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.
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UPCOMING
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META ANTITRUST
DESCRIPTION: AP reporter covering for text in court as Meta CEO Mark Zuckerberg is expected to testify again in a federal courtroom during an antitrust case alleging the company illegally monopolized the social media market.
UPCOMING: By 04/16/2025 11:00 a.m. EDT, Photo, Text
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FEDERAL-RESERVE-POWELL
DESCRIPTION: Federal Reserve Chair Jerome Powell delivers economic outlook in Chicago.
UPCOMING: By 04/16/2025 1:30 p.m. EDT, Photo, Text
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EARNS-CSX
DESCRIPTION: CSX railroad will release its first-quarter earnings report on Wednesday afternoon. The results will offer insights into the health of the economy because railroads carry the raw materials and products for so many industries. By Business Writer Josh Funk. With: AP file photo
UPCOMING: By 04/16/2025 5:30 p.m. EDT, Photo, Text
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NEW AND DEVELOPING
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FINANCIAL MARKETS
Nvidia drags Wall Street down as United Airlines says it's impossible to predict this year's economy
SUMMARY: Nvidia is pulling Wall Street lower after it said new restrictions on exports to China will chisel billions of dollars off its results. The S&P 500 fell 1.2% Wednesday. The Dow dropped 244 points, and the slide for Nvidia dragged the Nasdaq composite down 2%. Tariffs and other impediments to global trade are raising uncertainties about the global economy. It's so dynamic that United Airlines gave two forecasts for its financials this upcoming year, one if there's a recession and another if not. Amid the tumult, U.S. shoppers accelerated their purchases of cars and electronics last month to get ahead of possible tariffs.
WORDS: 855 - MOVED: 04/16/2025 10:23 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:aeb0ed831602ab06235065aace6df5ec&mediaType=text
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US-TRADE-CHIP CONTROLS
Tech shares fall after Nvidia says new US controls on exports of AI chip will cost it $5.5 billion
SUMMARY: Shares in Nvidia and other tech companies slumped after the computer chipmaker said that tighter U.S. government controls on its exports of semiconductors used for artificial intelligence will cost it an extra $5.5 billion. The company announced Monday that it will produce its artificial intelligence super computers in the United States for the first time. It said it was told Monday that its H20 integrated circuits and others of a similar bandwidth would be subject to the controls. Shares of Nvidia and rival chipmaker Advanced Micro Devices each fell about 6% in morning trading Wednesday.
WORDS: 473 - MOVED: 04/16/2025 10:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0e6fbdc1ad8b54d8ecc704393c2a1558&mediaType=text
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US--CALIFORNIA-TARIFFS LAWSUIT
California will sue to stop Trump from imposing sweeping tariffs
SUMMARY: California is filing a lawsuit to challenge President Donald Trump's tariffs. The state's Democratic governor says the president lacks the authority to impose a 10% tariff on all imports. Gov. Gavin Newsom says the tariffs are driving up prices and threatening jobs in California. The lawsuit will ask for the tariffs to be blocked. Newsom will discuss the lawsuit alongside California Attorney General Rob Bonta on Wednesday in the farm-rich Central Valley. Trump says the tariffs are designed in part to spur U.S. manufacturing and balance trade deficits with other countries.
WORDS: 345 - MOVED: 04/16/2025 10:15 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2a4ae0ba9e8360c4c894245100315b8b&mediaType=text
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US--SPOTIFY-OUTAGE
Is Spotify down? Thousands of users report problems with music streaming app.
WORDS: 125 - MOVED: 04/16/2025 10:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:8ac841c1316b49e9ae7942e632aa92ff&mediaType=text
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US--EDUCATION-INTERNATIONAL STUDENTS
Visa cancellations sow panic for international students, with hundreds fearing deportation
SUMMARY: The speed and scope of the federal government's efforts to terminate the legal status of international students have stunned colleges and universities across the country. Few corners of higher education have been untouched, as schools ranging from prestigious private universities, large public research institutions and tiny liberal arts colleges discover status terminations one after another among their student body. At least 790 students at more than 120 colleges and universities have had their visas revoked or their legal status terminated in recent weeks, according to an Associated Press review of university statements and correspondence with school officials.
