AP Business SummaryBrief at 12:15 a.m. EDT
AP Business SummaryBrief at 12:15 a.m. EDT
CEOs of top airlines demand Congress restore funding to Homeland Security and pay airport workers
NEW YORK (AP) — The CEOs of the nation’s top airline companies are imploring Congress to restore funding to the Department of Homeland Security and embrace a bipartisan solution to pay federal aviation workers, including airport security officers, during a partial government shutdown. In an open letter posted online Sunday and in The Washington Post, they noted that Congress should pass the Aviation Funding Solvency Act and the Aviation Funding Stability Act, which would guarantee air traffic controllers are paid regardless of the government’s funding status, as well as the Keep America Flying Act. That measure would offer the same protections to Transportation Security Administration officers tasked to provide security and protection for all travelers.
When gas prices go up, changing the way you drive can stretch your fuel just a bit farther
DETROIT (AP) — When gas prices go up, it adds to drivers' pain at the pump. But experts say consumers can do something to stretch their fuel just a little farther — change the way they drive. Their tips include driving slower or using cruise control. Limiting the time your car idles — and that includes not switching off your automatic start-stop ignition if you have it. You can improve efficiency by making sure you're not using roof racks or bike racks when you don't need them, and eliminating unnecessary weight you might be dragging around in your trunk or truck bed. And you can carpool with others, or be thoughtful about combining errands so you're not making unnecessary trips.
US-China trade talks open in Paris, paving the way for Trump-Xi summit
BEIJING (AP) — China's official news agency Xinhua reports that representatives from Beijing and Washington have begun their economic and trade talks in Paris. Sunday's meetings, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are expected to pave the way for U.S. President Donald Trump’s state visit to Beijing to meet Chinese leader Xi Jinping in about two weeks. The White House has said that Trump will travel to China from March 31 to April 2, though Beijing has not officially confirmed it. Last week, Chinese Foreign Minister Wang Yi said it would be a “big year” for China-U.S. relations.
Jet fuel prices are rising. That could make summer flights more expensive
Airline ticket prices are starting to climb as carriers respond to rising jet fuel costs tied to the war in Iran. Cathay Pacific, Air France-KLM and a handful of other carriers already have raised their fares or added fuel surcharges. United Airlines CEO Scott Kirby has warned that higher ticket prices will “probably start quickly.” Experts say it’s not a question of if airfares rise, but when and by how much — especially on long-haul international routes. The security director of a global risk management company advises travelers to book early, set fare alerts and use frequent flyer miles or credit card points instead of holding out for a perfect deal.
A media-rating company says a Trump agency is threatening its livelihood
A company that evaluates news outlets and websites to see which produce reliable journalism says it's under attack by the Trump administration. NewsGuard has sued the Federal Trade Commission over an agency investigation that the company says is threatening its livelihood. NewsGuard's ratings system is used to help advertisers and artificial intelligence companies decide which news sites they can trust with their business. Conservative groups and the television network Newsmax says the ratings system is trying to censor conservative thought. The FTC says its investigation of NewsGuard is part of a broader effort to see whether advertiser boycotts violate antitrust laws.
Trump says that he's asked 'about 7' countries to join coalition to police Iran's Strait of Hormuz
CAIRO (AP) — President Donald Trump says he has “demanded” that about seven countries heavily reliant on Middle East oil join a coalition to police the Strait of Hormuz. About one-fifth the world’s traded oil flows through the waterway. Trump spoke while answering reporters’ questions as he flew back to Washington from Florida aboard Air Force One. The president declined to name the countries he the administration is negotiating with for protection for the strait. “I’m demanding that these countries come in and protect their own territory, because it is their own territory,” Trump said about the strait
‘Hoppers’ holds onto the No. 1 box office spot as 'Reminders of Him' overperforms
LOS ANGELES (AP) — Pixar’s “Hoppers” held onto its spot atop the box office, bringing in $28.5 million in its second weekend. That's according to studio estimates released Sunday. After its $45.3 million debut, The Walt Disney Co.’s “Hoppers” dipped a modest 37% in its second weekend, a promising sign for an animated movie. The weekend results also show Colleen Hoover’s “Reminders of Him” added to the author’s box-office streak. The Universal film debuted in second place with a better-than-expected $18.3 million. The film is the first from a screenplay that Hoover co-wrote, but not the first of her novels to successfully translate to the big screen. “Undertone,” a micro-budget horror movie from A24, opened with $9.3 million.
Trump seeks to close $1.6 trillion revenue gap with raft of new tariffs
WASHINGTON (AP) — The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes. Recovering that lost revenue, which the White House was counting on to help offset the steep, multi-trillion dollar cost of its tax cuts, is possible but will be challenging, experts say. The administration has to use different legal provisions to impose new duties, and those provisions require longer, complex processes that U.S. companies can use to seek exemptions. It could be months or more before it is clear how much revenue the replacement tariffs will yield.
Greek oil tanker damaged in suspected Black Sea drone attack as wars disrupt global shipping
ATHENS, Greece (AP) — A Greek oil tanker was damaged in a suspected drone attack in the Black Sea while approaching the Russian port of Novorossiysk. Greek officials said the Maran Homer, chartered by Chevron, sustained material damage in the attack Saturday but remained seaworthy and the 24 crew members were unharmed. The tanker was struck before loading Kazakh oil. Greek Maritime Affairs Minister Vassilis Kikilias said the attack could be linked to a recent decision by the United States to ease sanctions on Russian oil exports. Commercial shipping is facing increased risks due to the wars in Ukraine and Iran.
What to know about the Strait of Hormuz, a key passageway essential for global energy supply
DUBAI, United Arab Emirates (AP) — The Strait of Hormuz is a small strip of water connecting the Persian Gulf to the world’s oceans, and it has become a big problem for the global economy. On a typical day, ships carrying about a fifth of the world’s oil sail out of the Gulf through the narrow passageway. But the war with Iran means it’s effectively closed. The snarls have sent oil prices above $100 per barrel and threatened a surge of painful inflation for the global economy if the blockages last a long time. Some analysts say oil prices could quickly jump to $150 per barrel if the strait remains closed
