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-MED--LSD STUDY
DESCRIPTION: The psychedelic drug LSD reduced symptoms of anxiety in a mid-stage study published Thursday, paving the way for additional testing and possible medical approval by US regulators.
UPCOMING: By 09/04/2025 11:00 a.m. EDT, Text, Photo
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TRUMP-TECH LEADERS
DESCRIPTION: President Donald Trump will host a high-powered list of tech CEOs for a dinner at the White House, and first lady Melania Trump hosts a meeting of a task force on AI education. (Melania Trump's event is at 1 p.m. ET, and Donald Trump's dinner is at 7:30 p.m. ET.)
UPCOMING: By 09/04/2025 1:00 p.m. EDT, Text, Photo
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TARIFFS-CORK-PORTUGAL
DESCRIPTION: When the dust settled, one of few products spared by the Trump administration's tariffs was cork -- since no viable replacement was at hand. The spongy tree bark is found only around the Mediterranean basin, and it isn't just the crucial material for stopping wine and champagne bottles. It has also been used by NASA and SpaceX for thermal protection on rockets and spacecraft, and as under-surface infill for sports fields and airport runways to help absorb the shock of hard landings. The exemption was vital for the cork industry in Portugal, which accounts for about half of global production. Harvesting entails peeling featherweight slabs of bark off trees once every nine years -- a skilled labor done the same way for centuries.
UPCOMING: By 09/04/2025 11:00 p.m. EDT, Text, Video, Photo
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NEW AND DEVELOPING
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FINANCIAL MARKETS
Wall Street holds steady following the latest signals that the job market is slowing
SUMMARY: Wall Street is holding steady as pressure from the bond market eases. The S&P 500 was virtually unchanged in Thursday morning trading. The Dow Jones Industrial Average slipped 52 points, and the Nasdaq composite was flat. Treasury yields eased following the latest discouraging signals on the job market. Reports indicated weaker hiring among private employers and a potential increase in layoffs. Neither is flashing a recession, but a slowdown in the job market could push the Federal Reserve to cut its main interest rate in a couple weeks. A more comprehensive jobs report is due Friday, which will likely carry more weight with the Fed.
WORDS: 674 - MOVED: 09/04/2025 10:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6d516f33d189c8f6f82f3932eabcbc94&mediaType=text
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AS--CHINA-NORTH KOREA
North Korean leader Kim Jong Un meets with Chinese leader Xi Jinping
SUMMARY: North Korean leader Kim Jong Un met with Chinese leader Xi Jinping on the sidelines of festivities commemorating the end of World War II, state media reported Thursday. Kim attended a Chinese military parade in Beijing a day earlier alongside other foreign leaders including Russian President Vladimir Putin. Experts say Kim likely hopes to restore ties with China. The country is North Korea's biggest trading partner and aid provider. There have been questions about the bilateral relationship. China wants its neighbor to return to negotiations and give up its nuclear weapons development.
WORDS: 566 - MOVED: 09/04/2025 10:09 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a7c380c34f3d13d6670edfc07b3ed2be&mediaType=text
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EU--PORTUGAL-STREETCAR DERAILED
Portuguese investigators search for cause of Lisbon streetcar crash that killed 16
SUMMARY: Portuguese officials are focused on establishing the causes of the crash of a Lisbon streetcar popular with tourists that killed 16 people and injured 21, five of them seriously. Lisbon Mayor Carlos Moedas said in a televised statement Thursday: "The city needs answers." The downtown streetcar, which is known as Elevador da Gloria and is a major attraction for tourists packing the Portuguese capital during the summer season, derailed during the evening rush hour Wednesday. The crumpled wreckage was cordoned off as investigators sifted through the wreckage, took photographs and pulled up a metal cable from beneath the rails.
WORDS: 943 - MOVED: 09/04/2025 10:04 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a12688b21b2059d18cab6c2117a376af&mediaType=text
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US--TRUMP-TECH LEADERS
Trump will host top tech CEOs except Musk at a White House dinner
SUMMARY: President Donald Trump will host a high-powered list of tech CEOs for a dinner at the White House. The White House says Thursday's guest list includes Microsoft co-founder Bill Gates, Apple CEO Tim Cook, Meta CEO Mark Zuckerberg and a dozen other executives from the biggest artificial intelligence and tech firms. One notable absence from the guest list is Elon Musk, once a close ally Trump tasked with running the government-slashing Department of Government Efficiency. Musk had a public breakup with the Republican president. Some dinner guests also are expected to participate in a meeting of the White House's Artificial Intelligence Education task force, chaired by first lady Melania Trump.
