, which sought a meeting with the airline’s board, of which Isom is a member, to discuss the problems. Unions for pilots, flight attendants and mechanics have all recently said the company needs to do better to improve reliability and financial results.

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The protest is an unusual move outside of contract negotiations.

The signals from the labor groups have increased pressure on Isom, who took the helm nearly four years ago, and American’s leadership team, which is investing in cabin upgrades, bigger airport lounges and other on-board products.

Last month, American forecast stronger revenue and profits for 2026 and said it expects to report adjusted earnings per share of as much as $2.70, up from an adjusted 36 cents last year.

American is in the middle of a revamp that it hopes will help revive profits with more modern airplane cabins that command higher fares, which is especially important as coach-class fares have dropped. It has also built bigger lounges and added free Wi-Fi for customers.

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For the first 11 months of the year, American ranked eighth in punctuality with a 73.7% on-time rate, according to the Department of Transportation. It is now adjusting its schedules, including at its massive Dallas-Fort Worth International hub where it is spreading out flights more throughout the day.

But it has a long way to go. In 2025, American posted net income of $111 million compared with Delta’s $5 billion and more than $3.3 billion from United. The lower profits meant a smaller profit-sharing pool for employees, which staff members have complained about.

In a town hall with employees last month, Isom noted that American’s pilots, flight attendants and other groups have recently sealed new labor contracts that have meant higher wages compared with their counterparts at rival United. But he said he was disappointed by the profit-sharing.

The flight attendants have also said they were frustrated with American’s struggles to recover from major winter storms, which left some crew members without a place to sleep.

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“This airline is headed down a path that puts our careers at risk,” the flight attendants’ union said in a notice about the picket. “Now is the time for Flight Attendants to stand together and show up in protest. American Airlines needs real accountability, decisive action, and leadership that will put this airline back on a competitive path.”

Isom is also trying not only to win support of frontline crews but also to rally higher-ups. Last week, at Globe Life Field in Arlington, Texas, Isom spoke to about 6,000 managers about the years ahead as the airline turns 100.

“We’ve filled an entire Major League Baseball field with this proud and talented team. The best in the industry,” he said, according to a transcript of his remarks, which were seen by CNBC. “It’s incumbent on all of us to build on our progress … and to ensure that we grow profitability so American is around for the next 100 years.”

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Turning Experience Into Impact in the Law

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Turning Experience Into Impact in the Law

Bracken McKey has spent his career turning responsibility into results. Not through bold claims or flashy moves. But through steady work, clear thinking, and ideas that could hold up under pressure.

Over more than 25 years in the legal field, McKey helped shape how serious cases were handled in Washington County. He took on leadership roles. He built systems. And he carried those lessons into private practice after retiring from public service.

“I never thought in terms of titles,” McKey says. “I thought in terms of what needed to be built and who needed to be supported.”

That mindset runs through his story.

Early Years That Shaped His Approach

McKey was raised in Pendleton, Oregon.
It is a small community with strong ties and clear expectations.

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He grew up water skiing, snow skiing, and spending time with family. Those early years taught him balance and discipline.

“When you grow up in a place like Pendleton, people know you,” he says. “You learn early that your reputation matters.”

That lesson would later carry weight in his legal career.

Education and Learning to Lead Early

McKey attended college in Walla Walla, Washington.
He then attended Willamette University College of Law on an academic scholarship.

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Law school was not just about grades for him. It was about structure and leadership.

During his final year, he was elected 3L class president. The role required coordination, listening, and problem-solving.

“It taught me how to lead without ego,” he says. “You don’t win arguments. You help people move forward.”

In 1998, he passed the Oregon State Bar and began his legal career.

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Building a Career in the Washington County DA’s Office

McKey joined the Washington County District Attorney’s Office as a Deputy District Attorney.
The work was demanding from the start.

He handled serious cases early in his career. Over time, he developed systems for preparation and case management that helped him stay effective under pressure.

“You learn quickly that big cases are built on small details,” he says. “You can’t skip steps.”

In 2007, he was promoted to Senior Deputy District Attorney. By then, he was handling some of Oregon’s most complex and high-profile cases.

