Justice Department drops criminal probe of Fed chair Powell, likely clearing the way for Warsh
WASHINGTON (AP) — The Justice Department has ended its investigation into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of Kevin Warsh as his successor. U.S. Attorney for the District of Columbia Jeanine Pirro said on X Friday her office was ending its probe into the Fed’s extensive building renovations because the Fed’s inspector general would scrutinize them instead. The move could lead to a swift confirmation vote by the Senate for Warsh, a former Fed official President Donald Trump nominated in January to replace Powell. The investigation was among several undertaken by the Justice Department into the Republican president's perceived adversaries. Powell says the investigation was intended to intimidate the Fed.
US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil
WASHINGTON (AP) — The Trump administration is sanctioning a major China-based oil refinery and about 40 shipping companies. The move announced Friday is part of a campaign to cut off Iran’s oil exports, a key revenue source. The U.S. has also imposed a blockade of the Strait of Hormuz, crucial for energy exports. Hengli Petrochemical’s facility in Dalian is included in the sanctions. Since 2023, it has received Iranian crude oil shipments. Treasury Secretary Scott Bessent says the agency will continue to restrict Iran’s oil network. The sanctions come amid turmoil in the global energy trade. China has said the use of sanctions “undermines international trade order and rules."
A tiny Arctic village in Alaska is trying to revive its polar bear tourism industry
ANCHORAGE, Alaska (AP) — A small Indigenous village in Alaska wants to reclaim its status as a top spot for polar bear tourism. Visitors flocked to Kaktovik before the pandemic to see polar bears waiting for sea ice to form. Tourism in the village just off Alaska's northern coast was paused because of the COVID-19 pandemic. And then because of concerns that tourism impacted the community and affected bear behavior. Local leaders are now working with the U.S. Fish and Wildlife Service to address these issues and revive the industry. They aim to ensure tourism benefits the community without harm.
US soldier charged with using classified intel to win $400K on Maduro raid is granted bond
RALEIGH, N.C. (AP) — A U.S. soldier involved with the capture of Venezuelan President Nicolás Maduro has been granted bond, a day after being charged with using classified information about the operation to win more than $400,000 in an online prediction market. Federal prosecutors say Gannon Ken Van Dyke used his access to classified information about the January raid to win money on Polymarket. Van Dyke is a special operations soldier who is stationed at Fort Bragg in North Carolina. He’s now facing several federal charges and the possibility of years in prison. He said little during Friday's hearing and was assigned a federal public defender, who declined to comment.
US won't renew Iranian and Russian oil waivers, Bessent says
WASHINGTON (AP) — Treasury Secretary Scott Bessent says the U.S. does not plan a third renewal of a waiver allowing the purchase of Russian oil that is currently at sea. He also told The Associated Press in a Friday interview that a renewal of the one-time waiver for Iranian oil at sea is totally off the table. Bessent’s statements come as the world is on edge over the U.S.-Israeli war in Iran, and global energy markets have been ensnarled by the closure of the Strait of Hormuz. The U.S. originally issued a waiver for Russian oil sales and petroleum products in March with the intent of stabilizing global energy markets after crude oil prices surged above $100 per barrel.
Meta slashes 8,000 jobs, or 10% of its workforce, as Microsoft offers buyouts
In the latest round of tech industry job cuts, Meta is laying off about 8,000 workers and Microsoft is offering buyouts to a similar number. Meta confirmed Thursday it plans to cut about 10% of its workforce in an effort to invest in other parts of its business and for efficiency, as first reported by Bloomberg. Microsoft is taking a different approach by offering voluntary buyouts to thousands of its U.S. employees.
What to know about the Jones Act as the Trump administration extends waiver for 90 days
NEW YORK (AP) — The Trump administration said it would extend the waiver on a more than a century-old act known as the Jones Act for another 90 days as the war in Iran continues to upend energy markets and supply chains worldwide. The Jones Act requires that goods hauled between U.S. ports be moved on U.S.-flagged vessels. Passed in 1920, this law aims to protect the American shipping sector — but it’s also faced criticism over the years for slowing the delivery of goods, including critical aid during time of crisis. In March, the White House said it would suspend Jones Act requirements for 60 days.
China's DeepSeek rolls out a long-anticipated update of its AI model
HONG KONG (AP) — DeepSeek, the Chinese artificial intelligence startup that shook up world markets last year, has launched preview versions of its latest major update. DeepSeek’s V4 will be tested to see how it compares with U.S. competitors like OpenAI’s ChatGPT, Anthropic’s Claude and Google’s Gemini. DeepSeek says the new V4 open-source model previews, which include “pro” and “flash” versions, have big improvements in knowledge, reasoning and in their agentic capabilities, or the ability to perform complex tasks and workflows autonomously. V4 follows V3, an AI model that DeepSeek released in late 2024. It launched its specialized “reasoning” AI model, called R1, in January 2025. That showed China's progress in catching up with the U.S. in technological advancements.
AI smart glasses will help visually impaired runners take on the London Marathon
LONDON (AP) — Visually impaired runners in London are using AI powered smart glasses to support marathon training and everyday life. The glasses combine real time audio cues with guide runners and support tools. Experts say the technology is expanding independence but still faces limitations around reliability and should complement existing support rather than replacing it. Smart glasses use a front facing camera to capture visual input and artificial intelligence to analyze it. The information is then converted into audio delivered through speakers built into the frame.
Intel’s best day since 1987 leads the US stock market to more records
NEW YORK (AP) — A surge for Intel following a blowout profit report led the U.S. stock market to more records, while oil prices kept yo-yoing in the wait for what’s next with the Iran war. The S&P 500 climbed 0.8% Friday and topped its prior all-time high. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite rallied 1.6% to its own record. Intel led the way and roared to its best day since 1987 after joining the parade of companies reporting stronger quarterly results than analysts expected. Oil prices swung up and down through the day.
