Business News Digest

LIAM BOWMAN

August 20, 2025

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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GOOGLE-PIXEL PHONES

DESCRIPTION: Google is expected to unveil the a new line of Pixel phones boasting even more artificial intelligence features in an attempt to exploit a technological shortcoming in Apple's iPhone.

UPCOMING: By 08/20/2025 12:00 p.m. EDT, Text

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FEDERAL RESERVE-MINUTES

DESCRIPTION: The Federal Reserve releases minutes from its July policy meeting, when it left its benchmark interest rate alone for the fifth straight time this year, despite increasing pressure from President Donald Trump for a cut. By Christopher Rugaber. UPCOMING: Developing from release of minutes at 2 p.m.

UPCOMING: By 08/20/2025 2:00 p.m. EDT, Text, Photo

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NEW AND DEVELOPING

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US--RAILROADS-EMERGENCY RESPONSE

Many towns are unprepared to handle train derailments and hazmat spills

SUMMARY: Train derailments involving spills of 1,000 gallons or more of hazardous materials happen a few times a year, often resulting in evacuations or fires. The Howard Center for Investigative Journalism at the University of Maryland found first responders, especially in smaller communities along rail lines, often lack the training, equipment and timely information from railroads to safely respond when that happens. Federal budget cuts could make those problems worse. According to the U.S. Fire Administration, fewer than 1 in 5 fire departments nationwide have their own team of hazmat specialists.

WORDS: 1551 - MOVED: 08/20/2025 10:10 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:ef581ec622c1365e9db49336178a039f&mediaType=text

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SEAGLIDERS

Winged ferry that glides like a pelican tested for coastal transportation

SUMMARY: Regent Craft is testing a new type of winged passenger ferry on Narragansett Bay. The vessel, called Paladin, glides over water using hydrofoils and is designed to fly up to 30 feet above the surface. CEO Billy Thalheimer recently piloted the craft during a test run and is preparing for its first flight test. Regent aims to use this technology for both commercial ferry routes and military applications. The company plans to start carrying passengers by 2027. Backed by investors like Peter Thiel and Mark Cuban, Regent hopes to make short-distance water travel more efficient and enjoyable.

WORDS: 1350 - MOVED: 08/25/2025 9:08 a.m. EDT

https://apnews.com/article/seaglider-flying-boat-regent-craft-fa6753aceb96a945f6a1f8855cc4e9c9

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FINANCIAL MARKETS

Drops for Nvidia, Palantir and other AI stars drag Wall Street lower again

SUMMARY: Nvidia, Palantir and other superstar AI stocks are under pressure again and dragging Wall Street lower. The S&P 500 fell 0.6% Wednesday and was on track for a fourth straight loss after setting an all-time high last week. The Dow Jones Industrial Average dipped 35 points, and the Nasdaq composite dropped 1.4%. Nvidia was on track again to be the heaviest weight on Wall Street. Mixed profit reports from big U.S. retailers helped keep the market in check, and more stocks rose in the S&P 500 than fell. Lowe's and TJX climbed following their updates, while Target and La-Z-Boy sank.

WORDS: 774 - MOVED: 08/20/2025 10:08 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:aef1ba36b77da6b63c1d66b31f7c12c9&mediaType=text

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CLIMATE CHOICES-BUYING SUSTAINABLY

How to make climate-friendly and sustainable choices when shopping online

SUMMARY: There's clearly an appetite for shopping sustainably online. But it can be overwhelming to figure out how to find the certifications and companies that are actually making a difference. Certification experts say brands that are serious about sustainability should be transparent, meet third-party standards and quantify their environmental impact. Large e-commerce websites may highlight the certifications with special icons, hyperlinks to certification programs or written descriptions. Retail websites such as Amazon, Walmart and Target have set emissions benchmarks and other climate-related targets for their suppliers and list their own companywide sustainability goals.

