Major cell phone companies say their networks are secure now from a Chinese hack nicknamed Salt Typhoon. But the U.S. government is still urging people who are in senior government or senior political positions to use encrypted messaging on mobile devices. Also on the program: Economist Julia Coronado discusses why she’s waiting to make economic predictions for the year ahead, and the Cook Islands contemplate deep sea mining.

Jimmy Carter, a winner of the Nobel Peace Prize, died yesterday at 100. He served as president from 1977 to 1981, a term with the lows of U.S. hostages in Iran and the highs of the Camp David Accords. The Carter years were also strained by the economy. Today, we’ll reflect on his impacts. Plus, bets on a bull market in 2025 and an examination of surging rates of homelessness.

From the BBC World Service: Norway has suspended its plans for commercial-scale deep sea mining after facing criticism from environmental scientists. In the Pacific, the Cook Islands hopes the practice could help bolster its economy, but it’s not without opposition. But first: South Korea’s acting president has ordered a safety inspection of the country’s entire airline system after 179 people were killed in a plane crash on Sunday.

With threats of sharply higher import duties under a second administration of Donald Trump, companies are rushing to insulate themselves from the higher cost of doing business that could follow. More businesses are opting to stockpile inventory and look for manufacturers or suppliers outside of China. Also on the program: a giant of corporate America has died, and more younger people are looking to bet on sports.

In recent decades, technology like automation and software advances has upended jobs, from taxi drivers to factory workers and more. But by historic standards, occupational churn has actually been pretty low. Artificial intelligence could change that, however. We’ll learn more. But first, our gift to you is this reminder: 40% of you have an unused gift card sitting there, plump with money you may have forgotten you had.

From the BBC World Service: South Korea has voted to impeach acting President Han Duck-soo, two weeks after parliament voted to impeach President Yoon Suk Yeol following his failed attempt to impose martial law. All that turmoil is having a negative impact on the economy. Then, with less than a month to go until Donald Trump is back in the White House, many companies are rushing to protect themselves from planned tariffs.

The National Retail Federation expects 2024 to be one of the biggest years ever for merchandise returns, totaling $890 billion. And retailers are increasingly more likely to charge return shipping or restocking fees. We’ll unpack expectations for post-holiday returns (then repack them and see if we remember where we put the gift receipt). Plus, Trump’s threats of tariffs on Mexican goods stresses the relationship with a key U.S. trade partner.

The Federal Reserve guides interest rates and is one of several regulators of the nation’s banks. Now, the banking industry is suing over the way the Fed conducts its annual stress tests, which are designed to measure banks’ resilience in case of a bad financial shock. We’ll hear more. Plus, Yelp celebrates its 20th year, and the passion of soccer fans provides a lesson in behavioral economics.

From the BBC World Service: With less than a month until President-elect Donald Trump assumes office, tariffs are top of the economic agenda, and protectionism is the name of the game. How likely is it that the tariffs Trump has threatened to impose on Mexico will come into force? And what impact would they have? Also: an examination of the European Union’s tariffs on Chinese EV imports.

The current star in technology is, of course, artificial intelligence. But quantum computing is also making gains. It could help solve some of the world’s most difficult problems by, for instance, accelerating drug development or innovating solutions to the climate crisis. We’ll learn more about recent advances and outlook for the tech. Also: a look back at some the top global economic stories from the year.