The Philippines says it expected nine Filipino mariners held by the Houthis since July attack to be released in Yemen.
Published On 3 Dec 20253 Dec 2025
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Yemen’s Houthi rebels released mariners held since a July attack on a cargo ship in the Red Sea, an assault that killed at least four on board and sank the vessel.
The Houthis, who have targeted ships during Israel’s genocidal war on Gaza, said via their Al Masirah TV news channel that Oman had taken custody of the seamen, who were flying to the sultanate on Wednesday.
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Oman did not immediately acknowledge the release. However, a Royal Oman Air Force jet landed earlier Wednesday in Sanaa, the Yemeni capital, according to flight-tracking data. Following the Houthi announcement, the plane was tracked leaving Yemeni airspace.
The Philippines said on Tuesday that it expected nine Filipino mariners held by the Houthis since the attack to be released. The Foreign Ministry in Manila described the seamen as being “held hostage by the Houthis” since the July attack.
The Houthis offered no immediate breakdown on the nationalities of those released. It described their forces as rescuing the men after they abandoned the crippled ship following the attack.
Houthis cease fire during Gaza truce
Al Masirah on Wednesday published an image of six of the men, without expressions, wearing the black-and-white checkered keffiyeh scarf often associated with the Palestinians.
The attack on the Liberian-flagged bulk carrier Eternity C also left 11 people missing.
The Houthis have targeted more than 100 ships with missiles and drones in their campaign, sinking four vessels. The attacks have killed at least nine mariners after a crew member on board one of the vessels targeted, the Minervagracht, died of his wounds in October.
The Houthis have held seamen for months in the past, and it was not immediately clear why they released the mariners now.
The Houthis stopped their attacks on the Red Sea and Gulf of Aden during an earlier ceasefire in Israel’s genocidal war on Gaza. They later became the target of a weeks-long campaign of air strikes ordered by US President Donald Trump before he declared a truce had been reached with the rebels.
The current Gaza ceasefire has again seen the Houthis hold their fire.
Tony Cuccio stood on Venice Beach in 1981 with just $200 in his pocket. Years later, he’s the founder and CEO of Cuccio Global Distribution, a beauty empire that popularized gel nails and has since generated $2 billion in total sales across 90 countries.
Cuccio, a Sicilian from Brooklyn, failed twice before he hit it big—first with a candy store, then a beer and beverage business. But at 25, he needed something to stick.
He and his wife, Roberta, set up a five-square-foot stand on Venice Beach, moving around $500 to $600 worth of makeup daily. At night, they’d hustle over to Westwood Boulevard, set up shop in front of an Hallenstein’s clothing store, and hope to catch the evening crowd.
The breakthrough came when customers started asking for wholesale terms. Cuccio needed a business name for an SRRA number to accept checks. “We said, I don’t know. And they said, Who owns it? I said, Stephen, Tony, and Roberta. That’s Star Nail,” he said. And so, Star Nail was born.
Gel nails became the cornerstone of Star’s business. While scientists had created the chemistry decades earlier, Cuccio saw the commercial potential others missed.
“When I say I invented them, I want to clarify that for all your viewers because I’ve seen a lot of people say a scientist invented them in 1950. Gel nails were not popular until ’81. We put calcium, we put fiberglass in them, we made them more durable,” he said. “I marketed them and made hundreds of millions of dollars on gel nails.”
Starting small
Cuccio’s business model revolved around growth and discipline. He started with $200, parlayed it to $1,000, and kept overhead minimal. For two years, the only money he took from the company was rent for his apartment. Everything else went back into inventory.
“I never took a line of credit from the bank. I never had a mortgage. I never borrowed money. I’ve never taken money out of a bank,” he said. “Banks are to put money in, not to take money out.”
Cuccio also set himself apart from the competition, which largely stayed domestic, by traveling to 90 countries starting in 1984—and financing his distributors himself. “I finance a lot of my 90 countries. So, I’m the bank. They call me BOC: Bank of Cuccio,” he said.
Brazil was his first target—and 24 years after opening a factory there, it’s now his most profitable market, generating about $15 million per year.
Never taking venture capital or going public was also deliberate. “The only time you go public is when you need to scale really fast and it’s millions or billions of dollars and you have to hit something really quick,” he said.
“I only sold one thing in my life. I never sold a product. I never sold a widget. I never sold a beauty product. I did seminars in 90 countries on how to make money,” he said. “If you make other people money, then you’ll make millions of dollars or a lot of money. The whole goal is to sell yourself.”
