From unfilled gas tanks to fewer frills, retailers see US consumers rethink their spending
NEW YORK (AP) – U.S. consumers haven’t stopped spending since the Iran war drove up fuel prices. But company executives and retail analysts say many shoppers are reassessing what they buy and where. The behavior changes observed so far are subtle. They include drivers flocking to the fuel pumps at warehouse stores like Costco and Sam’s Club, but not filling up their tanks all the way. Market research firms say foot traffic is down at clothing and electronics stores. Executives from Walmart, McDonald’s and Dollar General have reported noticeable cutbacks by lower-income customers. Some economists and analysts expect a wider retrenchment as the cumulative impact of costlier gas, food and other products catches up with more people.
Apple expected to unveil new AI features at last developers conference with CEO Tim Cook
Apple is expected to unveil new artificial intelligence features at its annual developers conference beginning Monday, which will be the last one featuring CEO Tim Cook before he turns his post over to John Ternus in September. The World Wide Developers Conference, which attracts thousands of developers from some 60 countries to Apple’s Silicon Valley headquarters, usually focuses on software, in contrast to the fall unveiling of the latest iPhones. Analysts expect the iPhone maker to give updates on new AI features and capabilities, including developments with its Siri voice assistant. Apple has been playing catch-up with on AI with its Big Tech peers.
Oil prices are volatile with potential easing of violence after an exchange of fire
Wall Street pointed toward gains and oil prices briefly rose more than $4 as fighting between Israel and Iran escalated. Oil prices settled back after Iran’s military said it would stop offensive operations. Futures for the S&P 500 rose 0.6% before the opening bell Monday, while futures for the Dow Jones Industrial Average ticked up 0.2%. Nasdaq futures climbed 1.2%. Chipmaker Micron jumped 7.2%, while Super Micro Computer, which makes servers and other data storage products, rose 6.3%. Brent crude, the international standard, was up $1.12 to $94.21 a barrel at 8 a.m. Eastern after being up $4.60 a barrel overnight.
A new exchange of fire with Iran in the Gulf tests the fragile ceasefire
CAIRO (AP) – Iran has fired ballistic missiles and drones toward Bahrain and Kuwait. That’s according to Bahrain’s government. The U.S. said Saturday that it intercepted several aimed at Gulf allies and the Strait of Hormuz. Bahrain called on Tehran to stop what it called a “serious escalation.” Iran said it targeted the U.S. military and its foreign ministry accused the U.S. of attacking surveillance facilities on Qeshm Island. Tehran called it a violation of the fragile ceasefire. Meanwhile, the U.S. Treasury Department is considering allowing Gulf allies to tap into frozen Iranian assets to pay for damages they sustained in the war.
Broken speaker? Finicky zipper? Anticonsumerist Repair Cafes urge you to fix it instead of pitch it
NEW PALTZ, N.Y. (AP) – Repair Cafes are part of a new brand of anticonsumerism. The cafes and other efforts try to offer an alternative to mass-produced, disposable goods that have dominated the economy for the last half-century. Repair Cafes are free events where volunteers with technical know-how help neighbors fix household items. They started in the Netherlands with a single cafe in 2009 and grew to a global nonprofit. At a recent event in New Paltz, New York, volunteers helped attendees fix items from lamps and knives to sound mixers and balky zippers. There’s also the Buy Nothing Project and a growing number of tool-lending libraries. All are dedicated to repairing, trading, and giving instead of buying and selling.
Armenians vote in general election under Russian pressure aimed at preventing a drift toward West
YEREVAN, Armenia (AP) – Armenians are voting in a parliamentary election as the government seeks to loosen ties with Moscow and increase cooperation with the West. Two political blocs and 17 parties are running in the election on Sunday. Prime Minister Nikol Pashinyan and his governing party are looking for a strong mandate for a new geopolitical course. Most experts predict Pashinyan will come out ahead. But opposition parties support closer ties with Russia and some are vocally pro-Russia. Russian officials recently have imposed restrictions on Armenian exports. Russian President Vladimir Putin along with other senior officials have made veiled threats.
Health workers at the epicenter of Congo’s Ebola outbreak labor with little pay or rest
MONGBWALU, Congo (AP) – Health workers inside the epicenter of Congo’s outbreak say they are working with little pay or rest. The mining town of Mongbwalu attracts a huge number of laborers for large gold mines who live in crowded mining camps. That makes the transmission of the disease easier. The virus spreads through close contact with sick or deceased patients’ bodily fluids. Congolese authorities said Sunday that there are 488 confirmed cases including 86 deaths. The Central African nation on Thursday recorded 71 new cases. Authorities say that’s a sign of active community transmission. There have been 19 confirmed cases and two deaths in neighboring Uganda.
China can build humanoids at scale. The hard part is finding enough buyers
HONG KONG (AP) – Chinese humanoid robots are making waves with their ability to do backflips, direct traffic and even make coffee. As such robots become more advanced, Chinese companies are looking for ways to profit from them. The government helped support their development, and startups say they have thousands of orders from both public and private companies looking to deploy them as China grapples with an aging population and rising labor costs. China’s domestic market appears to show strong demand for robots in various sectors from industrial to retail. While the U.S. excels in development of AI-powered robot “brains,” China leads in mass production and hardware and soon may be able to cut prices sharply.
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