AP Business Digest
Here are the AP's top business stories that have moved or are planned to move today. All times U.S. Eastern. For up-to-the minute information on AP's coverage, visit AP Newsroom's Coverage Plan.
--------------------
NEW AND DEVELOPING
--------------------
FINANCIAL MARKETS
Stocks are wavering on Wall Street and holding on to gains they made earlier in the week
SUMMARY: Stocks are wavering on Wall Street and holding on to gains they made earlier in the week after the U.S. and China declared a temporary cease-fire in their trade war. The S&P 500 bobbed between small gains and losses and was little changed after the first hour of trading Wednesday. The index erased the remainder of its losses for 2025 a day earlier. The Dow Jones Industrial Average edged up 52 points, or 0.1%, and the Nasdaq composite was up 0.3%. American Eagle Outfitters slumped about 7% after becoming the latest company to pull its financial forecasts.
WORDS: 592 - MOVED: 05/14/2025 10:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ba100e59edebd7b302577ce3b076824f&mediaType=text
___
US--EPA-PFAS-DRINKING-WATER
EPA announces rollback for some Biden-era limits on so-called forever chemicals in drinking water
SUMMARY: The Environmental Protection Agency says it will roll back limits on several types of so-called forever chemicals in drinking water. The agency, however, will keep limits on the two most common types, called PFOA and PFOS, although it will offer a two-year deadline extension for utilities to comply. They now have until 2031. The agency says the changes will help protect Americans while giving water systems common sense flexibility. Environmental groups say the development shows the agency is abandoning common sense clean water rules.
WORDS: 757 - MOVED: 05/14/2025 10:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4eaf8c7bdac7c45a295a2305de906012&mediaType=text
___
TRUMP-AI-EXPORT RULES
Trump administration rescinds curbs on AI chip exports to foreign markets
SUMMARY: Responding to complaints from the tech industry and other countries, the U.S. Department of Commerce has rescinded a Biden-era rule due to take effect Thursday that placed limits on the number of artificial intelligence chips that could be exported to certain international markets without federal approval. The Biden rule's division of more than 100 affected countries into different tiers of export restrictions drew strong opposition from those countries, as well as U.S. chipmakers like Nvidia and Advanced Micro Devices that argued the restrictions could actually push some countries to turn to China instead of the U.S. for their AI technology.
WORDS: 395 - MOVED: 05/14/2025 10:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bb05a9760abb8a320a447f58599e2ab6&mediaType=text
___
AF--NIGER-ORANO
A French mining company sues Niger after its director disappears and offices are raided.
WORDS: 310 - MOVED: 05/14/2025 9:59 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f42de7d8240af270a939c5f15df9d161&mediaType=text
___
US--NEW JERSEY TRANSIT-WHAT TO KNOW
New Jersey Transit, commuters bracing for potential train engineers strike
SUMMARY: Some 350,000 commuters could soon be scrambling for other ways to reach their destinations if New Jersey Transit engineers walk off the job early Friday. The nation's third largest transit system operates buses and rail in the New Jersey, providing nearly 1 million weekday trips, including into New York City. If the walkout occurs, all NJ Transit commuter trains will stop running. Wages and working conditions have been the main sticking points of the negotiations between the agency and the Brotherhood of Locomotive Engineers and Trainmen.
WORDS: 706 - MOVED: 05/14/2025 9:58 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a9807962e1e8e05ed823996fb3ebf962&mediaType=text
___
ML--TRUMP-SYRIA
Trump meets with Syria's interim president, a first between the nations' leaders in 25 years
SUMMARY: President Donald Trump has met with Syria's interim President Ahmad al-Sharaa, the first such encounter between the two nations' leaders in 25 years. The meeting took place Wednesday on the sidelines of Trump's get-together with the leaders of the Gulf Cooperation Council. It marks a major turn of events for a Syria still adjusting to life after the over 50-year, iron-gripped rule of the Assad family. It's remarkable given al-Sharaa, under the nom de guerre Abu Mohammed al-Golani, had ties to al-Qaida and joined insurgents battling U.S. forces in Iraq before entering the Syrian war. Trump says al-Sharaa had agreed to join the Abraham Accords and eventually recognize Israel, but Syria hasn't confirmed that.
WORDS: 1167 - MOVED: 05/14/2025 9:54 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bb208f25cfedecd6446fd1626012c0fb&mediaType=text
___
US--TRUMP-MIDEAST-BUSINESS TIES
Trump's Middle East visit comes as his family deepens its business, crypto ties in the region
SUMMARY: President Donald Trump's trip to the Mideast comes as sons Donald Jr. and Eric work the same part of the world for the family's moneymaking opportunities. The president's visit to Saudi Arabia, Qatar and the United Arab Emirates puts a spotlight on his willingness to embrace foreign dealmaking while in the White House, even in the face of growing concerns that doing so could tempt him to shape U.S. foreign policy in ways that benefit his family's bottom line. His press secretary says it's "ridiculous" to suggest Trump "is doing anything for his own benefit."
WORDS: 1366 - MOVED: 05/14/2025 9:35 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cbb7d2354304ce0308800819944cf3f8&mediaType=text
___
EU--EUROPE-COURT-TEXT MESSAGES
Court rules in favor of the New York Times over texts between EU chief and a pharma boss.
WORDS: 752 - MOVED: 05/14/2025 9:18 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1b43a00297ddf33272d3acb7e7f7e198&mediaType=text
___
US--CALIFORNIA-BUDGET
California governor proposes pausing expansion of health care to low-income immigrants
SUMMARY: Gov. Gavin Newsom will propose that California pause enrolling more low-income immigrants without legal status for state-funded health care benefits in 2026. He also wants to start charging people who are already enrolled a $100 monthly premium in 2027. The changes won't impact children. The decision being announced Wednesday is driven by state budget challenges. Newsom's office says the proposal could save the state $5.4 billion by 2029. California was among one of the first states to extend free health care benefits to all poor adults regardless of their immigration status last year. The expansion cost $2.7 billion more than expected.
