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Heathrow says it’s fully operational after blackout shutdown

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London’s Heathrow airport said it’s open and fully operational following an unprecedented daylong blackout that brought travel to a standstill for hundreds of thousands of passengers at Europe’s busiest airport.

British Airways, the biggest single operator at the airport, said it expects to run about 85% of its schedule on Saturday. Power supplies have been restored to all customers connected to National Grid UK’s North Hyde substation, including Heathrow, allowing operations to resume at the airport, the utility company said in a post on X.

“We have hundreds of additional colleagues on hand in our terminals and we have added flights to today’s schedule to facilitate an extra 10,000 passengers traveling through the airport,” a Heathrow spokesperson said in an emailed statement on Saturday. 

Heathrow advised passengers traveling on Saturday to check with their airline for the latest information regarding their flights.

The reopening followed a day of mass chaos for travelers as hundreds of flights were diverted or canceled. The UK Metropolitan Police said earlier that its counter-terrorism command is leading a probe into the fire at a nearby power substation that led to the outage, though there’s no indication at this point of foul play. 

“We are deeply sorry for the disruption caused and are continuing to work closely with the Government, Heathrow and the police to understand the cause of the incident,” National Grid UK said. “We are now implementing measures to help further improve the resilience levels of our network.”

The closure forced more than 1,300 flights to be canceled or rerouted on Friday alone. Heathrow, home to British Airways, is a major hub for transatlantic travel, as well as connections to the Middle East and Asia. While nearby airports such as London Gatwick have accepted some diverted flights, others are being sent as far as Frankfurt.

“This incident will have a substantial impact on our airline and customers for many days to come, with disruption to journeys expected over the coming days,” said British Airways chief Sean Doyle. The airline said in a statement late Friday that its full Saturday schedule includes nearly 600 departures and arrivals and it hoped to operate as many of those flights as possible.

The financial fallout from the day-long disruption may reach reach between $80 million and $100 million, factoring in costs related to accommodation, food and transportation, as well as broader operational impacts that include rerouting, schedule disruptions and aircraft repositioning, said Ronan Murphy, director at Alton Aviation Consultancy

An outage of this scale is unprecedented for the airfield. About 677 flights will be affected at British Airways alone, according to ch-Aviation, which compiles industry data. That’s followed by 62 flights for Virgin Atlantic Airways Ltd. and 42 flights for Deutsche Lufthansa AG.  

IAG SA, the parent of British Airways, fell as much as 4.3% in London, bringing the decline this year to 5.5%. The shares almost doubled in 2024 as the company improved services and paid down debt.

The outage raises questions about the robustness of Heathrow’s infrastructure, and why an airport of such scale and importance lacked the redundancy systems needed to keep operations going. At the same time, an operation the size of Heathrow has considerable energy requirements, complicating the availability of a reserve source to meet its needs.

Energy Secretary Ed Miliband told LBC radio on Friday that the “catastrophic” fire had taken out a backup generator for Heathrow, as well as the electricity substation that serves it. Prime Minister Keir Starmer said he’d been “receiving regular updates” and was in close contact with partners on the ground. 

The police said that “while there is currently no indication of foul play we retain an open mind at this time.” Assessments were under way to determine whether circumstances were suspicious, according to an official with knowledge of the matter. Police involvement will be peripheral unless there’s reason to mount an investigation, the person said.

Heathrow is currently making a pitch to add a third runway, a long-running ambition to expand traffic and remain competitive with global hubs like Dubai or Istanbul. Its recently realigned ownership now includes French private equity firm Ardian SAS, Qatar Investment Authority and Saudi Arabia’s Public Investment Fund as its top investors.

The airport closed at around 1:30 a.m. on Friday. The blaze erupted at an electrical substation in Hayes, north of Heathrow, just before midnight, causing a local power outage that cut service to thousands of nearby residents and local businesses, and caused some evacuations. 

