Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools
BOSTON (AP) — Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to deliver a broad defense of independent institutions while accepting the John F. Kennedy Profile in Courage Award in Boston. Powell, who frequently clashed with President Donald Trump during his eight years leading the central bank, warned against political interference in monetary policy and described the Federal Reserve’s independence as a “priceless asset.” He also defended universities, courts and Congress as pillars of democracy. The award also honored residents of Minnesota’s Twin Cities for their actions during a federal immigration crackdown that led to thousands of arrests and two deaths.
Iran war forces farmers to seek fertilizer alternatives from cow dung to compost
DAKAR, Senegal (AP) — Governments around the world are being pressed to find and support alternatives to reduce dependency on chemical fertilizers as the Iran war drives up prices. The Gulf region produces 30% of globally traded chemical fertilizer. That’s caused concerns about food supply. Experts say the shift away from chemical fertilizer could benefit the environment since its production and use cause significant global greenhouse gas emissions, the main driver of climate change. In Senegal, farmer Abou Sow has turned to organic compost. In Brazil and India, farmers are exploring biofertilizers and natural farming. But there are challenges including in scaling up availability.
Soaring prices during the Iran war jeopardize travel to tourism-dependent countries in Asia
BANGKOK (AP) — The war in Iran threatens to disrupt international travel to Asia, where the tourism industry has yet to fully recover from the the COVID‑19 pandemic. Airspace closures, the rerouting of flights around the Middle East and elevated jet fuel costs are driving up airfares, causing flight cancelations and lengthening travel times on key routes between Europe and Thailand, Cambodia, Vietnam and other destinations. A recent report by the United Nations Development Program says higher airfares and weaker travel confidence can quickly affect livelihoods and public revenues in economies where visitor arrivals are a major source of jobs, income and foreign currency.
China’s factory activity slows in May, raising questions over its economy
BEIJING (AP) — China has reported that its manufacturing activity has slowed in May. An official survey released by the National Bureau of Statistics said Sunday that the manufacturing purchasing managers index moderated to 50 from 50.3 in April. A PMI reading above 50 indicates expansion, and below 50 reflects contraction. Economists say China has been relatively protected from the fallout of the three-month old Iran war, given its ample oil reserves and diversified sources for energy. Exports have been resilient, buoyed by technology-related shipments driven by the artificial intelligence boom. However, some analysts are cautioning that high oil prices could still dent China's economy later in the year.
A United Airlines flight to Spain turns back to Newark after a possible security threat
A United Airlines flight from Newark to Spain turned around midflight Saturday due to a possible security threat. The flight, carrying 190 passengers and 12 crew members, returned to Newark because of a suspicious “four-letter” Bluetooth device name. Passengers evacuated while Port Authority police swept the aircraft, and passengers had to be rescreened by TSA and Customs before reboarding. The replacement flight took off early Sunday and landed in Spain that afternoon. The incident follows other recent security concerns with United Airlines, including a diverted domestic flight and a collision at Newark airport earlier this month.
Malaysia enforces ban on social media accounts for children younger than 16
KUALA LUMPUR, Malaysia (AP) — Malaysia has begun enforcing its ban on children under 16 having social media accounts. It's part of a global push to enhance online safety for young users. Starting Monday, platforms like Facebook and TikTok must implement age-verification systems or face fines. The rules set expectations for service providers to ensure age-appropriate safeguards. Australia, Brazil and Indonesia have similar bans. Malaysia's government aims to protect children from harmful content and excessive use. However, concerns about data privacy and the effectiveness of age-based restrictions remain.
AI helped a musician with Parkinson’s finish his new album when he could no longer play guitar
LONDON (AP) — Artificial intelligence is helping a London-based singer-songwriter continue writing and recording music after Parkinson’s disease largely took away his ability to play guitar. Samuel Smith relied on AI-powered song generators to create the demos for one track on his new album, “The Art of Letting Go.” He says the apps allowed him to convey his vision to the session musicians who recorded the song after his guitar skills deteriorated. AI music generators like Suno and and Udio use models trained on large datasets of recorded music and audio. The technology has divided the music industry and produced copyright infringement lawsuits. Smith gets it. He also thinks his experience demonstrates AI's potential to expand creative access.
Trump plans to appeal order allowing all importers that paid struck-down tariffs to seek refunds
NEW YORK (AP) — Businesses big and small have started receiving refunds after the U.S. Supreme Court ruled that President Donald Trump improperly imposed some tariffs on imported goods. But the Trump administration said on Friday that it would appeal a federal judge’s order making all companies that paid the duties eligible for refunds, not just the ones that filed lawsuits. U.S. Customs and Border Protection says the first refunds reached the bank accounts of successful applicants on May 12 and that it had accepted applications worth $85 billion for processing as of last week. The amount is about half of the $166 billion that CBP estimated the government owed more than 330,000 companies that paid the invalidated tariffs.
Trump claims he's making food more affordable but his examples ignore the big picture
WASHINGTON (AP) — In a Truth Social post on Wednesday, the president proclaimed “TRUMP’S MAKING FOOD AFFORDABLE,” and cited falling prices for a range of groceries, including avocados, fresh berries, and a variety of pantry staples. Yet just two weeks earlier the Labor Department had released inflation figures showing grocery prices up nearly 3% in April from a year earlier. So where’s the reality? The graphic shared by President Donald Trump may be correct about the specific items he listed. It’s hard to know because he used data that isn’t publicly available and he didn’t specify what time frame he used. But specific grocery items go up and down all the time, and his post ignores the broader reality consumers are facing at the supermarket.
SEC moves to repeal rule that requires companies to report greenhouse gas emissions and climate risk
WASHINGTON (AP) — In the latest action to undo Biden-era regulations on climate change, the Securities and Exchange Commission has proposed repealing a rule that requires some public companies to report their greenhouse gas emissions and the risks they face from global warming. The disclosure rule has been on hold since last year, after the commission said it was pausing its legal defense after legal challenges by business groups and Republican-led states. An SEC statement Friday said the disclosure rule exceeds the scope of the agency’s statutory authority and imposes an unnecessary burden on businesses. Environmental groups said eliminating the rule would leave investors without information they need to assess financial risks related to climate change.
