AP Business
Business and economic news from the Associated Press.
Latest stories
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Muslim region in southern Philippines holds first elections
MANILA, Philippines (AP) — A predominantly Muslim region in the southern Philippines held its first elections for a regional parliament Monday and Tuesday following years of delays, moving it closer to self-rule after decades of insurgency and violence.
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Carney heads to Europe for high-stakes speech and deeper EU ties as Canada clashes with Trump
TORONTO (AP) — Canadian Prime Minister Mark Carney is heading to Europe in the middle of a trade war with U.S. President Donald Trump, seeking a deeper relationship with the European Union that could give Canadians greater freedom to work and study there.
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Federal Reserve is expected to raise its benchmark rate, defying Trump's demands
WASHINGTON (AP) — The Federal Reserve is widely expected to lift its short-term interest rate Wednesday for the first time in three years to fight stubbornly high inflation, a move that would put the central bank at odds with President Donald Trump's support for a cut.
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Microsoft commits to sweeping AI privacy rules for students. Will other tech giants follow?
Millions of students every day turn to AI chatbots for help with schoolwork, emotional support and personal advice — often unaware of where their conversations and other personal information end up.
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Gates Foundation warns AI could widen inequality as foundation pledges $1B to expand access
NEW YORK (AP) — Bill Gates is warning technology companies and world leaders that they must act now to ensure artificial intelligence combats social inequities rather than deepening disparities — and his foundation is pledging $1 billion to improve access.
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Tech CEOs call for AI regulation. Trump and Congress are not rushing to act
WASHINGTON (AP) — The technology industry's increasingly urgent warnings about the potential harm of artificial intelligence are slamming into political intransigence in Washington, offering a fresh test of the federal government's willingness and ability to confront what may become a defining is...
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Asian shares trade mixed as markets continue to watch AI stocks and oil prices
Asian shares are trading mixed after artificial-intelligence stocks slid overnight. Benchmarks rose in early Tuesday trading in Tokyo and Shanghai, but fell in Sydney and Hong Kong, while being little changed in Seoul. The markets are closely watching AI stocks after leaders of the industry warne...
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Energy giants seeking to merge say they'll extend Virginia residents' bill credits and add jobs
Power giants NextEra Energy and Dominion Energy are rolling out plans to sweeten their proposed merger in Virginia, Dominion’s home base. Florida-based NextEra announced earlier this year that it wants to acquire Dominion to create what the companies say would be the world’s biggest regulated ele...
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What the closure of Saudi Arabia's East-West pipeline could mean for oil flows
CHICAGO (AP) — Saudi Arabia's closure of a major oil pipeline after a recent attack is raising fears that global energy markets in crisis because of the war with Iran could face even starker shortages, pushing prices higher for fuel and other essentials.
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Serbia's protesting youth formally join race challenging Vucic before next month's election
BELGRADE, Serbia (AP) — University students behind nearly two years of anti-government protests in Serbia on Monday formally entered the election race before an early parliamentary vote, challenging populist President Aleksandar Vucic.
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Abbott agrees to settlement over closure of largest baby formula plant in the US
Abbott Laboratories will pay $385 million to resolve claims tied to an investigation of contamination at a baby formula factory in Sturgis, Michigan, the largest in the country, which led to the supply shortages in 2022.
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Supreme Court to decide whether to hear Maine lobsterman’s challenge to GPS boat tracker requirement
PORTLAND, Maine (AP) — The Supreme Court will decide later this month whether to hear a lobster fisherman’s challenge to a government requirement that boats use electronic tracking devices. That case could have broad consequences for the American commercial fishing industry.
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Costco raises price for Kirkland motor oil, sets purchase limit
Costco has raised the price of motor oil sold under its exclusive private-label brand as well as limited how much of it customers can buy weekly as oil prices climb yet again.
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Officials say 4 people were hospitalized after a crane collapsed at a Miami construction site
MIAMI (AP) — An 85-foot (26-meter) crane towering over a construction site in an upscale Miami neighborhood toppled onto a passing vehicle Monday morning, setting it on fire and injuring the driver and three construction workers, officials said.
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Trump calls AI risks a 'hoax,' says there is a 'SICK conspiracy' against AI and data centers
President Donald Trump says he is a sufficient guardrail against rogue artificial intelligence, claiming that any efforts to limit the technology are part of a “SICK conspiracy.” The president specifically said on social media on Monday that the administration has already stopped the AI company A...
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Japanese utility execs resign over falsified quake safety data for 2 nuclear reactors
TOKYO (AP) — The president of Chubu Electric Power Co., Japan's third-largest utility, said Monday that he and the chairperson are resigning to take responsibility over the company's yearslong manipulation of earthquake safety data for two nuclear reactors and that the operator will withdraw appl...
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EPA eliminates rule that limits planet-warming greenhouse gas emissions from power plants
WASHINGTON (AP) — The Environmental Protection Agency said Monday it is repealing rules that limit planet-warming greenhouse gas emissions from power plants fueled by coal and natural gas and announced it is taking a separate but related step to prevent future administrations from regulating clim...
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The great American road trip, fueled by — and undercut by — the automobile that created it
NASHVILLE, Tenn. (AP) — There's something about the American road trip.
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Oprah Winfrey wants you to reach your ‘AHA’ moment at the Sphere
NEW YORK (AP) — Oprah Winfrey stood alone at the Sphere, attempting to comprehend what she had witnessed after U2’s opening night performance in 2023. Mesmerized by the multisensory event, the Queen of All Media had a thought: Could she use the groundbreaking, 4D capabilities of the globe-shaped ...
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PHOTO ESSAY: Border wall cuts through wildlife refuge
ALAMO, Texas (AP) — A segment of border wall erected in late July stands incomplete along the edge of a wildlife refuge in Alamo, Texas, after a lawsuit halted work.
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Houthis seize 2 strategic Red Sea islands, and other Mideast developments
Yemen's Houthi rebels have seized the strategic islands of Greater and Lesser Hanish in the southern Red Sea. This move strengthens their control over a key maritime shipping route. Houthi officials announced the takeover Monday amid Saudi-backed government forces' attempts to reclaim territory. ...
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Prosecutors charge German-Ukrainian woman with aiding Russian intelligence
BERLIN (AP) — Germany's federal prosecutor's office said Monday it had filed charges against a German-Ukrainian woman suspected of acting on behalf of Russian intelligence.
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European leaders meet as Arctic thaw opens shipping routes and Russian buildup stokes security fears
ROVANIEMI, Finland (AP) — European leaders joined forces Monday to highlight growing competition in the Arctic, where global warming is opening new shipping routes, governments are vying for vast natural resources and a Russian military buildup is heightening security concerns.
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Africa's biggest oil refinery opens to public ownership, sparking excitement among retail investors
LAGOS, Nigeria (AP) — Nigerian industrialist Aliko Dangote opened his refinery to public ownership Monday with plans to raise $1.6 billion from retail investors across the continent in Africa’s biggest initial public offering, or IPO.
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Saudi pipeline hit by drones will be out of service for weeks, further restricting oil flow
A crucial Saudi oil pipeline that was struck in an attack will mostly be out of service for weeks as the damage is repaired. That's according to two regional officials. The East-West Pipeline, which runs across the kingdom, is key to Saudi Arabia’s strategy of shifting its oil exports to the Red ...
