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Father of woman killed in South Korea air crash says the tragedy is unbelievable

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By Ju-min Park and Dogyun Kim

MUAN COUNTY, South Korea (Reuters) – Jeon Je-young keeps playing the video of the plane with his daughter and another 180 people on board slamming into a wall and bursting into flames at a South Korean airport.

His daughter Mi-sook died on board. He still can’t believe it.

“When I saw the accident video, the plane seemed out of control,” said 71-year-old Jeon. “The pilots probably had no choice but to do it. My daughter, who is only in her mid-40s, ended up like this. This is unbelievable.”

Mi-sook was a warm-hearted child, he said. She brought some food and next year’s calendar to his house on Dec. 21, which became his last brief moment with her.

“She is much nicer than my son, sometimes asking me to go out for a meal,” Jeon recalled, showing his last exchanges with his daughter on his mobile phone.

The deadliest air accident ever in South Korea killed 179 people on Sunday, when an airliner belly-landed and skidded off the end of the runway, erupting in a fireball at the Muan International Airport.

Jeju Air flight 7C2216, arriving from the Thai capital Bangkok with 175 passengers and six crew on board, was seen skidding down the runway with no visible landing gear before crashing into navigation equipment and a wall in an explosion of flames and debris.

Only two people – both crew members – survived and were being treated for injuries.

GRIEF AND RAGE

Authorities called out the names of some of those killed in the crash, triggering an explosion of grief and rage among the passengers’ families gathered in the airport’s arrival area.

They screamed, wept and collapsed on the floor of the terminal where their loved ones had been due to return home.

Crime scene investigators collected saliva swaps from families to run DNA tests to identify the victims.

Jeon’s daughter had been on her way home after travelling with friends to Bangkok for the Christmas holiday. She leaves behind a devastated family, including a husband and teenaged daughter.

“The water near the airport is not deep. Here are softer fields than this cement runway. Why couldn’t the pilot land there instead?” Jeon said.

Fire officials reported that the impact of the crash had left the plane “almost completely destroyed”.

“Through collision twice and explosion, most of the passengers were thrown off the plane, though two crew members luckily survived at the tail end,” said Yeom Dong-bu, a Muan firefighter who was dispatched to the scene.

“I used to work on ambulances so I’ve seen this kind of terrible stuff like car crashes, but not on this scale,” he added.

© Reuters. Efforts are made to lift the wreckage of an aircraft lying on the ground after it went off the runway and crashed at Muan International Airport, in Muan, South Korea, December 29, 2024. REUTERS/Kim Hong-Ji

Mi-sook was identified by her fingerprints, and her family is looking for a funeral home near her town of Gwangju to transport her body there.

“She was almost home, so (she saw) no need to call the family (to leave any final message). She thought she was coming home,” Jeon said.

Stock Markets

Oil heads for weekly gains on colder weather, Chinese policy support

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By Arathy Somasekhar

HOUSTON (Reuters) -Oil prices edged higher on Friday and were on track for weekly gains as cold weather in Europe and the U.S. as well as additional economic stimulus flagged by China helped push prices in the previous session to their highest in more than two months.

futures were up 69 cents, or 0.9%, at $76.62 a barrel by 12:49 p.m. ET (1749 GMT) after settling on Thursday at the highest level since Oct. 25. U.S. West Texas Intermediate crude gained $1.11, or 1.5%, to $74.24.

Brent was on track for a 3.3% weekly gain, while WTI was set for a 5% increase.

Signs of Chinese economic fragility heightened expectations of policy measures to boost growth in the world’s top oil importer.

“China just is unceasing at this point in terms of their announcements about trying to stoke economic activity, and the market’s taking note of that,” said John Kilduff, partner at Again Capital in New York.

Worries about Chinese demand were a factor in bearish demand assumptions last year, he added.

China announced a couple of new measures to boost growth this week with a surprise move to raise wages for government workers and the announcement of a sharp increase in funding from ultra-long treasury bonds.

The additional funding is to be used to spur business investment and consumer-boosting initiatives.

Oil is likely to have gained some price support from expected increased demand for after forecasts for colder weather in some regions.

“Oil demand is likely benefiting from cold temperatures across Europe and the U.S.,” said UBS analyst Giovanni Staunovo.

Also supporting prices, stockpiles dropped by 1.2 million barrels to 415.6 million barrels last week, EIA data showed.

Meanwhile U.S. gasoline and distillate inventories jumped as refineries ramped up output, though fuel demand hit a two-year low.

© Reuters. FILE PHOTO: A view of an oil pumpjack in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024.  REUTERS/Todd Korol/File photo

Holding back prices however, the dollar was on track for its best week in about two months, even as it dipped on Friday, on expectations that the U.S. economy will continue to outperform its peers globally this year and that U.S. interest rates will stay relatively higher.

Higher rates increase borrowing costs, which can cut economic growth and demand for oil.

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QNB Corp director Kenneth Brown buys shares for $3,968

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Following this purchase, Brown holds a total of 150,714 shares in QNB Corp. The company trades at a P/E ratio of 12.6 and has maintained dividend payments for 28 consecutive years. InvestingPro subscribers can access 6 additional key insights about QNBC’s valuation and growth prospects. The company trades at a P/E ratio of 12.6 and has maintained dividend payments for 28 consecutive years. InvestingPro subscribers can access 6 additional key insights about QNBC’s valuation and growth prospects. Following this purchase, Brown holds a total of 150,714 shares in QNB Corp.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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US data center electricity and water use to increase significantly by 2028: report

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Investing.com — U.S. data centers are expected to significantly increase their electricity and water usage by 2028, driven by the rising adoption of AI technology, according to a U.S. Department of Energy report.

The report forecasts data center electricity demand to rise by 13-27% annually, reaching 325-580 terawatt-hours (TWh), or 6.7-12% of total U.S. demand, by 2028.

This marks a sharp increase from 176 TWh in 2023, with AI servers accounting for much of the growth. demand from AI servers alone is expected to grow 4-8 times, surpassing conventional servers by 2028.

Water usage, primarily for cooling, is projected to increase even faster, by 17-33% annually, reaching 145-275 billion liters by 2028. The study highlights a shift towards water-cooled chillers to accommodate the higher energy density of AI-driven data centers.

The DOE study, conducted by the Lawrence Berkeley National Laboratory, underscores the rapid transformation in data center infrastructure, with substantial implications for energy and resource planning in the U.S.

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