Tuesday☕️

18 Mar 2025 — 5 min read

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Yesterday, March 17, 2025, Dan Bongino was sworn in as the Deputy Director of the FBI, assuming the role of second-in-command under Director Kash Patel. Bongino, a known media personality from the Dan Bongino Show, has a background in law enforcement from his past NYPD and Secret Service roles. His role involves overseeing the agency’s day-to-day operations, complementing Patel’s responsibility for setting the FBI’s overall direction and managing its 35,000 employees.

Economics & Markets:

Geopolitics & Military Activity:

Yesterday, March 17, 2025, the ceasefire between Israel and Hamas, which had been in place since January 19, unraveled, leading to a resumption of military activity in the Gaza Strip. The truce, brokered by the United States, Qatar, and Egypt, initially paused hostilities for six weeks, facilitating the release of 33 Israeli hostages and nearly 2,000 Palestinian prisoners, alongside increased humanitarian aid to Gaza. However, the agreement faltered after its first phase ended on March 1, with both parties failing to advance to the next stage. Israel cited Hamas’s refusal to release additional hostages or extend the truce as the breaking point, while Hamas pointed to Israel’s actions, including aid restrictions and strikes, as violations that undermined the deal.

This impasse ended diplomatic efforts, with Israeli leadership, under Prime Minister Benjamin Netanyahu, ordering a renewed offensive. The renewed campaign began on March 17, 2025, with Israeli airstrikes targeting multiple locations across Gaza, aimed at Hamas infrastructure and personnel. The Israeli military described the strikes as a response to Hamas’s regrouping efforts during the ceasefire, while Hamas accused Israel of derailing peace prospects. Both sides had engaged in negotiations through mediators until the collapse.

Environment & Weather:

Business:

On March 16, 2025, Forever 21’s U.S. operating entity, F21 OpCo LLC, filed for Chapter 11 bankruptcy, marking the retailer’s second filing in less than six years. This development reflects challenges from increased operating costs, reduced foot traffic in malls, and competition from e-commerce platforms like Shein and Temu, which benefit from lower pricing models. Currently operating around 354 stores in the U.S., Forever 21 plans to begin liquidation sales while exploring options to sell some or all of its assets, though a full closure remains possible if no buyer emerges. International operations are unaffected, highlighting a contrast to the significant reduction in its U.S. presence from a peak of over 800 global stores.

Forever 21 first sought Chapter 11 protection on September 29, 2019, following rapid expansion into 47 countries and difficulties adapting to the rise of online shopping. That filing resulted in the closure of 178 U.S. stores and 350 worldwide, with the company restructured and sold for $81 million in 2020 to Authentic Brands Group, Simon Property Group, and Brookfield Properties. The second bankruptcy on March 16, 2025, indicates ongoing issues, including competition from digital retailers and economic factors affecting its core demographic. Spanning 7.6 million square feet, its U.S. stores now face potential liquidation unless a sale preserves some locations, leaving its physical operations in flux while the brand persists under Authentic Brands’ control.

Space:

Yesterday, March 17, 2025, Rocket Lab carried out its "High Five" mission, launching the 62nd Electron rocket from Launch Complex 1 on New Zealand’s Māhia Peninsula. This mission delivered the final five nanosatellites for Kinéis, a French company, completing their 25-satellite network in under a year. These compact satellites will link devices globally, aiding in tracking, monitoring, and sending instant alerts. It marked Rocket Lab’s fourth successful orbital launch of 2025, demonstrating their consistent launch pace from their private New Zealand site.

Yesterday, March 17, 2025, Galactic Energy, a Chinese commercial space firm, launched its Ceres-1 rocket from the Jiuquan Satellite Launch Center in northwest China. The mission successfully placed eight satellites into a 535-kilometer sun-synchronous orbit (SSO), ideal for consistent Earth observation. This included six Yunyao-1 satellites (numbered 55 to 60), designed to gather weather-related data like temperature and humidity, and two AIRSAT satellites (06 and 07), built for multispectral imaging to support tasks like environmental monitoring. The launch reflects China’s increasing focus on commercial space missions from its Jiuquan spaceport.

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