Delta Regional Plane Crashes at Toronto Airport
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Hilton for the stay.

Here is your morning brief for Tuesday, February 18th. I'm Kate Bullivant for The Wall Street Journal.

American and Canadian authorities are investigating an incident involving a Delta Airlines regional flight that left at least 18 people injured at Toronto's Pearson Airport yesterday. Dramatic images posted on social media show the Bombardier jet upside down on the tarmac and stripped of its wings after the flight from Minneapolis crashed while landing.

All 80 passengers plus crew aboard the flight, which was operated by Delta's regional subsidiary Endeavour Air, were evacuated and survived. Southwest Airlines is preparing to cut 15% of its corporate workforce, or more than 1,700 jobs, in the first mass layoff in its 53-year history.

The cuts are due to take effect in late April and are the most tangible signs of a shift in the airline strategy after a battle with activist Elliott Investment Management last year. Southwest shares are edging higher in off-hours trading. The stock is down about 10% so far this year.

And the Reserve Bank of Australia has cut interest rates for the first time since 2020, joining overseas counterparts in the global easing cycle. Australia's Labour government is banking on the quarter-point cut boosting its odds ahead of federal elections to be held by mid-May, in which the cost of living is expected to be a central issue.

Asian stocks have end of the day mixed, European stocks are edging lower in midday trading, and US stock futures are up ahead of earnings from Medtronic and Occidental Petroleum. And we have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.