Federal Reserve Vice Chair for Supervision Michelle Bowman discusses the Federal Reserve’s regulatory efforts on ‘Kudlow.’
As the U.S. enters its fifth year of inflation running above the Federal Reserve’s 2% target, major retailers are responding to softer demand and increased competitive pressure.
With consumer sentiment in 2026 divided and the cost of living remaining a top concern among Americans, Target announced Wednesday that it will reduce prices on more than 3,000 items.
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“Busy families are thinking about value as they begin to update their homes and wardrobes for spring,” , Cara Sylvester, Target’s executive vice president and chief merchandising officer, said in a press release.
“We’re delivering by lowering prices on 3,000 spring favorites across apparel, essentials and home,” she continued. “We’re committed to making it easier than ever for guests to have the fresh style and incredible value they love, with lower prices on the items we know they want.”
The discounted categories include women’s and children’s apparel, footwear such as flats, sandals and sneakers, bedding and blankets, baby products, household essentials and pantry staples.
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Shoppers at a Target store in Jersey City, New Jersey, on Nov. 25, 2025. (Getty Images)
Most reductions range from 5% to 20% off original prices and will begin rolling out in stores this month through the spring.
However, the price reduction program excludes stores in Alaska and Hawaii.
Inflation remained above the Federal Reserve’s 2% target in February as policymakers continue to weigh affordability concerns. The Bureau of Labor Statistics said Wednesday that the consumer price index (CPI) — a broad measure of the cost of goods and services, including gasoline, groceries and rent — rose 0.3% in February and increased 2.4% from a year earlier. The annual rate was unchanged from January, while the monthly gain was slightly higher than January’s 0.2% increase.
Storch Advisors CEO Gerald Storch joins ‘Varney & Co.’ to break down tariff uncertainty, Amazon’s rise past Walmart and why retail panic may be overblown.
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The price cuts appear to be part of a broader strategy aimed at restoring sales growth. Target CEO Michael Fiddelke outlined the company’s plan to return to growth during a financial community meeting last week, citing investments in key categories such as women’s apparel, home and baby.
“This new chapter of growth at Target is defined by clear choices and rooted in a deeper understanding of our unique lane in retail, the guests we serve and the areas where we’re distinctly positioned to win,” Fiddelke said.
Former JP Morgan Chase chief economist Anthony Chan breaks down the run up in oil prices on ‘Varney & Co.’
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“This work is underway, and by putting style, design and value at the center of every decision,” he continued, “we’re making big changes to lead with a trend-forward assortment, elevate the guest experience, accelerate with technology and equip our teams to deliver the most delightful experience in retail, for today and over the long term.”
An Illinois ticket holder became an instant multimillionaire after matching all six numbers in Tuesday night’s Mega Millions drawing, securing the first jackpot win of 2026 and ending a weeks-long streak without a top prize winner.
Mega Millions
The winning numbers drawn on March 10, 2026, were white balls 16, 21, 30, 35, 65 and the gold Mega Ball 7. A single ticket sold in Illinois matched the combination to claim the estimated $536 million annuity prize, with a cash option valued at $245.6 million, according to official Mega Millions announcements. The final amount edged slightly higher than the pre-draw estimate of $533 million ($244.2 million cash) due to stronger-than-expected ticket sales.
The victory marks the first Mega Millions jackpot awarded this year, following the last win on Dec. 2, 2025, in New Jersey. Over the intervening 28 drawings, the prize rolled repeatedly, building excitement and drawing players nationwide. Illinois, one of the original participating states since the game’s launch in 2002, now boasts 17 jackpot wins or shares, reinforcing its reputation as a frequent big-prize destination.
Mega Millions officials confirmed the win Wednesday morning, noting the ticket was purchased within the state but withholding the specific retail location pending the winner’s decision on publicity. Winners in Illinois have the option to remain anonymous under state law, a provision that has shielded many past jackpot claimants from immediate media attention.
The prize structure allows the winner to choose between 30 graduated annual payments totaling $536 million or a one-time lump-sum cash payout of $245.6 million before taxes. Most large winners historically opt for the cash option, though financial advisors often recommend evaluating tax implications, investment opportunities and long-term needs.
