NPR News: 05-04-2026 11PM EDT
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What recent events led to President Trump's small business summit?
Live from NPR News, I'm Giles Snyder. President Trump hosted a small business summit at the White House today with the Iran war in the backdrop.
Can't let them have a nuclear weapon or you're going to have problems like nobody would believe. And it's going very well.
Trump spoke as fighting in the Middle East flared up again today. The U.S. and Iran launched fresh follies after President Trump announced a new effort to reopen the Strait of Hormuz to ship traffic. The U.S. military says it sank six small Iranian boats and the United Arab Emirates as an oil port came under attack by Iranian missiles. In a social media post, Iran's foreign minister warned that the U.S. and the UAE should be wary of being dragged back into a quagmire. The national average for a gallon of regular gas around $4.46 in California at $6.11, up nearly 35 cents in just one week. The oil cartel OPEC has announced a boost in production, but as NPR's Camilla Dominovsky reports, that will not provide any near-term relief.
OPEC and its allies have lost some of their leverage over markets now that United Arab Emirates has left the group. But the bigger problem is that key members rely on the Strait of Hormuz to export crude. So whatever OPEC announces, the biggest question remains, how many ships are getting through that key waterway? And the answer to that is not many between Iranian tolls and the U.S. blockade. In the U.S., gasoline prices had been easing since the ceasefire announcement, but between the global oil supply crisis and U.S. refinery outages, prices are rising aggressively again. Camila Dominovsky, NPR News.
The Secret Service says it exchanged gunfire with an armed suspect near the White House on Monday. The incident led to a brief White House lockdown and happened not long before Vice President J.D. Vance's motorcade passed through the area. The Secret Service says there is no indication that Vance's motorcade was a target. Officials say the suspect has been hospitalized and that a minor was shot but not seriously injured. GameStop has proposed buying eBay with an eye toward creating a rival to Amazon. GameStop offering about $56 billion in a long-shot bid, as NPR's Alina Selyuk reports.
eBay says it received no notice or outreach before GameStop made its takeover bid. And eBay as a company is about four times bigger than GameStop. Still, in a statement, eBay says it will bring the proposal to its board for review. In recent years, GameStop, under its CEO Ryan Cohen, has risen in profile as a darling of meme stock investors. Cohen is the founder of bed goods company Chewy, and he had a prominent stake in Bed Bath & Beyond before its spiral into bankruptcy. GameStop has recently built up a stake in eBay, which lately has been working to refresh itself. eBay is trying to go after younger shoppers with trading cards and secondhand fashion. In February, eBay said it's buying Depop, a popular secondhand clothing app.
Alina Seljuk, NPR News.
This is NPR. The state of New Mexico is asking a judge to declare the parent company of Facebook, Instagram, and WhatsApp a public nuisance. The state wants Meta to pay $3.7 billion and overhaul its platforms to protect young users. Opening statements began Monday in the second phase of a landmark trial. In the first phase, jurors ordered $375 million in civil penalties against Meta. After determining that Meta knowingly harmed the mental health of children, and concealed what it knew about sexual exploitation on its platforms.
How are rising gas prices affecting consumers and the economy?
The 2026 Pulitzer Prizes have been announced in peers on Astasia Siolkas' reports.
The Fiction Prize went to author Daniel Kraus for his novel Angel Down, a story of World War I soldiers who find a fallen angel among the dead, a tale that Kraus tells entirely within one sentence. Other winners include historian Jill Lepore for her engaging book We the People, A History of the U.S. Constitution. The audio journalism winner was the staff of the podcast Pablo Torre Finds Out, which investigated how the Los Angeles Clippers seemingly ducked the NBA salary cap rule by funneling extra money to their star forward, Kawhi Leonard, via an endorsement deal.
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