AP Business
Business and economic news from the Associated Press.
Latest stories
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Trump says he plans to remove a 15% tariff on Irish whiskey
President Donald Trump says he plans to remove a 15% tariff on Irish whiskey. Trump said Sunday during the trophy ceremony for the Irish Open that he'd been asked about the issue by everyone, including some of the golfers. He said, “Everybody’s been bugging me” to do it. “And I said, ‘On behalf o...
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Trump downplays the need to check AI development and says he doesn't want to cede edge to China
President Donald Trump is playing down the need for his administration to check the development of artificial intelligence. He says he's worried about ceding America’s edge over China in a global competition and that winning will help would address the risks from the advancing technology. He told...
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Somalis rethink trade routes as Houthis disrupt established shipping channels
MOGADISHU, Somalia (AP) — Somalia's business community is seeking alternative shipping routes due to disruptions and security concerns around the Bab al-Mandab Strait and the Strait of Hormuz after Iran-backed Houthis captured a key port city and an island, sending thousands of Yemenis fleeing to...
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Beijing bans drone possession in the city after earlier moves to tighten rules
BEIJING (AP) — Beijing is banning the possession of drones within city limits in new rules announced Sunday that further tighten its regulations on drones, which already include a May ban on sales of the devices. The ban on possession will come into effect in mid-November.
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At BRICS, India's Modi warns geopolitical tensions and supply chain shocks threaten global stability
Indian Prime Minister Narendra Modi has warned that rising geopolitical tensions, supply chain disruptions and climate crises are affecting people worldwide. Speaking at the BRICS summit in New Delhi on Sunday, Modi called for strengthened cooperation across the Global South. He warned that the "...
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Iranian cargo ship is struck, and talks between Tehran and its neighbors are postponed
State-run media in Iran say an Iranian commercial vessel has been struck off Qeshm Island in the Strait of Hormuz, with one person killed and four wounded. There was no immediate statement from the U.S. military, which has previously struck Iranian-flagged vessels as part of its blockade of Irani...
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Benin bets on turning its cotton crop into clothes at home
PARAKOU, Benin (AP) — The “Made in Benin” tags on Fatoumata Dosso’s fabrics represent an ambition much bigger than her fashion business: keeping more of the value of Africa’s largest cotton producer at home.
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Federal judge rules Trump DHS plan for 50% FEMA staffing cuts was unlawful
WASHINGTON (AP) — A federal judge has ruled that a plan by the Trump administration to slash staffing at the federal agency tasked with responding to disasters by 50% was unlawful.
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President Donald Trump’s childhood home sells for $2 million
NEW YORK (AP) — Donald Trump's childhood home has sold for nearly $2 million after a renovation transformed the New York City residence from a mold-ridden cat den to a modern abode.
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Anthropic CEO Dario Amodei says AI industry needs to give safety measures time to catch up
NEW YORK (AP) — The CEO of Anthropic said Saturday the artificial-intelligence industry should slow its fast-moving development to give safety measures time to catch up. Without such a slowdown, Dario Amodei warned that within six to 12 months AI could be capable of leading a swarm of agents tha...
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America In Focus: inflation accelerated in August, home sales weaken and diesel prices soar
The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store and gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses.
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Crypto billionaires give $97 million to Reform UK, fueling concerns about money in politics
LONDON (AP) — Reform UK, the anti-immigration party led by Brexit campaigner Nigel Farage, received 72 million pounds ($97 million) from two cryptocurrency billionaires this weekend, fueling concerns about money in British politics.
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Why Canada? America's northern neighbor seems an unlikely target for a trade war
WASHINGTON (AP) — Canada might seem an unlikely target for a U.S. trade war.
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Wall Street week ahead: Federal Reserve decision on interest rates, retail sales update
NEW YORK (AP) — The Federal Reserve and its interest rate policy will be the main focus for Wall Street this week.
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Iraq says Saudi pipeline attack originated from its territory, and other Mideast news
Iraq said attacks on a key Saudi oil pipeline were launched from its territory, as U.S. President Donald Trump appeared to blame Iran.
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Saudi Arabia has few options as it faces mounting threats from Iran and its allies
Houthi rebels in Yemen are advancing toward a crucial trade chokepoint. Attacks blamed on Iraqi militias forced the closure of a major pipeline. Iran and its allies are unleashing a nightmare scenario for Saudi Arabia and unsettling global markets. Control over the Bab el-Mandeb Strait could allo...
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BRICS leaders voice concern over Middle East, condemn unilateral sanctions at India summit
Leaders of the BRICS nations have expressed concern over rising tensions in the Middle East and condemned sanctions not authorized by the U.N. The leaders met in New Delhi on Saturday to strengthen their global position. In a statement indirectly criticizing U.S. and Israeli strikes on Iran, they...
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For the US news industry, a tough summer draws to a close with McClatchy chain's cuts
The McClatchy newspaper chain has made significant layoffs at The Miami Herald and other papers, cutting over 90 unionized journalists across 17 publications. This accounts for about 30 percent of McClatchy's unionized workforce. The Miami Herald lost 32 jobs, including the entire writing staff o...
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Former Canadian leader Jean Chrétien tells US: ‘Never mistake our generosity for weakness'
GANDER, Newfoundland (AP) — Standing in the town that sheltered thousands of stranded Americans after the Sept. 11 attacks, former Canadian Prime Minister Jean Chrétien marked the 25th anniversary Friday with a pointed message for the United States: “Never mistake our generosity for weakness.”
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At the Venice Film Festival, grappling with the state of the world and crying with Oasis
VENICE, Italy (AP) — The Venice Film Festival was lighter on blockbuster Hollywood fare this year, but that might have been a good thing in the end: There were more important things to talk about.
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The Houthi advance in Yemen raises concerns about a key shipping choke point
Iran-backed Houthi rebels have captured the Red Sea port of Mokha and the strategic island of Mayun in Yemen. This move brings their forces to the heart of the Bab el-Mandeb Strait, a critical global trade route. The strait is vital for Saudi oil shipments to Asia, especially after Iran restricte...
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Federal court rejects Trump order keeping Michigan coal plant open
WASHINGTON (AP) — In a defeat for the Trump administration, a federal court on Friday ruled that the Energy Department exceeded its authority when it forced a Michigan coal-fired power plant to stay open past its scheduled retirement date last year.
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Diesel prices are hitting record highs at a bad time for many US farmers
The price of diesel is hitting record highs just as many U.S. farmers are harvesting two of the nation’s largest commodities, soybeans and corn. That means they'll need countless gallons of the fuel for combines, tractors and trucks. Diesel hit a record price in the U.S. last week, soaring to an ...
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FACT FOCUS: A look at false and misleading claims during the Republican midterm convention
President Donald Trump, Vice President JD Vance and other Republican officials came together for a two-day convention this week to rally voters in advance of midterm elections in November. But in celebrating their accomplishments, they made several false and misleading claims, many of which have ...
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US officials declare an end to record-setting cyclospora outbreak, but its origin is still unknown
NEW YORK (AP) — The largest cyclospora food poisoning outbreak in U.S. history is over, U.S. health officials said Friday.
