Iran plan to toll Strait of Hormuz violates norms

To end the war with the United States and Israel, Iran is demanding the right to collect tolls in the Strait of Hormuz as a precondition for reopening the waterway vital to world oil supplies.

Yet collecting tolls in the strait would violate a basic and enduring principle of international maritime trade: freedom of peaceful navigation. Opening the strait would save the global economy from supply constraints that have pushed energy and fertilizer prices sharply higher since the war began on

Feb. 28. But agreeing to Iranian toll-collecting would cement the Islamic Republic’s control over the strait through which 20% of the world’s oil is shipped — and enrich the military against whom the war was launched.

Paramount president Shell stepping down

Longtime media executive Jeff Shell is leaving Paramount. The move arrives amid a messy legal battle and the Skydance-owned company’s ongoing efforts to take over Hollywood rival Warner Bros. Discovery.

Paramount confirmed Wednesday that Shell decided to “transition” from his role as president and board member. The board reviewed allegations from a lawsuit claiming Shell violated securities disclosure rules but found no evidence. Last month, Shell was sued for fraud by R.J. Cipriani, who claimed he provided Shell 18 months of crisis communications services without compensation.

Southwest raises bag fees as fuel costs soar

Southwest Airlines said Wednesday it is raising its checked baggage fees by $10 less than a year after ending its famous “bags fly free” policy.

Starting on Thursday, one checked bag will cost $45 and the second $55. Some travelers, including loyalty members, military personnel and the airline’s credit card holders can still check a first bag for free. The move comes as jet fuel prices have spiked amid the war in the Middle East, which has disrupted global oil supplies near the Strait of Hormuz. Delta,

United and JetBlue have also increased baggage fees. Analysts say U.S. airlines may rely more on add-on fees to offset higher fuel costs compared with non-U.S. carriers, which have fuel surcharges.

Polymarket accounts bet big on US-Iran ceasefire

A group of new accounts on the prediction market Polymarket made highly specific, well-timed bets on whether the U.S. and Iran would reach a ceasefire on April 7, resulting in hundreds of thousands of dollars in profits for those users.

These bets were made even as President Donald Trump’s threats of devastating attacks on Iran appeared to make an imminent deal unlikely. Analysis of blockchain data shows at least

50 wallets placed substantial “Yes” bets before Trump announced a two-week ceasefire on social media. Polymarket labeled the ceasefire betting event as “disputed” due to ongoing tensions, which means some payouts are on hold.