DUBAI, United Arab Emirates (AP) – The United Arab Emirates said Tuesday it will leave OPEC effective May 1, stripping the oil cartel of one of its largest producers and further weakening its leverage over global oil supplies and prices.

WASHINGTON (AP) – Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement.

Excerpts from recent editorials in the United States and abroad:

MELBOURNE, Australia (AP) – Australia has proposed taxing digital giants Meta, Google and TikTok a proportion of their revenue to pay for news reporters. The government released draft legislation that would create a financial incentive for the social media companies to strike deals with news organizations to pay for journalism.

FRANKFURT, Germany (AP) – The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price of energy around the globe.

BP’s profit more than doubled in the first quarter as the war in Iran drove energy prices sharply higher. On the same day that the British energy giant reported a banner financial performance, gasoline prices in the U.S. hit new multiyear highs, a point of increasing agitation for travelers, households and also businesses.

Chiang Saen, THAILAND (AP) – Perched on the bow of his long-tail fishing boat, 75-year-old Sukjai Yana untangled a handful of small fish from his net, disappointed by his catch and fretting over whether he can sell them.

NEW YORK (AP) – General Motors is expecting a $500 million tariff refund after the Supreme Court struck down some of President Donald Trump’s most sweeping levies. That’s boosted the Detroit auto maker’s outlook for 2026. On Tuesday, GM said it’s now looking to rake in $13.5 billion to $15.5 billion in earnings before interest and taxes this year.