For foreign workers in the Mideast, risk from the Iran war collides with economic strain at home
HANOI, Vietnam (AP) — For millions of foreign workers in the Mideast, the Iran war has made life even more precarious. At least 28 were killed in missile and drone attacks before a fragile ceasefire took effect in early April. Now they face an even sharper version of a long-standing dilemma: Keep working in the Gulf, where wages are much higher, hoping that the truce endures, or return to already poor countries where prices have soared because of the conflict.
Asian markets are mixed and oil is steady after Wall Street hits records
Shares are mixed in Asia after U.S. stocks set more records, powered by strong profits for major companies. Oil prices held steady after U.S. President Donald Trump said the U.S. would help ships leave the Strait of Hormuz, starting on Monday. Iran has rejected the plan, but Trump also said talks with Iran could lead to positive outcomes. On Friday, the S&P 500 climbed 0.3% to another all-time high, closing out a fifth straight winning week. The Dow Jones Industrial Average dipped 0.3%, and the Nasdaq composite added 0.9% to its own record. Apple led the way after delivering better profit than expected.
OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz
VIENNA (AP) — Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi Arabia and Russia — say they’ve decided to a modest increase in production starting in June as part of a commitment to “market stability.” The commitment to raise production by 188,000 barrels per day comes after a virtual meeting they held on Sunday. The move is mostly symbolic because it comes as Iran blocks on the Strait of Hormuz at the mouth of the Persian Gulf, where about a fifth of the world’s trade in oil and natural gas typically passes in the midst of the U.S.-Israeli war.
Spirit Airlines shutdown: What to do to get home and get refunds
SEATTLE (AP) — The collapse of the U.S.-based Spirit Airlines may mark the end of an era for travelers with a certain financial sensibility. But if you’ve been snagged in their now-defunct flight schedule, here are some things to know on how to get home, and get whole. Look for “rescue fares” and reduced prices on flights from other airlines including American Airlines, United Airlines, Delta Air Lines, JetBlue Airways, Frontier Airlines and Southwest Airlines. Save documentation and request refunds as soon as possible. Employees should be granted travel benefits to get home, and airlines are offering preferential interviews.
Landlords want to be paid for pandemic losses and hope to reach a deal with the Trump administration
BOSTON (AP) — A group of landlords are hoping to settle with the federal government over what they say are billions of dollars in losses due to the federal eviction moratorium in place for nearly a year during the pandemic. More than 1,500 landlords across the country are part of a federal lawsuit that argues the eviction policy enacted by the Centers for Disease Control and Prevention violated the Fifth Amendment by unlawfully using their property without compensation. Lawyers for the plaintiffs are hoping to recoup as much as $1.5 billion — a fraction of the estimated tens of billions of dollars that the industry lost.
How a weaker dollar is quietly making life more expensive
NEW YORK (AP) — The U.S. dollar has dropped about 10% against a basket of other major currencies since early 2025. That shift is starting to show up in everyday costs: A weaker dollar means Americans get less when traveling abroad and may pay more for imported goods like food, fuel and electronics. Economists say the effect on prices is usually modest, but it can add up, particularly when stacked on other factors, including inflation, tariffs and a spike in fuel costs due to the Iran war. President Donald Trump has openly supported a weaker dollar, arguing it helps American industry, and some executives agree, saying it's boosted overseas business.
FACT FOCUS: Why nearly 4.3 million people are no longer receiving food stamps
Agriculture Secretary Brooke Rollins this week attributed a multimillion-person drop in the number of participants receiving food stamps through the Supplemental Nutrition Assistance Program to the tamping down of fraud and an improved economy. It is true that SNAP beneficiaries decreased by nearly 4.3 million from January 2025 to January 2026, according to preliminary government data released by the Agriculture Department. However, experts say fraud detection and economic upturns are not the primary reasons. Instead they say the key drivers are new requirements mandated by a massive tax and spending cut bill Republicans pushed through Congress last summer.
FEMA tells court it is offering jobs back to employees who were let go in January
The Federal Emergency Management Agency has begun offering new appointments to disaster workers whose contracts were not renewed in January. This move reverses a controversial decision that led to a lawsuit by labor unions, scientific groups, and local governments. U.S. Attorney Craig H. Missakian informed a U.S. District Court in San Francisco about the new appointments Friday. The decision follows months of uncertainty over the future of FEMA's term-limited disaster workers, who make up roughly half the agency's workforce. It also comes after FEMA reinstated 14 employees who were on paid administrative leave.
Trump says he'll place 25% tariff on autos from the EU, accusing it of not complying with trade deal
WASHINGTON (AP) — The head of the European Parliament trade committee calls President Donald Trump’s tariff hike on European Union automobiles “unacceptable.” Committee Chair Bernd Lange says the Trump administration “keeps breaking its commitments,” including on import taxes for steel and aluminum products. Trump said Friday he'll increase the tariffs charged on cars and trucks from the EU next week to 25%, which could jolt the world economy. The Republican president says the EU is not complying with a fully agreed to trade deal, though he hasn't fleshed out his objections. Trump and European Commission President Ursula von der Leyen had agreed to the trade deal last July. It set a 15% tariff on most goods.
US military reaches deals with 7 tech companies to use their AI on classified systems
WASHINGTON (AP) — The Pentagon says it has reached deals with seven tech companies to use their artificial intelligence in its classified computer networks This will allow the military to tap into AI-powered capabilities to help it fight wars. The Pentagon said Friday that Google, Microsoft, Amazon Web Services, Nvidia, OpenAI, Reflection and SpaceX will provide their resources to help “augment warfighter decision-making in complex operational environments.” Notably absent from the list is Anthropic, after its legal fight with the Trump administration over the ethics of AI usage in war. The Defense Department has been rapidly accelerating its use of AI. But AI has already raised concerns that its use could invade Americans’ privacy or allow machines to choose targets on the battlefield.