Running an empire in his 70s
Now 71, Cuccio says he still arrives at work at 5 a.m. “It’s 95% perspiration and 5% luck,” he said in a recent TikTok. But, like his grandmother told him when he was young, “if you love what you do, you’ll never work a day in your life,” he said.
“I’m going to Dominican Republic at 71 years old next month. In the first two days, I’ll be working with my dealer with their people, teaching them how to scale their business personally,” he said.
The foundation of his empire rests on loyalty and mutual investment. About 41 years ago, Cuccio said he hired a 22-year-old woman and gave her 5% of the company when he sold. “What it did is it put golden handcuffs on her because people offered her a lot of money through the years, but she wanted that 5%. She now owns 14%. And without her, there’d be no company.”
Over four decades, Cuccio said he’s maintained a core group of employees with 30- and 40-year tenures. “Without good people, you can’t do it yourself. You can run the ship. You can make the calls. You can guide the direction to scale up, but somebody’s got to run your company,” he said.
Roberta, Cuccio’s wife of 48 years, has also been instrumental.
“If it wasn’t for my wife—I’ve been with my wife since I’m 12, so 58 years; married 48 years—I think I’d be in jail or dead,” he said.
The flip side of the loyalty coin
Yet, loyalty has limits. When hiring salespeople, Cuccio uses a single litmus test: commission or salary? “Anybody who wants a salary automatically gets thrown out of the interview because you didn’t ask me how much commission,” he said. “If I’m going to give you 90% commission, you wouldn’t know unless you asked.”
Over the past 40 years, Cuccio said he’s hired more than 2,000 people. The hardest skill he’s developed is knowing when to cut ties. “If I know that they’re not a worker and I know they don’t want to make more money, I have to make the decision on the people that I know aren’t for you and aren’t loyal and aren’t willing to put the work in. The hardest thing is to cut them loose fast. And I do that without even thinking,” he said.
“The most important thing I could teach young people is if somebody screws you in business or in life, just walk away,” he continued. “Don’t give them the opportunity.”
From fake nails to real estate
Cuccio’s wealth extends far gel nails. He’s invested heavily in tax-free municipal bonds and industrial real estate—two vehicles he credits with generating the greatest returns.
At 27, he learned about tax-free bonds from a successful entrepreneur and realized they offer guaranteed income with tax advantages. “I started with a million dollars and it’s up to 40 million. And all I did was keep rolling the tax-free bonds,” he said.
Cuccio’s realization about real estate came differently. A friend and business associate named Larry Petraelli asked him why he paid rent when he could own the building and pay himself. Cuccio took the advice to heart. “My last building I bought 22 years ago for 4 million. It’s worth 40 million,” he said.
His philosophy on real estate is deceptively simple: Buy quality investment property with 50% down, never over-leverage, and never sell. “Your rent goes up. Your mortgage goes down and you give the buildings or the rental property to your kids. That’s why they call it real estate. Why would you sell it?” he said.
For younger investors with time on their side, the advantage multiplies. Real estate markets typically cycle every seven to ten years—longer now after the 2008 financial crisis. “If you’re 25 years old, you’re going to go through at least six different cycles. So if you buy and hold, you’re going to go 6x because you have the time,” he said.
His preference for industrial properties—high-ceiling warehouses suited to e-commerce—reflects changing times. “When Amazon moved in, it went from $200 a square foot to $400 a square foot,” he said.
Personal finance, retirement, and the money trap
Cuccio has become an unlikely advocate for personal finance education. He started IRAs for 90 of his employees, lending them $7,000 on Jan. 2 each year and deducting small amounts from their paychecks over time. “One girl is with me 25 years. She’s a Mexican girl. She has $200,000 in it,” he said.
For those under $250,000 in annual income, Roth IRAs offer an exceptional advantage: Contributions come off the top of gross earnings, lowering taxable income, and growth compounds tax-free until age 65. “The government’s saying to you, kid, I’m going to let you put $7,000 in. I’m going to give you $3,000 back. I’m going to let you make interest until you’re 65. And then I’m going to let you take it out with no taxes. And you say, I don’t have the money. Find the money. Borrow the money,” he said.
For the first 60 years of his life, Cuccio said he equated money with success. He stayed in budget hotels and skimped on everything, believing more wealth would satisfy him. It didn’t.
“I realized one thing about money. I thought it was God,” he said. “Don’t do what I did.”