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Big Ideas in Public Service

As his responsibilities grew, McKey began thinking beyond individual cases.

He focused on collaboration with other agencies and industries. That work led to measurable outcomes and national recognition.

In 2009, he received the Recording Industry Association of America Gold Record Law Enforcement Award. The honor reflected his work on intellectual property crime cases that required cross-sector coordination.

Later, in 2014, he was awarded the Oregon Construction Industry Crime Prevention Law Enforcement Partner Award.

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“These cases weren’t traditional,” McKey says. “They required new ways of thinking and better partnerships.”

Those efforts showed that carefully structured ideas could improve outcomes across an industry.

Leadership as Chief Deputy District Attorney

In 2019, McKey became Chief Deputy District Attorney for Washington County.

The role shifted his focus again. Now, he was responsible for guiding teams, shaping policy, and maintaining consistency across the office.

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“My job changed from solving problems myself to helping others solve them,” he says.

He emphasized clear standards, preparation, and accountability. His leadership style was practical, not performative.

McKey held the position until his retirement in 2024.

Staying Grounded Outside of Work

Despite the demands of public service, McKey remained focused on family.

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He stayed involved in his sons’ baseball teams and continued to enjoy water skiing and snow skiing.

“Those moments kept me grounded,” he says. “They reminded me why the work mattered.”

That balance helped him sustain a long and demanding career.

Applying Experience at McKey Law

After retiring from the DA’s Office, Bracken McKey transitioned into private practice.
He is now the owner and attorney at McKey Law in Washington County.

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The move allowed him to bring decades of experience into a new setting.

“I’ve seen how decisions play out over time,” he says. “That perspective helps clients understand the road ahead.”

His approach remains measured and informed by real-world outcomes.

A Career Defined by Execution

Bracken McKey’s career is not about a single moment.
It is about execution.

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He took ideas seriously. He tested them in real cases. And he refined them through experience.

“Good ideas only matter if they work,” he says. “The law has a way of testing that.”

From Pendleton to public service to private practice, McKey’s impact has come from building systems that last.

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Thirukumaran Sivasubramaniam: Turning Ideas Into Action

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Thirukumaran Sivasubramaniam: Turning Ideas Into Action

Big ideas do not always arrive with attention or applause. Often, they are shaped quietly through experience, discipline, and persistence.

That is how Thirukumaran Sivasubramaniam approaches his career. As Co-Founder and COO of Fintex Inc. in Toronto, he is known for turning complex ideas into working systems. His leadership style is practical, steady, and grounded in lived experience. It is a style shaped long before his professional career began.

Early Life and a Defining Family Influence

Thirukumaran’s early years were marked by loss and responsibility. His father passed away when he was young, leaving his mother to raise four children on her own. The family faced significant challenges, but his mother remained focused on one priority.

“She never let us lose sight of what mattered,” he says. “Education was non-negotiable.”

Watching his mother hold the family together left a lasting impression. It shaped how he thinks about leadership today. Responsibility meant showing up every day, even when conditions were not ideal.

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“She didn’t wait for things to get easier,” he says. “She worked with what she had.”

Immigration, Adaptation, and the Value of Education

At the age of nine, Thirukumaran immigrated to Canada with his family. The transition was difficult. They moved frequently and relied on social assistance as they rebuilt their lives. Stability came slowly.

“We were starting from scratch,” he says. “Everything felt temporary for a while.”

He attended several schools across Toronto, including Milliken Mills Junior School, John Buchan Middle School, Don Valley Middle School, Georges Vanier Secondary School, and Woburn Collegiate Institute. Each move required adjustment.

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“You learn fast how to read a room,” he says. “You learn how to adapt without complaining.”

Education remained the constant. His mother’s belief in learning as a pathway forward became his own. That mindset stayed with him as he entered adulthood.

Early Career Lessons: Ideas Need Follow-Through

As Thirukumaran entered the workforce, he became interested in how ideas become outcomes. He noticed that many plans failed not because they were bad, but because execution was unclear.

“Good ideas don’t survive without structure,” he says. “Someone has to make them real.”

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He gravitated toward roles that required organization, accountability, and problem-solving. Over time, he developed a reputation for being dependable and detail-oriented. He learned how systems either support people or slow them down.