WORDS: 1285 - MOVED: 04/16/2025 10:07 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f12320b435b6bf9cf723f1e8eb8c67ae&mediaType=text
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EU--GERMANY-TARIFFS-NUTCRACKERS
Trump's tariffs could be tough to crack for a German nutcracker maker focused on the US
SUMMARY: U.S. President Donald Trump's tariffs threaten to become a tough nut to crack in an unlikely place -- a small company whose factory nestled deep in the hills of eastern Germany produces painstakingly hand-crafted nutcrackers that are snapped up by American collectors. Steinbach Volkskunst sells more than 90% of what it makes to the United States. It is looking at ways to lessen the impact of tariffs, but can only change so much. The "made in Germany" label is important to its appeal and the focus on the U.S. market is deeply embedded in the company's history. Its manager says it will "keep faith with America."
WORDS: 839 - MOVED: 04/16/2025 9:59 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4bf28b6ae57ef8c067388cdea4c67cb3&mediaType=text
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US--TRUMP-TARIFFS
Trump says he's joining Bessent and Lutnick for trade negotiations with Japanese at the White House
SUMMARY: President Donald Trump says he's joining some of his top economic advisers for negotiations at the White House over tariffs and trade with a top Japanese official who's traveling to Washington for the talks. The Republican president says in a post on his social media platform he'll attend the meeting Wednesday alongside Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. Trump recently announced a round of global tariffs but then quickly put them on hold for 90 days after the markets tanked. Japan's 24% across-the-board tariff is on hold. But a 10% baseline tariff and a 25% tariff on cars, auto parts, steel and aluminum exports to the U.S. remain in place.
WORDS: 671 - MOVED: 04/16/2025 9:51 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9134808d0e4aaf30bc60b28d7adc9b32&mediaType=text
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EU--SWITZERLAND WTO TRADE
World Trade Organization says global trade could slide this year because of Trump's tariff policies.
WORDS: 318 - MOVED: 04/16/2025 9:38 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0dfd480d5cee52ff39b369b7c781695d&mediaType=text
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US--RETAIL SALES
Retail sales rise 1.4% in March as shoppers stock up on big ticket items ahead of tariffs
SUMMARY: U.S. shoppers increased their shopping last month, fueled by a spending spree on foreign-made new big ticket items from gadgets to cars before President Donald Trump's expansive new tariffs started kicking in. Retail sales rose a better-than-expected 1.4% in March, after rising 0.2% in February, according to the Commerce Department. Retail sales fell 1.2% in January, hurt in part because cold weather kept more Americans indoors, denting sales at car dealers and most other stores. Excluding sales at auto dealers, sales only rose 0.5%. Sales at auto dealers rose 5.3%, while electronics retailers had a 0.8% increase. Sporting goods retailers enjoyed a 2.4% gain.
WORDS: 1021 - MOVED: 04/16/2025 9:34 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e62663e79129f5b2e6bc1e4f99c4e95a&mediaType=text
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TRUMP-EPA-COAL ASH
Burning coal leaves dangerous waste. Trump's EPA eyes looser rules for handling it
SUMMARY: Waste from coal plants was one of the Trump administration's recent deregulatory targets. Commonly called coal ash, this waste includes hazardous metals like lead and arsenic and is produced in huge quantities by coal-fired power plants. The Biden administration expanded safe disposal standards. The Trump administration said it will rethink those rules, may extend deadlines and will hand more power to states to administer their own coal ash permitting programs. Environmental groups worry this will increase groundwater pollution and the risk of disastrous coal ash spills. The coal industry says the Biden administration imposed too many costly regulations that would force the shutdown of plants at a time when electricity demand is booming.
WORDS: 1039 - MOVED: 04/16/2025 9:33 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:52ffbba93ca19d21a37294f1d0b6348e&mediaType=text
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LEQEMBI-EUROPEAN APPROVAL
European regulators OK Alzheimer's treatment Leqembi after initial doubts
SUMMARY: European regulators have finally approved the Alzheimer's treatment Leqembi after an advisory committee initially rejected the drug last summer. The infused treatment from Japanese drugmaker Eisai and Biogen received approval for patients in early stages of the fatal, mind-robbing disease. The decision applies to all 27 members of the European Union. A European committee initially said last July that the drug should not receive marketing approval due to concerns about its side effects. Those include brain bleeding and swelling, which can be dangerous in rare cases. Eisai asked the committee to reconsider, and it then recommended approval in November.