By mid afternoon Friday, National Grid said it had restored the ability to resupply the parts of Heathrow connected to the damaged substation. 

Sue Thomas, who flew in to Heathrow Thursday evening from Canada to visit family in Penzance in Cornwall, said power went out at her Premier Inn hotel room near the airport at 10:30 p.m.

“Everything went black,” she said in an interview at Paddington Station on Friday where she waited for a train. “The power went out, the water wasn’t running, no one was allowed in or out.”

Staff at the hotel couldn’t even allocate rooms because everything is automated, the lifts weren’t working and the hotel corridors were in total darkness, she said.

Previous Closures

Heathrow, which is also home to Virgin Atlantic, handles some 1,400 flights and 200,000 passengers every day, and about 40 aircraft take off every hour at peak times on average.

Ryanair Holdings Plc, the Irish budget carrier, said it would add four flights on Friday and four on Saturday between its London Stansted hub and Dublin to accommodate stranded travelers. EasyJet Plc said it’s also putting larger aircraft on key routes to provide more seats. 

The last major crisis for Heathrow occurred in August 2023 when the UK’s airspace shut down because of a technical issue with the air traffic control system. The outage was fixed after a few hours but led to many flight delays and cancellations at Heathrow and other airports, creating chaos for passengers.

Hundreds of flights were canceled at Heathrow on July 10, 2006, after authorities in London uncovered a plot to detonate liquid explosives on transatlantic flights. Still, the airport remained open and flying resumed that evening.

On Friday, about 120 planes already en-route when the airport closed were diverting or sent back to their origin, including flights operated by Qantas Airways Ltd., Delta Air Lines Inc. and American Airlines, according to tracking service Flightradar24.

Carriers including Emirates, the world’s largest international airline with more than a dozen daily flights into Heathrow, said they’ve canceled some connections. “We’re monitoring the situation closely and will update our customers as the situation develops,” Emirates said. 

Virgin said that all incoming and outbound traffic has been canceled until 9:30 p.m., and that the rest of the schedule is under review. Some airlines began rerouting incoming traffic to other airports, including Abu Dhabi carrier Etihad Airways, which diverted a Heathrow-bound plane to Frankfurt. 

Gatwick Airport said its service is operating normally, and that it’s taken seven flights so far that were diverted from Heathrow.

Even once service resumes, there’ll be a significant ripple-on effect that may be felt for days, with aircraft and crew out of position. Airports sometimes experience disruptions because of weather or personnel strikes, though a full-day complete shutdown is extremely rare. 

In early 2023, Frankfurt airport — among the busiest in Europe — suffered serious disruptions following damage to broadband cables at a rail location in the northern part of the German city. UK airports have experienced outages in past years because of air-traffic control systems, though these were often just a matter of hours. 

This time, passengers are facing significant disruptions. Nick Stone, an investor from Los Angeles, was boarding a Eurostar train to Paris at St. Pancras Station in London on Friday morning. His canceled flight will cause him to miss his daughter’s 12th birthday, he said. 

Eurostar said it’s adding extra capacity, including one additional service from London to Paris and one from Paris to London to provide alternative travel options for stranded passengers.

Sabrina and Raik Becker, a German couple on holiday in London, were scheduled to head back to Hanover on a 1.5 hour flight from Heathrow on Friday. Instead, they’re now taking the Eurostar to Brussels and then onward to Cologne before getting to their destination, a journey that will take more than 12 hours and cost an extra €1,000 ($1,083).

They said they don’t know if they’ll get their money back.

This story was originally featured on Fortune.com



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CEO role increasingly shunned by top candidates despite the pay

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The housing market’s spring selling season has arrived. Here’s the best time to list your home

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  • As the housing market reaches its traditional selling season, the best time to list can depend on location. While house-hunting activity surges around Memorial Day, the highest premium can be had in March, June, or even November in some cities.

While spring is typically the season when prospective buyers go house hunting, the time a seller lists a home could pose a significant financial advantage on returns, according to reports. 