That thinking laid the groundwork for what came next.

Building Fintex Inc. From the Ground Up

Today, Thirukumaran serves as Co-Founder and Chief Operating Officer of Fintex Inc. His role focuses on operations and execution. He works to ensure that ideas are supported by clear processes and realistic timelines.

“My focus is simple,” he explains. “Remove friction so teams can do their work.”

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Rather than chasing visibility, he concentrates on building reliable systems. That includes defining roles, improving workflows, and aligning teams around shared goals.

“When operations work, people don’t notice,” he says. “They just see progress.”

This approach has helped Fintex grow in a controlled and sustainable way, turning concepts into repeatable outcomes.

A Leadership Style Built on Consistency

Thirukumaran describes leadership as a long-term commitment. He believes people perform best when expectations are clear and leaders are predictable.

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“Consistency builds trust,” he says. “Not intensity.”

His leadership style reflects what he learned early in life. Calm decision-making. Shared responsibility. A focus on what can be controlled.

“Panic doesn’t fix problems,” he says. “Planning does.”

He applies this mindset when evaluating new ideas. Innovation matters, but only when it can be supported by strong execution.

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Mentorship, Giving Back, and Practical Impact

Mentorship plays a central role in Thirukumaran’s life. He has helped many newcomers to Canada secure their first jobs, guiding them through resumes, interviews, and early career decisions.

“That first job changes how you see yourself,” he says. “It opens doors.”

He also organizes annual fundraising efforts with family and friends, raising close to $5,000 each year to support individuals and families facing hardship. For over a decade, he has helped collect and ship clothing to communities lacking basic necessities. In addition, he volunteers as a judge for Youth Leadership Programs in technology-focused categories.

“Giving back keeps things in perspective,” he says.

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Discipline Beyond the Office

Outside of work, Thirukumaran stays active through sports such as basketball, volleyball, tennis, badminton, and baseball. He enjoys watching games and supporting his children at their sports events. Each morning starts with a walk, regardless of the weather.

“It clears my head,” he says. “It’s how I reset.”

Turning Ideas Into a Career

Thirukumaran Sivasubramaniam’s career reflects a simple truth. Big ideas only matter when they are carried through. From early adversity to operational leadership, his path shows how discipline, consistency, and structure can turn vision into lasting results.

“Nothing happens overnight,” he says. “You build it step by step.”

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That philosophy continues to guide his work today.

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New VIP suites and extra seating planned for ACC Liverpool

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Plans for landmark waterfront venue include ‘super suite’

ACC Liverpool

ACC Liverpool(Image: Liverpool Echo)

A new “super suite” is being created at Liverpool’s arena and convention centre on the waterfront. More than 300 new seats could be added to the existing bowl at ACC Liverpool as part of an application to upgrade the venue.

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Coinciding with the 2008 European Capital of Culture, the arena and convention centre opened its doors 18 years ago and has gone on to host major events in the last two decades. Since 2022 and including this year, it has been home to the Labour Party conference.

Now, changes could be made to increase the capacity inside the bowl within the M&S Bank Arena and provide new VIP hospitality. A premises licence application has been lodged with Liverpool Council for changes to the existing terms.

The arena has an 11,000 capacity and was chosen to host the Eurovision Song Contest in 2023 on behalf of Ukraine when the UK stepped into support. The convention centre holds around 1,300 people in the main hall, which has staged the main speeches when Labour has gathered its delegates in the city.

According to the documents made public by the local authority, hospitality areas are to be expanded to both sides of the arena, including the creation of a new “super suite.” This will involve the conversion of an existing bar into a premium VIP hospitality box, the renovation of a previously unused void space into a back of house bar and cloakroom and remodelling of washroom areas on both sides to increase the number of toilet cubicles available.

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Within the arena bowl, proposed alterations include the installation of 372 additional spectator seats through the reconfiguration of existing internal walkways, reconfiguration of Accessible Viewing Bays, including additional new bays added to the D End of the arena. Existing storage rooms are proposed to be converted and upgraded into multi use spaces capable of flexing between storage use and operational bar areas for events.

