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.

Wall Street steadies after its slide as banks recover some of their losses

SUMMARY: The U.S. stock market is steadying, at least for now. The S&P 500 edged down by 0.1% in early trading Friday. The Dow Jones Industrial Average rose 91 points, and the Nasdaq composite slipped 0.3%. Bank stocks rose after several reported stronger profit for the latest quarter than analysts expected. That helped steady the group, a day after stocks across the industry tumbled on worries about potentially bad loans. Stocks have been erratic this week, with big swings after President Donald Trump threatened higher tariffs on China last week. Trump has since told Fox News, though, that such high tariffs are not sustainable.

WORDS: 613 - MOVED: 10/17/2025 12:53 a.m. EDT

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After billions in failed big bets, funders and schools are turning to this small education nonprofit

SUMMARY: Leslie Cornfeld launched the National Education Opportunity Network, or NEON, to address educational inequality. After working with New York City Mayor Michael Bloomberg and President Obama's education secretaries, she noticed that low-income students rarely attended top universities. In 2019, with funding from the Carnegie Corporation, she started NEON to bring elite university courses to non-elite high schools. Over five years, NEON has offered 60 college courses to more than 40,000 students in 33 states. The nonprofit aims to reach 1 million students within a decade, providing college-level education to those who need it most.

WORDS: 1254 - MOVED: 10/17/2025 9:07 a.m. EDT

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Ford recalls more than 290,000 vehicles in US due to issue with rearview camera system

SUMMARY: Ford is recalling more than 290,000 vehicles in the U.S. because the rearview camera system may not display images properly in certain lighting conditions, which could increase the risk of a crash. The recall includes certain 2020-2022 F-250 SD, F-350 SD, and F-450 SD vehicles.

WORDS: 192 - MOVED: 10/17/2025 8:40 a.m. EDT

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American Express profits surge 16% in Q3, driven by wealthy card members

SUMMARY: American Express reports a 16% increase in third-quarter profits, driven by higher card spending, especially among its wealthiest members. On Friday, the company announced earnings of $2.9 billion, up from $2.51 billion a year ago. Earnings per share rose to $4.14, beating analysts' expectations. AmEx recently refreshed its Platinum Card, adding perks and raising the annual fee to $895. Despite increased competition, customer demand remains strong, with 500,000 requests for the new card finish in three weeks. Average spending per card rose 5% to $6,387. AmEx now expects full-year earnings per share between $15.20 and $15.50.

WORDS: 344 - MOVED: 10/17/2025 8:09 a.m. EDT

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Meta adds parental controls for AI-teen interactions

SUMMARY: Meta is adding parental controls to kids' interactions with artificial intelligence chatbots -- including the ability to turn off one-on-one chats with AI characters altogether. However, parents won't be able to turn off Meta's AI assistant. Meta says the AI assistant will "will remain available to offer helpful information and educational opportunities, with default, age-appropriate protections in place to help keep teens safe." Parents who don't want to turn off chats with all AI characters will also be able to block specific characters.

WORDS: 336 - MOVED: 10/17/2025 6:11 a.m. EDT

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Louisiana judge orders review of Gulf Coast liquefied natural gas facility's climate change impacts

SUMMARY: A Louisiana judge has tossed out a key permit for a liquefied natural gas facility that won approval from President Donald Trump's administration. The judge ordered the state review how the facility's planet-warming emissions would affect surrounding Gulf Coast communities vulnerable to sea-level rise and extreme weather. Earlier this month, 38th Judicial District Court Judge Penelope Richard vacated Commonwealth LNG's coastal use permit on the grounds that state environmental regulators did not take these issues into account in Cameron Parish. Commonwealth LNG said it was disappointed in the ruling. Louisiana's attorney general, meanwhile, has vowed to appeal.

WORDS: 761 - MOVED: 10/16/2025 7:19 p.m. EDT

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US rejects bid to lease coal from public lands in Utah as sales in western states fall flat

SUMMARY: U.S. officials have rejected a mining company's bid for more than 6 million tons of coal beneath a national forest in Utah. It's the third proposed coal sale from public lands in the West to fall through this month despite President Donald Trump's efforts to boost production of the fuel. The Interior Department says it received a single bid for two tracts of federal coal near central Utah's Skyline Mine and that it did not meet the requirements of a law that requires companies to pay fair market value for coal from public lands. The department last week rejected a bid for 167 million tons of coal in Montana, then indefinitely postponed an even larger sale in Wyoming.

