President Trump on Friday invoked a Cold War-era law in a bid to boost oil production off Southern California's coast and meet demand in the wake of the Iran war.
Why it matters: The president's signing of an executive order allowing use of the Defense Production Act shows he's trying to employ a variety of tools to try to tamp down the oil price shocks set off by the war.
Reckitt Catalyst entrepreneur-in-residence Serena Williams told founders at Axios House during SXSW on Friday that one of the toughest hurdles for early-stage entrepreneurs is learning how to sell themselves.
Why it matters: The former tennis star says underinvested entrepreneurs — who are frequently people of color and women — are passionate, problem-solvers but they need mentors to help them with storytelling.
Travelers can expect airlines to raise ticket prices, idle planes and implement fuel surcharges on certain flights if energy prices remain elevated, according to industry analysts.
The big picture: Jet fuel costs — which account for about 30% of airline expenses, according to Deutsche Bank — have spiked since the Iran war began.
It's not just oil:The Iran war is threatening to reignite food inflation — the price shock voters feel most directly — at the worst possible time for President Trump and Republicans.
Why it matters: The Strait of Hormuz — paralyzed by Iranian threats and potentially mines — carries a third of the world's fertilizer. For many American farmers, the spring planting season is just weeks away.
The Iran war is drawing fresh scrutiny to American crude oil exports as a way to curb skyrocketing fuel prices.
The big picture: The U.S. has become one of the world's largest oil exporters since a law changed a decade ago allowing crude to flow beyond American borders.
The U.S. Navy will escort ships through the Strait of Hormuz, "perhaps with an international coalition," as "soon as it is militarily possible," Treasury Secretary Scott Bessent said in a Sky News interview broadcast Thursday.
Why it matters: The International Energy Agency said Thursday the global oil market is facing "the largest supply disruption" in history due to the Iran war, which Bessent told Sky News has cost the U.S. $11 billion thus far.
An ad maker behind Homeland Security Secretary Kristi Noem's multimillion-dollar media campaign for immigration enforcement is disputing Democrats' claims about how much money it was paid.
The Strategy Group for Media, a DHS subcontractor, was paid about $226,000 for audio and video production, not the $143 million Democrats claimed, according to a letter and invoices the company sent to lawmakers.
Driving the news: In a grilling on Capitol Hill last week, lawmakers from both parties questioned Noem's decision to spend about $200 million on ads that prominently featured her, and why a company with ties to her staff was involved in the work.
The Trump administration might suspend requirements that only U.S. ships can carry cargo between domestic ports as officials look to temper rising gasoline prices.
Why it matters: Possible waivers of the 1920 law, the Jones Act, show how the Trump administration is scrambling to ease the fuel price shock from the Iran war.
White House officials are outraged over CBS' hiring of Jeremy Adler, a communications executive who previously worked for former Rep. Liz Cheney.
Adler will join CBS News' communications team, according to two people familiar with the move.
Why it matters: Cheney was one of President Trump's biggest foils during his first term, after which she led the House's probe into the Jan. 6 Capitol siege.
The Iran war has stopped oil and fertilizer flows through the Strait of Hormuz, but it hasn't stopped Middle Eastern money flows. Yet.
The big picture: Countries like UAE and Saudi Arabia have successfully positioned themselves as global financial centers, while regional sovereign wealth funds have become major global investors.
Microsoft on Thursdayannounced Copilot Health, a new AI service that lets users upload electronic health records and data from fitness trackers and other devices.
Why it matters: Microsoft is entering one of AI's fastest-growing arenas — health care — as OpenAI, Amazon and others expand their medical chatbot offerings.
Here's what's new on Paramount+, Hulu, Netflix, Apple TV, Tubi, HBO Max and Prime Video.
What we're watching: A series from the creator of "Yellowstone," a new season of "The Secret Lives of Mormon Wives," and a show where age-gap dating is celebrated.
Plans for historically large releases from emergency oil stockpiles reveal the scope of the energy crisis — and the market response reveals President Trump's limited options for tackling it.
Why it matters: The 400-million-barrel infusion over time from International Energy Agency member countries — including a big dose from U.S. holdings — likely won't push prices down by itself.
Energy Secretary Chris Wright said Wednesday the International Energy Agency "unanimously" agreed to President Trump's request to coordinate the release of 400 million barrels of oil and refined products from its reserves.
Why it matters: Consumers are seeing significant price jumpsat the pump — and Republicans recognize offsetting that increase is crucial ahead of the 2026 midterm elections.
Tens of millions of Americans have delayed surgeries, vacation plans, career moves and other big life decisions because of the cost of health care, a new West Health-Gallup survey found.
Why it matters: Affordability concerns are hanging over the midterm election cycle, with just over half of all Americans believing basic medical care is affordable and accessible.
