US stocks edge higher following the latest U-turn for oil prices
NEW YORK (AP) — U.S. stocks ticked higher following the latest reversal for oil prices. The S&P 500 rose 0.2% Thursday and inched closer to its all-time high set last week. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite climbed 0.1%. All three indexes erased early drops and gained strength after the price of a barrel of Brent dropped from $109 in the morning to settle below $103. Oil prices have swung with uncertainty about what will happen with the Iran war. The lower oil prices helped yields to ease in the bond market.
Trump calls off AI executive order over concern it could weaken US tech edge
WASHINGTON (AP) — President Donald Trump has called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony. He says he's worried the measure could dull America’s edge on AI technology. Trump said he was postponing the Thursday signing because he didn’t like what he saw in the order’s text. The push for some form of government action to vet the most powerful AI systems follows growing concern within the banking industry and other institutions about AI’s ability to find cybersecurity vulnerabilities in the world’s software.
Trump eases refrigerant rule in a bid to address surging grocery costs
WASHINGTON (AP) — The Trump administration is loosening a federal rule that requires grocery stores and air-conditioning companies to reduce greenhouse gases used in cooling equipment. President Donald Trump says that will help lower grocery costs. But it's not clear how much or how quickly prices could be impacted. Industry groups say it could even raise prices because manufacturers have already redesigned products, retooled factories and trained workers to build and service next-generation refrigerant equipment. The move to relax the Biden-era rules on harmful pollutants known as hydrofluorocarbons is the latest attempt by the administration before the November elections to try to address rising voter concerns over the cost of living.
SpaceX tries to launch a bigger version of Starship but hits a series of last-minute problems
CAPE CANAVERAL, Fla. (AP) — SpaceX's newest and biggest Starship will have to wait at least another day before launching on a test flight from Texas. The launch team got within a half-minute Thursday evening of sending the mega rocket on a space-skimming journey halfway around the world. But a series of last-minute problems forced a delay. SpaceX says it may try again Friday. The 407-foot rocket is using a brand new pad at Starbase near the Mexican border, and that's what contributed to some of the issues. NASA is counting on this latest version of Starship to land astronauts on the moon in a few years.
Brazilian grieving father says justice still missing after Airbus, Air France guilty verdict
RIO DE JANEIRO (AP) — A Paris appeals court has found Airbus and Air France guilty of manslaughter in the 2009 crash of Flight 447 from Rio to Paris. The crash was France’s worst aviation disaster, killing 228 passengers and crew. Brazilian Nelson Faria Marinho, a grieving father, remains unsatisfied, seeking prison sentences for executives. Both companies plan to appeal the ruling, which could prolong the case for years. The court ordered each company to pay a fine of 225,000 euros. The crash led to changes in regulations for airspeed sensors and pilot training.
Companies join a deep-sea mining rush after Trump executive order, as regulators fast-track permits
WASHINGTON (AP) — Since President Donald Trump signed an executive order to create a deep-sea mining industry, businesses have raised millions from investors, and stock prices have soared. At least nine companies are in talks with the government for access to seabed minerals. Sections of the seafloor from American Samoa to Alaska could be auctioned for offshore mining this summer and through the fall. But a close look at some of the companies involved reveals uncertain track records and histories spattered with legal disputes, while major questions about how the minerals would be processed and refined remain unanswered.
United Nations' top court says right to strike is protected by a key labor treaty
THE HAGUE, Netherlands (AP) — The United Nations’ top court has issued a landmark advisory opinion that says the right to strike is protected by a cornerstone labor treaty. The International Court of Justice was asked in 2023 by the International Labor Organization to settle an internal dispute over whether one of the U.N. agency’s conventions gives workers the right to strike. Advisory opinions aren't legally binding but carry significant weight. The decision could have a worldwide impact on labor regulation by enshrining the right to strike in labor standards and international trade agreements.
Supreme Court sides with US company in claims over property seized in Cuban revolution
WASHINGTON (AP) — The Supreme Court has ruled in favor of owners of Cuban property that was confiscated by Fidel Castro’s government more than 65 years ago. By an 8-1 vote Thursday, the justices revived claims filed by a U.S. company, Havana Docks, that operated docks in the Cuban capital. The suit targets four cruise lines that brought tourists to Cuba during the brief thaw in relations during the Obama administration. The court’s ruling is not a final decision in the suit filed by Havana Docks. But it comes amid heightened pressure on Cuba from President Donald Trump’s administration, including Wednesday’s indictment of former Cuban President Raúl Castro in the 1996 downing of civilian planes flown by Miami-based exiles.
Meta settles social media addiction case brought by rural Kentucky school district
Meta has settled the first of many lawsuits brought by school districts across the country that sued social media companies seeking compensation for costs they say they incurred dealing with children’s social media addiction and mental health harms. The lawsuit brought by a small, rural Kentucky school district was set to go to trial in federal court in Oakland, California, next month. It was selected as a bellwether case, essentially a test case for both sides to see how their arguments play out before a jury. There are about 1,200 similar cases across the country. The settlement only applies to the Breathitt County School District.
Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand
Artificial intelligence chipmaker Nvidia’s quarterly results blew past Wall Street’s expectations once again, fueled by massive demand for its high-end AI chips. The company said Wednesday it earned $58.32 billion, or $2.39 per share, in the February-April period. That is up from $18.78 billion, or 76 cents per share, in the same period a year earlier. Excluding one-time items, Nvidia earned $1.76 per share. Revenue jumped 85% to $81.62 billion from $44.01 billion. Analysts, on average, were expecting earnings of $1.75 per share and revenue of $78.91 billion, according to a poll by FactSet.