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Federal taxes will claim about 37% of the lump-sum amount upfront, with Illinois state taxes adding another layer — typically around 4.95% for lottery winnings. After deductions, the take-home could fall to roughly $140 million to $150 million, depending on final calculations and any additional withholdings.
The drawing’s timing added extra significance, as Friday the 13th jackpots have occurred seven times historically, including notable wins in Michigan, New York and Ohio. While Tuesday’s win preceded Friday’s reset drawing, observers noted the coincidence of the game’s occasional Friday the 13th lore.
Ticket sales surged in the lead-up to the $533 million estimate, fueled by media coverage and the allure of a nine-figure windfall. Mega Millions, co-administered by 45 jurisdictions plus the District of Columbia and U.S. Virgin Islands, starts its jackpots at $50 million and grows based on sales and rollovers. The game’s odds of hitting the jackpot remain steep at 1 in 302,575,350, yet the massive potential payout continues to attract millions of players each draw.
This win follows a pattern of significant prizes in recent years. In late 2025, a Georgia player claimed a historic $983 million jackpot — the largest in state history — after purchasing a Quick Pick ticket at a Publix supermarket in Newnan. That prize, drawn in November 2025, ended a prolonged rollover streak and highlighted the game’s ability to produce life-changing sums.
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Earlier in 2025, other notable wins included a $980 million jackpot also in Georgia, underscoring the southeastern state’s recent luck. Illinois’ latest triumph adds to a diverse winner map, with jackpots previously landing in states like California, Florida and New Jersey.
For the immediate future, the Mega Millions jackpot resets to its minimum $50 million (cash value $22.9 million) for the next drawing on Friday, March 13, at 11 p.m. ET. Players can purchase tickets through authorized retailers or, in select jurisdictions like Illinois, via online platforms where available. The game requires selecting five numbers from 1 to 70 and one Mega Ball from 1 to 25, with the optional Megaplier feature multiplying non-jackpot prizes up to 10 times for an additional $1.
Lottery experts remind players to sign the back of winning tickets immediately, store them securely and contact state lottery offices for claiming instructions. Large prizes typically require in-person validation at headquarters, with deadlines varying by state — often 180 days to one year from the draw date.
The Illinois winner’s story remains unfolding, as officials await confirmation of the claim process. Past jackpot recipients have used winnings for philanthropy, debt elimination, family support and business ventures, though financial planners caution against rapid spending and stress the importance of professional guidance.
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As word spreads, the win injects fresh energy into the lottery landscape, reminding participants that while odds are long, someone eventually beats them. With the reset jackpot now in play, eyes turn to Friday’s drawing and the possibility of another rapid buildup.
Mega Millions drawings occur Tuesdays and Fridays, broadcast live and available through official apps and websites. Players are encouraged to check results promptly and responsibly.
The identity and plans of the Illinois winner may emerge in coming weeks, but for now, one fortunate individual holds the distinction of starting 2026 with an extraordinary financial windfall.
Queen Latifah has firmly debunked a viral death hoax that spread across social media this week, assuring fans in a personal video that she is alive, well and “100% A-OK.”
Queen Latifah
The rapper, actress and producer, whose real name is Dana Owens, posted a short Instagram clip on Thursday, March 5, 2026, directly addressing the false rumors that had begun circulating online earlier in the week. In the video, filmed from inside her car, the 55-year-old entertainment icon appeared relaxed and smiling as she spoke to her followers.
“Good morning. It’s me, Latifah,” she said in the clip, which quickly garnered widespread attention. “I’m 100% A-OK. Can’t believe what you read on the internet or see. Can’t believe nothin’ now, right? I’m good. Peace.”
She blew a kiss to the camera before ending the message, emphasizing the unreliability of online information. The post included a note clarifying that a specific clip circulating on Facebook — which some users had misinterpreted or fabricated as evidence of her passing — was fake.
