Iran-backed Houthis enter the monthlong war and could further threaten global shipping
DUBAI, United Arab Emirates (AP) — Iranian-backed Houthi rebels have entered the monthlong war in the Middle East and claimed they launched missiles toward Israel. The Houthis could threaten another important global shipping lane in the region. About 2,500 U.S. Marines have arrived in the Middle East to strengthen the largest U.S. military buildup in the region in more than two decades. Pakistan says Saudi Arabia, Turkey and Egypt will send their top diplomats to Islamabad for talks aimed at ending the war. But Iran's foreign minister has expressed skepticism about diplomatic efforts and accuses the U.S. of being “contradictory.”
Bills to pay FAA and TSA workers during shutdowns get introduced but keep stalling in Congress
Members of Congress have repeatedly introduced bills to ensure the federal employees who control air traffic and conduct airport security screenings get paid during government shutdowns. The Keep America Flying Act. The Keep Air Travel Safe Act. The Aviation Funding Stability Act. None passed in time to keep essential aviation workers from missing paychecks. President Donald Trump on Friday offered a short-term fix for the empty pockets of TSA agents who have gone unpaid since funding lapsed for the Department of Homeland Security in mid-February. Labor unions, airline executives and industry groups are urging Congress to provide a permanent solution by acting on any of the pending pay-protection bills with bipartisan support on paper.
What to know about Trump's order to pay TSA officers and its impact on airport security lines
President Donald Trump has signed an executive order to pay Transportation Security Administration officers. Whether that translates into shorter wait times for passengers at airport security lines remains to be seen. Friday's signing comes at a busy travel time of the year with spring breaks at school districts and colleges and the upcoming Passover and Easter holidays. Some passengers with very early flights Saturday reported having little problem getting through airport security lines. But that may have been an anomaly. Others at some of the busiest airports wrote on social media that security lines were growing exponentially longer by the hour.
French police thwart a suspected bombing outside a Bank of America building in Paris
PARIS (AP) — French authorities say that police have stopped a suspected bombing outside a Bank of America building in Paris. An investigation has been opened, and investigators have placed one person in custody. RTL radio said Saturday that officers spotted two suspects near the building overnight. One suspect tried to light a device. RTL said that the second suspect got away. Interior Minister Laurent Nuñez praised the rapid police response. He said that security forces have stayed on high alert amid international tensions.
A Houthi missile attack on Israel stokes fears of renewed Red Sea shipping strikes
CAIRO (AP) — Iranian-backed Houthi rebels in Yemen have launch missiles toward Israel and raised fears of new attacks on Red Sea shipping. The group is a key part of Iran’s regional network. Analysts warn the Houthis could restart strikes on commercial vessels. That adds risk as the Strait of Hormuz stays effectively closed. The Red Sea route is vital for oil, container cargo and liquefied natural gas. Past Houthi attacks had sunk ships and killed sailors, before a U.S. deal paused them.
Navy shipyard workers approve a contract deal with Bath Iron Works, ending weeklong strike
PORTLAND, Maine (AP) — Hundreds of employees at one of the U.S. Navy’s biggest shipbuilding contractors have voted to approve a deal with Bath Iron Works, ending a weeklong strike. The shipyard says members of the Bath Marine Draftsmen’s Association ratified a new four-year collective bargaining agreement Saturday that goes into effect immediately. Approval followed an hourslong union meeting at a high school in Maine. The shipyard and the union had negotiated for weeks without resolving differences before the strike began. The company has not responded to questions about whether the strike slowed production.
Oil spill deals economic blow to fishermen in the Gulf of Mexico
VERACRUZ, Mexico (AP) — A major oil spill off the Gulf of Mexico has spread more than 373 miles or 600 kilometers across the ocean and seeped into seven nature reserves. Mexicans who have worked in Veracruz’s booming fishing industry for years say they’ve been dealt a blow on one of their busiest weeks of the year. Fisherwoman Norma González Pérez said that "this year has been very disastrous for us because in all my years of life we had never experienced something of this magnitude.”
Wall Street drops again to close its 5th straight losing week and its worst since the Iran war
NEW YORK (AP) — U.S. stocks deepened their drops as Wall Street finished off a fifth straight losing week, its longest such streak in nearly four years. The S&P 500 fell 1.7% Friday to close its worst week since the war with Iran began. The Dow Jones Industrial Average lost 1.7% and fell more than 10% from its record set last month, while the Nasdaq composite sank 2.1%. President Donald Trump’s latest delay in his threat to obliterate Iranian power plants saw oil prices pull back briefly late Thursday, but they resumed their rise Friday as fighting continued in the Middle East.
When stock markets are rattled, even by war, it usually pays for investors to be patient
NEW YORK (AP) — When stock markets are falling, it’s natural to want to do something quickly to protect your retirement savings. Historically, though, staying calm has been best when it comes to investing. The U.S. stock market has a track record of recovering from every steep drop it’s taken. Whether it’s an oil shock or a military war, the S&P 500 has always recouped its losses to push on toward more records. Of course, that has sometimes taken years or even a decade, but anyone who sold their stocks after getting spooked by a steep decline missed out on the eventual recovery.
Africa is hurting again from a global crisis it had no part in starting
LAGOS, Nigeria (AP) — Africa is hurting again from a global crisis it had no part in starting. The world’s fastest-growing continent is reeling from the economic impacts of the war in Iran. The latest shock isn’t isolated. It comes after effects from the coronavirus pandemic and the war in Ukraine. Africa is at the painful end of ripple effects that include a global scramble for critical resources like fuel and fertilizer. It will keep happening as Africa is increasingly connected to the world and under pressure to be more self-reliant than ever.