WORDS: 774 - MOVED: 10/16/2025 2:08 p.m. EDT

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US stocks drop on worries about banks

SUMMARY: U.S. stocks slumped after another turbulent day of trading. The S&P 500 fell 0.6% Thursday after erasing a morning gain. The Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite sank 0.5%. Bank stocks led the way on worries about loans they've made. Zions Bancorp. tumbled after saying it's charging off $50 million in loans. Western Alliance Bancorp dropped after saying it has sued a borrower, alleging fraud. The question is whether such hiccups are one-offs or a signal of something larger threatening the banking industry. The 10-year Treasury yield fell below 4%.

WORDS: 880 - MOVED: 10/16/2025 12:56 a.m. EDT

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Canadians set aside contempt for tariffs and Trump rhetoric for the love of the Toronto Blue Jays

SUMMARY: Many Canadians have been boycotting the U.S. since the Trump administration started threating Canada's economy and sovereignty with tariffs and heated political rhetoric. But the current American League Championship Series appears to have led to a geopolitical thaw, made possible by Canada's fervent Toronto Blue Jays fans as they root for their country's only MLB team to compete against the Seattle Mariners, as well as the deep Pacific Northwest ties that bind British Columbia and Washington state. There's been a precipitous drop in visits and tourism for the U.S. from the world's longest international border all year long, but some Canadians are making an exception for the playoffs.

WORDS: 1168 - MOVED: 10/16/2025 3:20 p.m. EDT

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How major US stock indexes fared Thursday, 10/16/2025

SUMMARY: Stocks slumped after another turbulent day of trading. The S&P 500 fell 0.6% Thursday after erasing a morning gain. The Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite sank 0.5%. Bank stocks led the way on worries about loans they've made. Zions Bancorp. tumbled after saying it's charging off $50 million in loans. Western Alliance Bancorp dropped after saying it has sued a borrower, alleging fraud. The question is whether these issues are one-offs or a symptom of something larger threatening the banking industry. The 10-year Treasury yield fell below 4% and the price of gold rose 2.5%.

WORDS: 269 - MOVED: 10/16/2025 4:23 p.m. EDT

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Average long-term US mortgage rate slips to 6.27%, nearing a low for 2025

SUMMARY: The average rate on a 30-year U.S. mortgage declined again this week, easing to just above its lowest level this year. The average long-term mortgage rate slipped to 6.27% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.44%. The latest dip brings the average rate to just above where it was four weeks ago after a string of declines brought down home loan borrowing costs to their lowest level since early October 2024. Mortgage rates are influenced by several factors, from the Federal Reserve's interest rate policy decisions to bond market investors' expectations for the economy and inflation.

WORDS: 658 - MOVED: 10/16/2025 12:02 p.m. EDT

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During troubled times in news industry, 168-year-old Atlantic thrives with newspaper-magazine hybrid

SUMMARY: Jeffrey Goldberg has bold goals: "We want The Atlantic to be the greatest writer's collective on the planet," the magazine's editor-in-chief said. During troubled times for the news industry, a publication that started in 1857 is a success story. It is growing in staff and circulation -- particularly since Goldberg's startling story earlier this year of finding himself inadvertently added to a group chat of the nation's leaders texting about a military strike. The Atlantic is also experimenting with an online newspaper-magazine hybrid, trying to bring magazine-style writing and depth to major stories. Another Goldberg goal: "We're trying to be part of the conversation every single day of the year."

WORDS: 1179 - MOVED: 10/16/2025 11:53 a.m. EDT

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Giorgio Armani group names luxury veteran and longtime manager Giuseppe Marsocci as new CEO

SUMMARY: The Armani fashion house has appointed Giuseppe Marsocci as its new CEO following the death of its founder last month. Marsocci, who's 61, has been with Armani for 23 years in top roles both in Italy and abroad. He takes the lead at a crucial time for the iconic fashion empire. Giorgio Armani instructed his heirs to sell a 15% minority stake in the business, with options for companies like LVMH and L'Oreal. Marsocci's appointment was unanimously proposed by the Armani Foundation. He acknowledged the challenges of his new role and pledged continuity with Armani's style.

WORDS: 399 - MOVED: 10/16/2025 11:50 a.m. EDT

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Nestlé cuts 16,000 jobs as part of an intensifying cost-cutting campaign

SUMMARY: Nestlé is cutting 16,000 globally as the Swiss food giant looks to trim costs and continue with its turnaround efforts. Nestlé, which makes Nescafé drinks, Purina pet food and other products, said Thursday that the job cuts will take place over the next two years. It is raising its savings target to 3 billion Swiss francs ($3.76 billion) by the end of 2027, up from a previous target of 2.5 billion Swiss francs ($3.13 billion).

WORDS: 429 - MOVED: 10/16/2025 7:59 a.m. EDT

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