The rumors, which appeared to originate from unverified social media posts and quickly spread to platforms including X (formerly Twitter) and Facebook, falsely claimed the star had died. Some variants of the hoax speculated about causes such as complications from cosmetic surgery like a tummy tuck or hernia procedure, though no credible sources supported any of these claims. The misinformation prompted concern among fans, leading her name to trend briefly as people searched for confirmation.
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Queen Latifah’s swift response highlights a growing trend among celebrities facing similar hoaxes in the digital age. Death rumors have targeted numerous high-profile figures in recent years, often fueled by fabricated posts, AI-generated content or simple misinformation that spreads rapidly before facts can catch up.
The multi-talented artist, known for her pioneering work in hip-hop as one of the first female rappers to achieve mainstream success, has maintained a relatively low-key social media presence in recent times. She rarely addresses rumors directly, making her decision to post the video a notable exception. Sources close to the situation say she felt compelled to speak out after seeing the level of worry among supporters.
Queen Latifah rose to fame in the late 1980s and early 1990s with albums like “All Hail the Queen” and hits including “U.N.I.T.Y.,” which earned her a Grammy Award and became an anthem for women’s empowerment. She transitioned successfully into acting, starring in films such as “Set It Off,” “Chicago,” “Bringing Down the House” and “Girls Trip.” Her television work includes leading roles in “Living Single” and the CBS drama series “The Equalizer,” where she plays Robyn McCall, a modern-day vigilante.
In recent years, she has expanded her influence behind the camera through her production company, Flavor Unit Entertainment. Just around the time the rumors surfaced, reports emerged that she had signed a deal with Lifetime to executive produce three original movies, continuing her commitment to storytelling that highlights diverse voices.
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Queen Latifah has been open about personal health and wellness in interviews. In a June 2025 conversation with The Healthy, she discussed making lifestyle changes to feel stronger and healthier, including adjustments to her routine amid navigating menopause. She has not disclosed any serious medical issues, and her recent public appearances — including attending the 68th Grammy Awards in February 2026 — showed her in good spirits.
The hoax serves as a reminder of the challenges public figures face in an era of instant information sharing. Platforms have struggled to curb the spread of false death claims, which often exploit fans’ emotions for engagement or clicks. Similar incidents have affected other celebrities recently, underscoring the need for caution when consuming unverified online content.
Fans flooded Queen Latifah’s comments sections with relief and support following her video. Many praised her for handling the situation with grace and humor, while others shared messages of appreciation for her contributions to music, film and culture.
As of March 12, 2026, no further rumors have persisted, and Queen Latifah appears focused on her ongoing projects. Her Instagram post, which has been reposted and covered by outlets including TMZ, Billboard, E! News, BET and People, effectively quashed the false narrative.
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In an industry where misinformation can spread faster than verification, Queen Latifah’s direct approach offered a clear message: Verify before believing, and trust the source.
The incident also spotlights the resilience of icons like Queen Latifah, who continue to inspire across generations despite attempts to undermine their legacies through baseless claims. With her trademark poise, she reminded everyone that the Queen is very much alive and reigning strong.
LOS ANGELES — Federal authorities have alerted law enforcement agencies across California to a possible Iranian retaliation involving drone attacks on the West Coast, according to a bulletin reviewed by multiple news outlets, though officials emphasized there is no confirmed imminent threat or specific details about timing, targets or methods.
LOS ANGELES
The FBI distributed the alert to California police departments in late February 2026, warning that Iran had allegedly considered launching a “surprise attack” using unmanned aerial vehicles (UAVs) from an unidentified vessel off the U.S. coast, specifically targeting unspecified locations in California if the United States carried out strikes against Iran.
“We recently acquired information that as of early February 2026, Iran allegedly aspired to conduct a surprise attack using unmanned aerial vehicles from an unidentified vessel off the coast of the United State Homeland, specifically against unspecified targets in California, in the event that the US conducted strikes against Iran,” the bulletin stated, according to reports from ABC News and other sources. “We have no additional information on the timing, method, target, or perpetrators of this alleged attack.”
The warning surfaced publicly on March 11, 2026, amid escalating tensions in the Middle East following U.S. and Israeli military actions against Iran. Reports indicate recent American strikes under the Trump administration targeted Iranian assets, prompting retaliatory drone strikes by Iran against U.S. interests and allies in the region. President Donald Trump commented on the reports, stating he was “not worried” about Iran-backed attacks on U.S. soil.
