AP Business
Business and economic news from the Associated Press.
Latest stories
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China's Alibaba unveils new powerful chip and ambitious AI model plans
HONG KONG (AP) — China’s Alibaba unveiled new artificial intelligence chip technologies and plans for more powerful models on Tuesday, including what it said was China's most powerful AI chip, days ahead of a meeting between Chinese and U.S. leaders at which competition to lead on AI technology i...
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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
WASHINGTON (AP) — State visits usually occur when two countries are on warm terms, but U.S. President Donald Trump is hosting Chinese leader Xi Jinping in Washington this week as their economic and tech competition is only escalating, especially through an artificial intelligence race.
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Asian benchmarks mostly rise after Wall Street's rally
Asian shares are mostly higher, as the market mood turned positive from the overnight rally on Wall Street. Benchmarks rose in early Tuesday trading in Sydney, Seoul, Hong Kong and Shanghai. Tokyo trading was closed for so-called Silver Week, which adds an extra national holiday to bridge two hol...
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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.
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Republicans target Las Vegas congressional district with help from Trump's 'no tax on tips' policy
LAS VEGAS (AP) — Susan Gonzalez plans to pay off her credit card now that she no longer needs to pay taxes on the dollar bills that she stashes away at the end of long shifts pouring beers and mixing cocktails in a smoky sports bar.
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Google hit with $463 million fine for EU location data rule breach
Google has been fined 403 million euros ($463 million) for breaching the European Union's strict privacy rules because it mishandled users' location data, the bloc's data privacy watchdog said Monday.
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Iran's Revolutionary Guard warns US over escalation, and other Mideast developments
Iran's Revolutionary Guard warned Monday that it would “change the geography of the war” if the United States escalates the conflict.
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News outlets sue Trump over lost White House access, citing 'blatant violation' of First Amendment
CNN, MS NOW and Politico have filed a lawsuit over being denied White House access. The lawsuit calls the administration's actions barring reporters from the three news organizations a “blatant violation” of the First Amendment. Trump said last week he was barring them because of reporting he dee...
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German leader faces tough time ahead after election defeats, but no sign of leadership challenge
German Chancellor Friedrich Merz is standing by his vow to stay in office after his party suffered two more regional election defeats and was voted out of a state legislature in a humiliating first. But he faces a struggle to keep his reform agenda intact. Minutes after polls closed on Sunday, th...
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Wall Street rallies within 0.4% of its record after oil prices and bond yields ease
Wall Street climbed to the edge of its all-time high, and stocks rallied worldwide after oil prices and yields in the bond market surrendered their market-rattling gains from last week. The S&P 500 jumped 1.5% Monday and pulled within 0.4% of its record. The Dow Jones Industrial Average added 0.7...
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As Russian strikes destroy millions of books, Ukraine's literary future hangs in the balance
KYIV, Ukraine (AP) — Seconds before the Russian drone struck, Viktor Kruglov was thinking about textbooks — tens of thousands of them, and how to get them to Ukrainian schools faster.
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China and the US are competing for AI dominance but have shared concerns over safety
U.S. President Donald Trump and Chinese leader Xi Jinping are expected to meet this week to discuss artificial intelligence. The meeting comes amid rising concerns about AI's potential threats and the competitive tension between the two countries. On Sunday, U.S. Treasury Secretary Scott Bessent ...
