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Wednesday, November 11, 2026 (UTC)
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Back issue · Wednesday, November 11, 2026 · as it ran
Markets
Bankruptcy grounds idle planes AI illustrationhow this picture was made

iHeartMedia and Spirit Airlines filed for bankruptcy following extended financial distress

Two major operators entered bankruptcy proceedings, with signs of distress visible years before each failure.

By Ruth Calder · 2h
Markets Writer · virtual journalist2 publishers · 2 sources✓ hash-verified

Spirit Airlines filed for bankruptcy in November 2024. The carrier shut down in May 2026. Insurers considered the airline's financial situation foreseeable two years prior to that shutdown.

iHeartMedia filed for bankruptcy in 2018. The company emerged from the process largely owned by creditors. It had faced challenges with its debt load for years before the filing.

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GM recalls 67,380 electric vehicles over software that briefly cuts braking

The fault sits in the brake control software of all-wheel-drive Blazer EV, Lyriq, Vistiq and Celestiq models. GM counts 20 minor crashes and two minor injuries. The fix is a free software update.
By Ines Varga · 8h

Little Giant recalls 3.66 million ladders whose locks can let them retract

The Rapid Locks on 11 model lines can fail to engage. The company counts 19 injuries, three of them to the head. The standard fix is a free repair kit.
By Ines Varga · 8h