Asian stocks jump on renewed hopes of Iran war ending
HONG KONG (AP) — Asian shares are sharply higher after U.S. stocks soared to their best day in almost a year over renewed hopes that the Iran war could soon end. South Korea's Kospi was up 6.4% and Tokyo's Nikkei 225 rose 4% in early trading Wednesday. Oil prices have steadied. The renewed optimism comes after U.S. President Donald Trump said the United States will be done attacking Iran probably within two to three weeks. Trump is expected to deliver an address on the Iran war Wednesday evening. On Wall Street, the S&P 500 jumped 2.9% Tuesday for its largest gain since May. The Dow Jones Industrial Average surged 2.5%, and the Nasdaq composite leaped 3.8%.
The war in Iran has shaken up financial markets. See the impact of the conflict, in five charts
NEW YORK (AP) — After meandering for a couple of months, financial markets endured numerous frenzied swings during March as the war in Iran raged. The price of a barrel of Brent crude oil is above $100 for the first time since the summer of 2022 and gasoline prices have soared. In the stock market, investors’ attention is squarely on how long the Iran war will last, how much inflation could jump and what that could mean for the economy. Typically investors turn to the bond market for safety when a global event threatens the economy. But in this case, the chance of a spike in inflation caused a jump in Treasury yields.
Oil and gas prices won't immediately return to normal even if the Iran war ends, the EU warns
NICOSIA, Cyprus (AP) — The European Union's energy commissioner says skyrocketing oil and gas prices in Europe as a result of the ongoing Iran war won’t return to normal levels any time soon, even if peace is declared tomorrow. Commissioner Dan Jørgensen said on Tuesday that although there are no immediate oil and gas supply shortages in the 27-member bloc, there’s pressure on diesel and jet fuel supply as well as “increasing constraints” in global gas markets that are resulting in higher electricity prices. He said the EU’s executive arm is preparing a string of measures designed to help families and businesses weather the huge spike in oil prices that have resulted in about a 70% price hike for gas and 60% for oil in Europe.
US appeals court denies bid from families of Boeing 737 Max crash victims to reopen criminal case
A federal appeals court in the United States has denied a request to reopen a criminal case against Boeing tied to two fatal crashes of 737 Max jets. Dozens of families of the 346 people killed in the crashes argued the Justice Department failed to meaningfully consult them before reaching a deal last year with Boeing that dismissed a criminal conspiracy charge linked to a faulty flight-control system on the 737 Max. The 5th Circuit Court of Appeals ruled Tuesday that prosecutors didn't violate the Crime Victims’ Rights Act. Lawyer Paul Cassell said the ruling allows Boeing to escape accountability. Boeing declined to comment Tuesday but has said it regrets the crashes and has compensated families. The crashes in 2018 and 2019 involved Lion Air and Ethiopian Airlines flights.
Business sentiments in Japan improving despite Iran worries
TOKYO (AP) — A quarterly survey by the Bank of Japan shows business sentiment among major Japanese manufacturers improved slightly. The so-called diffusion index in the closely watched “tankan” report rose to 17 in March from 16 for the fourth straight quarter of improvement. The survey released Wednesday comes even as worries grow about Japan’s economic growth and the oil supply because of the war in Iran. The survey is an indicator of companies foreseeing good conditions minus those feeling pessimistic. The index for large non-manufacturers, such as the service sector, stood unchanged.
Nevada lithium mine clears major hurdle despite conservationists' worries for rare wildflower
LAS VEGAS (AP) — A federal judge ruled against conservation groups in their efforts to block a proposed lithium-boron mining project in Nevada. Conservationists argue the project would harm an endangered wildflower called Tiehm's buckwheat, a perennial plant that grows in just 10 acres of Esmeralda County, located between Las Vegas and Reno. The Australia-based company Ioneer expects to operate the mine for over 77 years and will contribute to the U.S.' efforts to expand its domestic manufacturing of lithium.
FAA reduces SFO arrivals, setting up delays amid runway work and safety concerns
Travelers should expect delays when they fly through San Francisco International Airport after the Federal Aviation Administration this week cut a third of its arrivals because of safety concerns and runway construction. The rule change announced Tuesday went into effect this week and means the airport will go from 54 arrivals an hour to 36. The San Francisco safety concerns are unique to that airport because of how close the parallel runways are and how complicated the airspace is with several surrounding airports.
South Africa hit by record diesel price hikes despite fuel levy cut
JOHANNESBURG (AP) — South Africans have rushed to buy fuel as the country braces for record price hikes tied to the US-Iran-Israel conflict. Motorists lined up at gas stations on Tuesday before new prices take effect at midnight. Finance Minister Enoch Godongwana announced a 3 rand or $0.18 cut per liter in the fuel levy to soften the blow. But diesel rose by 7.51 rand or $0.44 a liter and gasoline by 3.06 rand or around $0.20. Fuel shortages have added to the stress and some stations have been rationing sales to customers. Bus services in the capital Pretoria were disrupted because of fuel shortages at depots.
Lawsuit says Taylor Swift's 'Showgirl' pose comes too close to the work of a real one
LOS ANGELES (AP) — A real-life Las Vegas showgirl is suing Taylor Swift, saying the branding surrounding her album “The Life of a Showgirl.” Maren Wade filed the lawsuit against Swift in federal court on Monday. Wade began writing a newspaper column called “Confessions of a Showgirl” in 2014 and turned it into a live touring show. Her lawsuit says Swift's team knowingly stepped on her trademark and the huge wave of her popularity has effectively erased it. The suit seeks an injunction stopping Swift from using the brand, and financial damages to be determined later. A representative for Swift declined comment.
US consumer confidence inches up despite soaring gas prices brought on by war in Iran
WASHINGTON (AP) — U.S. consumer confidence inched higher in March despite soaring energy prices brought on by the war in Iran. The Conference Board said Tuesday that its consumer confidence index rose modestly to 91.8 in March from 91 in February. The board said that while rising costs due to tariffs and spiking oil prices induced by the conflict in the Middle East did not affect the topline confidence reading, there was increasing pessimism in other measures of the survey, including expectations of higher inflation. Respondents’ comments about oil, gas and war spiked and consumers’ 12-month inflation expectations surged to levels last seen in August 2025.
