AP Business
Business and economic news from the Associated Press.
Latest stories
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California farmers are struggling to sell grapes as demand for wine drops
It’s harvest time in California wine country, but many growers are struggling to sell their grapes as Americans cut back on drinking. Farmers are tearing out their vineyards, selling their land or planting other crops as they lose faith in the wine business. Bill Berryhill can’t find buyers for g...
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China expands export control on drug precursors ahead of Trump-Xi meeting
BEIJING (AP) — China said Tuesday that it is now requiring permits for exports to the United States, Mexico and Canada of two additional chemicals that can be used to make illegal drugs, expanding controls on shipments to the three countries.
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GOP Sen. John Curtis calls for probe of Trump Jr. after wedding party bankrolled by Russian oligarch
WASHINGTON (AP) — Republican Sen. John Curtis of Utah is calling on the Senate Judiciary Committee to investigate whether Donald Trump Jr. used his proximity to the presidency for financial benefit, after his recent wedding party was partially bankrolled by a Russian oligarch.
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New York airport operations resume after disruptions across US Northeast due to technical problems
Flights are taking off and landing at New York City-area airports with some delays and cancellations after technicians repaired data lines that failed at a key regional air traffic control center in Philadelphia. That failure caused hours of flight disruptions and cancellations throughout the Nor...
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5 things you need to know about required minimum distributions this year
Required minimum distributions are unwelcome for many high-income retirees because of the implications for their tax bills. RMDs are taxed as ordinary income and can have knock-on tax effects, leading to more tax on Social Security benefits and higher Medicare costs.
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What to know about hospital deals with the Trump administration to avoid treating transgender minors
At least six major hospitals have agreed to refuse gender-affirming hormones and surgery for transgender young people and agreed to make payments to the federal government, according to deals with the Department of Justice.
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Russia and Ukraine trade deadly strikes as Zelenskyy prepares to meet Trump
Officials say Russia has bombarded at least four Ukrainian regions with missiles and drones in that attacks that have killed five people. Ukraine's special forces meanwhile said Tuesday that they have damaged another Russian oil refinery in a long-range strike. This ongoing exchange of aerial att...
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The EU moves closer to free trade deal with Philippines amid global tensions
The European Union and the Philippines have reached substantial agreement on a new free trade deal. European Commission President Ursula von der Leyen announced the preliminary agreement Tuesday, with further negotiations needed for a full deal. EU trade negotiator Maroš Šefčovič and Philippine T...
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China's Alibaba unveils new powerful chip and ambitious AI model plans
China's Alibaba has unveiled new plans for its AI model and new chip technologies, including what it claims is China's most powerful AI chip. This launch comes as U.S. AI leaders call for a slowdown in AI development over safety concerns. On Tuesday, at its annual conference in Hangzhou, Alibaba ...
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Worsening El Nino threatens Asia with drought, potentially raising food prices globally
BANTEN, Indonesia (AP) — All signs are pointing toward a record-breaking El Nino this year, which experts say may cause severe drought in Asia and other extreme weather across the world, threatening food security for millions of people.
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Trump and Xi see tensions flare over AI, trade and Iran but still seek stability
U.S. President Donald Trump is hosting Chinese leader Xi Jinping in Washington this week as economic and tech competition escalates between the two countries. Both leaders are aiming to stabilize fragile ties, though no major agreements are expected. The meeting itself is seen as significant give...
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Wall Street ticks to the edge of its record as Brent oil falls toward $98 per barrel
Wall Street is ticking closer to its record high after the price of Brent oil fell back below $100 per barrel. The S&P 500 rose 0.2% Tuesday and pulled within 0.2% of its all-time high set last month. The Dow Jones Industrial Average gained 124 points, and the Nasdaq composite added 0.4% to its o...
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Fulfilling earlier US-China agreements is a work in progress as Trump and Xi meet again
BEIJING (AP) — The U.S. and China have made uneven progress in fulfilling the trade commitments announced after their two leaders met in Beijing in May.
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South Korea's Lee tells AP he wants step-by-step approach to North Korea's nuclear dismantlement
SEOUL, South Korea (AP) — With North Korea refusing dialogue and ramping up its provocative missile tests, South Korea's liberal President Lee Jae Myung is pushing for a step-by-step effort to end a decades-long standoff over the North's nuclear program.
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Judge won't block Trump administration from giving SpaceX acres of wildlife refuge in land swap
McALLEN, Texas (AP) — A federal judge on Monday refused to block the Trump administration from giving SpaceX more than 700 acres (280 hectares) of wildlife refuge as part of a land swap in Texas, while environmental groups vowed to continue their legal challenge.
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What to know about Paramount's settlement and its impact on movies
NEW YORK (AP) — Movie studio Paramount on Monday agreed to settle an antitrust lawsuit filed by 12 states, the last big obstacle blocking the company's $81 billion acquisition of Warner Bros. Discovery in a deal that would transform the movie industry landscape.
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What is the White House pool? These days, it's a battleground between Trump and free press rights
The White House press pool, a rotating cast of news outlets that covers the president, is now a battleground over free speech rights between President Donald Trump and the media.
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Flights disrupted across the US Northeast due to technical problems at a key air traffic center
Technicians have repaired data lines that failed at a key regional air traffic control center, and all major airports in the New York area began resuming operations after hundreds of flight cancellations rippled through the Northeast. Transportation Secretary Sean Duffy said in an online post tha...
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Operator of 314 Wendy's locations in the US files for bankruptcy protection
One of the largest U.S. franchisees for Wendy's has filed for bankruptcy protection after the restaurant chain tried to terminate its franchise agreement.
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States settle lawsuit over Paramount-Warner merger, clearing key hurdle for $81 billion deal
Twelve states and Hollywood writers challenging Paramount’s buyout of Warner Bros. Discovery have agreed to settle their lawsuits against the mega merger. Monday's announcement effectively paves the way for the $81 billion deal to cross the finish line, with some new commitments. The blockbuster ...
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Gates Foundation launches coalition to build more representative language data sets for AI
NEW YORK (AP) — The Gates Foundation is convening Anthropic, Google, OpenAI Foundation and dozens of other organizations to help make artificial intelligence more accessible in underrepresented languages.
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Federal Reserve official says Iran war pushed her toward supporting rate hike
WASHINGTON (AP) — A top Federal Reserve official said Monday that the renewal of combat in the Middle East in August was a key reason she supported raising borrowing costs last week, when she also penciled in a second rate hike for later this year.
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Second technical issue in 2 weeks afflicts UK's air traffic controller, prompting more travel chaos
LONDON (AP) — A technical issue afflicted the U.K.'s national air traffic controller on Monday, the second in two weeks, prompting more travel disruption and renewed calls for the organization's chief to quit.
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There's an easy way to get rid of all the reusable bags piling up in your home
NEW YORK (AP) — When professional home organizer Britnee Tanner visits her clients, she often spots extra reusable bags buried under the kitchen sink or stuffed in a corner of the pantry.
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Climate Week talks balance hope for clean energy against uncertainty over artificial intelligence
NEW YORK (AP) — As scientists calculated that Earth is getting sicker, global leaders on Monday kicked off a week of talks about how to fix it and fast, pointing to hope from a renewable energy boom.