An FBI spokesperson in Los Angeles declined to comment on the bulletin when reached by media outlets. Officials stressed that the intelligence remains uncorroborated and that no credible, specific threat has been identified. The alert appears intended to heighten vigilance among local law enforcement rather than signal an immediate danger.
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The bulletin fits into a broader context of heightened U.S. counterterrorism concerns related to the Iran conflict. A Department of Homeland Security threat assessment noted that Iran and its proxies “probably” pose a risk of targeted actions against U.S. interests. Additional worries include the potential activation of foreign terrorist cells or “lone wolf” actors inspired by Iranian rhetoric, particularly in areas with large Iranian-American populations like Los Angeles County, home to around 700,000 people of Iranian descent — the largest outside Iran.
The Los Angeles Police Department and other agencies have increased monitoring for such risks, including cryptic broadcasts that could serve as operational triggers for sleeper assets. However, investigators have found no concrete evidence linking these to active plots.
Experts point out logistical challenges for any seaborne drone attack on the U.S. mainland. Iran’s known drone capabilities, while advanced and used extensively in regional conflicts, would face significant hurdles in crossing the Pacific Ocean undetected or launching effectively from international waters off California. U.S. naval and air defenses, including radar systems and fighter intercepts, are designed to counter such threats far from shore.
The alert also coincides with separate concerns about drone threats from non-state actors, including potential use by Mexican drug cartels along the southern border. Officials have long monitored vessels that could preposition equipment for asymmetric attacks, a tactic Iran has employed through proxies in the Middle East.
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California Gov. Gavin Newsom addressed the warning on March 11, stating that state officials are aware of the intelligence and are coordinating with federal partners to ensure preparedness. Local law enforcement in major cities like Los Angeles, San Francisco and San Diego have been advised to remain vigilant, though no changes to public alert levels were announced.
The development underscores the evolving nature of threats to the U.S. homeland in an era of drone proliferation. Iran has invested heavily in UAV technology, exporting drones to allies and using them in strikes that have depleted air defense resources in conflict zones. While direct attacks on the continental U.S. remain unlikely due to distance and detection risks, the bulletin highlights fears of retaliatory actions extending beyond the Middle East.
Public reaction has been mixed, with some social media users expressing skepticism about the feasibility of such an operation, while others called for increased coastal surveillance. The story trended briefly on platforms following ABC News’ initial reporting, with outlets including the Los Angeles Times, Newsweek, Reuters and local California stations providing coverage.
As of March 12, 2026, no new developments or confirmed threats have emerged from the bulletin. Federal agencies continue to monitor the situation closely as the Iran conflict evolves. Officials urged the public to report suspicious activity but reiterated that everyday life should proceed normally absent specific warnings.
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This incident reflects ongoing U.S. efforts to counter Iranian influence operations, including past plots involving espionage, cyberattacks and procurement of sensitive technology for military drones. The FBI maintains that disrupting such threats remains a top priority.
In the absence of corroborated intelligence pointing to an active plot, the warning serves primarily as a precautionary measure to ensure law enforcement readiness amid geopolitical volatility.
A group of US-based investors have been selected as the preferred bidder for collapsed Sheffield Wednesday. The club’s administrators at Begbies Traynor have chosen Arise Capital Partners LLC, led by aviation businessman David Storch, Michael Storch and investor Tom Costin.
Arise is said to have supplied a substantial deposit and evidence of funds in its bid to buy the club, which collapsed into administration last year. Their move has pipped rival bidder and former Newcastle United Mike Ashley.
Administrators say Arise has entered into an exclusivity agreement under which it will fund the club’s trading losses after eight weeks if the deal is not completed in that time. Documents show creditors of the club are owed more than £80m. The offer from Arise – which comes after a previous preferred offer led by James Bord was pulled – is less than the amount needed to pay creditors 25p in the pound..
Begbies Traynor said “Whilst the offer does not deliver the same level of creditor return as the previous proposed transaction, it nevertheless represents the best available outcome currently achievable and provides a clear pathway toward securing the club’s long term future.
