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Oil tumbles after Saudis cut ties with Qatar. Oil traded near $47 a barrel as a diplomatic clash involving OPEC members Saudi Arabia and Qatar was seen as having limited impact on supply. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt said they will suspend air, sea and land travel to and from Qatar, escalating a crisis that started from a dispute over relations with Iran. And that’s not the only geopolitical risk facing markets this week.
Theresa May condemned Trump’s attack on the London mayor. Prime Minister May said she thought President Trump was "wrong" to attack London Mayor Sadiq Khan in the wake of Saturday’s terror attack in London, when Khan had called for calm. May has been attacked by both the opposition Labour Party and the media for her reluctance to publicly criticize Trump. Here’s the latest on the attacks in the London Bridge area.
Trump is angry about the “watered down” travel ban — that he watered down. The president criticized the latest version of his own travel ban as "watered down" in a Twitter tirade Monday that also second-guessed his Justice Department’s tactics in taking the case to the Supreme Court. In fact, it was Trump who revoked the original ban when he signed the second version on March 6 after his first executive order was blocked by courts. The latest version, restricting entry into the U.S. by people from six predominantly Muslim countries, also has been put on hold amid arguments it unconstitutionally targets Muslims.
The Kushners are hunting hard for a loan to pay back Chinese investors. The Kushner family real estate company is seeking a $250 million loan against its 50-story New Jersey luxury tower, but is finding some major U.S. banks wary of the controversies around its White House links and the visa program used to attract the investors. Unregulated lenders and non-U.S. banks will probably step into the breach.
Why aren’t American teenagers working anymore? A CareerBuilder survey of 2,587 employers released last month found that 41 percent were planning to hire seasonal workers for the summer, up from 29 percent last year. But many American teens aren’t looking for work. Cranky old people have asserted for generations that they’re just lazy, but a recent analysis offers another theory: It appears that millions of teens aren't working because they're studying instead.
The simple trick to blend in anywhere you travel. Travel magnate Pauline Frommer — yes, of the Frommer’s guidebook wedged in the backseat of your car — always does the same thing when she first arrives at a new destination. She shops for something small in a very local grocery store or pharmacy and carries the bag that her purchases came in around with her. No matter how different she looks from others in the place, she says, the bag marks her as a local—and possibly provides some protection.
With assistance from Editorial Board