Business
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LG Display Q1 2026 slides: OLED shift advances amid revenue decline

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German chancellor downplays row with Trump after troop drawdown announced

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Southwest honors Spirit Airlines captain after retirement flight canceled
Fox News correspondent Madison Scarpino reports on Spirit Airlines shutting down, canceling all flights, causing travelers to rebook with other airlines, on ‘Fox Report.’
A Spirit Airlines captain whose retirement flight was scrapped by the carrier’s sudden shutdown got an unexpected sendoff as a Southwest crew stepped in to honor his decades in the cockpit.
Capt. Jon Jackson was supposed to fly his final trip before retirement but instead found himself seated in the back of a Southwest flight heading home with his son, Chris Jackson, a Southwest first officer, Southwest wrote on Instagram.
“Chris casually mentioned to the flight’s pilots that this would have been his dad’s retirement flight. They seized the opportunity to change the course of the day for Capt. Jackson,” the post read.
The crew quickly sprang into action, coordinating with dispatchers to arrange a surprise retirement tribute upon landing in Baltimore.
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A Spirit Airlines Airbus A321 aircraft parked at Luis Munoz Marin International Airport after the airline announced it was ceasing operations, in Carolina, Puerto Rico, May 2, 2026. (Reuters/Ricardo Arduengo)
When the aircraft touched down, airport fire crews greeted it with a traditional water cannon salute, a symbolic honor typically reserved for milestone flights. Ground crews then welcomed the veteran pilot at the gate with cheers and a celebratory bottle of champagne.
“Ladies and gentlemen, Mr. Jon Jackson,” a gate agent said over an intercom as the retiring pilot walked out to a round of applause from airport workers and travelers at the crowded gate.
“Very overwhelming, I can’t thank you all enough,” Jackson said as he received a bottle of champagne. “As Spirit goes down, this is kind of a sad day, and you guys made it incredible. Thank you so much.”

Spirit Airlines jets sat on the tarmac at Fort Lauderdale-Hollywood International Airport in Florida, on May 2, 2026. (Giorgio Viera/AFP via Getty Images)
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Southwest said the gesture was meant to recognize Jackson’s years of service after his original retirement plans were abruptly canceled.
“It was a powerful reminder of the aviation community’s ability to show respect, compassion, and solidarity when it matters most,” the airline said in the social media post.
The memorable farewell comes after Spirit announced early Saturday it would cease operations immediately, canceling all flights and shutting down customer service, leaving many travelers stranded.

A message from Spirit Airlines at Orlando International Airport, as the airline announced it was ceasing operations early Saturday morning, in Florida, May 2, 2026. (Reuters / Miguel Rodriguez)
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The collapse of the budget airline also reignited debate over whether federal regulators got it wrong in blocking a proposed JetBlue-Spirit merger, with opponents now arguing the decision may have reduced competition and contributed to the airline’s downfall.
Fox News Digital’s Jasmine Baehr contributed to this report.
Business
Kashkari says Iran war limits Fed’s ability to provide rate guidance

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Iran says it has received US response to its latest offer for talks

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Mattel Q1 2026 slides: revenue beats amid sharp margin decline

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Iran reportedly reviews US response to 14-point proposal via Pakistan

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Business
Iran conflict pushes US gas prices to all-time record highs this summer
FOX Business correspondent Lauren Simonetti reports on rising crude oil prices as analysts forecast $5-a-gallon gas prices by Memorial Day amid Middle East tensions near the Strait of Hormuz on ‘Varney & Co.’
Gas prices are entering the summer driving season at record levels, with the national average hitting $4.45 on May 2—the highest ever for that date.
That’s up about $1.28 from a year ago, according to AAA, with prices rising across nearly every region.
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The milestone underscores ongoing volatility in fuel markets, driven in part by the escalating conflict involving Iran, which has disrupted global oil supplies and pushed crude prices higher.
It also suggests the usual seasonal run-up is starting from a much higher baseline. For consumers, that likely means higher transportation costs and continued pressure on household budgets.
SAN FRANCISCO BECOMES FIRST US CITY WHERE DIESEL PRICES TOP $8 A GALLON

People fuel vehicles at a gas station in Los Angeles, on Nov. 15, 2021. (Zeng Hui/Xinhua via Getty Images / Getty Images)
West Coast drivers are seeing the highest costs, with prices reaching $6.10 per gallon in California and $5.67 in Washington. Meanwhile, on the East Coast, gas prices have surpassed $4 in several areas, including $4.48 in Washington, D.C., and $4.52 in Pennsylvania.
Meanwhile, in the Midwest, Illinois stands out at $4.93 per gallon, while much of the region remains in the mid-$4 range. While Southern states remain comparatively cheaper, prices are climbing there as well, with Georgia at $3.85, Texas at $3.92 and Florida higher at $4.34.
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A person is seen grabbing the nozzle for diesel fuel at a gas station. (Rebecca Noble/Bloomberg/Getty Images / Getty Images)
Beyond gasoline, other fuel costs are rising even faster. Diesel has climbed to $5.64, up about $2.09 over the past year. As a key fuel for freight, shipping and public transportation, it is especially sensitive to supply disruptions — and its rising cost can quickly ripple through the broader economy, pushing up prices on everything from groceries to goods.
The surge underscores the broader economic risks tied to the standoff, as uncertainty around the Strait of Hormuz continues to weigh on energy markets.
Business
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