In October last year, two further premium suites were installed at the venue as part of a fit out to provide accomodation for 12 guests. There are no changes proposed to licensable activity or sale of alcohol.

An updated licence was issued to ACC Liverpool allowing performances up to 11.59pm daily.

This also includes the sale of alcohol during the same period. Representations can be made on the plans for the arena up until March 6 via the Liverpool Council website.

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Gabriela Berrospi hosts gala at Mar-a-Lago on Latino prosperity and empowerment

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Gabriela Berrospi hosts gala at Mar-a-Lago on Latino prosperity and empowerment

Latino Wall Street is the life mission of Gabriela Berrospi, who founded the financial literacy organization with the goal of eradicating poverty and boosting generational wealth in the Latino community.

She and the organization are on a meteoric rise – Berrospi is an in-demand commentator on financial matters in the Latino community, a member of the Forbes Finance Council and has graced multiple magazine covers recently. With a television show on the New York Stock Exchange in partnership with FinTech TV, Berrospi is emerging as a powerful economic voice in the Latino community.

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Berrospi and her husband and business partner Tony Delgado hosted the inaugural Hispanic Prosperity Gala at Mar-a-Lago on Feb. 10, that featured a star-studded lineup of political and business leaders, musical entertainment and a speech by Argentine President Javier Milei, who received the Economic Freedom Award while praising the MAGA movement and exulting in the recently signed U.S.-Argentine trade deal.

US, ARGENTINA STRIKE SWEEPING TRADE DEAL CUTTING TARIFFS, OPENING MARKETS TO US EXPORTS

Gabriela Berrospi

From left: Gabriela Berrospi, Tikki Nicozisis and Philip Nicozisis speak during the Hispanic Prosperity Gala – Latino Wall Street at Mar-a-Lago on Feb. 10, 2026 in Palm Beach, Florida. (Jason Koerner/Getty Images for Latino Wall Street)

The Hispanic Prosperity Gala displayed the undeniable power of Latinos in the Trump administration and a growing transnational effort to unite right-wing movements across the Americas. 

Berrospi said her dream was to always host an event or gala to showcase success stories from different industries in the Latino community, including athletes, Latin Grammy Award-winning musicians, and business and finance icons.

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“I always wanted to show the world who we really are, what we’re capable of,” she said. “A lot of the media coverage about Latinos, it’s like, ‘Oh, they are undocumented, oh they don’t have money, oh poor thing, oh this or that,’ and it’s not very empowering. My movement, Latino Wall Street, is all about empowering and elevating Latinos.”

US ECONOMY ADDED 130K JOBS IN JANUARY, DELAYED REPORT SHOWS

Bob Unanue

Bob Unanue speaks during the Hispanic Prosperity Gala – Latino Wall Street at Mar-a-Lago on Feb. 10, 2026, in Palm Beach, Florida. (Jason Koerner/Getty Images for Latino Wall Street)

Berrospi cites Berkshire Hathaway’s Warren Buffett and Bridgewater Associates’ Ray Dalio as the main influences on her investing philosophy.

“To eradicate poverty, we basically follow the most conservative way of investing,” she said. “The way I’ve invested my money, I’ve learned that it’s not about getting rich quick, it’s about having patience, it’s all about investing in the main indexes that are proven to work no matter what happens, what pandemic, what world war, what terrorist attack. So there’s proven strategies, right? The Warren Buffett blueprint that, no matter what happens, if you stick to it, you know it’ll be fine. 

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Tony Delgado and Gabriela Berrospi speak during the Hispanic Prosperity Gala – Latino Wall Street at Mar-a-Lago on Feb. 10, 2026, in Palm Beach, Florida. (Jason Koerner/Getty Images for Latino Wall Street / Getty Images)

AMERICA HEADED FOR ‘ECONOMIC HEART ATTACK’ ON GOVERNMENT DEBT, SPENDING WARNS BILLIONAIRE

“And in fact, when something bad happens, it’s only an opportunity to add to your positions. So that same exact knowledge he gave me in his Omaha conferences that I’ve had the privilege to attend and learn from him in person, that’s exactly the blueprint we follow. We invest in commodities, S&P 500, extremely conservative strategies that are proven to work.”

