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Trump signs new stablecoin regulations into law, a major milestone for crypto industry

WASHINGTON (AP) — President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar. The law, passed with bipartisan support, introduces consumer protections and aims to boost confidence in the crypto industry. On Friday, Trump called the move a step toward cementing U.S. dominance in global finance and crypto technology. A provision bans Congress members from profiting off stablecoins but excludes the president and his family. Meanwhile, the House passed two additional crypto-related bills, now heading to the Senate, to reshape market structures and limit Federal Reserve actions.

New airport scanners are better at spotting liquid explosives, but many airports lack them

Newer airport screening machines that operate like medical CT scanners are better at spotting liquid explosives, but many airports still lack that expensive equipment. So security experts remain concerned about vulnerabilities that were exposed by a thwarted 2006 bombing plot that led to restrictions on the amount of liquids in travelers’ carry-on bags. Only 255 of the United States’ 432 airports have the new screening machines. The United Kingdom was planning to relax its liquid rules last year, but that was delayed because several major airports still lacked the new machines.

Gene therapy maker Sarepta tells FDA it won’t halt shipments despite patient deaths

WASHINGTON (AP) — Drugmaker Sarepta Therapeutics says it won’t comply with a request from U.S. regulators to halt all shipments of its gene therapy. The Food and Drug Administration made the request Friday after the confirmation of a third death receiving one of its treatments for muscular dystrophy. The company’s decision not to comply is highly unusual. The FDA says officials met with Sarepta executives and requested the halt in sales. Sarepta says in a statement that its scientific review showed no new safety concerns for younger patients with Duchenne’s muscular dystrophy. The company said it plans to keep the drug, Elevidys, available for those patients.

The owner of the Tennessee factory where workers drowned after Hurricane Helene won’t face charges

NASHVILLE, Tenn. (AP) — The owner of a factory where six workers died last year in flooding from Hurricane Helene won’t face charges after a Tennessee Bureau of Investigation found no criminal wrongdoing. First Judicial District Attorney General Steven Finney announced the decision to close the case on Friday. Finney says the investigation found no evidence that Impact Plastics employees were told they would be fired if they left the factory. It also found employees had time to evacuate the industrial park in Erwin, Tennessee. The conclusion mirrors that of a similar investigation by the Tennessee Occupational Safety and Health Administration. It found that even though the exit road was submerged, workers could have evacuated by makeshift routes.

Union Pacific, Norfolk Southern discuss merger to create transcontinental railroad, AP source says

OMAHA, Neb. (AP) — Union Pacific and Norfolk Southern are in merger talks to create the largest railroad in North America that would connect the East and West Coasts. A person familiar with the talks who isn’t authorized to discuss them publicly said the merger discussions began during the first quarter of this year. Both railroads declined to comment. Within the industry there is widespread debate over whether such a merger would be approved by the Surface Transportation Board even though those regulators approved the deal that created CPKC railroad two years ago. The bar for major railroad mergers in the U.S. was raised substantially after several disastrous deals in the 1990s that snarled traffic.

Congress approves Trump’s $9 billion cut to public broadcasting and foreign aid

WASHINGTON (AP) — The House has approved President Donald Trump’s request to claw back about $9 billion for public broadcasting and foreign aid. The White House argued that the cuts best served the taxpayer and would incentivize other nations to do more to address humanitarian crises. The cancellation of $1.1 billion for the Corporation for Public Broadcast represents the full amount it is due to receive during the next two budget years.

Chevron gets go ahead for $53B Hess deal, and access to one of the biggest oil finds this decade

HOUSTON (AP) — Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade. Chevron said Friday that it completed its acquisition of Hess shortly after the ruling from the International Chamber of Commerce in Paris. Exxon had challenged Chevron’s bid for Hess, one of three companies with access to the massive Stabroek Block oil field off the coast of Guyana. Guyana is a country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years.