Spirit Airlines shut down over the weekend after a White House bailout plan fell through.

The airline had been banking on a $500 million lifeline that would have given the federal government the right to a 90% stake in the company, but some bondholders—including billionaire Ken Griffin’s hedge fund Citadel—reportedly balked at the government’s insistence on being paid back before other creditors.

Spirit went through bankruptcy twice since 2024, and the rising cost of jet fuel is squeezing the industry.

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President Donald Trump reignited trade tensions with a new 25% tariff on cars and trucks imported from the European Union, which he said “forces them to move their factory production [to the U.S.] much faster.”

In the wake of its dispute with Anthropic, the Pentagon announced agreements with OpenAI, Alphabet, SpaceX and other tech firms to use their AI tools on classified military networks.

U.S. Attorney Jeanine Pirro again suggested she could reopen a criminal investigation of Federal Reserve chair Jerome Powell after he cited the possibility of further legal action in his decision to remain on the Fed’s board.

Social Security benefits penalize some workers while rewarding others. For instance, the system only calculates your benefit based on your highest 35 years of earnings, hurting workers who put in more hours. And as the system runs out of cash, today’s younger workers will in effect be paying for their own retirement—plus some of their parents’ retirement.

MORE: To learn more about the future of Social Security benefits, Forbes is hosting a members-only discussion tomorrow, Tuesday, May 5, at 12 p.m. ET. We’ll........

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