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By FATIMA HUSSEIN and CHRIS MEGERIAN

WASHINGTON (AP) — Treasury Secretary Scott Bessent leveled harsh criticism at the operations of the World Bank and the International Monetary Fund on Wednesday even as he tried to reassure nervous investors that the United States would maintain its global leadership role.

“America first does not mean America alone,” he said in a speech to the Institute of International Finance, where he also promised support for the multilateral banks’ core missions. “To the contrary, it is a call for deeper collaboration and mutual respect among trade partners.”

Although Bessent said the IMF and the World Bank are “falling short,” he stopped short of calling for the U.S. to withdraw from the institutions as some conservatives had advocated in a Project 2025 proposal, created by the Heritage Foundation.

He said the institutions “serve critical roles in the international system. And the Trump Administration is eager to work with them—so long as they can stay true to their missions.” read more

Fans of “Shark Tank” probably recall the 2022 episode with Umaro Foods, a Berkeley company that makes vegan bacon out of seaweed. Investor Robert Herjavec put a slice of the product in his mouth and promptly spit it out – not into a napkin, just on his plate – with a loud “ugh.”

Beth Zotter, CEO of Umaro, recalls dying on the inside at that moment. “Oh yeah — but I don’t think it showed up in my expression,” she says.

Zotter wound up having the last laugh on “Shark Tank.” Mark Cuban liked the plant-based bacon and plopped down a $1 million investment in Umaro, which Zotter co-founded with plant biologist Amanda Stiles in 2019. By 2024, the company was gross-margin positive with $1 million in annual-recurring revenue. Today, you can find its applewood bacon in Whole Foods stores across California. Even the NBA’s Chris Paul, a vegan, is now an investor.

Seaweed might not be the first thing you think about sidling up on a plate with fried eggs and hash browns. But it’s high in protein, one of fastest-growing plants on earth and requires no land, fresh water or fertilizer. As the world’s food-supply chain gets ever-more stressed – a result of climate change, population growth, unpopular tariffs and the like – it’s being seen as a viable future food, in the vein of cell-cultured meat and cricket flour. read more

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Uncertainty over tariffs and an unpredictable trade war is weighing heavily on companies as they report their latest financial results and try to give investors financial forecasts.

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  Bessent assails IMF and World Bank and says there’s an ‘opportunity for a big deal’ with China

• 
  The startup behind Shark Tank’s seaweed-based bacon

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  Port Canaveral breaks $100M in revenue over 6 months after record cruise month

• 
  Home buyers may face surprise credit hit from student loans

• 
  The world’s biggest companies have caused $28 trillion in climate damage, a new study estimates

Some tariffs remain in place against key U.S. trading partners, but others have been postponed to give nations time to negotiate. The tariff and trade picture has been shifting for months, sometimes changing drastically on a daily basis. Those shifts make it difficult for companies and investors to make a reliable assessment of any impact to costs and sales. read more

Port Canaveral’s nearly 926,000 cruise passengers in March fueled a record month that saw operating revenue halfway through the fiscal year top $100 million for the first time.

“It wasn’t that long ago that we were excited about a half a million guests, breaking the 500,000 mark, and 926,000 is crazy in one month,” port CEO Capt. John Murray said during the port authority commission meeting Wednesday.

For the six months from October 2024 through March 2025, the port had 544 ship calls with more than 4.4 million multiday passenger movements. At this point last year, the port had only 480 ship calls and 3.9 million passenger movements. The fiscal year runs through September.

And more passengers means more parking fees: The port set a one-day record in March of more than 11,000 cars.

“It’s even stronger demand this year than it was last year during spring break,” Murray said. “We’ve been predicting it, and we’re ready for it, so it’s been successful.”

For the six months, cruise-related operating revenue topped $102 million while cargo, leases and recreation added nearly another $10 million. Overall operating expenses were near $67 million, which gives the port around $43 million to pay off debt and invest in projects. read more

Spring and summer are traditionally hot months for homebuying, but some would-be buyers with student loan debt could encounter unexpected trouble.

Related Articles

• 
  Bessent assails IMF and World Bank and says there’s an ‘opportunity for a big deal’ with China

• 
  The startup behind Shark Tank’s seaweed-based bacon

• 
  Tariff turmoil: How Tesla and other companies are dealing with the uncertainty of the trade war

• 
  Port Canaveral breaks $100M in revenue over 6 months after record cruise month

• 
  The world’s biggest companies have caused $28 trillion in climate damage, a new study estimates

Nearly 10 million federal student loan borrowers may be facing delinquency, potentially dropping their credit scores by 150 points or more, according to a report released by the Federal Reserve Bank of New York on Mar. 26. That kind of damage could torpedo homebuying plans. Here’s why this is happening, and what borrowers can do.

Why delinquencies are rising

From March 2020 through September 2023, federal student loan payments were suspended as an emergency pandemic measure. To transition borrowers back to repayment, the Biden administration created the student loan on-ramp, a 12-month period when late or missed payments weren’t penalized. read more