BUSINESS HEADLINES

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Fired federal workers hunt for new jobs but struggle to replace their old ones

NEW YORK (AP) — Job searches can be tough for anyone, but some of the federal workers flooding the market after widespread layoffs are finding it particularly tough. Park ranger? Nuclear submarine engineer? Diplomat? Some jobs are almost exclusively the realm of government, making the search even harder. President Donald Trump and his cost-cutting czar, billionaire Elon Musk, have presided over thousands of federal job cuts touching nearly every part of the country. Those workers are now on the hunt for replacement work and are likely to be joined by others. The White House and its Musk-headed Department of Government Efficiency are telling agency leaders to plan for “large-scale reductions in force” and the freezing of trillions of dollars in federal grant funds.

A report says Chinese fishing vessels used North Korean crews in breach of UN bans

SEOUL, South Korea (AP) — A report says a fleet of Chinese fishing vessels used North Korean crews in violation of U.N. bans and many were apparently subjected to abuses including being trapped at sea for years. The report published Monday by the London-based Environmental Justice Foundation says it identified the presence of North Koreans on 12 Chinese tuna long-liners operating in the southwest Indian Ocean. The report is mostly based on interviews with 19 Indonesians and Filipinos who worked alongside the North Koreans. China’s Foreign Ministry did not comment immediately. The U.N. bans were related to North Korea’s nuclear and long-range missile tests.

Warren Buffett offers Donald Trump some advice while celebrating Berkshire Hathaway’s success

OMAHA, Neb. (AP) — Warren Buffett is celebrating the successes of Berkshire Hathaway’s companies last year and in the 60 years since he took over a struggling New England textile company and began converting it into a massive conglomerate. Buffett opened his annual letter to shareholders Saturday by acknowledging that he has occasionally made mistakes over the years without offering many specific examples. But he assured shareholders that the man he has chosen to one day succeed him as CEO, Greg Abel, isn’t one of them. Buffett also offered some subtle advice for President Donald Trump by urging Uncle Sam to be responsible with the $26.8 billion in income taxes Berkshire paid last year and take care of the many who get a short straw in life.

Musk’s cost-cutting team is laying off workers at the auto safety agency overseeing his car company

NEW YORK (AP) — Elon Musk’s cost-cutting team is eliminating jobs at the vehicle safety agency that oversees Tesla and has launched investigations into deadly crashes involving his company’s cars. The National Highway Traffic Safety Administration has cut a “modest” amount of positions, according to a statement from the agency. Musk has accused NHTSA of holding back progress on self-driving technology with its investigations and recalls. Asked about whether the cuts would impact any probes into Tesla, the agency referred to a statement saying it will enforce the law on all automobile manufacturers.

These little-known bank accounts allow Americans with disabilities to save and invest

NEW YORK (AP) — If you’re an American with a disability who receives government assistance, you likely qualify for an ABLE account, or you may starting next year. These little-known accounts allow Americans with disabilities to save and invest money without the risk of losing benefits like Supplemental Security Income or Medicaid. Beginning in 2026, they’ll become available to people diagnosed with a disability before the age of 46, up from the current threshold of 26, increasing access to the accounts by 6 million people. But state treasurers and experts say raising awareness of the accounts is a challenge.

Patients struggle with lack of consistent coverage for popular weight-loss drugs

Supplies of high-demand obesity treatments are improving, but that doesn’t mean they’re easier to get. Many employers and health insurers are scaling back coverage of Wegovy or Zepbound and a key government program, Medicare, doesn’t cover the drugs for obesity. Clouding the picture even further, some big employers are adding coverage. But their commitment isn’t guaranteed. Treatment prices that can top hundreds of dollars monthly even after discounts make it hard for many to afford these drugs on their own. That makes the life-changing weight-loss that patients seek largely dependent on the coverage they have and how long it lasts.

Robinhood says SEC has closed its investigation into the company

Lawsuits filed against cryptocurrency platforms during President Joe Biden’s administration continue to fall away as the administration of President Donald Trump has projected a much more lenient stance on cryptocurrency markets. Robinhood is just the latest company in the mix, announcing on Monday that the Securities and Exchange Commission has closed its investigation into the company and will not pursue an enforcement action. The SEC declined to comment on the matter.

German business leaders say new government must act quickly to rescue stagnant economy

FRANKFURT, Germany (AP) — Germany’s businesses have been frustrated by government inaction on the stagnating economy. Sunday’s national election raises hopes of a stable two-party coalition of conservatives and center-left Social Democrats, with center-right leader Friedrich Merz as likely chancellor. But will it take the swift action business leaders are calling for? Leading economists and business figures are offering their views on the way forward.

California governor asks Congress for nearly $40 billion for Los Angeles wildfire relief

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom has asked Congress to approve nearly $40 billion in aid to help the Los Angeles area recover from January’s devastating wildfires. Newsom sent a letter Friday asking for support from lawmakers. Newsom vowed that the funding would be used to rebuild homes, infrastructure, business, schools, churches and health care facilities. More than 16,200 structures were destroyed as flames ripped through Pacific Palisades, Malibu, Pasadena and Altadena. The governor said the fires could become the costliest natural disaster in U.S. history. Estimates of the total economic loss have been estimated to top $250 billion.