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“Our focus remains unchanged: to secure a responsible sale of the Club, protect its future and achieve the best possible outcome for creditors.”
Owls manager Henrik Pedersen met with Mr Storch and Mr Costin ahead of the club’s 1-1 draw with Watford. He said: “They are some very friendly and very interesting people. There was not (a massive amount) of details but the energy was good and they are interesting, very interesting people.
“So I have a very, very positive feeling about it.”
David Storch added: “We are thrilled and excited to take this important step toward stewardship of this historic football club. As we continue through this process, we are looking forward to working with the local community, engaging transparently with fans and embarking together on this journey to restore Sheffield Wednesday to its rightful place.
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“We are absolutely committed to delivering a brighter future for our fans and bringing joy back to Hillsborough.”
To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.
The Swiss chocolatier’s cut to growth expectations for the year comes after it booked lackluster sales over the key Christmas period. A continued gloomy mood among consumers and suppressed appetite for the company’s wares is a central concern for Lindt as uncertainty rises, Chief Executive Officer Adalbert Lechner said.
FTSE 100 insurance giant’s operating profit rises 6% but falls short of analyst forecasts
Legal & General unveiled a share buyback scheme(Image: Newcastle Chronicle)
Legal & General’s share price fell in early morning trading after the asset management and insurance giant’s restructuring was overshadowed by weaker-than-anticipated profits.
Shares dropped 5.5 per cent to 244p on Wednesday, as core operating profit of £1.62bn missed analysts’ £1.65bn forecast, proving a “source of disappointment for investors”, despite climbing six per cent.
The FTSE 100 firm unveiled a £1.2bn share buyback scheme, which combined with dividend per share growth of two per cent, will deliver planned shareholder returns totalling £2.4bn.
Pre-tax profit rose to £807m, whilst earnings per share increased nine per cent to 20.9p. The board put forward a dividend of 21.7 pence, as reported by City AM.
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L&G’s institutional retirement division secured £11.8bn of global pension risk transfer business, including £10.4bn in the UK, enabling the group to strengthen its market-leading position, whilst the “pipeline remains healthy”.
The group’s asset management operation witnessed “modest growth” in assets under management (AUM), recording £1.2 trillion in global AUM, with private markets contributing £75bn—a 32 per cent rise—driven by expansion across private credit, infrastructure and real estate.
It added that it remained confident in achieving its asset management profit target of £500m to £600m by 2028, amid a transition towards higher margin products. Workplace defined contribution pension schemes saw assets under administration (AUA) surge 21 per cent to £114bn, whilst net flows increased three per cent from £6.0bn to £6.2bn.
Platform membership reached 5.8m, with an additional £3.7bn of assets scheduled to be onboarded during the current financial year.
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Richard Hunter, head of markets at Interactive Investor, said: “There is little doubt as to the longer-term potential for the savings and investment market, especially given ageing demographics and likely welfare reform, while the growing demand for retirement income is another tantalising string in the group’s bow.
“It now remains to be seen whether these numbers entice unconvinced investors back into the fold, where the market consensus of the shares as a hold has been in place for some time, although the initial price reaction suggests that there remains more work to do.”
Antonio Simoes, chief executive of L&G, highlighted the group had “addressed legacy complexities” and was “driving forward” its growth strategy across core operations, with analysts observing the group’s long-term plan is materialising.
Simoes said: “As a sharper, more focused business, we are well-positioned to capitalise on the structural, growing demand for long-term investments and retirement income.”
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The company’s growing pension risk transfer division is also anticipated to drive expansion, with the UK market operating at £40bn to £50bn annually, meaning Legal and General’s £10.4bn accounts for roughly 20 per cent of market share.
Hugh Fairclough, partner and head of financial services at RSM UK, said: “What differentiates L&G is its integrated model.
“In a more competitive bulk annuity market, pricing alone no longer wins the biggest deals. The decisive factor is increasingly asset origination… That’s why we’re seeing an asset‐sourcing arms race across the pension risk transfer market, and why insurers with strong origination platforms are pulling ahead.