Now, Cuccio sees money differently. “The only time money is important is when you don’t have it. When my mother would cry because the refrigerator broke and she didn’t have $300 to get a new refrigerator, that’s when money was important,” he said. He kept a 50-year promise to his mother: whenever he could afford first class, he’d send her the difference.
“It gave me more gratification to help my mother,” he said.
You can watch Cuccio’s full interview with The School of Hard Knocks below:
For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.
What does the latest round of diplomacy on Ukraine tell us about Russian President Vladimir Putin’s mood and intentions?
For starters, that he’s not ready to sign a peace deal. At least, not right now.
And certainly not the deal (or deals) on the table.
“No compromise version has yet been found,” commented Kremlin foreign policy aide Yuri Ushakov after five hours of talks in Moscow involving Putin, US envoy Steve Witkoff, and Donald Trump’s adviser and son-in-law Jared Kushner.
No compromise is no real surprise, considering the Kremlin leader’s uncompromising comments in recent days.
In various statements he has condemned the Ukrainian leadership as a “thieving junta”, accused European leaders of trying to sabotage peace efforts, and insisted that Russia holds the initiative on the battlefield.
On a couple of recent occasions Russian TV showed Putin in military fatigues, studying maps of the front line and trumpeting military gains, many of which Ukraine and international observers have denied.
After nearly four years of Russia’s full-scale invasion of Ukraine, despite the heavy losses Russia has suffered on the battlefield and the damage to the Russian economy, President Putin seems convinced that he is winning this war and that now is not the moment to stop.
At least, that is what he would like the West to believe: that nothing can stop him now from achieving his goals.
I’ve said before that, in many ways, Vladimir Putin reminds me of a car with no brakes, no steering wheel and no reverse gear; a vehicle careering full speed down the motorway.
Nearly four years after the full-scale invasion of Ukraine there is still no sign of the “Putinmobile” turning off, turning back, or coming to a halt.
He certainly wants his opponents to think that nothing or no one can force him to change direction: neither European leaders, nor the Trump administration, nor President Zelensky.
But cars need fuel (a constant supply).
And, to fight a war, countries need money (a constant supply).
For now, despite international sanctions, Russia’s government is still able to finance the “special military operation” – its war on Ukraine. But economic pressures are building: revenues from oil and gas have been falling, the budget deficit growing.
Even Putin admits there are problems, referring to “imbalances” in the economy.
“In several sectors, production output not only failed to increase this year but actually decreased,” Putin said this week. “Are we satisfied with such trends? No.”
The big unknown: at what point, if at all, will economic concerns start to influence the Kremlin’s calculations on the battlefield?
KISS co-founder and co-lead singer Gene Simmons will testify before the US Senate Judiciary Committee’s Intellectual Property Subcommittee on December 9 in support of legislation that would require radio stations to pay performers when their music airs.
musicFIRST, a coalition founded in 2007 “to ensure music creators get fair pay for their work on all platforms,” said the hearing marks the first time since 2009 that the Senate has examined legislation that would close what supporters call the “radio loophole” and require radio companies to properly compensate artists for playing their recordings.
Simmons, who will receive Kennedy Center Honors with KISS this Sunday (December 7), will testify with MichaelHuppe, President and CEO of SoundExchange, the nonprofit that collects and distributes digital streaming royalties.
Senator MarshaBlackburn, a Tennessee Republican, and Representative DarrellIssa, a California Republican, reintroduced the American Music Fairness Act, described as “a bipartisan bill that establishes a performance right for sound recordings broadcast by terrestrial (AM/FM) radio.”
The legislation secured support from the Recording Academy and the musicFIRST coalition.
“I look forward to meeting with both Republican and Democratic Senators to discuss why this legislation is crucial for thousands of present and future American recording artists.”
Gene Simmons, KISS
Simmons said: “Having spent my career in the music and entertainment industry, I understand the vital importance of this issue. The American Music Fairness Act represents sound public policy. Artists must be properly compensated for their creative work. I look forward to meeting with both Republican and Democratic Senators to discuss why this legislation is crucial for thousands of present and future American recording artists.”
While streaming platforms like Spotify and AppleMusic, as well as satellite radio and internet radio pay performers royalties, traditional radio stations “use the music of hard-working performers and producers without compensating them for their work” due to a loophole in the existing bill, the Recording Academy has said.
When the bill was reintroduced earlier this year, Rep. Issa said: “Now is the time for the United States to finally adopt the proven global standard of compensating our artists for music broadcast over the radio.”
