Tillis says he's ready to move ahead with confirming Warsh as Trump's pick as Fed chair

WASHINGTON (AP) — The Republican senator who had effectively blocked confirmation of President Donald Trump’s pick to lead the Federal Reserve says he's dropping his opposition after the Department of Justice ended its investigation of the current central bank chair. The announcement by Sen. Thom Tillis of North Carolina removes a big hurdle to Trump’s effort to install Kevin Warsh in the job in place of Jerome Powell. At issue was an investigation by the top federal prosecutor in Washington of the Fed’s multibillion-dollar building renovations. Tillis had seen that as a “vindictive prosecution” and suggested it threatened the Fed’s longtime independence from day-to-day politics. He tells NBC's he's prepared to move on with Warsh's confirmation.

Asian shares are mixed and oil gains more than $1 as Iran talks remain in flux

Shares are mixed in Asia and Tokyo has hit a fresh record after U.S. stocks ended last week with new highs. The price of oil gained more than $1 as talks on ending the war with Iran hit more snags. This week will bring decisions on interest rates by top central banks, including the Federal Reserve. The S&P 500 climbed 0.8% Friday, topping its all-time high. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite rallied 1.6% to a record, led by Intel after it reported stronger quarterly results than expected. The White House canceled plans to send envoys to Pakistan for talks on Iran. U.S. President Donald Trump cited a lack of progress.

Tired and worried, seafarers have been stranded in the Persian Gulf for weeks

NEW DELHI (AP) — Around 20,000 seafarers on hundreds of vessels are stuck in the Persian Gulf, unable to cross the Strait of Hormuz that remains effectively shut by Iran. Indian Capt. Rahul Dhar and his crew have been stranded on their tanker for about eight weeks. They have witnessed drones and missile interceptions as they try to keep in touch with their families. Some other crews have faced shortages of food and water. A ceasefire between the U.S. and Iran has brought some hope, but anxiety over uncertainty has taken its toll. The International Maritime Organization has called for a safe corridor, but most ships remain stranded.

College students wary of the job market are changing course in search of 'AI-proof' majors

The rise of artificial intelligence is prompting college students to second-guess their career paths. Students say that picking a major that’s AI-proof feels like shooting at a moving target, as they try to prepare for a job market that is changing rapidly. A surge of recent polls show that college students see AI as a threat to their job prospects, particularly those majoring in technology-related fields. Until recently, the narrative that guided many students was that learning to code would lead to good jobs. But students who followed that path and are now majoring in computer science, analytics and other popular STEM majors fear that AI is taking entry-level jobs.

Don't count on rate cuts just yet: Warsh as Fed chair may not lead to big policy changes

WASHINGTON (AP) — President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office. Yet Americans shouldn’t pencil in lower borrowing costs for mortgages, auto loans, or business loans just yet. Kevin Warsh is the likely successor to current Fed chair Jerome Powell when his term ends May 15. But Warsh will still face several hurdles to reducing rates even if he gets confirmed, including rising gas prices that are pushing up inflation, questions about his political independence, and 11 other Fed policymakers who have a vote on the decision, with most of them not ready to cut. Trump, meanwhile, has kept up the pressure.

Justice Department drops criminal probe of Fed chair Powell, likely clearing the way for Warsh

WASHINGTON (AP) — The Justice Department has ended its investigation into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of Kevin Warsh as his successor. U.S. Attorney for the District of Columbia Jeanine Pirro said on X Friday her office was ending its probe into the Fed’s extensive building renovations because the Fed’s inspector general would scrutinize them instead. The move could lead to a swift confirmation vote by the Senate for Warsh, a former Fed official President Donald Trump nominated in January to replace Powell. The investigation was among several undertaken by the Justice Department into the Republican president's perceived adversaries. Powell says the investigation was intended to intimidate the Fed.

Trump's disdain for wind power creates political turbulence for Republicans in coastal Virginia

PORTSMOUTH, Va. (AP) — President Donald Trump's attempts to cancel offshore wind projects have drawn opposition not only from environmentalists but also from Republicans. One of them is Jen Kiggans, a congresswoman who represents a coastal district in Virginia where an $11.5 billion wind farm is expected to create 1,000 jobs. Her support for a project targeted by Trump shows the scrambled politics of clean energy in an election year where Republicans are at risk of losing the House. Kiggans could be even more at risk after Virginia voters approved on Tuesday a new congressional map that makes her competitive district more Democratic than before.

A bank robber's cellphone gave him away. Now the Supreme Court is hearing his case

WASHINGTON (AP) — Okello Chatrie’s cellphone gave him away. Chatrie made off with $195,000 from the bank he robbed in suburban Richmond, Virginia, and he eluded the police. But then they turned to a powerful technological tool that erected a virtual fence and allowed them collect the location history of cellphone users near the crime scene. A type of warrant served by police on Google found that Chatrie’s cellphone was among a handful of devices in the vicinity of the bank around the time it was robbed. Now the Supreme Court will decide whether those geofence warrants violate the Fourth Amendment's ban on unreasonable searches.

Shots fired as gunman charges toward ballroom at White House correspondents' dinner. Trump unharmed

WASHINGTON (AP) — A man armed with guns and knives stormed the lobby outside the White House Correspondents’ Association Dinner attended by President Donald Trump on Saturday night. The man charged toward the ballroom in a chaotic encounter with Secret Service agents as guests dived under tables at the sound of shots being fired Saturday night. The president was uninjured and was rushed off the stage. The armed man, who officials said was a guest at the Washington Hilton where the dinner was being held, was taken into custody and was expected in court Monday. Police believe he opened fire and acted alone but did not say who was his intended target or describe a motive.

US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil

WASHINGTON (AP) — The Trump administration is sanctioning a major China-based oil refinery and about 40 shipping companies. The move announced Friday is part of a campaign to cut off Iran’s oil exports, a key revenue source. The U.S. has also imposed a blockade of the Strait of Hormuz, crucial for energy exports. Hengli Petrochemical’s facility in Dalian is included in the sanctions. Since 2023, it has received Iranian crude oil shipments. Treasury Secretary Scott Bessent says the agency will continue to restrict Iran’s oil network. The sanctions come amid turmoil in the global energy trade. China has said the use of sanctions “undermines international trade order and rules."