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U.S. stocks are falling from their record heights, while oil prices jump following escalations in the Middle East that may be undermining the ceasefire in the war with Iran. The S&P 500 fell 0.4% Monday, coming off its latest all-time high. The Dow Jones Industrial Average dropped 453 points, and the Nasdaq composite slipped 0.2%. Stocks turned lower after the United Arab Emirates said an Iranian drone sparked a fire at an oil facility and issued its first missile alerts since a ceasefire reached in early April. The price for Brent oil jumped more than 5% to more than $114 per barrel.

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The radio station WKRP isn't dead, it's now live on air in Cincinnati. The call letters from the fictional station featured decades ago in a CBS sitcom were adopted by stations in the Cincinnati market in time for the Monday-morning drive. The station's co-owner says delighted listeners have been mobbing the phone lines. The owners obtained the call letters by making a donation to a North Carolina nonprofit whose low-power radio station has had them since 2014. The show “WKRP in Cincinnati” ran from 1978 to 1982 and starred Loni Anderson, Howard Hesseman, Tim Reid and Richard Sanders as bumbling newsman Les Nessman.

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Another severe wildfire season is forecast for the Western U.S. due to record-breaking heat and an abysmal snowpack. Some states and utilities are trying to get ahead of that threat using AI. In Arizona, the state’s largest electric utility is installing AI-monitored cameras across its service region. The technology identifies possible smoke and notifies human analysts for quick verification. Fire management officials say the technology spots more fires than humans, and alerts authorities more quickly, allowing for faster and more efficient action to extinguish wildfires. Similar technology is being rolled out in Colorado, California and other wildfire prone states, as well as in Canada and Australia.

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The Iran war has made life even more precarious for millions of foreign workers in the Middle East. They have helped build the Gulf Arab states’ modern, oil-fueled economies — with many not fully sharing in their prosperity. At least 28 were killed in missile and drone attacks before a fragile ceasefire took effect in early April. Now they face an even sharper version of a long-standing dilemma, whether to keep working in the Gulf Arab countries, where wages are much higher — hoping that the truce endures — or return home, to their already poor countries where prices have soared because of the conflict.

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Agriculture Secretary Brooke Rollins this week attributed a multimillion-person drop in the number of participants receiving food stamps through the Supplemental Nutrition Assistance Program to the tamping down of fraud and an improved economy. It is true that SNAP beneficiaries decreased by nearly 4.3 million from January 2025 to January 2026, according to preliminary government data released by the Agriculture Department. However, experts say fraud detection and economic upturns are not the primary reasons. Instead they say the key drivers are new requirements mandated by a massive tax and spending cut bill Republicans pushed through Congress last summer.

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Federal authorities are investigating after a United Airlines passenger jet struck a light pole on the New Jersey Turnpike while landing at Newark Liberty International Airport. The Federal Aviation Administration says the incident happened Sunday afternoon as the Boeing 767 was landing. The FAA said the plane landed safely after a flight from Venice, Italy. United did not immediately respond to an email message seeking comment Sunday evening.

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Studio estimates on Sunday say "The Devil Wears Prada 2" has topped the box office with $77 million in the U.S. and Canada and $156.6 million internationally. Women drove the success, making up 76% of ticket buyers. The sequel, featuring Anne Hathaway and Meryl Streep, sees Andy Sachs working again for Miranda Priestly. Critics had mixed reviews, but 74% of viewers would recommend it. The film cost $100 million to produce, a significant increase from the original. Meanwhile, the Michael Jackson biopic "Michael" took second place with $54 million. This weekend kicks off Hollywood's critical summer movie season.

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Police in eastern Austria say a 39-year-old suspect has been arrested after rat poison turned up in some HiPP baby food jars on supermarket shelves in central Europe. The company recalled some of its baby food in Austria, the Czech Republic and Slovakia after the case came to light last month. It said in a statement Saturday it was “greatly relieved” by the arrest. Authorities said previously they believe the tampering occurred in 6.7-ounce jars of baby food made with carrots and potatoes for 5-month-olds that were sold from SPAR supermarkets in Austria.

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The U.S. dollar has dropped about 10% against a basket of other major currencies since early 2025. That shift is starting to show up in everyday costs: A weaker dollar means Americans get less when traveling abroad and may pay more for imported goods like food, fuel and electronics. Economists say the effect on prices is usually modest, but it can add up, particularly when stacked on other factors, including inflation, tariffs and a spike in fuel costs due to the Iran war. President Donald Trump has openly supported a weaker dollar, arguing it helps American industry, and some executives agree, saying it's boosted overseas business.