Sellers can generally expect better gains when they list between March 15 and July 31, according to Zillow. But in particular, Memorial Day is marked as the season’s peak as buyers look to settle into their homes before summer kicks into full gear. 

As a result, that time of the year provides the highest premium for sellers. Last year, homes listed in the last two weeks of May had a 1.6% premium on average nationwide, representing a $5,600 increase over a typical U.S. home listed in other times of the year. 

The highest premium can vary regionally. For example, in the second half of March, home prices in San Diego, Calif., and Austin, Texas, increased by 2% and 2.3%, respectively, yielding an additional $20,100 and $10,400. In late November, the premium in Phoenix, Ariz., reached 1.4%, translating to $6,400 above average closing price.

In San Jose, Calif., listing a home in the second half of March yielded a $93,200 price increase and a 3.9% premium. And hitting the market in Atlanta, Georgia, in early June saw prices jump 1.2%, a $4,700 bump. 

Meanwhile, separate data from Realtor.com notes the best listing time across the nation this year is between April 13 and 19.

Historically, home prices during this week are 1.1% higher than during an average week throughout the year and 6.7% more than in January. During this time period, homes sell 17% faster than normal, and there are 13.2% fewer sellers on the market.

But the best time of the year to sell is also subject to change, and dependent on overall housing market conditions. For instance, stubbornly high mortgage rates and home prices have restricted buyer activity in recent years.

In March 2022, the Fed began increasing its rates, and in turn mortgages soared. At its peak, rates for 30-year fixed-rate mortgages skyrocketed above 7% in August 2023 and hovered near that level during 2024. Due to these high rates, homeowners have felt locked in by their mortgages, contributing to a stagnant housing market. Meanwhile, median home sales prices reached a record high of $426,900 in June 2024.

“In the past few years, mortgage rate fluctuations upended the traditional spring home shopping season,” Orphe Divounguy, a Zillow senior economist, said in a report. “Buyers who are on the edge of qualifying for a loan jump in and out of the market depending on what’s happening with rates.”

Mortgage rates are poised to drop if inflation continues to cool, according to Realtor.com. It eased from 3% in January to 2.8% in February, and the 30-year fixed mortgage sits around 6.67%, according to Freddie Mac.

“When rates fall, more buyers rush in, putting upward pressure on prices, which could happen at any time of year,” Divounguy said.

This story was originally featured on Fortune.com



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Jensen Huang sports black leather jackets worth thousands of dollars — ‘It’s the revenge of the nerds’

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  • Nvidia CEO Jensen Huang has been spotted wearing black leather jackets that cost thousands of dollars. It’s a fashion choice inspired by his wife and daughter that he’s continued for at least 20 years now. Some people have tried to say the cost of his jackets correlates to Nvidia performance, but it’s not confirmed.

The late Steve Jobs had his black turtlenecks, Mark Zuckerberg wore his black hoodie sweatshirts, and Bill Gates often sported a sweater over a collared shirt. These billionaires kept their styles relatively simple and seemingly budget-friendly. But one tech titan has presented a more stylish—and sometimes flashier—look.

Nvidia CEO Jensen Huang is nearly always seen sporting a black leather jacket. And these aren’t cheap faux garments. Many of the leather jackets in his wardrobe cost several thousand dollars a pop—and he hasn’t shied away from how his fashion choices have surrounded his identity.

“You may know me better as ‘the guy in the leather jacket who repeats things three times,’” Huang wrote when he hosted a Reddit AMA in 2016. It truly is his signature look, and one he proudly wore on the cover of Time in 2021 when he was one of its men of the year. 

Fashion experts confirmed to Fortune that Huang often wears luxury menswear brand Tom Ford, where some jackets cost more than $10,000 a piece. For example, Huang appeared to be sporting a biker-style black leather jacket by Tom Ford at Nvidia’s GTC 2025 keynote speech. 