Senator Blackburn said: “The United States is the only democratic country in the world in which artists are not paid for the use of their music on AM and FM radio. This legislation would close an outdated loophole that has allowed corporate broadcasters to take advantage of artists and their songs for decades.”
musicFIRST noted that big radio corporations made $13.6 billion last year in advertising revenue.
“The United States is the only democratic country in the world in which artists are not paid for the use of their music on AM and FM radio.”
Marsha Blackburn, US Senator
The American Music Fairness Act has attracted backing from more than 300artists who wrote to Congressional leaders in February. That coalition includes performers across genres who argue the current system “robbed us from being paid on terrestrial radio for decades.”
Country music singer RandyTravistestified before the House last year in support of the measure.
“Now is the time for the United States to finally adopt the proven global standard of compensating our artists for music broadcast over the radio.”
Darrell ISSA, US Representative
Community broadcasters —including the Alliance for Community Media, Common Frequency, Media Alliance, the National Federation of Community Broadcasters (NFCB), Prometheus Radio Project, and REC Networks — have also endorsed the legislation.
SoundeExchange’s Huppe said: “I’m pleased for the opportunity to testify before the Senate next week. Recording artists are an essential part of our culture. It’s outrageous that, in 2025, they still are not paid fairly for the work they do. I hope that the Senate will remedy this inequity and act swiftly to pass this important legislation.”
While the bill’s proponents argue that AM/FM radio “refuses to pay performers for their work,” performance rights organization BMI in August declared that its latest agreement with radio broadcasters included its “largest rate increase ever” for royalties paid on music played on the air in the US.
“Recording artists are an essential part of our culture. It’s outrageous that, in 2025, they still are not paid fairly for the work they do.”
According to documents filed with the US District Court for the Southern District of New York in August, AM/FM radio stations will pay a headline rate of 2.14% of their gross revenue for a blanket license to play songs represented by BMI for 2022 and 2023, rising gradually to 2.20% for 2026-2029.
Given that the previous agreement between BMI and the radio stations represented by the Radio Music License Committee (RMLC) set a blanket fee rate of 1.78% for the 2017-2021 period, that means there will ultimately be a 23.6% increase in the rate radio stations pay for playing BMI-represented music on the air, MBW reported earlier.
new video loaded: What Is Pope Leo XIV Like Up Close?
Pope Leo XIV showed the world a glimpse of who he is and what he stands for during his papacy’s first international overseas trip. Motoko Rich, our Rome bureau chief, witnessed how a shy and cautious person took on the global stage.
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Lee Jae Myung says he felt he should apologise over drone flights allegedly ordered as a provocation by his predecessor.
Published On 3 Dec 20253 Dec 2025
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South Korean President Lee Jae Myung has said he is weighing an apology to Pyongyang over cross-border provocations allegedly ordered by his predecessor.
Lee said on Wednesday that he felt an apology was in order following the indictment of former President Yoon Suk-yeol last month for allegedly ordering drones carrying propaganda leaflets to fly over the North, in a bid, say prosecutors, to provoke tension and boost his political support.
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The comments came as Seoul marked the anniversary of Yoon’s ill-fated declaration of martial law, which was spurred by similar intentions but instead led to a deep crisis in South Korea.
Lee has sought dialogue with Pyongyang after he became president, but his overtures have so far been ignored by the North’s leader, Kim Jong Un.
“I feel I should apologise, but I hesitate to say it out loud,” Lee told a news conference in Seoul.
“I worry that if I do, it could be used as fodder for ideological battles or accusations of being pro-North,” he added.
North Korea accused Yoon’s government of flying drones over Pyongyang to drop propaganda leaflets three times in October 2024.
South Korean media reported on Monday that the military had also flown balloons carrying propaganda leaflets across the border during the former administration’s time in office.
Deep divide
Lee’s comments came on the anniversary of Yoon’s bid to install martial law.
The decree plunged South Korea into an unprecedented crisis that saw protesters and lawmakers swarm parliament to force a vote against the measure.
It was quickly declared unconstitutional by the Supreme Court.
Yoon was subsequently impeached and removed from office, and is in prison awaiting trial for insurrection and other charges stemming from his failed martial law attempt.
However, South Korea remains deeply divided by the stunt, with those infuriated by Yoon’s actions matched by supporters of his hardline approach to the North and claims that the South’s democracy is under attack from his political rivals.