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A group of landlords are hoping to settle with the federal government over what they say are billions of dollars in losses due to the federal eviction moratorium in place for nearly a year during the pandemic. More than 1,500 landlords across the country are part of a federal lawsuit that argues the eviction policy enacted by the Centers for Disease Control and Prevention violated the Fifth Amendment by unlawfully using their property without compensation. Lawyers for the plaintiffs are hoping to recoup as much as $1.5 billion — a fraction of the estimated tens of billions of dollars that the industry lost.

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President Donald Trump says he is reviewing a new Iranian proposal to end the war but expressed skepticism it would be acceptable. He mentioned this on Saturday before boarding Air Force One. Iran reportedly shared a 14-point proposal via Pakistan. Trump rejected a previous proposal this week, but conversations continue, and a three-week ceasefire is holding. Meanwhile, the health of imprisoned Iranian rights lawyer Narges Mohammadi is at high risk, according to her family. The U.S. has warned shipping companies about possible sanctions for paying Iran to pass safely through the Strait of Hormuz. Iran has also hanged two men convicted of spying for Israel.

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The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E. Feliciano. The family of late owner Peter Seidler formally announced the deal Saturday. The sale must still be approved by Major League Baseball. The deal with private equity billionaire Feliciano and his wife took shape last month at an MLB-record valuation of $3.9 billion. The Padres’ announcement of the deal didn’t give specifics on the members of the investor group or the purchase price. Seidler’s family began to explore a sale of the Padres last November, two years after the death of the popular Peter Seidler, who became the Padres’ primary owner in 2020.

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The collapse of the U.S.-based Spirit Airlines may mark the end of an era for travelers with a certain financial sensibility. But if you’ve been snagged in their now-defunct flight schedule, here are some things to know on how to get home, and get whole. Look for “rescue fares” and reduced prices on flights from other airlines including American Airlines, United Airlines, Delta Air Lines, JetBlue Airways, Frontier Airlines and Southwest Airlines. Save documentation and request refunds as soon as possible. Employees should be granted travel benefits to get home, and airlines are offering preferential interviews.

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Berkshire Hathaway’s new CEO Greg Abel opened the first annual meeting without Warren Buffett on stage Saturday. Abel was promoted to CEO in January. Thousands of people again attended the meeting, but the Omaha arena where the event is held was only a little over half full. The meeting began with a video tribute to Buffett that was filled with clips from the previous 60 annual meetings for the conglomerate. Buffett surprised shareholders a year ago at the end of the meeting when he announced he would step down. Buffett took the microphone briefly to endorse Abel and praise Apple CEO Tim Cook who helped Berkshire's $35 billion investment in Apple a decade ago generate $185 billion for Berkshire.

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Building trades unions have long been considered a voice of the American worker. But they now are intertwined with the richest companies in the world as they create America’s artificial intelligence economy. Unionized workers are employed on massive data center projects and scrambling to recruit new apprentices to feed demand. Unions are allies of tech giants and tech-friendly government officials, helping counter fierce opposition in communities and hostile legislation in Congress and legislatures. For their part, tech execs talk of needing to train hundreds of thousands more skilled workers and spend millions on training programs.

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Hundreds of years ago, Yemen helped introduce the world to coffee. Lately, the mountainous, war-ravaged country that borders Saudi Arabia is exporting something else: its coffee culture. Yemeni coffeehouses are opening at a rapid pace across the U.S. Restaurant consulting company Technomic says the number of cafes run by six major chains that serve Yemeni-style drinks grew 50% last year to 136, and that doesn't include smaller chains and independent cafes. Yemeni coffeehouses are meeting the moment for several reasons. They stay open late and provide a place to socialize for the growing number of U.S. adults who don’t drink alcohol. Americans are also seeking out global flavors.

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President Donald Trump has taken a shine to the government taking stakes in the private sector. But his administration took a pass on bailing out troubled Spirit Airlines. The discount carrier ceased operations Saturday. Trump had said the government was interested in a stake in the carrier “if it's a good deal.” Under Trump, the government earlier invested in Intel and U.S. Steel and had made other deals that go against the traditional Republican position about Washington picking winners and losers. Critics say Trump's deals reflect his transactional nature. Others see some logic in competing against heavily subsidized Chinese manufacturers.

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California Gov. Gavin Newsom's $20 billion Delta tunnel project has cleared a significant hurdle, but it still has major obstacles to overcome. The plan aims to reroute water from the Sacramento River to a reservoir, addressing water supply issues in California. Delta communities oppose the project, fearing it will harm the environment and local farms. Last week, the Delta Stewardship Council voted to require the Department of Water Resources to address two challenges. Newsom hailed the decision as progress, but other obstacles loom. Court rulings have upended financing plans, state regulators have yet to weigh in on critical water rights decisions, and water agencies are still deciding whether the tunnel will be worth the cost.