Berrospi faults the culture of conspicuous consumption for making it difficult to educate Americans about financial literacy, prosperity and sound investments, a trend that has only escalated with the potential for social media to pitch get-rich-quick investment schemes.

Hispanic Prosperity Gala entertainment

Maffio and Nacho perform during the Hispanic Prosperity Gala – Latino Wall Street at Mar-a-Lago on Feb. 10, 2026, in Palm Beach, Florida. (Jason Koerner/Getty Images for Latino Wall Street)

“I think we live in a culture that’s all about spending money. It’s all about showing off. I mean, and I say this confidently because I come from a different culture, right. In Peru, we don’t have that type of culture: let’s spend money, let’s show off. It’s very different. It’s more family oriented, more conservative.”

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She also emphasizes that the American economic dream, while real and attainable, comes with great peril in conjunction with ignoring financial literacy.

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“America is the wealthiest, but at the same time, it’s also the most in debt,” Berrospi said. “And, I think there’s something there to address and that’s being responsible. And always making sure that a part of your income is going towards your future, toward your retirement, toward your account for your kid. That is so important and so basic, and you can make that on autopilot. Then, once I learned that from the top mentors in the world, such as Warren Buffett… it’s actually pretty simple. You just have to actually do it, automate it. And that’s it. And it works. It works because we’re not doing random stuff. We’re doing what’s proven to work for over 100 years.”

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Hermes beats sales expectations, sees positive signs in China

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Hermes beats sales expectations, sees positive signs in China
Paris: Hermes, whose handbags sell for $10,000 and more, on Thursday reported stronger than expected fourth-quarter revenue growth, lifted by strong sales in the United States and Japan.

Thanks to its ultra-wealthy clients and large order backlog, the group has weathered a luxury sector slowdown better than most of its rivals, consistently increasing revenue while sales at other luxury groups, like LVMH and Kering , have been under pressure.

“The group is going into 2026 with confidence,” said CEO Axel Dumas, adding that this year’s price increases would be around 5-6%, down from a 6-7% rate in 2025, attributing the slower pace to currency shifts.

Chiara Battistini, luxury equity analyst at J.P. Morgan, said the price increases Hermes imposes on its customers are a key question for the company’s growth outlook.

Many of its rivals have put the brakes on price rises due to falling sales. Gucci owner Kering’s CEO earlier this week said a price hike “bonanza” post-pandemic had contributed to the company’s revenue slide.

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Sales of products, including Birkin and Kelly bags, silk scarves and perfume, grew by 9.8% in the fourth quarter in currency-adjusted terms, compared to an analyst consensus compiled by Visible Alpha of 8.4% growth.
Sales in the Americas region, mainly the United States, rose by 12.1%, beating expectations of around 9%, while sales in Asia excluding Japan – a region mainly driven by China – grew 8%.POSITIVE SIGNS IN CHINA

In a call with analysts, Dumas said he was seeing positive signs in China, a major luxury market that has slowed significantly in the past few years due to the impact of a property crash on the country’s economy.

“I do not see the situation deteriorating,” he said. “There are positive moves, in particular the way they are managing the property crisis.”

Revenues in Hermes’ leather division, which accounts for most of its profits, grew by 14.6% organically.

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Man Utd issues statement as Sir Jim Ratcliffe apologises for immigration remarks

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Ineos chief apologised for claiming the UK has been “colonised by immigrants” as the club defended its inclusive values and the FA said it would examine the comments

LONDON, ENGLAND - MAY 16: Jim Ratcliffe, Co-owner of Manchester United looks on prior to the Premier League match between Chelsea FC and Manchester United FC at Stamford Bridge on May 16, 2025 in London, England. (Photo by Justin Setterfield/Getty Images)

Manchester United owner Jim Ratcliffe has been forced to apologise after controversial comments on immigration(Image: Justin Setterfield, Getty Images)

Manchester United has emphasised its commitment to being “inclusive and welcoming” after co-owner Sir Jim Ratcliffe’s widely-panned statement that the UK has been “colonised by immigrants”.

