Oil and gas supplies could take months to return to normal after Iran deal, energy experts say
NEW YORK (AP) — Pakistan announced that the U.S. and Iran reached an agreement to end the war and open the Strait of Hormuz. But that doesn’t mean high oil and gasoline prices and energy supply problems will be solved overnight. Energy experts say it will likely be months before energy companies can resume operations to the point where they're able to meet the world’s demand. It will take a long time for ships stranded in the Persian Gulf to reach their destinations. And companies need to be confident that peace will last before they send in ships or restart oil production.
Skydiving plane crash investigations often reveal poor maintenance and weak safety oversight
Poor maintenance is often a factor when skydiving planes crash, like one did in Missouri on Sunday, and the National Transportation Safety Board has said in past investigations that weak oversight of the industry can allow problems to go unnoticed. It is far too soon to know what caused this weekend’s crash that happened shortly after a plane took off from a small airport about an hour south of Kansas City. Twelve people died in that crash. Aviation safety expert Jeff Guzzetti says that too often a skydiving crash investigation reveals lax maintenance and a weak safety culture.
Tentative deal on ending the Iran war sends stocks soaring while oil prices fall
BANGKOK (AP) — Shares have soared in Asia after a tentative deal was announced on ending the Iran war and reopening the Strait of Hormuz. Benchmarks in Tokyo and Seoul gained more than 5% early Monday. Oil prices fell more than $3 a barrel. U.S. President Donald Trump confirmed the deal and authorized an end to the U.S. naval blockade of Iranian ports. But it may take months for oil prices to stabilize after the disruptions from the war caused them to surge, pushing costs up gasoline and many other products. The future for the S&P 500 gained 1%. U.S. stocks rose Friday after oil prices fell and SpaceX soared in its highly anticipated debut on Wall Street.
Trump tried to block state AI regulations, but some states are forging ahead
HARRISBURG, Pa. (AP) — Six months after President Donald Trump warned states not to regulate artificial intelligence, they are increasingly doing just that. States are scrutinizing how chatbots interact with children, how employers use AI and what developers must do to prevent an AI-caused catastrophe. State lawmakers have stepped back from earlier, wider-ranging attempts to regulate AI that were vetoed or otherwise derailed by governors. But they are returning with legislation that is more targeted. The White House doesn’t seem to be making good on its threat to sue over state AI laws or withhold money. Rather, it says it wants to enact its policy framework through Congress. That includes preempting state laws that target AI development, although not laws regulating AI use.
You can ignore AI giants like SpaceX, but your 401(k) won't
NEW YORK (AP) — Think you can ignore all the hubbub around SpaceX, Elon Musk and IPOs? Your 401(k) won’t. Musk’s rocket company launched 19.2% higher in the first day of trading for its stock Friday, making it worth a total of $2.1 trillion. Whether or not you believe it deserves to be worth more than Exxon Mobil, Bank of America and Coca-Cola combined, the collective market does. And by virtue of having that big a value, SpaceX will soon join some high-profile stock indexes. That matters for investors and their 401(k) accounts because they’re depending more than ever on funds that simply mimic these indexes.
Why Trump and other G7 leaders meeting without China might be a mistake
PARIS (AP) — China's absence from G7 summits seems increasingly odd given its global economic influence. The G7, formed in 1975, includes only democratic nations, which excludes China under its authoritarian government. Analysts say that expanding the club to include China could disrupt the group's cohesion, although U.S. President Donald Trump has mused that it could be a good idea. The group’s past experience with Russia also could argue against involving China. Still, China’s economic might will be a priority topic when G7 leaders meet in France this week.
The world wants more high-protein products, but there's not enough whey to go around
Global consumers want more protein in every bite, but the dairy industry is struggling to give it to them. In the last few years, food companies have added whey protein concentrate into everything from Pop-Tarts to potato chips to meet growing customer demand. Market research company NielsenIQ says the average U.S. supermarket now has 38,708 products advertising their protein content. The wide assortment of protein powders and protein-enriched products is causing shortages of food-grade whey protein and pushing wholesale prices to record levels. Whey protein concentrate is a powdered byproduct of cheese-making. The U.S. has reduced its exports of the commodity due to the domestic hunger for all things high-protein.;
Protesters in Geneva clash with police ahead of the G7 summit in nearby France
GENEVA (AP) — Riot police fired tear gas and water cannons in clashes with stone-throwing youths during a protest on Sunday in Geneva against the G7 group of wealthy nations. It comes a day before G7 leaders including U.S. President Donald Trump hold a summit in nearby France. Environmentalists, women's rights advocates and pro-Palestinian activists led the way. Police said roughly 20,000 protesters overall included 600 “Black Bloc” militants. Swiss and French authorities have deployed thousands of police for the summit starting Monday. Activists have expressed frustration with Trump and other G7 leaders over various issues.
Tyra Banks sues Netflix over 'America's Next Top Model' documentary, alleging defamation
LOS ANGELES (AP) — Tyra Banks has filed a defamation lawsuit against Netflix and the directors of “Reality Check: Inside America's Next Top Model.” She contends in the lawsuit filed Saturday that they edited her interviews to create a false narrative. Banks says she was interviewed for over three hours, but the footage was cut to 16 minutes and misrepresented her statements. Her lawyers allege that the edits suggest Banks allowed a contestant to be assaulted and used it for ratings. Banks is seeking damages and an injunction against using her image on a related album. Emails seeking comment were sent Sunday to representatives for the defendants and for Banks.
OpenAI hit with multistate probe into possible user harm as its IPO looms
NEW YORK (AP) — OpenAI received a subpoena from several states as part of a probe into the safety of customers using its chatbot as it prepares to offer stock to the public for the first time. The company behind the popular ChatGPT issued a statement saying it will respond to the inquiry “constructively” and that it already has measures to protect customers. The chatbot has drawn criticism for allegedly offering encouraging words to users thinking of killing themselves or engaging criminal acts. It also has come under scrutiny for how it uses health data and other personal information of its customers.
