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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US--SUPREME COURT-UNDECIDED-CASES

FORMATS: Video, LiveVideo, Text, Photo

1. WITH: US-SUPREME COURT-TAKEAWAYS

2. DESCRIPTION: The highlights from the court's term.

3. UPCOMING: By 06/27/2025 5:05 p.m. EDT

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NEW AND DEVELOPING

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FINANCIAL MARKETS

Stocks gain ground and put S&P 500 and Nasdaq on a path for all-time highs

SUMMARY: Stocks rose and put Wall Street on track to finish the strong week at an all-time high. The S&P 500 rose 0.3% Friday and is on track to surpass its record set in February. The Nasdaq rose 0.3% and is also on track for a record. The Dow Jones Industrial Average rose 0.4%. A record for the S&P 500 would mark a sharp turnaround from just three months ago, when the index fell nearly 20% from the February high on fears that the Trump administration's trade policy could harm the economy. Nike soared despite warning of a steep hit from tariffs.

WORDS: 385 - MOVED: 06/27/2025 10:10 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:53ddd3e8d11be4d09419418b4f141382&mediaType=text

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US--CONSUMER SPENDING

Key read on inflation rose last month and Americans cut back on spending

SUMMARY: A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans cut back on their spending. Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, the Commerce Department said Friday. Excluding the volatile food and energy categories, core prices rose 2.7% from a year earlier, an increase from 2.5% the previous month. Both figures are modestly above the Federal Reserve's 2% target. The inflation figures suggest that President Donald Trump's broad-based tariffs are still only having a modest effect on prices.

WORDS: 796 - MOVED: 06/27/2025 10:07 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a79d36a04c4ce1e264bc86098e4f5583&mediaType=text

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AF--CONGO-RWANDA-PEACE AGREEMENT

Congo and Rwanda will sign a US-mediated peace deal to end the conflict in eastern Congo

SUMMARY: The Democratic Republic of Congo and Rwanda are set to sign a peace deal facilitated by the U.S. to help end the decades-long deadly fighting in eastern Congo. The peace deal is due to be signed in Washington on Friday afternoon. It has been lauded by U.S. President Donald Trump as "a big day for the world." The deal will also help the U.S. government and American companies gain access to critical minerals needed for much of the world's technology. Africa analysts see the deal as a major turning point but don't believe it will quickly end the fighting in the region.

WORDS: 804 - MOVED: 06/27/2025 9:56 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:5e5b52100729ad6587a6f267c6c79ae0&mediaType=text

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US--NIKE-CHINA

Nike soars on a production shift away from China, but it warns of a $1 billion tariff hit

SUMMARY: Nike's shares are rising sharply after saying it plans to shift some of its production away from China. The footwear and clothing company also said late Thursday that tariffs imposed by the Trump administration will cost it about $1 billion before it makes internal changes, which include "surgical" price increases in the U.S. this year. Shares of the company jumped 15% at the opening bell Friday.

WORDS: 433 - MOVED: 06/27/2025 9:51 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f84fe37e11dbf4b439d8655d3533380c&mediaType=text

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WORLD BANK-FRAGILE STATES

World Bank warns that 39 fragile states are falling further behind as conflicts grow, get deadlier

WORDS: 531 - MOVED: 06/27/2025 9:30 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:57c1f24ea6ca753e64870a7f882038d5&mediaType=text

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EU--GERMANY-ECONOMY

German minimum wage set to rise by about 14% over the next 18 months

WORDS: 326 - MOVED: 06/27/2025 8:11 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:44e262123fef7f17c95ecf9905a4cef6&mediaType=text

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EU--EUROPE-APPLE

Apple revamps EU App Store terms to avert more fines

SUMMARY: Apple has moved to revamp its European Union app store policies as it seeks to fend off escalating fines under the 27-nation bloc's digital competition regulations. The changes unveiled by the iPhone maker were a last-minute bid to avoid further penalties following a 500 million euro penalty in April. The bloc's executive Commission had punished Apple for preventing app makers from pointing users to cheaper options outside its App Store. It also gave Apple a 60-day deadline, which expired Thursday, to comply or risk additional periodic fines. The changes will make it easier for app makers to point users to better deals on digital products and options to pay for them outside of Apple's own App Store.

WORDS: 309 - MOVED: 06/27/2025 6:44 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f68dbd203284ecab38860d8da2140899&mediaType=text

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AS-ASIA-OIL-DEPENDENCE

Israel-Iran was was a wake-up call for Asia's dependence on Middle East oil

WORDS: 1117 - MOVED: 06/27/2025 5:30 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4b5ad7adcc227b1581127ef670ec3659&mediaType=text

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AS--THAILAND-CANNABIS

Thailand starts banning the sale of cannabis without a prescription

SUMMARY: Thailand has started banning the sale of cannabis to those without a prescription, three years after becoming the first country in Asia to decriminalize the plant. The new order, signed by Health Minister Somsak Thepsutin earlier this week, came into effect Thursday. A violation could result in a maximum one-year jail term and a 20,000-baht ($614) fine, according to the order. The earlier move to decriminalize cannabis has boosted Thailand's tourism and farming industries, but the country has faced public backlash over allegations that a lack of regulation made the drug available to children and caused addiction.

WORDS: 639 - MOVED: 06/27/2025 5:25 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:04b9dc73d43a172cac2da04f0117ab3b&mediaType=text

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CHINA-US-TRADE

Trump says US has signed a deal with China on trade, without giving details

SUMMARY: U.S. President Donald Trump says the U.S. has signed an agreement with China on trade and expects to soon have a deal with India. Commerce Secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week, but he gave no details. China's confirmation of a deal was also vague. Lutnick said Trump is "the dealmaker" and wanted to "close these deals himself." China has not announced any agreements, but it has said it was speeding up approvals of exports of rare earths, materials used in high-tech products such as electric vehicles. The deal mentioned by Trump followed meetings in London where officials said they had set a framework for resolving trade disputes.

WORDS: 697 - MOVED: 06/27/2025 4:23 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:463ae8d6ccba15b56c7d4d31d3fc42a1&mediaType=text

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EU--EUROPE-SUMMIT

EU leaders seek a big boost in Ukraine military support but make little progress on Russia sanctions

SUMMARY: European Union leaders are calling for greater efforts to help meet Ukraine's pressing military needs. The leaders expressed support for Kyiv's quest to join their ranks, but they made little headway with new Russia sanctions. In a summit statement Thursday they said it was important to deliver more "air defense and anti-drone systems, and large-caliber ammunition, to help Ukraine." They underlined the need to help support Ukraine's defense industry. Ukrainian President Volodymyr Zelenskyy took part in the meeting via videolink. The leaders also deplored the "dire humanitarian situation in Gaza." They said foreign ministers would debate the future of EU-Israel ties on July 15.

WORDS: 989 - MOVED: 06/27/2025 1:44 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:fe37c213eb72f7f1589840387db5a7a1&mediaType=text

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