Thousands of Boeing workers who build fighter jets and weapons go on strike

NEW YORK (AP) — Several thousand workers at three Midwest manufacturing plants where Boeing develops military aircraft and weapons are on strike early. The strike started early Monday at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, after about 3,200 local members of the International Association of Machinists and Aerospace Workers voted to reject a modified labor agreement. It included a 20% wage increase over four years and $5,000 ratification bonuses. The walkout potentially complicates Boeing's progress in regaining its financial footing following a bruising 2024. Boeing CEO Kelly Ortberg told analysts last week that the impact would be much less than a walkout last year by 33,000 workers who assemble the company’s commercial jetliners.

Boeing addresses more labor strife amid attempt to resuscitate its reputation

A strike by thousands of workers that build fighter jets for Boeing at three U.S. plants is the second labor disruption for the plane builder in less than a year. The strike that began just after midnight Monday involving more than 3,000 members of the International Association of Machinists and Aerospace Workers comes as Boeing attempts to resuscitate its reputation. Boeing, once a beacon of U.S. manufacturing and the gold standard in the global aircraft industry, has been rocked by fatal crashes, investigations and changes in leadership. Following is a quick rundown of events that have buffeted the Arlington, Va., company.

China pushes back at US demands to stop buying Russian and Iranian oil

WASHINGTON (AP) — China has taken a firm stance against U.S. demands that it stop buying oil from Russia and Iran or face a possible 100% tariff. This comes as both countries signal goodwill in negotiating a trade deal after two days of talks in Sweden. U.S. Treasury Secretary Scott Bessent acknowledges China's position on oil purchases but suggests an overall trade deal remains likely. China has shown confidence in playing hardball when dealing with the Trump administration, especially when trade is linked to its energy and foreign policies. China was the only country that retaliated when President Donald Trump in April unveiled a sweeping plan for tariffs on dozens of countries.

Tesla awards CEO Musk millions of shares valued at about $29 billion

Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package. The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company’s CEO. In December Delaware Chancellor Kathaleen St. Jude McCormick reaffirmed her earlier ruling that Tesla must revoke Musk’s multibillion-dollar pay package. She found that Musk engineered the landmark pay package in sham negotiations with directors who were not independent.

Wall Street rallies and US stocks recover much of Friday's wipeout

NEW YORK (AP) — U.S. stocks are rallying to recover more than two thirds of their sharp loss from Friday's wipeout. The S&P 500 rose 1.1% Monday. The Dow Jones Industrial Average jumped 426 points, and the Nasdaq composite climbed 1.5%. Gains for Tyson Foods and other companies following profit reports that topped analysts' expectations helped offset a drop for Berkshire Hathaway. This upcoming week may have fewer fireworks on Wall Street than last week, which was punctuated by a disappointingly weak report on the U.S. job market. That raised worries that President Donald Trump’s tariffs may be punishing the economy.

The vast majority of US adults are stressed about grocery costs, an AP-NORC poll finds

NEW YORK (AP) — A new poll finds the vast majority of U.S. adults are feeling some stress about the cost of groceries, as prices continue to rise and concerns about the impact of President Donald Trump’s tariffs remain widespread. Only 14% say it’s not a source of stress, underscoring the pervasive anxiety most Americans continue to feel about the cost of everyday essentials. The Associated Press-NORC Center for Public Affairs Research survey finds about 4 in 10 Americans under age 45 say they've used what are  known as “buy now, pay later” services to make small purchases on entertainment or restaurant meals or to pay for essentials like groceries or medical care.

US tariffs put 30,000 South African jobs at risk, officials say

JOHANNESBURG (AP) — South African authorities have warned that U.S. reciprocal tariffs could put an estimated 30,000 jobs at risk. The U.S. plans to impose a 30% tariff on South African goods, creating uncertainty for export industries. On Monday, officials said that if the response to these tariffs is mismanaged, significant job losses could occur. The U.S. is South Africa's third-largest trading partner, and the tariffs have prompted a scramble for new markets. The government is working to diversify export markets, focusing on intra-African trade and opportunities in Asia and the Middle East. An Export Support Desk has been established to help affected manufacturers.

New Jersey says 3 chemical makers agree to 'forever chemical' settlement worth up to $2 billion

TRENTON, N.J. (AP) — DuPont and two other companies will pay New Jersey up to $2 billion to settle environmental claims stemming from PFAS, commonly referred to as “forever chemicals.” The agreement was announced Monday. State officials say the deal with DuPont, Chemours and Corteva is the largest such settlement in state history. It calls for the companies to pay $875 million over 25 years and create a remediation fund of up $1.2 billion. The companies will split the costs under the deal, which must still be approved by the courts. PFAS, commonly referred to as “forever chemicals," are a group of chemicals that have been around for decades and have now spread into the nation’s air, water and soil.

From Laos to Brazil, Trump's tariffs leave a lot of losers. But even the winners will pay a price

WASHINGTON (AP) — President Donald Trump’s tariff onslaught this week left a lot of losers – from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland. They’re now facing hefty taxes – tariffs – on the products they export to the United States. What’s unclear is whether there will ultimately be any winners – even in the United States, the intended beneficiary of Trump’s protectionist policies. Trump’s trade war has pushed the average U.S. tariff from 2.5% at the start of 2025 to 18.3% now, the highest since 1934, according to the Budget Lab at Yale University. One expert at the New York Law School said that “in many respects, everybody’s a loser here.’’

It's Trump's economy now. The latest financial numbers offer some warning signs

WASHINGTON (AP) — President Donald Trump's economic policies are facing scrutiny as weak indicators emerge. Job gains are dwindling, inflation is rising and growth has slowed compared to last year. More than six months into his term, Trump's tariffs and tax changes have reshaped the economy. On Friday, a bleak jobs report showed a decline in manufacturing jobs, and Trump fired the head of the agency responsible for the data. Critics warn that Trump's aggressive use of tariffs and tax changes could backfire. The White House, however, remains optimistic, claiming the best is yet to come.