WORDS: 428 - MOVED: 09/04/2025 9:57 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e234e719d96d299d2f670037f9505a9f&mediaType=text
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US--AMERICAN EAGLE-SWEENEY
American Eagle soars as teen clothing retailer embraces Sydney Sweeney frenzy
SUMMARY: Shares of American Eagle Outfitters spiked 31% at the opening bell after the teen clothing retailer said the frenzy surrounding its Sydney Sweeney ad campaign drew new customers during its most recent quarter. American Eagle rolled out its new new ad campaign starring 27-year-old actor over the summer. The fall denim campaign sparked a debate about race, Western beauty standards, and the backlash to "woke" American politics and culture. Negative reactions centered on ads that used the word "genes" instead of "jeans" when the blonde-haired, blue-eyed actor known for the HBO series "Euphoria" and "White Lotus."
WORDS: 468 - MOVED: 09/04/2025 9:57 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e562d189b95219e40ebc857ec2d8155a&mediaType=text
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US--ARTIFICIAL INTELLIGENCE-HISPANIC HOMEOWNERSHIP
Artificial intelligence helps break barriers for Hispanic homeownership
SUMMARY: Some mortgage experts are using artificial intelligence to help Hispanic homebuyers navigate the loan application process. This new bilingual AI tool aims to assist loan officers in finding the best lenders for specific situations, while clearly explaining the process and navigating residency, visa, or income requirements. The Hispanic Organization of Mortgage Experts launched the AI platform called Wholesale Search last week. It helps loan officers quickly search requirements from over 150 lenders. This tool is designed to handle complex cases, like borrowers without a Social Security number. Experts acknowledge AI's risks but stress its potential to modernize the industry.
WORDS: 842 - MOVED: 09/04/2025 9:50 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:98cdd138473d19805add0b8bc1534d63&mediaType=text
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US--TRUMP-TARIFFS
Trump asks Supreme Court to quickly take up tariffs case and reverse ruling finding them illegal
SUMMARY: The Trump administration is taking the fight over tariffs to the Supreme Court, asking the justices to rule quickly that the president has the power to impose sweeping import taxes under federal law. In an appeal filed late Wednesday, the government called on the court to reverse an appeals court ruling that most of President Donald Trump's tariffs were illegal under an emergency powers law. The U.S. Court of Appeals for the Federal Circuit left the tariffs in place for now. The administration nevertheless called on the high court to intervene quickly, arguing the ruling is harming trade negotiations and international relations.
WORDS: 588 - MOVED: 09/04/2025 9:38 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3c71bfeeeb0f9fe56652d9dc23c1991c&mediaType=text
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AS--INDONESIA-GOJEK-ARREST
Founder of Indonesian payments platform Gojek arrested in connection with graft probe
WORDS: 365 - MOVED: 09/04/2025 9:34 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:df553741d742c51fc1a1c3fb658ffe18&mediaType=text
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BE WELL-WORKING WELL-REMOTE JOBS
Remote jobs are hard to get. Workers who did share tips for finding one
SUMMARY: The trend of ditching traditional office space to work from living rooms and hotels accelerated when the coronavirus hit in 2020. Once given a taste of the freedom and flexibility, many workers grew accustomed to that lifestyle. Working parents enjoyed being home when children got off the school bus. Others found more time for exercise, socializing and nature. But many large companies began calling workers back into the office, making competition for remote jobs fierce. Many jobs advertised as remote attract hundreds of applications. Workers and career experts offer advice on how to land remote jobs in a competitive climate.