Opposing marches were held in Seoul on Wednesday as the anniversary was marked.
Dialogue
Lee, a liberal who won a snap presidential election following Yoon’s removal from office in April this year, told reporters he is eager to repair relations with Pyongyang.
Since taking office in June, he has taken a number of measures to reduce tensions, including removing propaganda loudspeakers along the border.
On Tuesday, Seoul passed a law banning activists from flying balloons carrying propaganda leaflets into the North.
But North Korea has so far rebuffed Lee’s efforts, with Kim saying his government has no interest in dialogue.
Despite this, the South Korean president said he would persist. He suggested that the suspension of regular military drills with the United States, which are viewed as a provocation by Pyongyang, could be an avenue to consider to encourage the North to resume talks.
Lee also expressed hope that US President Donald Trump – “a realist, pragmatist, and master of dealmaking who respects his counterparts” – could help persuade the North, saying Pyongyang appeared to take Washington more seriously than it did Seoul.
The Los Angeles Lakers are off to a strong 15–5 start, good for second place in the Western Conference. No player has fueled that success more than Luka Doncic, who is making one of the strongest early MVP cases in the league.
Doncic is averaging 35.1 points, the highest mark in the NBA. He also ranks fourth in assists with 9.2 per game and 19th in rebounds at 8.7 per game. As of December 1, FanDuel lists him with the third-shortest MVP odds, trailing only Shai Gilgeous-Alexander and Nikola Jokic.
Western Conference Player of the Week
The NBA recognized Doncic’s recent surge by naming him the Western Conference Player of the Week. His production carried the Lakers through a dominant three-game run in which they won each matchup by an average of 13 points. Over that stretch, he posted 37.3 points, 10.3 assists, and 8.7 rebounds per game.
Head coach JJ Redick praised his star guard, calling him “one of the greatest offensive engines to ever play basketball.” This is Doncic’s first full season in Los Angeles after spending his entire career with the Dallas Mavericks before last February’s blockbuster trade.
Defenses Have No Answers
Opposing teams continue to struggle with how to defend him. Austin Reaves explained the dilemma after the Lakers’ 133–121 win over the Pelicans. “The gravity that he has on the court, it’s impossible to guard him any certain way because [of] his ability to pass the ball, his unselfishness and his shot-making ability,” Reaves told the Los Angeles Times. When teams blitz him, the Lakers often get clean looks. “Then you have advantage basketball and we like our chances.”
The Lakers have benefited from that pressure. Their offense ranks among the most efficient in the league, with Doncic driving nearly every possession.
Can the Lakers Keep Rising?
Reaves believes the Lakers still have room to grow. The upcoming schedule will test that confidence, with road games against the Raptors, Celtics, and 76ers looming. Los Angeles will need its offense to stay sharp as the competition stiffens.
“We like our chances,” Reaves said. He added that the Lakers generated many strong looks despite some missed shots in their latest win. “We still scored 130. I still think this offense can go to another level.”
If Doncic keeps producing at this level, the Lakers’ ceiling may be even higher than their record suggests.
Prada announced on Tuesday that it has acquired Versace, bringing two major Italian luxury fashion houses under one roof.
The $1.38bn (£1.04bn) deal is well below the roughly $2bn that Versace’s former parent company, Capri Holdings, paid for the brand in 2018.
The acquisition expands Prada’s portfolio of designer brands – including Miu Miu – as it seeks to compete with rivals including French conglomerate LVMH, which owns Dior and Fendi in addition to Louis Vuitton.
She took over the company in 1997, after the murder of her brother Gianni. She was replaced by Dario Vitale, formerly a design director of Miu Miu, Prada’s youth-focused luxury brand.
The company is being sold at a roughly $700m loss after Versace’s sales slowed, along with the sale of Capri Holdings’ other brands, which include Michael Kors and Jimmy Choo.
During Capri Holdings’ ownership, Versace shifted from its recognisable ornate designs to embrace a more minimalist trend – while hiking prices.
Prada said in a one-line statement on Tuesday that it has successfully completed the acquisition of Versace, having received all required regulatory clearances.
Proceeds from the sale will help cut debt for Capri Holdings, Versace’s former parent company, the firm said.
Capri chief executive John D Idol said: “We plan to use the proceeds to repay the majority of our debt, which will substantially strengthen our balance sheet.”
Andrea Guerra, the chief executive of Prada, said earlier this year that Versace has “huge potential”.
“The journey will be long and will require disciplined execution and patience,” he said.