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President Donald Trump says his administration is still weighing a taxpayer-funded takeover of Spirit Airlines “but only if it's a good deal” for the government. Trump didn't provide details but said an announcement could come as soon as later Friday or Saturday. Lawmakers from both parties and members of the president's administration have criticized the idea of using taxpayer funds to keep the ultra-low cost airline afloat. Speculation around the likelihood of a deal emerging has mounted every day that passes without a resolution. An airline spokesperson declined to comment and says “Spirit is operating as usual.” Some U.S. airlines, meanwhile, say they will step in to support Spirit customers if the airline goes under.

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Profit for the two largest oil companies in the U.S. tumbled during the first quarter, a three-month period in which the price of crude and gasoline rocketed higher. It's a setback on paper only, however, the result of financial hedges that backfired after the U.S. and Israel launched attacks on Iran in late February. Exxon Mobil and Chevron reported quarterly results on Friday, with adjusted profits for both companies topping Wall Street expectations. The shares of both companies, up sharply this week, ticked higher before the opening bell.

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The Pentagon says it has reached deals with seven tech companies to use their artificial intelligence in its classified computer networks This will allow the military to tap into AI-powered capabilities to help it fight wars. The Pentagon said Friday that Google, Microsoft, Amazon Web Services, Nvidia, OpenAI, Reflection and SpaceX will provide their resources to help “augment warfighter decision-making in complex operational environments.” Notably absent from the list is Anthropic, after its legal fight with the Trump administration over the ethics of AI usage in war. The Defense Department has been rapidly accelerating its use of AI. But AI has already raised concerns that its use could invade Americans’ privacy or allow machines to choose targets on the battlefield.

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The U.S. stock market set more records after Apple, Estee Lauder and others joined the list of companies delivering fatter profits for the start of the year than analysts expected. The S&P 500 climbed 0.3% Friday to its latest all-time high and closed out a fifth straight winning week. That’s its longest such streak since 2024. The Dow Jones Industrial Average dipped 0.3%, and the Nasdaq composite added 0.9% to its own record. Apple led the way after delivering better profit than expected. Easing oil prices also helped steady the stock markets around the world that were still open on the May Day holiday.

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The U.S. stock market is rising toward more records after Apple, Estee Lauder and others joined the list of companies delivering fatter profits for the start of the year than analysts expected. The S&P 500 rose 0.5% Friday and added to its all-time high set the day before. The Dow Jones Industrial Average fell 40 points, and the Nasdaq composite added 1% to its own record. Easing oil prices also helped to steady the stock markets around the world that are still open on the May Day holiday. Treasury yields fell in the bond market.

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The head of the European Parliament trade committee calls President Donald Trump’s tariff hike on European Union automobiles “unacceptable.” Committee Chair Bernd Lange says the Trump administration “keeps breaking its commitments,” including on import taxes for steel and aluminum products. Trump said Friday he'll increase the tariffs charged on cars and trucks from the EU next week to 25%, which could jolt the world economy. The Republican president says the EU is not complying with a fully agreed to trade deal, though he hasn't fleshed out his objections. Trump and European Commission President Ursula von der Leyen had agreed to the trade deal last July. It set a 15% tariff on most goods.

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WASHINGTON (AP) — Treasury Secretary Scott Bessent winces at the allure of easy money — whether it’s lottery tickets, buy now, pay later loans or the promise of a crypto windfall — warning that the get-rich-quick mindset often leads Americans farther from financial stability, not closer to it.

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Profit for the two largest oil companies in the U.S. tumbled during the first quarter, a three-month period in which the price of crude and gasoline rocketed higher. It’s a setback on paper only, however, the result of financial hedges that backfired after the U.S. and Israel launched attacks on Iran in late February. Exxon Mobil and Chevron reported quarterly results on Friday, with adjusted profits for both companies topping Wall Street expectations. The shares of both companies, up sharply this week, ticked higher before the opening bell.

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Clinicians who treat gambling disorders are concerned about their patients turning to prediction markets. Two gambling addicts who spoke to The Associated Press say they had relapses on prediction markets after they took legal action to protect themselves from the allure of sports betting. Their stories reflect what experts say they see with some of their clients. The rapid growth of prediction markets has sparked a high-stakes debate that is playing out in courts and legislatures all over the country. For clinicians and addicts, when it comes to sports betting and prediction markets, the end result is virtually the same.

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President Donald Trump says he's removing certain tariffs on Scotch whisky after this week's White House visit by King Charles III and Queen Camilla of the United Kingdom. Trump posted on social media Thursday that the royal couple got him to do "something that nobody else was able to do, without hardly even asking!" Trump says people had wanted this change, especially with regard to the wooden barrels in which the spirits of Scotch and bourbon can be aged. His post left it unclear if the tariffs were being lifted on bottles of Scotch or on the materials used to produce alcohol in both countries. The White House did not respond to emails seeking clarification.