WORDS: 1271 - MOVED: 09/04/2025 9:26 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:76a61cc6a646493dc3f5e0bfa733160c&mediaType=text
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CREDIT CARDS-INTEREST RATE CAP
Americans would save $100B if credit card rates were capped as Trump proposed, researchers say
SUMMARY: A new paper from Vanderbilt University suggests Americans could save about $100 billion annually if credit card interest rates were capped at 10%, as proposed by President Donald Trump. The study indicates banks could still remain profitable even with such a cap. The paper found banks could earn profits with a 15% cap while maintaining rewards programs. Trump proposed the cap during the 2024 election, but hasn't mentioned it since. However, politicians like Sen. Josh Hawley and Sen. Bernie Sanders have introduced similar bills. The banking industry strongly opposes rate caps, arguing they could harm business models.
WORDS: 799 - MOVED: 09/04/2025 9:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:51e378f1d7bb29ed904e15e170ba3f89&mediaType=text
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US--POWERBALL JACKPOT
Powerball jackpot jumps to $1.7 billion after another night without a big winner
SUMMARY: The Powerball jackpot has jumped to an eye-popping $1.7 billion after yet another drawing passed without a big winner. The numbers selected Wednesday were: 3, 16, 29, 61 and 69, with the Powerball number being 22. Since May 31, there have been 41 straight drawings without a big winner. The next drawing will be Saturday night, with the prize expected to be the third-largest in U.S. lottery history. Powerball tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
WORDS: 200 - MOVED: 09/04/2025 9:13 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:04433409fcf927590fbec599d806e252&mediaType=text
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US--AP POLL-EDUCATION-SCHOOL TRANSPORTATION
Moms' careers and personal time are hit hard by school drop-off demands, a poll finds
SUMMARY: A new poll finds many parents are struggling to balance work and school transportation for their kids. The AP-NORC/HopSkipDrive survey shows more than a third of parents have missed work to take their kids to school. About 11% have even lost jobs due to school transportation issues. Lower-income families are hit hardest, with 40% of those earning under $100,000 a year reporting negative impacts. Mothers often bear the brunt, with 68% driving their kids, compared with 57% of fathers. The findings highlight the challenges parents face without reliable school transportation options.
WORDS: 1231 - MOVED: 09/04/2025 8:56 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6d50d1773007ad0436c4ac09b4617efe&mediaType=text
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UNEMPLOYMENT BENEFITS
Applications for US jobless benefits rise but remain in a healthy range
SUMMARY: The number of Americans seeking jobless benefits rose modestly last week, a sign that employers are still retaining workers even as the economy has showed signs of slowing. Applications for unemployment benefits for the week ending Aug. 30 rose by 8,000 to 237,000, the Labor Department reported Thursday. That's more than the 231,000 new applications economists were expecting. Weekly applications for jobless benefits are seen as a proxy for layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since the U.S. began to emerge from the COVID-19 pandemic nearly four years ago.
WORDS: 453 - MOVED: 09/04/2025 8:51 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3aafc6833c96dd2d9d39a3f39117bc49&mediaType=text
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US--PHILANTHROPY-NEURODIVERSITY-ALLIANCE
These neurodivergent students are helping each other build more inclusive schools
SUMMARY: A peer-to-peer movement of neurodivergent youth is hitting campuses this fall to build more inclusive spaces together. Known as the Neurodiversity Alliance, they've increased the number of schools reached from 60 to more than 600 in just the past year. The alliance's ranks include many distinct learning differences such as autism, ADHD, dyslexia, dyscalculia and dysgraphia. Yet they are united by the shared experience of "masking," or hiding their identities' traits to gain acceptance in educational or professional environments designed without them in mind. As their visibility grows with rising diagnoses and greater post-pandemic awareness, the nonprofit hopes to instill a sense of liberation through mentorship and self-advocacy.
WORDS: 1275 - MOVED: 09/04/2025 8:33 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:15bdbb49ce538a60562a2adc7a2d86ae&mediaType=text
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US--MEDIA-BESHEAR-PODCAST
Kentucky Gov. Andy Beshear goes national with podcast, the hot format for aspiring politicians
SUMMARY: SiriusXM is giving a national boost to Kentucky Gov. Andy Beshear's podcast, announcing it will begin distributing it and host Beshear for a regular call-in show on the satellite radio network. Beshear joins California Gov. Gavin Newsom as a potential 2028 Democratic presidential candidate who's also a podcast host. It's a reflection of the format's growing importance as a media tool for politicians, which President Donald Trump illustrated with his various podcast appearances during his 2024 Republican campaign. Hosting a show takes things one step further and may join or replace soft-focus biographies or wonky books as a way for aspiring politicians to increase their visibility.
