Oil prices sink and stocks rally worldwide on hopes for a reopening of the Strait of Hormuz
NEW YORK (AP) — Oil prices are sinking, and stock markets are bursting higher worldwide with hopes that a deal is nearing to allow ships to deliver crude from the Persian Gulf again to customers. The price for a barrel of Brent sank below $102 Wednesday. On Wall Street, the S&P 500 climbed 1.1% and was heading for another record. The Dow Jones Industrial Average added 520 points, and the Nasdaq composite rose 1.5%. Stock markets abroad jumped even more. Oil prices pared their steepest drops from the morning, though, and Wall Street has seen past hopes for an end to the Iran war get dashed several times.
US rights agency sues New York Times for discriminating against white man passed over for promotion
NEW YORK (AP) — A federal civil rights agency filed a discrimination lawsuit Tuesday against the New York Times, claiming that the new organization passed over a white male employee for a promotion in favor of a lesser qualified woman to meet its diversity goals. The New York Times called the lawsuit politically motivated and said it would defend itself “vigorously.” The Equal Employment Opportunity Commission filed the lawsuit Tuesday on behalf of a New York Times editor who lodged a complaint after he didn’t get the role of deputy real estate editor in 2025, alleging gender and racial discrimination.
Lower-income Americans hit hardest by gas price spike, widening inequalities
WASHINGTON (AP) — Lower-income Americans sharply reduced their gas consumption in the month following the Iran war, yet spiking prices still forced them to spend more at the pump, worsening the economy’s disparities, new research released Wednesday showed. Higher-income households, meanwhile, ratcheted up their spending on gas while barely reducing their consumption, according to a report from the Federal Reserve Bank of New York. Middle-income households fell in-between.
Disney offsets fewer overseas visitors with streaming and strong spending at theme parks
Disney exceeded most expectations in the second quarter due to strength in its streaming service and strong spending at U.S. theme parks that offset weak international tourism. The company warned early this year that its theme parks division would likely see modest growth due in part to declining tourism from abroad. International tourism in the U.S. has waned for a number of reasons after President Donald Trump’s return to the White House, including tariffs, a crackdown on immigrants, and repeated jabs at allied nations. Overall attendance at U.S. parks declined 1% from the same time last year due to declining international tourism. Still, the company reported strong domestic spending at parks.
FDA announces its first OK of fruit-flavored e-cigarettes for adults in major shift under Trump
WASHINGTON (AP) — U.S. health regulators have announced their first authorization of fruit-flavored electronic cigarettes intended for adult smokers. The Tuesday announcement from the Food and Drug Administration is a major shift that comes after months of appeals to the Trump White House from the vaping industry. As a presidential candidate, Donald Trump promised to save the vaping industry. But action on vaping and other tobacco policies has taken a backseat at the FDA. The White House has recently met with e-cigarette manufacturers who have called for the administration to loosen standards on their products. The new e-cigarettes authorized Tuesday come in mango, blueberry and two varieties of menthol.
Venezuela tells UN court that mineral-rich part of Guyana was 'fraudulently' taken in colonial era
THE HAGUE, Netherlands (AP) — Venezuela insists a mineral-rich region of Guyana was “fraudulently” taken in the 19th century. The country argues a 1966 agreement, not the International Court of Justice, should determine ownership. The court is holding a week of hearings between the neighbors, both claiming the Essequibo region. An 1899 decision favored Guyana, but Venezuela contends it was cheated out of the land. Venezuela views the region as its own since the Spanish colonial period. Guyana's Foreign Minister says the dispute affects 70% of their territory. The court is expected to take months to issue a ruling.
Roomba pioneer aims to crack the household market again with an AI-powered pet robot
The robotics pioneer who helped unleash the Roomba vacuum is now betting that you might one day replace your beloved dog or cat with a plush robot that follows you around your home and adapts to your daily habits. Colin Angle unveiled a four-legged prototype of that artificial pet, called a Familiar, on Monday. Imagine a creature the size of a bulldog with doe-like eyes and bear cub ears and paws, extending itself into a greeting stretch that invites you to pat its touch-sensitive fake fur. The lifelike machine, powered by the latest artificial intelligence technology, would not have been possible when Angle co-founded iRobot in 1990.
OpenAI president discloses his stake in the company is worth $30B
OAKLAND, Calif. (AP) — Greg Brockman, OpenAI’s president and CEO Sam Altman’s top lieutenant, disclosed in court Monday that his stake in the artificial intelligence company is worth nearly $30 billion. Brockman, who also said he did not invest in OpenAI, took the witness stand Monday in the landmark trial that centers on the 2015 birth of ChatGPT maker OpenAI as a nonprofit startup primarily funded by Musk before evolving into a capitalistic venture now valued at $852 billion.
Georgia officials knew chemicals from carpet mills were polluting local water. The people did not
CALHOUN, Ga. (AP) — State officials knew nearly two decades ago that toxic chemicals called PFAS were spreading from the carpet mills of northwest Georgia into rivers that are the region's main source of drinking water. Local residents did not know. Now the odorless, colorless chemicals that were in their tap water are in the blood of some of them at levels higher than health guidelines consider safe. An investigation by The Associated Press, The Atlanta Journal-Constitution and FRONTLINE (PBS) has found Georgia’s Environmental Protection Division did little to confront the pollution, even as concerns grew among scientists and federal regulators about the dangers of PFAS.
Some iPhone owners could get up to $95 payment after Apple agrees to settle case for $250 million
LONDON (AP) — Apple has agreed to a $250 million settlement in a class-action lawsuit over false advertising of Siri's AI capabilities. The lawsuit claims Apple misled consumers by promoting features that didn't exist when the iPhone 16 launched in 2024. If approved, the deal means owners could receive at least $25 and up to $95 for each eligible device. The settlement covers about 37 million devices bought in the U.S. between June 2024 and March 2025. Apple has been trying to keep up with AI advancements but hasn't delivered on the promised Siri updates. The company is expected to unveil the upgrade soon.
