• Microsoft co-founder and Berkshire board member Bill Gates, left, and Berkshire Hathaway Chairman and CEO Warren Buffett, center, appear during an interview with Liz Claman on the Fox Business Network in Omaha, Neb., Monday, May 2, 2016. The annual Berkshire Hathaway shareholders meeting took place over the weekend in Omaha with more than 40,000 in attendance. (AP Photo/John Peterson)

    Buffett praises Fed but warns of unintended consequences

    OMAHA, Neb. (AP) — Investor Warren Buffett said the Federal Reserve and other policymakers are generally doing a good job, but it’s difficult to predict all the effects of interest rates remaining low for this long.

  • In this Nov. 17, 2014, file photo, traders gather at the post that handles Baker Hughes on the floor of the New York Stock Exchange. Two companies crucial to the business of U.S. energy exploration — Haliburton and Baker Hughes — have abandoned their planned merger. The Justice Department disclosed the plans on Sunday, May 1, 2016. (AP Photo/Richard Drew, File)

    Halliburton, Baker Hughes eye future after merger scuttled

    DALLAS (AP) — Halliburton and Baker Hughes, whose planned merger is the latest big deal to be shot down by antitrust regulators, now must pick up the pieces and shore up their companies during a severe slump in oil and gas drilling.

  • In this Wednesday, July 29, file 2015 photo, the Puerto Rican flag flies in front of Puerto Rico’s Capitol as in San Juan, Puerto Rico. Puerto Rico Gov. Alejandro Javier Garcia Padilla said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Ricardo Arduengo, File)

    Q&A: Puerto Rico’s debt crisis explained

    NEW YORK (AP) — Puerto Rico’s debt crisis has reached a new level, with the island’s governor saying Puerto Rico will not pay most of its $470 million in debt payments due by Monday.

  • In this Dec. 16, 2015, file photo, Puerto Rico Gov. Alejandro Javier Garcia Padilla speaks at a luncheon at the National Press Club in Washington. Garcia said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Sait Serkan Gurbuz, File)

    Puerto Rico won’t make $370 million in debt payments Monday

    SAN JUAN, Puerto Rico (AP) — A spiraling Puerto Rico debt crisis reached a new milestone as the island missed nearly $370 million on a bond payment Monday and officials warned of worse to come if the U.S. Congress doesn’t help it dig out from a mountain of debt.

  • In this Wednesday, July 29, file 2015 photo, the Puerto Rican flag flies in front of Puerto Rico’s Capitol as in San Juan, Puerto Rico. Puerto Rico Gov. Alejandro Javier Garcia Padilla said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Ricardo Arduengo, File)

    Q&A: Puerto Rico’s debt crisis explained

    NEW YORK (AP) — Puerto Rico’s debt crisis reached a new level late Sunday, when the island’s governor said Puerto Rico would not pay most of its $470 million in debt payments that are due by Monday.

  • In this Dec. 16, 2015, file photo, Puerto Rico Gov. Alejandro Javier Garcia Padilla speaks at a luncheon at the National Press Club in Washington. Garcia said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Sait Serkan Gurbuz, File)

    Puerto Rico won’t make $370 million in debt payments Monday

    SAN JUAN, Puerto Rico (AP) — Gov. Alejandro Garcia Padilla announced that Puerto Rico’s government will not make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the U.S. territory’s spiraling public debt crisis.

  • In this Saturday, Oct. 10, 2015 file photo,  North Korean leader Kim Jong Un waves at a parade in Pyongyang, North Korea. North Korea is preparing to hold a once-in-a-generation congress of its ruling party that is intended to rally the nation behind leader Kim Jong Un and could provide an important glimpse into Kim’s plans for the country’s economy and military. The congress is set to begin May 6, 2016. (AP Photo/Wong Maye-E, File)

    North Korea party congress to show unity around Kim Jong Un

    TOKYO (AP) — North Korea is preparing to hold a once-in-a-generation congress of its ruling party that is intended to rally the nation behind leader Kim Jong Un and could provide an important glimpse into Kim’s plans for the country’s economy and military.

  • A masked protestor kicks a tear gas canister during clashes with riot police as part of the traditional May Day march in Paris, France, Sunday, May 1, 2016. The traditional May Day rallies are taking on greater weight this year in France as Parliament is debating a bill that would allow longer working hours and let companies lay workers off more easily. (AP Photo/Michel Spingler)

    Union workers take to the streets in May Day rallies

    Trade unions and other groups are staging rallies around the world to mark International Workers Day. A look at some May Day events:

  • Milwaukee applies for $20M grant to extend streetcar

    MILWAUKEE (AP) — The city of Milwaukee is applying for a $20 million federal grant to extend a planned streetcar north to the new Milwaukee Bucks arena.

  • A worker carries spray bottles of gel fuel to help the burning, as he walks past pyres of ivory that were set on fire in Nairobi National Park, Kenya Saturday, April 30, 2016. Kenya's president Saturday set fire to 105 tons of elephant ivory and more than 1 ton of rhino horn, believed to be the largest stockpile ever destroyed, in a dramatic statement against the trade in ivory and products from endangered species. (AP Photo/Ben Curtis)

    Kenya to burn huge pile of ivory tusks to protest poaching

    NAIROBI, Kenya (AP) — Kenya’s president set fire Saturday to 105 tons of elephant ivory and more than 1 ton of rhino horn, believed to be the largest stockpile ever destroyed, in a dramatic statement by this East African country against the trade in ivory and products from endangered species.