WORDS: 726 - MOVED: 09/04/2025 6:52 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d7ca37ffcb06b0e054467b3f16b65cce&mediaType=text
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US-TRANSGENDER FEDERAL EMPLOYEES-ABRIDGED
Transgender federal employees say they face fear and discrimination under Trump
SUMMARY: The Trump administration since January has moved to reverse years of legal and policy gains for transgender Americans, from stripping government websites of "gender ideology" to reinstituting a ban on transgender service members in the military. The Associated Press interviewed 10 transgender and gender nonconforming government employees across federal agencies who spoke about their workplace experiences since President Donald Trump regained office. They described their fear, grief, frustration, and distress working for an employer that rejects their identity. Trump began targeting transgender and nonbinary people in January by issuing a series of executive orders in the name of protecting spaces designated for women and girls.
WORDS: 1019 - MOVED: 09/04/2025 6:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:196aaf36247512e4f134f4b15d632644&mediaType=text
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US-TRANSGENDER FEDERAL EMPLOYEES
Transgender federal employees say they face fear and discrimination under Trump
SUMMARY: The Trump administration since January has moved to reverse years of legal and policy gains for transgender Americans, from stripping government websites of "gender ideology" to reinstituting a ban on transgender service members in the military. The Associated Press interviewed 10 transgender and gender nonconforming government employees across federal agencies who spoke about their workplace experiences since President Donald Trump regained office. They described their fear, grief, frustration, and distress working for an employer that rejects their identity. Trump started targeting transgender and nonbinary people in January by issuing a series of executive orders in the name of protecting spaces designated for women and girls.
WORDS: 1483 - MOVED: 09/04/2025 6:18 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:c877da2487ca439a5a438b97b58799a6&mediaType=text
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CAR--FORD RACING-REBRAND
Ford Racing: A new era for America's race team
SUMMARY: Ford Motor Company has rebranded its motorsports program to Ford Racing. The announcement was made in a letter to employees by Will Ford, the great-grandson of company founder Henry Ford. The rebranding aims to link road and race operations and develop performance vehicles. The new logo features the stylized Ford in white lettering inside a blue oval, with "RACING" in bold blue underneath. The change will be implemented immediately, with the first Ford Racing production vehicle debuting in January. Ford Racing plans to compete at major events like F1, Dakar, and Daytona, emphasizing innovation and performance.
WORDS: 487 - MOVED: 09/04/2025 6:06 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:dc4bcec8c02c6de7bfb03e87672a6cd7&mediaType=text
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CB--JAMAICA-ELECTION
Jamaican Prime Minister Andrew Holness elected to a third term as main opposition candidate concedes
SUMMARY: Jamaican Prime Minister Andrew Holness has secured a third term following a tight race on an island shaken by corruption, inequity and economic concerns. Preliminary results early Thursday showed that Holness' Jamaica Labor Party won at least 34 seats, while Mark Golding's opposition People's National Party secured at least 29 seats. Golding conceded the election in a brief speech. The Jamaica Progressive Party and the United Independents' Congress were also in the running. Nine independent candidates also were registered to contest the election in various constituencies. A total of 63 seats were up for grabs in Jamaica's House of Representatives.
WORDS: 758 - MOVED: 09/04/2025 12:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:66ff9dd2eb8464b7f6a63f684e2189cd&mediaType=text
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FBN--GIANTS-KOCH-MINORITY STAKE
Koch family agrees to buy a 10% stake in the NFL's New York Giants, AP source says
SUMMARY: The Koch family has agreed to purchase a 10% stake of the NFL's New York Giants, a person familiar with the deal tells The Associated Press. The person spoke to the AP on condition of anonymity because the deal must be approved by owners. Bloomberg was first to report the transaction at a valuation of $10 billion for the storied franchise. That price would top the $6.05 billion Josh Harris' group paid to buy the Washington Commanders from former owner Dan Snyder in 2023. The Mara and Tisch families remain the Giants' majority owners.
WORDS: 236 - MOVED: 09/04/2025 12:01 a.m. EDT
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