US stocks swing as oil prices keep climbing because of the war with Iran
NEW YORK (AP) — U.S. stocks are swinging again as oil prices keep climbing because of uncertainty about when the war with Iran could end. The S&P 500 inched up by 0.1% Monday. The Dow Jones Industrial Average added 164 points, and the Nasdaq composite fell 0.1%. That followed gains for stock markets in much of Europe, but caution was still prevalent throughout financial markets. The S&P 500 quickly gave up nearly all its gain of 0.9% from the start of trading. Stocks in some Asian markets fell sharply, while oil prices rose more than 2%. Treasury yields eased in the bond market.
Kosovo, one of Europe's poorest countries, struggles as Iran war drives up fuel prices
PRISTINA, Kosovo (AP) — Kosovo is one of the Europe's poorest countries and struggles with a steep rise in fuel prices caused by the Iran war. A company that produces potato chips and other snacks for domestic consumption and export says a price hike affects both planting and distribution. Neighbors like Serbia, Hungary and Romania have imposed measures to mitigate effects of the crisis, but Kosovo's government is yet to act. Kosovo's economy has struggled since the country declared independence from Serbia in 2008 after a war.
Worries about global economic pain deepen as the war in Iran drags on
WASHINGTON (AP) — U.S. and Israeli attacks on Iran have darkened the outlook for the world economy. The conflict has driven up oil, natural gas and fertilizer prices and sent global stock markets reeling. Developing countries have been forced to ration fuel and subsidize energy costs to protect their poorest. Ongoing strikes and counterstrikes on Persian Gulf refineries, pipelines, gas fields and tanker terminals threaten to the prolong the global economic pain for months, even years. There previously was optimism the world economy could shrug off damage from the Iran war. But those hopes are fading as threats to the Gulf’s energy infrastructure continue.
Some wait times at airport bottlenecks are easing with TSA paychecks promised
Wait times are improving at some U.S. airports now that Transportation Safety Administration workers have been promised their first paychecks in weeks. How long it will take for long security lines to consistently return to normal remains unknown. Bottlenecks disappeared at airports in Atlanta and Houston on Monday morning. But wait times pushed past two hours at New York’s LaGuardia Airport, and Baltimore-Washington International Airport continued to advise travelers to arrive three hours before departure. President Donald Trump on Friday ordered the Department of Homeland Security to pay TSA officers immediately to ease the lines.
Bills to pay FAA and TSA workers during shutdowns get introduced but keep stalling in Congress
Members of Congress have repeatedly introduced bills to ensure the federal employees who control air traffic and conduct airport security screenings get paid during government shutdowns. The Keep America Flying Act. The Keep Air Travel Safe Act. The Aviation Funding Stability Act. None passed in time to keep essential aviation workers from missing paychecks. President Donald Trump on Friday offered a short-term fix for the empty pockets of TSA agents who have gone unpaid since funding lapsed for the Department of Homeland Security in mid-February. Labor unions, airline executives and industry groups are urging Congress to provide a permanent solution by acting on any of the pending pay-protection bills with bipartisan support on paper.
French police thwart a suspected bombing outside a Bank of America building in Paris
PARIS (AP) — French authorities say that police have stopped a suspected bombing outside a Bank of America building in Paris. An investigation has been opened, and investigators have placed one person in custody. RTL radio said Saturday that officers spotted two suspects near the building overnight. One suspect tried to light a device. RTL said that the second suspect got away. Interior Minister Laurent Nuñez praised the rapid police response. He said that security forces have stayed on high alert amid international tensions.
Disney's new CEO opens World of Frozen in Paris as he showcases the empire that made him
CHESSY, France (AP) — Disneyland Paris has opened a huge new “Frozen” land as the centerpiece of a major park makeover. Disney unveiled World of Frozen on Sunday and renamed Walt Disney Studios Park as Disney Adventure World. The opening gives new CEO Josh D’Amaro his first big international moment since taking the top job in March. The expansion is the biggest in the resort’s 34-year history. In the park, guests ride Frozen Ever After, meet Anna and Elsa, see new attractions, dining and a lagoon show.
A Houthi missile attack on Israel stokes fears of renewed Red Sea shipping strikes
CAIRO (AP) — Iranian-backed Houthi rebels in Yemen have launch missiles toward Israel and raised fears of new attacks on Red Sea shipping. The group is a key part of Iran’s regional network. Analysts warn the Houthis could restart strikes on commercial vessels. That adds risk as the Strait of Hormuz stays effectively closed. The Red Sea route is vital for oil, container cargo and liquefied natural gas. Past Houthi attacks had sunk ships and killed sailors, before a U.S. deal paused them.
Sysco expands into high-margin restaurant segment with $29 billion deal
NEW YORK (AP) — Sysco, the nation’s largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion. The acquisition announced Monday would create a closer link between Sysco and customers that rely on Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.” Sysco serves more than 700,000 restaurants, hospitals, schools, hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired on a regular basis to cover needs that these locations know they’ll need. Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they’ve purchased from suppliers like Sysco.
Navy shipyard workers approve a contract deal with Bath Iron Works, ending weeklong strike
PORTLAND, Maine (AP) — Hundreds of employees at one of the U.S. Navy’s biggest shipbuilding contractors have voted to approve a deal with Bath Iron Works, ending a weeklong strike. The shipyard says members of the Bath Marine Draftsmen’s Association ratified a new four-year collective bargaining agreement Saturday that goes into effect immediately. Approval followed an hourslong union meeting at a high school in Maine. The shipyard and the union had negotiated for weeks without resolving differences before the strike began. The company has not responded to questions about whether the strike slowed production.