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Ineos founder Mr Ratcliffe expressed regret if his comments, made during a Sky News interview on Wednesday, had “offended some people”. His remarks drew sharp criticism from Prime Minister Sir Keir Starmer and Greater Manchester Mayor Andy Burnham.

The Press Association understands that the Football Association will scrutinise Mr Ratcliffe’s statements to determine if they have tarnished the reputation of the sport. On Thursday afternoon, the Premier League club issued a statement affirming their commitment to inclusivity.

The statement read: “Manchester United prides itself on being an inclusive and welcoming club.

“Our diverse group of players, staff and global community of supporters, reflect the history and heritage of Manchester; a city that anyone can call home.

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“Since launching All Red All Equal in 2016, we have embedded equality, diversity and inclusion into everything we do.

“We remain deeply committed to the principles and spirit of that campaign. They are reflected in our policies but also in our culture and are reinforced by our holding of the Premier League’s Advanced Equality, Diversity and Inclusion Standard.”

United highlighted that they have organised events this season to support “mental health, LGBTQ+ inclusion, No Room for Racism, violence against women and girls and homophobic chanting”.

The club stated: “In the weeks and months ahead, we will be supporting further initiatives in these areas.”

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Earlier on Thursday, Mr Ratcliffe apologised for his choice of words, saying in a statement: “I am sorry that my choice of language has offended some people in the UK and Europe and caused concern, but it is important to raise the issue of controlled and well-managed immigration that supports economic growth.

“My comments were made while answering questions about UK policy at the European Industry Summit in Antwerp, where I was discussing the importance of economic growth, jobs, skills and manufacturing in the UK.

“My intention was to stress that governments must manage migration alongside investment in skills, industry and jobs so that long-term prosperity is shared by everyone. It is critical that we maintain an open debate on the challenges facing the UK.”

Speaking to Sky News on Wednesday, Mr Ratcliffe said: “You can’t have an economy with nine million people on benefits and huge levels of immigrants coming in.

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“I mean, the UK is being colonised. It’s costing too much money. The UK has been colonised by immigrants.”

It is understood by PA that the FA will review the comments to determine if they violated its regulations.

If the FA decides to launch a formal investigation, the focus may be on FA Rule E3.1, which pertains to general behaviour. As a co-owner of the club, Ratcliffe is subject to FA rules as a participant.

Football anti-discrimination charity Kick It Out has labelled Mr Ratcliffe’s remarks as “disgraceful and deeply divisive at a time when football does so much to bring communities together”.

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Burnham, who is collaborating with Mr Ratcliffe and United on the revitalisation of the Old Trafford area and stadium, commented: “These comments go against everything for which Manchester has traditionally stood: a place where people of all races and faiths have pulled together over centuries to build our city and our institutions, including Manchester United FC.”

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Mortgage rates fall to 6.09%: Freddie Mac

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Mortgage rates fall to 6.09%: Freddie Mac

Mortgage rates inched lower this week, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage slipped to 6.09% from last week’s reading of 6.11%. 

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The average rate on a 30-year loan was 6.87% a year ago.

A woman hammers an open house signs into the ground in front of a home in Oregon.

The average rate on the 30-year fixed mortgage fell to 6.09% this week, Freddie Mac said. (Ty Wright/Bloomberg via Getty Images)

HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE

“Bolstered by strong economic growth, a solid labor market and mortgage rates at three-year lows, housing affordability continues to measurably improve,” said Sam Khater, Freddie Mac’s chief economist. “These factors have caught the attention of many prospective homebuyers, driving purchase application activity higher than a year ago.”

The average rate on a 15-year fixed mortgage fell to 5.44% from last week’s reading of 5.5%.

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Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.1% as of Thursday afternoon.

“Mortgage rates have lingered in the low-6% range for weeks, letting buyers and sellers who were already prepared take action, but likely not low enough to entice the next wave,” Realtor.com Economist Jiayi Xu. “While active listings continued to rise year-over-year in January, inventory growth has slowed for the ninth consecutive month, leaving total supply still about 17.2% below pre-pandemic levels.”

THE MARKETS WHERE HOMEBUYERS MAY FINALLY GET SOME RELIEF IN 2026, REALTOR.COM SAYS

“In short, while the market remains stable, a larger drop in rates will be needed to attract new buyers and sellers and truly reignite the housing market,” Xu added.