Fashion experts have had differing views on exactly which Tom Ford jacket he was wearing, but the possible styles range from roughly $5,000 to $7,000. And in last year’s keynote address, Huang was believed to be wearing a lizard-embossed Tom Ford jacket that cost almost $9,000. But that’s just a drop in the bucket for Huang, considering his net worth is $104 billion and Nvidia’s market cap is nearing $3 trillion.

“It’s not his first rodeo. He wears a lot of Tom Ford. They’re all expensive,” Reginald Ferguson, owner and founder of menswear fashion consultancy New York Fashion Geek, told Fortune. “He’s found his lane and he’s sticking to it. I doubt he has a motorcycle outside. The black jackets go well with his gray hair.”

Why Jensen Huang wears a black leather jacket

Huang also admitted last year in an interview with HP his fashion choices didn’t come from his own inspiration. “I’m happy that my wife and my daughter dress me,” Huang said, adding he doesn’t like to wear a watch—unlike some of his millionaire and billionaire peers—because he prefers to live in the moment. A spokesperson for Huang previously told The New York Times Huang had been wearing black leather jackets “for at least 20 years.”

LAS VEGAS, USA – JANUARY 06: Nvidia CEO Jensen Huang addresses participants at the keynote of CES 2025 in Las Vegas, Nevada, on January 6, 2025. During the presentation, Huang unveiled a range of new chips, software, and services, reinforcing Nvidia’s leadership in artificial intelligence computing and its continued innovation across industries. (Photo by Artur Widak/NurPhoto via Getty Images)

Although black leather jackets can be a wardrobe staple piece, Huang isn’t afraid to have a little fun with his fashion choices. He’s also recently been spotted in “bolder, more sophisticated designs” like crocodile- or lizard-embossed leather jackets, Veronica Zhai, owner of New York-based luxury sustainable fashion brand Zhai, told Fortune. However, Huang opts for more understated styles from Dunhill in culturally conservative settings like Taiwan, she added.

Some social media users have tried to draw a correlation between the price of Huang’s leather jackets and Nvidia’s stock performance, but it’s a difficult trend to prove.

“Jensen Huang’s leather jacket price during CES: $8,990. NVIDIA stock price during CES 2025: $149.43. Jensen Huang’s leather jacket price during GTC 2025: $6,990 #NVIDIA stock price during GTC 2025: $115.43,” one user posted on Tuesday. “Stock down 23%, jacket down 23%. Coincidence? I don’t think so.”

Nvidia declined to comment about Huang’s fashion choices and whether there is a correlation between the cost of his jackets and Nvidia’s stock performance. 

Why tech executives create signature looks

Executives of major companies like Nvidia, Apple, and Microsoft are busy, so creating a signature look can help with decision fatigue, Zhai said. 

Wearing all black or the same piece makes decision-making easier, she said, adding that having a consistent signature style becomes an extension of the executive’s personal brand. 

SAN FRANCISCO, CALIFORNIA – SEPTEMBER 17: Nvidia CEO Jensen Huang talks onstage with Salesforce CEO Marc Benioff during Salesforce’s Dreamforce on September 17, 2024 in San Francisco, California. Some 45,000 workers in the tech industry were expected to attend the annual Dreamforce event, which runs through September 19. (Photo by Justin Sullivan/Getty Images)

“We see them stepping outside their comfort zones—Jeff Bezos being a prime example,” Zhai said. “Even Zuckerberg is evolving his image, shifting from a nerdy, ‘do-good’ persona to a cooler look.”

Although many tech executives don’t have a signature look, Ferguson said, Jobs picked his Issey Miyake black mocknecks because he was creating a uniform and didn’t want to think much about what he wore. Ferguson called Zuckerberg’s choice to just wear black hoodies “lazy,” but that he’s “evolved [and] definitely has a stylist now.”

Overall, a tech executive’s choice about their clothing makes a statement.

“It’s the revenge of the nerds,” Ferguson said. “They’re trying to be fly.”

This story was originally featured on Fortune.com



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