WORDS: 944 - MOVED: 08/20/2025 9:07 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:0f8583fd053868016289a6af08f6b4ea&mediaType=text

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US--TARGET CEO

Target picks an insider to lead the struggling company when CEO Brian Cornell steps down next year

SUMMARY: Target CEO Brian Cornell plans to step down Feb. 1. He helped reenergize the company but has struggled to turn around weak sales in a more competitive retail landscape. Minneapolis-based Target says Cornell will be succeeded by Chief Operating Officer Michael Fiddelke, a 20-year company veteran. Cornell will transition to be executive chair of the board. Cornell took the helm at Target in August 2014. In September 2022, the board extended his contract for three more years and eliminated a policy requiring its chief executives to retire at age 65. Fiddelke has overhauled Target's supply network and expanded the company's stores and digital services while cutting costs.

WORDS: 1146 - MOVED: 08/20/2025 8:03 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:1d87a977b4869d4bace9ff85e6da427d&mediaType=text

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US--LOWE'S-ACQUISITION

Lowe's buying Foundation Building Materials for about $8.8B as it intensifies focus on pro builders

SUMMARY: Lowe's is buying Foundation Building Materials, a distributor of drywall, insulation and other products, for approximately $8.8 billion as the home improvement retailer intensifies its focus on professional builders. Lowe's deal for FBM is expected to close in the fourth quarter. The company also raised its full-year sales outlook.

WORDS: 424 - MOVED: 08/20/2025 7:50 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:2be84addea3e450819bc89ac4a0ed8ea&mediaType=text

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TRUMP-INTEL-WHAT TO KNOW

Trump thinks owning a piece of Intel would be a good deal for the US. Here's what to know

SUMMARY: President Donald Trump wants the U.S. government to own a piece of Intel, less than two weeks after demanding the Silicon Valley pioneer dump the CEO that was hired to turn around the slumping chipmaker. If the goal is realized, the investment would deepen the Trump administration's involvement in the computer industry as the president ramps up the pressure for more U.S. companies to manufacture products domestically instead of relying on overseas suppliers. The Associated Press takes a closer look at how this unusual deal appears to be on the verge of getting done.

WORDS: 750 - Moved: 08/20/2025 8:03 a.m. EDT

https://apnews.com/article/intel-trump-chips-government-stake-lutnick-09584b8418fe3589e1c4cd03cc5f156b

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EU--BRITAIN-ECONOMY

Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes

SUMMARY: Higher food and airfare prices pushed U.K. inflation above expectations in July. The development has tempered market expectations that the Bank of England will cut interest rates again this year. The Office for National Statistics said Wednesday that consumer price inflation was 3.8% in the year to July, up from 3.6% in June. Most economists had anticipated a more modest rise in inflation to 3.7%. With inflation at its highest rate since Jan. 2024 and nearly double the Bank of England's target of 2%, the prospects of another rate cut in 2025 are diminishing.

WORDS: 289 - MOVED: 08/20/2025 5:49 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:20d257a1a81681addd6ad85f2b375808&mediaType=text

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EU--FRANCE-OVERTOURISM

Paris residents fight overtourism and 'Disneyfication' of beloved Montmartre neighborhood

SUMMARY: The cobbled streets of Paris' once-bohemian Montmartre district are becoming the latest flashpoint in European cities' pushback against overtourism. Residents say locally focused shops are disappearing in favor of stalls selling trinkets and hordes of people shooting selfies. Paris is a city of just over 2 million residents if its sprawling suburbs are included. It welcomed over 48 million tourists in 2024, a 2% increase from the previous year. Now Paris tourism officials are signaling another potentially record-breaking season. Urban planners warn that historic neighborhoods risk becoming what some critics call "zombie cities" -- picturesque but lifeless.

WORDS: 687 - MOVED: 08/20/2025 3:39 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:510264eb6614895a71fcfd934fb2d674&mediaType=text

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