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People exit an open house at a home for sale.

The average rate on the 15-year mortgage fell to 5.44% this week. (David Paul Morris/Bloomberg via Getty Images)

HOMEBUILDERS REPORTEDLY DEVELOPING ‘TRUMP HOMES’ PROGRAM TO IMPROVE AFFORDABILITY

U.S. existing home sales tumbled to the lowest level in more than two years in January as falling inventory raised house prices.

Home sales dropped 8.4% last month to a seasonally adjusted annual rate of 3.91 million units, the lowest level since December 2023, the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home resales declining to a rate of 4.18 million units.

Last month’s sales likely reflected contracts that were signed in November and December, and would not have been impacted by winter storms that slammed large parts of the country in January. Home sales decreased 4.4% on a year-over-year basis.

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Reuters contributed to this report.

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'Tens of thousands' affected by law firm collapse

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'Tens of thousands' affected by law firm collapse

The Solicitors Regulation Authority say an investigation into PM Law’s collapse is ongoing.

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McDonald’s value meals bring back diners as US sales jump

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McDonald’s value meals bring back diners as US sales jump

Budget-conscious Americans are returning to McDonald’s as the fast-food giant doubles down on value meals, discounted bundles and limited-time promotions aimed at stretching diners’ dollars.

The strategy appears to be working as U.S. sales rose 6.8% in the fourth quarter – the biggest jump in about two years – and lower-priced offers and aggressive promotions drove traffic back into restaurants. Analysts had expected a smaller 4.9% gain.

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McDonald’s CEO Chris Kempczinski said there is growing evidence the company’s value push is working, particularly among lower-income consumers who have been most affected by inflation

mcdonald's in san francisco

A McDonald’s restaurant in San Francisco on July 29, 2024. (David Paul Morris/Bloomberg via Getty Images)

Holiday promotions also played a role in pulling customers in. Last December, McDonald’s launched a Grinch-themed meal that the company said delivered “the highest single sales day in history.” 

MCDONALD’S OFFERS FREE MCNUGGET CAVIAR KITS FOR VALENTINE’S DAY CELEBRATION

The company revived its Monopoly promotion in October after nearly a decade and rolled out value offers starting at $5 in November.

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Industry analysts say consistency will be key as consumers remain selective about where they spend.

McDonald’s strategy is notable given how many U.S. restaurants in the U.S. are struggling to maintain foot traffic. Across the industry, lower-priced chains have generally fared better than higher-priced competitors as consumers trade down.

McDonald's

McDonald’s U.S. sales rose 6.8% in the fourth quarter, the biggest jump in about two years. (Mario Tama/Getty Images)

Taco Bell posted a 7% increase in same-store sales in the latest quarter and KFC reported 3% growth, parent company Yum Brands said last week. Meanwhile, higher-priced Chipotle Mexican Grill reported a 1.7% decline in sales earlier this month.

The renewed customer momentum helped power stronger-than-expected financial results, underscoring how discount-driven traffic can translate into profits.

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An exterior view of a McDonald's fast food restaurant.

Exterior view of a McDonald’s restaurant on May 24, 2024. (Paul Weaver/SOPA Images/LightRocket)

The traffic rebound translated into stronger financial results. McDonald’s global comparable sales rose 5.7% in the fourth quarter, topping expectations, while adjusted earnings beat Wall Street estimates as revenue climbed to more than $7 billion. International markets also contributed to growth, with steady demand in Britain, Germany and Australia.

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Looking ahead, McDonald’s plans to build on its affordability messaging while expanding into beverages such as cold coffees, crafted sodas and energy-style drinks — offerings designed to drive additional visits, particularly among younger consumers. A new McCafe-branded drink lineup is set to roll out in the U.S. and select international markets this year after a 500-store test exceeded expectations.

Reuters contributed to this report. 

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Salmon exports remain high but Scotch whisky falls

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Salmon exports remain high but Scotch whisky falls

Scottish salmon exports increased in tonnage by 9%, while the volume of Scotch whisky exports dropped by 4.3%.

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