AP Business
Business and economic news from the Associated Press.
Latest stories
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Armani taps Dario Vitale for its Emporio and accessories lines a year after death of Giorgio Armani
ROME (AP) — The Armani fashion group on Wednesday named Dario Vitale creative director of Emporio Armani and Giorgio Armani Accessories, a first step in the group's creative reorganization a year after the death of founder Giorgio Armani.
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Honda HR-V vs Kia Seltos, a budget SUV Edmunds comparison
Crossovers have become a popular choice for buyers who want the practicality of an SUV without the size and expense of a larger vehicle. For many shoppers, that means finding a vehicle that’s easy to live with, offers enough room for everyday duties, keeps fuel costs in check, and provides the ve...
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UK inflation rises to 5-month high, further pressuring Bank of England to raise rates this year
LONDON (AP) — Inflation in the United Kingdom rose to a five-month high as the aftershocks of the Iran war continued to ratchet up fuel prices, official figures showed Wednesday, an increase that will pressure the Bank of England to hike interest rates again over coming months.
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EU chief proposes bloc-wide social media ban for kids under 13
European Commission President Ursula von der Leyen has proposed banning children under 13 from accessing social media, online games and chatbots. “I am aware that many perceive the power of Big Tech as overwhelming and impossible to roll back. I disagree,” said the EU executive on Wednesday durin...
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Saudi Arabia calls attempted attack on Mecca a 'red line' as Iran-backed Houthis deny they did it
Muslim nations are condemning an attempted drone attack on Mecca as Saudi Arabia says that Islam's holiest city is a “red line” for the kingdom. The Iran-backed Houthi rebels in neighboring Yemen have been attacking Saudi Arabia and its shipping but deny targeting Mecca. Saudi Arabia, the world’s...
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Philippine lawmaker pleads not guilty to taking kickbacks in flood control projects
MANILA, Philippines (AP) — A Philippine lawmaker and former speaker of the House of Representatives pleaded not guilty Wednesday to charges alleging he pocketed millions of dollars in kickbacks from flood control projects, his lawyer said.
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Hong Kong unveils its first 5-year plan that broadens the city's identity beyond finance
HONG KONG (AP) — Hong Kong's leader on Wednesday unveiled the city's first five-year plan in a politically symbolic step that echoes Beijing's approach to development, pushing to broaden Hong Kong's identity beyond international finance to also encompass technology and higher education.
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Building collapse in Gaza kills at least 19 people, and other Mideast developments
A building housing displaced Palestinian families has collapsed in Gaza City, killing at least 19 people, most of them women and children. The structure was heavily damaged during the Israel-Hamas war and there had been warnings about its safety. Dozens of people remain missing or trapped under t...
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Former Muslim rebels lead results in first election held in southern Philippine region
MANILA, Philippines (AP) — Candidates from two rival parties associated with a former rebel group led the first elections in a predominately Muslim region in the southern Philippines, official results showed Wednesday.
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Egypt's wind power push, tied to manufacturing, offers lessons for Nigeria and Africa
NAIROBI, Kenya (AP) — Egypt is betting that building wind turbines at home can help it build a renewable-energy industry, positioning it as a template for Africa’s push for renewable-energy industrialization.
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US futures climb ahead of Fed interest rate call and the latest retail sales numbers
U.S. futures are rising as investors await the Federal Reserve’s decision on interest rates, with high expectations of a hike. The potential hike will be the first in three years as inflation remains elevated in the United States and above the Fed’s target. Futures for the S&P 500 gained 0.2% on ...
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AI rivals found rare agreement on safety. Putting it into practice is harder
The leading AI industry voices rarely agree — so when they do, it’s no wonder it captures attention.
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Staffing problems stall federal investigations of missing and killed Native people
SIOUX FALLS, S.D. (AP) — Peter Martin went missing two years ago from the Fond Du Lac reservation in Minnesota. His family hasn't stopped looking, but they say the U.S. Bureau of Indian Affairs investigation into Martin's disappearance has stalled since the agent assigned to the case left the rol...
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Warsh likely to side with financial markets over Trump as Fed rate hike expected
WASHINGTON (AP) — Barely four months into the job, Federal Reserve Chair Kevin Warsh is stuck between two strong and opposing forces: Financial markets that anticipate the central bank will raise interest rates, and President Donald Trump, who wants the Fed to cut them or leave them unchanged.
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US-Canada trade war further taxes small businesses as costs rise during the Iran war
NEW YORK (AP) — A trade war between the United States and Canada is making it more difficult and expensive for small businesses in the economically entwined countries to operate, according to business owners caught in the crossfire.
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Japan records a trade deficit for 4th month as oil imports soar
TOKYO (AP) — Japan’s trade deficit totaled 1.1 trillion yen ($7 billion) last month as surging oil prices due to the conflicts in the Middle East sent the cost of imports soaring.
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Photographer Chick Harrity, who documented history for AP from Vietnam to the White House, has died
NEW YORK (AP) — Photographer Chick Harrity, who documented the Vietnam War and eight sitting U.S. presidents for The Associated Press and U.S. News and World Report, has died. He was 87.
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Families of the 67 who died in the DC midair collision want reforms to prevent the next tragedy
The loved ones of the 67 people killed in last year's collision between an airliner and Army helicopter over Washington, D.C., have a message for Congress and regulators. They want more action now to ensure other families won’t be left clutching memories instead of each other. Several of the vict...
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Saudi crown prince seeks Egypt’s backing as Houthi attacks rattle Red Sea oil routes
CAIRO (AP) — Saudi Arabia’s crown prince sought backing Tuesday from the president of Egypt, his ally across the Red Sea, as the kingdom faces increased attacks by Yemen’s Houthi rebels on Saudi shipping and infrastructure that have helped drive a surge in global oil prices.
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American incomes finally top pre-pandemic levels, fighting against inflation all the way
U.S. household income finally topped pre-pandemic levels last year, a stark sign of how the past five years of rising prices have limited Americans’ earnings and purchasing power. The figures show that even after taking into account higher prices, the typical household is now earning more than it...
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Senate blocks cryptocurrency regulation as Democrats push back on Trump investments
Senate Democrats have blocked legislation to create a new regulatory framework for cryptocurrency. In doing so, they are stalling an industry-backed effort to place new guardrails around digital assets after demanding more limits on President Donald Trump’s investments. Tuesday's vote was a pivot...
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Belarus' authoritarian leader meets US envoy to push for lifting sanctions
TALLINN, Estonia (AP) — Belarus’ authoritarian President Alexander Lukashenko met with a U.S. envoy on Tuesday to push for the lifting of the remaining U.S. sanctions against his country.
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China can block citizens from leaving the country over national security or tech export violations
BEIJING (AP) — New border control rules taking effect in China on Tuesday could ban citizens from leaving the country if they engage in illegal activity that endangers national or industrial security.
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As the world debates the risks of AI, China closes the technology gap with the US
HONG KONG (AP) — As the rapid development of artificial intelligence triggers a renewed debate about its risks, the United States and China keep racing to develop increasingly powerful models.
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Why I object to 'hitting a number' for retirement
When someone says they’re retiring because they “hit their number,” my alarm bells go off because it’s often a signal that the retirement plan isn’t as holistic or risk-conscious as it should be.
