AP Business
Business and economic news from the Associated Press.
Latest stories
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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.
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Saudi crown prince goes to Egypt for support against Houthi strikes, and other Mideast developments
Saudi Arabia’s crown prince is reaching out to Egypt for support against Yemen’s Houthi rebels who have disrupted key avenues of commerce, contributing to a spike in the global cost of oil. Egypt is unlikely to offer military help to Saudi Arabia but the country is influential in the Arab world a...
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NATO jets shoot down drone over Lithuania and Russian ship fires flares at Danish helicopter
NATO says its fighter jets have shot down a drone that entered Lithuanian airspace. NATO officials announced the incident Tuesday, the day after the head of the alliance said strikes close to its territory would only increase its support for Ukraine in the war against Russia’s full-scale invasion...
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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
The Federal Reserve is widely expected to lift its short-term interest rate for the first time in three years to fight stubbornly high inflation. Such a move Wednesday would put the central bank at odds with President Donald Trump’s demands. An increase in the Fed’s rate, currently about 3.6%, is...
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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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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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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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US stocks slip after oil prices and the bond market crank up the pressure
The U.S. stock market slipped as oil prices and the bond market cranked up the pressure on Wall Street. The S&P 500 fell 0.4% Tuesday. The Dow Jones Industrial Average dropped 0.6%, and the Nasdaq composite sank 0.8%. They felt pressure as the yield on the 10-year Treasury climbed with oil prices...
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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.
