President Trump said the U.S. Navy will start guiding ships from foreign countries through the Strait of Hormuz from Monday and warned that if Iran tries to disrupt the process, the American military will use force.
Why it matters: This move that Trump called "Project Freedom" is the most significant step by his administration to try and reopen the key strait since Iran shut it down early in the war.
The United Arab Emirates is leaving OPEC. Saudi Arabia is ending its splashiest foreign sports venture. The two U.S. allies are in the midst of a messy divorce, even as both face fire from Iran.
Why it matters: One year after President Trump's grand tour of the Gulf, the region's vision of a geopolitically stable post-oil future — powered by tourism, AI and American capital — has taken a major blow.
Artificial intelligence is wiping out some entry-level work that trains the next generation of elite lawyers.
Why it matters: Big Law's entire business model depends on armies of junior associates learning on the job. If AI erases that rung, the profession faces a long-term talent crisis.
Costco is now letting shoppers swap soda for bottled water in its iconic $1.50 hot dog combo — a small change that could appeal to more health-conscious customers.
Why it matters: The hot dog combo — introduced more than 40 years ago — is one of retail's most famous fixed-price deals, holding at that price through decades of inflation.
Spirit Airlines is going out of business, canceling all of its flights and stranding current travelers — marking the end of the runway for a company that offered cheap flights to America's budget travelers.
