Axios

Two U.S. airlines confirmed their planes had been struck by gunfire over Haiti's capital Port-au-Prince on Monday.

The latest: The Federal Aviation Administration is stopping all U.S. flights to Haiti for 30 days, per a Notice to Air Mission issued Tuesday.

Companies are scrambling to shift production out of China, bolster inventory and weigh price increases as they brace for tariff hikes from a second Trump administration.

Why it matters: Trump has threatened to ramp up duties on China, Mexico and possibly elsewhere, increasing the cost of importing products from those countries for U.S. businesses.

Heading into a second Trump presidency and a Republican-led Senate has infused a palpable optimism in the cryptocurrency industry.

Why it matters: The details are taking shape of who will fill positions central to crypto realizing its hyped potential.

Catch up fast: In case you hadn't heard: Donald J. Trump will return to the White House in January.

• We know two things for sure: his chief of staff (Susie Wiles); and that his team has been working on appointments for a while.

We know that the co-chair of his transition team, Cantor Fitzgerald CEO Howard Lutnick, is a major holder of bitcoin, and an executive who runs a company that counts Tether, the biggest stablecoin company, as a major client.

Markets are betting that the second Trump administration will bring robust growth, an unshackled corporate sector, and only modest downside from some of the president-elect's more disruptive plans.

Why it matters: Policy will be volatile in the years ahead, and risks abound. But the wisdom of the investing crowds — for the moment — holds that it will net a more conducive environment for business and that any uptick in inflation will be temporary.

Newsletter platform Substack has quietly raised around $10 million from a broad range of strategic investors, including Omeed Malik and Nate Silver, a source tells Axios.

Why it matters: Substack has more than three million paid subscriptions.

Elon Musk leads Fortune's first list of the 100 most powerful people in business, out Tuesday morning.

Why it matters: Leaders on the list "share one defining trait: their actions and words influence what others think and do," Fortune executive editor Lee Clifford said.

Climate-related extreme weather events cost the global economy more than $2 trillion over the past decade and the U.S. was the worst-affected nation, per a report published as leaders gather for the COP29 summit in Azerbaijan Monday.

Why it matters: The damage estimates in the Oxera report for the International Chamber of Commerce for 2014-2023 roughly equate to those of the 2008 global financial crisis and ICC secretary-general John Denton said "the economic impact of climate change" needs a "response of similar speed and decisiveness," per CNN.