Axios

The U.S. economy added 115,000 jobs in April, while the unemployment rate held at 4.3%, the Labor Department said on Friday.

Why it matters: Employers kept hiring through the Iran war's energy shock, a sign of labor market resilience that complicates the case for the Federal Reserve to cut interest rates.

Graham Platner, the presumptive Democratic nominee in Maine's Senate race, on Friday called for ending federal taxes on gasoline and diesel.

• Platner is also proposing a national freeze on electricity rates.

Why it matters: His race is likely among the nation's tightest — and critical for Democrats' uphill climb to regain control of the chamber in November's elections.

Nearly 10 weeks into the Iran war, there's new — if still anecdotal — evidence that it could bring tailwinds for global uptake of clean energy tech.

Why it matters: The energy shock highlights many nations' vulnerability to the expensive disruption of oil and gas imports — and the security case for diversifying.

Delta is stripping snacks and drinks from some short flights, while expanding full service on others — the latest sign airlines are reworking what's included in a ticket.

Why it matters: Jet fuel — one of airlines' biggest expenses — has surged amid the Iran conflict, pushing up costs and forcing carriers to cut routes, raise fares and rethink service.

The downfall of Spirit Airlines is casting a spotlight on the future of its budget carrier rival, Frontier Airlines, which is facing many of the same challenges.

Why it matters: The jet fuel price spike was the last straw for Spirit — which ceased operations early Saturday — and it's posing a serious challenge to Frontier, as well.

A former Tesla executive leading Ford's secretive West Coast effort to design an affordable electric vehicle has a bigger, unspoken mission: help Ford reinvent the way it designs and builds cars around the world.

Why it matters: If vice president Alan Clarke's team gets it right in southern California, they will create a system Ford can replicate across the globe to stay competitive in a rapidly shifting market.

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 Defense Department estimates Iran has been denied nearly $5 billion in oil revenue because of the U.S. blockade in the Gulf of Oman, causing unprecedented pressure on Tehran's government.

Why it matters: The blockade is President Trump's most significant leverage tool to negotiate ending the war with Iran, and the Pentagon wants to emphasize its impact as peace talks stop and start.

Arcadia, which helps businesses procure and manage energy, is acquiring Engie Impact — the arm of French multinational power giant Engie that offers a suite of complementary services.

Why it matters: The deal lands as energy demand and costs are rising around the world.

The energy crisis in the U.S. is starting to eat into American wallets, and though it's hardly an apocalyptic scenario, it sure feels awful.

Why it matters: Unlike in Asia and Europe, the U.S. is relatively insulated from the threat of actual gasoline or oil shortages, and price increases are so far manageable.