From unfilled gas tanks to fewer frills, retailers see US consumers rethink their spending
NEW YORK (AP) — U.S. consumers haven’t stopped spending since the Iran war drove up fuel prices. But company executives and retail analysts say many shoppers are reassessing what they buy and where. The behavior changes observed so far are subtle. They include drivers flocking to the fuel pumps at warehouse stores like Costco and Sam’s Club, but not filling up their tanks all the way. Market research firms say foot traffic is down at clothing and electronics stores. Executives from Walmart, McDonald’s and Dollar General have reported noticeable cutbacks by lower-income customers. Some economists and analysts expect a wider retrenchment as the cumulative impact of costlier gas, food and other products catches up with more people.
Donald Trump, Bernie Sanders and Sam Altman are all talking about public ownership in AI
WASHINGTON (AP) — OpenAI CEO Sam Altman has met with Sen. Bernie Sanders to discuss public ownership in AI companies — a meeting that highlighted the tension between AI powerhouses and policymakers. President Donald Trump also expressed interest in the idea, showing how the two politicians, fueled by populism, are embracing the concept. But concerns about AI's impact are growing, with backlash over data centers in local communities and job prospects. Policymakers are exploring AI regulation, with bipartisan efforts in Congress and oversight from the Trump administration.
FACT FOCUS: Is inflation a red state vs. blue state issue? It's increasing no matter how you cut it
WASHINGTON (AP) — Inflation is rising again, squeezing budgets and making essentials harder to afford. Inflation hit 3.8% in April, the highest in three years. Larry Kudlow asked Kevin Hassett about this on Fox Business. The director of the National Economic Council claimed inflation is “on a deep downward dive,” especially if blue states are excluded. However, experts say this is false. Inflation is high across all regions, driven by rising gas prices from Middle Eastern conflicts. The Labor Department’s data shows both blue and red states experiencing high inflation. Core inflation is also rising, contradicting Hassett’s claims of a downward trend.
Asian shares drop after plunge in Big Tech stocks gives Wall St its worst day in months
TOKYO (AP) — Asian shares have skidded after worries about Big Tech investments and rising odds for an interest rate hike gave U.S. stocks their worst day since October. Japan’s benchmark Nikkei 225 dropped 4% and the Kospi in Seoul was down 5.6% by midday Monday. The Japanese government revised the annualized economic growth rate to 1.8% for the first quarter this year, down from an earlier estimate of 2.1%. Oil prices surged as Israel said it attacked Iran after taking missile fire. On Friday, the S&P 500 sank 2.6% after a strong jobs report boosted expectations about the Federal Reserve raising rates this year. The Dow Jones Industrial Average fell 1.4%, while the Nasdaq composite slumped 4.2%.
A new exchange of fire with Iran in the Gulf tests the fragile ceasefire
CAIRO (AP) — Iran has fired ballistic missiles and drones toward Bahrain and Kuwait. That's according to Bahrain’s government. The U.S. said Saturday that it intercepted several aimed at Gulf allies and the Strait of Hormuz. Bahrain called on Tehran to stop what it called a “serious escalation.” Iran said it targeted the U.S. military and its foreign ministry accused the U.S. of attacking surveillance facilities on Qeshm Island. Tehran called it a violation of the fragile ceasefire. Meanwhile, the U.S. Treasury Department is considering allowing Gulf allies to tap into frozen Iranian assets to pay for damages they sustained in the war.
Broken speaker? Finicky zipper? Anticonsumerist Repair Cafes urge you to fix it instead of pitch it
NEW PALTZ, N.Y. (AP) — Repair Cafes are part of a new brand of anticonsumerism. The cafes and other efforts try to offer an alternative to mass-produced, disposable goods that have dominated the economy for the last half-century. Repair Cafes are free events where volunteers with technical know-how help neighbors fix household items. They started in the Netherlands with a single cafe in 2009 and grew to a global nonprofit. At a recent event in New Paltz, New York, volunteers helped attendees fix items from lamps and knives to sound mixers and balky zippers. There’s also the Buy Nothing Project and a growing number of tool-lending libraries. All are dedicated to repairing, trading, and giving instead of buying and selling.
Armenians vote in general election under Russian pressure aimed at preventing a drift toward West
YEREVAN, Armenia (AP) — Armenians are voting in a parliamentary election as the government seeks to loosen ties with Moscow and increase cooperation with the West. Two political blocs and 17 parties are running in the election on Sunday. Prime Minister Nikol Pashinyan and his governing party are looking for a strong mandate for a new geopolitical course. Most experts predict Pashinyan will come out ahead. But opposition parties support closer ties with Russia and some are vocally pro-Russia. Russian officials recently have imposed restrictions on Armenian exports. Russian President Vladimir Putin along with other senior officials have made veiled threats.
Health workers at the epicenter of Congo's Ebola outbreak labor with little pay or rest
MONGBWALU, Congo (AP) — Health workers inside the epicenter of Congo's outbreak say they are working with little pay or rest. The mining town of Mongbwalu attracts a huge number of laborers for large gold mines who live in crowded mining camps. That makes the transmission of the disease easier. The virus spreads through close contact with sick or deceased patients’ bodily fluids. Congolese authorities said Sunday that there are 488 confirmed cases including 86 deaths. The Central African nation on Thursday recorded 71 new cases. Authorities say that's a sign of active community transmission. There have been 19 confirmed cases and two deaths in neighboring Uganda.
China can build humanoids at scale. The hard part is finding enough buyers
HONG KONG (AP) — Chinese humanoid robots are making waves with their ability to do backflips, direct traffic and even make coffee. As such robots become more advanced, Chinese companies are looking for ways to profit from them. The government helped support their development, and startups say they have thousands of orders from both public and private companies looking to deploy them as China grapples with an aging population and rising labor costs. China’s domestic market appears to show strong demand for robots in various sectors from industrial to retail. While the U.S. excels in development of AI-powered robot “brains,” China leads in mass production and hardware and soon may be able to cut prices sharply.
Fuel prices are shaping summer plans as US boaters get ready to hit the water
DEXTER TOWNSHIP, Mich. (AP) — Motorists and airline passengers aren't the only travelers thinking about high fuel prices as summer vacations near. Recreational boaters are feeling a pinch from the Iran war too. The ethanol-free gasoline that many boats prefer is even more expensive than regular gas. So is diesel fuel, which also powers some boats. The National Marine Manufacturers Association says its conversations with boaters indicate that most still plan to head out on the water this year but fuel costs are curtailing some people's plans. Businesses like fishing charters are deciding whether to add fuel surcharges to make up for their higher costs.