WORDS: 254 - MOVED: 04/16/2025 9:13 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ea22a1f7d4d4e69dfc2a2c94412a6f35&mediaType=text
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US--NEW JERSEY TRANSIT-ENGINEERS
New Jersey Transit train engineers reject labor deal with management
SUMMARY: New Jersey Transit train engineers rejected a labor agreement with management, raising the potential for a strike or a lockout next month. The Brotherhood of Locomotive Engineers and Trainmen says the March deal was rejected by a margin of 87%. The union says the Railway Labor Act permits the workers to strike or NJ Transit's management to lock workers out as soon as May 15. The union's general chairman Tom Haas says members are angry and have gone without a raise since 2019. NJ Transit President and CEO Kris Kolluri says in a statement he was disappointed and that he was committed to returning to the bargaining table.
WORDS: 318 - MOVED: 04/16/2025 8:22 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:276a38d7ae7a74b8b251399528f31efb&mediaType=text
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AS--CHINA-US-TRADE
China appoints a new trade negotiator during tariff fight with the US
SUMMARY: China has appointed a new trade negotiator in the midst of its tariff fight with the United States as the world's two largest economies steadily increase tariffs on each other's goods. The government said Li Chenggang replaces Wang Shouwen, who participated in negotiations for the countries' 2020 trade deal. China faces 145% taxes on exports to the U.S., while the Trump administration gave dozens of other countries a 90-day reprieve for most duties. Beijing has hit back at the U.S. with 125% tariffs on American exports. China says any dialogue with the U.S. must be based on "equality, respect and mutual benefit."
WORDS: 800 - MOVED: 04/16/2025 7:56 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:c0668ef698618b113827a43732a4934a&mediaType=text
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US--TARIFFS-RETIREES
Older Arizona voters are closely watching Trump's tariffs -- and their retirement accounts
SUMMARY: President Donald Trump was elected with a promise to improve the economy, lower taxes and control inflation, addressing voters who said the economy was the country's top issue. But for retirees like Susan Hemphill, of Sun City, Arizona, the Republican president's economic stewardship has been defined by the roller coaster of the stock market and fears his tariffs will lead to higher inflation. How those issues shake out could affect the 2026 midterms and the 2028 presidential election, as the center of political gravity shifts toward battleground states in the South and the West, places like Arizona that are popular with retirees. Trump supporters like Paul Estok say they're confident he has a handle on the situation.
WORDS: 1095 - MOVED: 04/16/2025 7:56 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4dde45b94fc54057c20fd82ddcaebfe8&mediaType=text
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US--WWE-WRESTLEMANIA
WWE's WrestleMania continues to bulk up, providing a dayslong extravaganza for fans
SUMMARY: As wrestling fans prepare to descend upon Las Vegas for WWE's WrestleMania 41, demand has steadily grown so much over the years that it's now bulked up into a dayslong event. While WrestleMania matches will be held on April 19 and 20, a flurry of activities will take place in the days before and after, including meet and greets with wrestlers, a WWE Hall of Fame ceremony, matches for weekly television shows including "Smackdown," "Raw," and "NXT" and a Roast of WrestleMania hosted by comedian Tony Hinchcliffe.
WORDS: 469 - MOVED: 04/16/2025 7:13 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7406661dba61064eaa9ca96736e0efc6&mediaType=text
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BEHIND THE WHEEL: USED SUVS- UNDER $20K
Edmunds: Five great used SUVs for teens under $20,000
SUMMARY: SUVs are typically larger, heavier, harder to control and slower to brake than a standard coupe or sedan. So why would you give one to a newly or recently minted driver? For one reason, safety. Studies show SUVs inherently shake off front and rear collisions better than regular passenger cars. But SUVs also tend to fit teen lifestyles and responsibilities, offering plenty of room for friends, family and things. And with several styles of SUV, from sleek and sporty to rough and rugged, there's one to suit any teen's personality.
