Ticker: Airlines cannot refuel in Cuba amid energy crisis
The day’s business news at a glance
A Turkish Airlines plane takes off alongside an American Airlines plane at Jose Marti International Airport in Havana, Cuba, Monday, Feb. 9, 2026. (AP Photo/Ramon Espinosa)
Cuban aviation officials have warned airlines of a fuel shortage for refueling on the island. This is part of energy rationing as the Trump administration cuts Cuba off from its fuel sources.
The shortage stems from U.S. political pressure severing Cuba’s access to oil from Venezuela and Mexico. Shorter flights may not be affected, but long-haul routes face challenges. The energy crisis has led to reduced bank hours, suspended cultural events and halted public transport. U.S. sanctions have long impacted Cuba, but recent measures have intensified the situation.
Social media companies in court for addiction claims
The world’s biggest social media companies face several landmark trials this year that seek to hold them responsible for harms to children who use their platforms. Opening statements for the first, in Los Angeles County Superior Court, began on Monday.
Instagram parent company Meta and Google’s YouTube will face claims that their platforms deliberately addict and harm children. TikTok and Snap, which were originally named in the lawsuit, settled for undisclosed sums. This case marks the first time the companies will argue their case before a jury, and the outcome could have profound effects on their businesses and how they will handle children using their platforms.
US stocks drift higher as gold, bitcoin stabilize
U.S. stocks drifted higher following big rallies for markets in Asia earlier in the day. The S&P 500 rose 0.5% Monday and pulled closer to its all-time high set two weeks ago.
The Dow Jones Industrial Average edged up by less than 0.1%, and the Nasdaq composite gained 0.9%. Treasury yields held relatively steady ahead of potentially market-moving economic reports coming later in the week, including on the U.S. job market and inflation. Bitcoin hung just below $71,000 after drifting above the level during the weekend. Gold and silver prices rose. Japan’s Nikkei 225 soared 3.9% to a record.
Trump administration’s CFPB changes cost $19B
The Trump administration has significantly reduced the Consumer Financial Protection Bureau’s activities over the past year. Consumer advocates and Democrats now estimate this has cost Americans $19 billion in lost financial relief.
The administration argues the bureau had become too large. Since the administration took control in February, few new investigations have been opened, and several enforcement actions have been dropped. The White House’s attempt to cut staff was blocked by courts, but Congress has already halved the bureau’s budget. Critics say the bureau is now on “life support,” with key consumer protections abandoned.
Kroger names former Walmart exec as CEO
Kroger named former Walmart executive Greg Foran as its chief executive officer on Monday. Foran joins Kroger 11 months after its previous CEO Rodney McMullen abruptly resigned following an internal investigation into his personal conduct.
Foran led Walmart’s U.S. division for six years before departing in 2019. While there, he introduced online ordering and pickup and accelerated Walmart’s digital capabilities. Cincinnati, Ohio-based Kroger is the largest standalone U.S. supermarket chain. Walmart is one of its chief competitors, as consumers increasingly pick up their groceries along with other items at superstores. Walmart controls 21% of U.S. grocery sales, while Kroger controls 8.5%, according to market research company Numerator.
