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  1. Kuwait’s interior ministry said a group of armed Iranians arrived at Bubiyan Island in the Persian Gulf on May 1 aboard a rented fishing boat and exchanged fire with Kuwaiti soldiers.
  2. The food giant Calbee said shortages of naphtha, a crude-oil derivative used in inks, were forcing it to switch to black-and-white packaging for its salty products.
  3. The Consumer Price Index rose 3.8% in April from a year earlier as higher energy costs replaced tariffs as the driver of higher prices for Americans.
  4. Beijing has called Taiwan the “core of China’s core interests.” Xi Jinping is likely to focus on getting President Trump to slow approval of more weapons for the self-governing island.
  5. The latest artificial intelligence models from Anthropic and OpenAI are extending the United States’ lead over China and intensifying the rivalry between the countries.