WORDS: 800 - MOVED: 04/16/2025 6:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7763d0c41e20b25134076c216a4f16ab&mediaType=text
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CHINA-ECONOMY
China's economy grew 5.4% in the first quarter as exporters rushed to beat Trump's tariffs
SUMMARY: China's economy expanded at a robust 5.4% annual pace in January-March, supported by strong exports ahead of U.S. President Donald Trump's rapid increases in tariffs on Chinese exports. Analysts forecast that the world's second largest economy will slow significantly in coming months, however, as tariffs as high as 145% on U.S. imports from China take effect. Exports were a strong factor in China's ability to attain a 5% annual growth rate in 2024 and the official target for this year remains at about 5%. Beijing has hit back at the U.S. with 125% tariffs on American exports, while also stressing its determination to keep its own markets open to trade and investment.
WORDS: 885 - MOVED: 04/16/2025 5:40 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:45a04578c3d637465b9043600fc54ca2&mediaType=text
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ML--EMIRATES-MALL
Dubai's Mall of the Emirates, home to a ski slope, to get $1.3 billion renovation.
WORDS: 157 - MOVED: 04/16/2025 4:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:435c527373e27a94d97fb5a98c7754b0&mediaType=text
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EU--BRITAIN-ECONOMY
UK inflation dips in March, potentially paving the way for another interest rate cut.
WORDS: 396 - MOVED: 04/16/2025 3:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:40f5f603e9900768df2b29c9774ee88a&mediaType=text
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AS--ASIA-CHINA-XI
Xi makes a case for free trade, presenting China as a source of 'stability and certainty'
WORDS: 623 - MOVED: 04/16/2025 2:32 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:559757744cd48ca28a5171fe5071f9cc&mediaType=text
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AS--JAPAN-US-TARIFFS
Japan's chief trade negotiator to visit Washington for tariff talks this week
SUMMARY: Japan's chief trade negotiator will visit the United States this week for talks aimed at convincing U.S. President Donald Trump to remove tariff measures against the East Asian country. Economic Revitalization Minister Ryosei Akazawa will be in Washington from Wednesday to Friday for talks with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, according to Chief Cabinet Secretary Yoshimasa Hayashi on Wednesday. The visit is to "build a relationship of trust" between the two sides, with Japan requesting the U.S. side to drop the tariff measures, Hayashi said on Wednesday.
WORDS: 379 - MOVED: 04/16/2025 12:53 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:693965f58db9446c6a010f5adeeabf48&mediaType=text
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US--TRUMP TARIFFS-MAPLE SYRUP
Vermont maple syrup makers face uncertainty amid Canada and China tariff chaos
SUMMARY: Making maple syrup in New England's fickle spring weather can be an unpredictable business. Now President Donald Trump's ever-changing tariff policies are adding anxiety about an industry that depends on cross-border trade. U.S. syrup producers generally buy their equipment from Canada and can get their packaging and equipment from China or Europe. Canadian producers sell nearly two-thirds of their finished products to U.S. consumers. All are affected by the steep new taxes announced by the White House.
WORDS: 506 - MOVED: 04/16/2025 12:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9d9f1af448e8abf59f8ac591ee298746&mediaType=text
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US--MEDIA-LA TIMES-INSIGHTS
Don't like a columnist's opinion? Los Angeles Times offers an AI-generated opposing viewpoint
SUMMARY: In the Los Angeles Times, you no longer have to take an opinion columnist's word for it. The newspaper has introduced a new feature generated by AI that accompanies these columns to provide some opposing points of view and label the opinion as liberal, moderate or conservative. The new feature, "Insights," is part of a series of changes ordered by newspaper owner Dr. Patrick Soon-Shiong that have caused controversy at the paper. Soon-Shiong says he wants more points of view in the traditionally liberal opinion pages; critics question whether he's trying to appeal President Donald Trump. All six writing members of the paper's editorial board have left since Soon-Shiong nixed a presidential endorsement for Californian Kamala Harris.
WORDS: 1124 - MOVED: 04/16/2025 12:05 a.m. EDT
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