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Trees covered by ash expelled by the Cumbre Vieja volcano. Photo: Alexandre Diaz/Europa Press via Getty Images

A volcanic eruption on the Spanish Canary island of La Palma was officially declared over on Saturday, after 10 days of inactivity and three months since the initial explosion, the AP reports.

Driving the news: The lava flow and ash, which stretched a little more than 85 days, destroyed "around 3,000 buildings, entombed banana plantations and vineyards, ruined irrigation systems and cut off roads," per the AP.

  • The eruption from the Mount Cumbre Vieja volcano forced thousands to flee, but no deaths were reported.
  • The volcano began to erupt in September after several weeks of seismic activity, with authorities recording an earthquake of about 3.8 magnitude before the eruption.

What they're saying: "What I want to say today can be said with just four words: The eruption is over," regional security chief Julio Perez said Saturday.

  • Perez said the volcano caused roughly $1 billion in damages, per the AP.

Go deeper

Dan Primack, author of Pro Rata
54 mins ago - Economy & Business

Peloton's wild ride and possible buyers

Illustration: Megan Robinson/Axios

Peloton is having a bumpy ride, and has become a source of fascination among even those who've never invested or clipped in.

Driving the news: On Monday, a hedge fund with less than a 5% stake in Peloton called for CEO John Foley to be fired and for the connected fitness company to consider seeking a strategic buyer. Shares gained nearly 10% on the news, but remained down 16.2% for the year and off 80% their December 2020 peak.

Scoop: Republicans probe NBC over Beijing Olympics coverage

Photo: Oscar del Pozo/AFP via Getty Images

Republican leaders on the House Energy and Commerce Committee have sent a letter to NBC Universal executives voicing concerns about "the extent of influence the CCP (Chinese Communist Party) may have over NBCUniversal’s coverage of the games."

Why it matters: The human rights abuses committed by the CCP have been the subject of intense scrutiny ahead of this year's Winter Games in Beijing. Activists last year sent a letter to NBC executives urging the network to cancel plans to cover the Olympics.

Scoop: Trump's new social network quietly courting influencers

Illustration: Lazaro Gamio/Axios

Former President Trump’s elusive new social media network Truth Social — which plans to go public — is reaching out to internet influencers asking them to “reserve their spots” for when it launches in February or March.

Why it matters: The outreach doesn’t mention Trump’s name or affiliation. Some influencers suggest that could be a ploy to enlist their support without realizing the affiliation.