WORDS: 877 - MOVED: 05/14/2025 9:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9e743d55cedbf231fff53935c31f16db&mediaType=text
___
US--IMMIGRANT REMITTANCES
Funds from migrants sent back home help fuel some towns' economies. A GOP plan targets that
SUMMARY: House Republicans have included in President Donald Trump's big priority bill a 5% excise tax on some of the funds sent by migrant workers back to their home countries. And Trump has said he's finalizing a presidential memorandum that would "shut down remittances" sent by people in the U.S. illegally. Experts warn banning, limiting or adding a tax on certain remittances could damage communities that rely on them and end up causing even more illegal migration to the U.S. by providing fewer resources for people in their home countries. But proponents of efforts to target remittances counter they'll discourage illegal immigration and could help generate revenue with taxes paid on them.
WORDS: 979 - MOVED: 05/14/2025 8:54 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:47ce7c2b4a0fcf47be96b0ef2ad0739d&mediaType=text
___
HOMES-FASHION-CARING FOR JEWELRY
How to care for jewelry so it stays shining, untangled and valuable.
WORDS: 893 - MOVED: 05/14/2025 8:43 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:61e7a670722dc4981351c9ac8dcab51f&mediaType=text
___
AS--THAILAND-E-WASTE
Thai officials seize over 200 tons of illegally imported electronic waste from the US.
WORDS: 381 - MOVED: 05/14/2025 8:26 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:994ef5e8c3776e9b77580d9954eebaeb&mediaType=text
___
ML--SAUDI-ARABIA-BRITISH BANKING ANALYST
British banking analyst jailed in Saudi Arabia for 10 years over 'unknown tweet'
WORDS: 468 - MOVED: 05/14/2025 7:45 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e2e6a8a9bb069f95d64b3c6fd5d6e3a1&mediaType=text
___
BEHIND THE WHEEL-IONIQ 5 VS MODEL Y
Edmunds electric SUV test: 2025 Hyundai Ioniq 5 vs 2026 Tesla Model Y
SUMMARY: The Tesla Model Y and Hyundai Ioniq 5 are two of the hottest-selling small electric SUVs. Both EVs also earn high ratings from Edmunds' auto experts and recently received updates that include revised styling, new features and more range. Edmunds compare these electric rivals to help you decide whether the Model Y or Ioniq 5 is the better choice for you.
WORDS: 855 - MOVED: 05/14/2025 6:32 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bfeded4534308c07cbfa3f08785b941c&mediaType=text
___
AS--CHINA-US-TRADE
Chinese businesses view tariff pause with caution and uncertainty
SUMMARY: While U.S. President Donald Trump has talked of victory after reaching a weekend deal with China to reduce the sky-high tariffs levied on each others' goods, businesses in China are reacting to the temporary deal with a cautious wait and see approach. The U.S. and China have cut the tariffs levied on each other in April, with the U.S. cutting the 145% tax Trump imposed last month to 30%. China agreed to lower its tariff rate on U.S. goods to 10% from 125%. Businesses like one kitchen utensil factory were eager to get back to work, going back into production for American clients. "But it is still possible the tariff policies will change again, resulting in no orders from our American clients," said one sales manager.
WORDS: 682 - MOVED: 05/14/2025 6:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ee5de150ac4ea36852c11bb6ab21af39&mediaType=text
___
AS--JAPAN-EARNS-SONY
Sony racks up record profit on robust performance for music, movies and games
WORDS: 618 - MOVED: 05/14/2025 5:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9311070e64076536fde0b7b2fc17c508&mediaType=text
___
ML--SAUDI ARABIA-MIGRANT WORKERS
Rights groups say migrant workers are dying on Saudi job sites as kingdom prepares for World Cup
SUMMARY: Two rights organizations have accused Saudi Arabia of turning a blind eye to labor abuses of migrant workers and preventable deaths. Human Rights Watch and non-profit FairSquare released separate investigations Wednesday, accusing the Saudi authorities of often misreporting such deaths and failing to investigate, preventing families from receiving compensation from the kingdom entitled to them or even telling them how their loved ones died. The kingdom is pushing ahead with hundreds of billions of dollars in infrastructure and development initiatives -- including the 2034 men's soccer World Cup and the futuristic city Neom -- with FairSquare warning there could be thousands more avoidable deaths in the coming years.
WORDS: 589 - MOVED: 05/14/2025 4:09 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:8d913465c3de81c62412dcf5ec07f11c&mediaType=text
___
US--AVIATION SAFETY-THINGS TO KNOW
Newark problems and recent crashes put focus on air traffic controller shortage and aging equipment
SUMMARY: The recent chronic delays and cancellations at New Jersey's largest airport have highlighted the shortage of air traffic controllers and the aging equipment they use, which President Donald Trump's administration wants to replace. The Federal Aviation Administration is working on a short-term fix to the problems at the Newark airport that includes technical repairs and cutting flights while dealing with a shortage of controllers. But even before those problems, aviation was already in the spotlight ever since the deadly midair collision in January. That investigation continues while the U.S. Department of Transportation tries to make progress on the long-standing issues of not having enough air traffic controllers and relying on outdated equipment.
WORDS: 1172 - MOVED: 05/14/2025 12:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b07eb7cd16e55380d4e9c6fd67c4eef0&mediaType=text
___
