President Trump’s war with Iran continues to provoke economic consequences. With the Strait of Hormuz closed, Middle East crude oil will be blocked from reaching refineries, including those in California. In this episode, what happens if those refineries run out of oil. Plus: Single-family home construction slows as costs rise, winter Paralympians face unique obstacles, and fickle weather reshapes the ski resort business model.
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In the opening strike of their war on Iran, the US and Israel killed the Islamic Republic’s supreme leader, Ayatollah Ali Khamenei. It is an exceedingly rare instance of democracies killing a foreign head of state.
It’s not the first time the United States has been involved in the killing of a foreign leader, but it’s something U.S. leaders and the American public have long wrestled with.
NPR’s Ryan Lucas reports.
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This episode was produced by Mallory Yu and Erika Ryan, with audio engineering by Jay Czys.
It was edited by John Ketchum and Anna Yukhanov.
Our executive producer is Sami Yenigun.
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ICE may have wound down its operations in Minnesota, but the state is still facing the economic consequences of Operation Metro Surge. This has fueled concerns that an eviction crisis could take hold, particularly in the Twin Cities. On today’s show, Kimberly joins MPR News correspondent Dana Ferguson in St. Paul, Minnesota to discuss measures the state legislature is taking to provide economic relief to renters, and what life has been like since she last checked in with us on “Make Me Smart.”
Law enforcement sources tell CBS News there were mortar-type explosives found in the vehicle that rammed into a synagogue in the Detroit suburbs. The driver was killed by a security guard.
Shooter at Old Dominion University identified as a former Virginia national guardsman who was imprisoned for providing material support to ISIS.
Iran's leader says Strait of Hormuz will remain closed.
P.M. Edition for Mar. 12. The economic risks of the war in Iran are getting real on Wall Street. Brent crude jumped above $100 a barrel and U.S. stocks sold off. Plus, the tie-up in the Strait of Hormuz is rippling across the global economy, and that includes sending the price of fertilizer skyrocketing. We hear from Journal agriculture reporter Patrick Thomas about what this means for U.S. farmers going into the spring planting season. And employees of medical-technology company Stryker woke up yesterday to find that their devices had been disabled due to a cyberattack. James Rundle, who covers cybersecurity for WSJ Pro, discusses how the war in the Middle East is playing out in the world of hackers. Alex Ossola hosts.
An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor.
Plus: Lucid launches three new models and a robotaxi as the EV company expands its midsize-vehicle platform. And Atlassian to cut about 10% of its workforce. Julie Chang hosts.
Atlassian announced that it is letting about 10% of its workforce go today. Management said it was because AI is making the company more efficient, but we’re wondering if there is more to it than that. Plus, some napkin math on the Strategic Petroleum Reserve release and Dollar General’s most recent earnings
Tyler Crowe, Matt Frankel, and Jon Quast discuss:
- Altassian’s Layoffs
- The challenges facing SaaS companies in an age of efficiency
- Assessing the impact of the SPR release and how it changes our investing approach
- Dollar General’s earnings and its ongoing turnaround project
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Five months ago, President Trump declared ceasefire in Gaza, having negotiated a deal that includes phased Israeli withdrawal from the territory and Hamas disarmament. But that was before the U.S. and Israel launched a war in Iran taking the Trump administration’s attention away from the Palestinian territory. We go to Gaza and find it’s still cutoff from the outside world and gains towards a durable peace have been paused or reversed.
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We’re raining hellfire down on Iran and American soldiers have died, but that doesn’t stop Trump from hitting the links, doing a little dancing, or holding a revenge rally. His main preoccupation is his daily PR battle over the war—which currently involves arguing that higher gas prices are a good thing. And his ever dutiful backup chorus in Congress is happy to explain how “freedom isn’t free.” Meanwhile, the immigration system has been so undone that we now have a shortage of seasonal workers. Plus, the absurd shoe-related loyalty test at the White House, a major Trump donor is trying to buy a Senate seat in Oklahoma, at least one white Afrikaner refugee has seen enough and wants to go home, Sam and Tim have new Cabinet member rankings, and some justice for JVL and Bill after Wednesday's pod.