“With a 2026 pipeline that includes £17 billion of transactions actively being priced, and multiple £1bn‐plus deals already in view, L&G is well‐positioned to lead the next phase of market growth.”
Good day, everyone, and welcome to the Cintas Investor Call. Today’s call is being recorded. At this time, I would like to turn the call over to Mr. Jared Mattingley, Vice President, Treasurer and Investor Relations. Please go ahead, sir.
Jared Mattingley VP, Treasurer, Investor Relations & Corporate Controller
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Thank you, Ross, and good morning, everyone. This call and the Q&A session that follows will contain forward-looking statements. Actual results could differ materially from projected or estimated results. In particular, forward-looking financial information for the post-closing combined company is inherently uncertain due to a number of factors outside of Cintas and UniFirst’s control.
Information regarding factors that could cause differences in actual results is available in today’s press release and presentation and in Cintas’ and UniFirst’s SEC filings. The information presented and discussed on this call is representative of today only. Cintas and UniFirst assume no obligation to update any forward-looking statements. This call is copyrighted and may not be used without written permission from Cintas and UniFirst.
Here with me today are Todd Schneider, Cintas’ President and Chief Executive Officer; and Scott Garula, the company’s Chief Financial Officer. Jim Rozakis, Cintas’ Chief Operating Officer, will also be available during the Q&A portion of the call. This morning, we announced that Cintas has entered into
Blue Compass RV President and CEO Jon Ferrando joins ‘Mornings with Maria’ to discuss rising gas prices and why he says RV demand remains strong ahead of summer travel and America’s 250th anniversary.
A projectile hit a Thai-flagged cargo ship off the coast of Oman in the Strait of Hormuz, setting it on fire.
The Iranian regime reportedly claimed responsibility for striking the ship, the Mayuree Naree. The Omani navy was assisting in rescuing crew members amid the blaze, according to Thailand’s Marine Department. Iran has been targeting commercial shipping vessels through the strategic passageway amid tensions surrounding the global energy sector.
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U.S. Central Command later issued a warning to civilians “that the Iranian regime is using civilian ports along the Strait of Hormuz to conduct military operations that threaten international shipping.” CENTCOM stressed, “This dangerous action risks the lives of innocent people. Civilian ports used for military purposes lose protected status and become legitimate military targets under international law.”
The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz, March 11, 2026. (Royal Thai Navy/Handout via Reuters)
The United Kingdom Maritime Trade Operations (UKMTO) Centre had issued reports earlier Wednesday of ships being struck in the region, including one about a cargo ship reportedly being hit in the Strait of Hormuz.
“UKMTO has received a report of an incident 11NM north of Oman in the Straits of Hormuz. It has been reported that a cargo vessel has been hit by an unknown projectile in the Straits of Hormuz which has resulted in a fire onboard,” the warning stated, with an update noting that the fire was “extinguished.”
One of the other warnings stated, “UKMTO has received a report of an incident 25NM northwest of Ra’s al Khaymah, UAE. The Master of a container vessel has reported that the vessel has sustained damage from a suspected but unknown projectile.” It also noted, “The Master additionally reports that all crew members are safe and accounted for.”
The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz, March 11, 2026. (Royal Thai Navy/Handout via Reuters)
“UKMTO has received a report of an incident 50NM northwest of Dubai, United Arab Emirates. The Master of a Bulk Carrier has reported their vessel being hit by an unknown projectile,” another warning stated. “The crew are reported safe and well.”
In a Monday Truth Social, President Donald Trump warned of consequences if Iran acts to stop the transport of oil in the Strait of Hormuz.
“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far. Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again — Death, Fire, and Fury will reign upon them — But I hope, and pray, that it does not happen!” Trump warned in the post.
The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz, March 11, 2026. (Royal Thai Navy/Handout via Reuters)
Iran’s Revolutionary Guard has said that it “will not allow the export of even a single liter of oil from the region to the hostile side and its partners until further notice,” according to the Associated Press.
Gas prices have been surging in the U.S. as Trump prosecutes the controversial war effort against the Islamic Republic along with the nation of Israel, a close U.S. ally.