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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NEW AND DEVELOPING

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PLASTIC-POLLUTION-TREATY

New draft of plastic pollution treaty would not limit plastic production

SUMMARY: Negotiators working on a treaty to address the global crisis of plastic pollution are discussing a new draft of the text that would not limit plastic production or address chemicals used in plastic products. The biggest issue of the talks has been whether the treaty should impose caps on producing new plastic or focus instead on things like better design, recycling and reuse. Powerful oil and gas-producing nations and the plastics industry oppose production limits. They want a treaty focused on better waste management and reuse.

WORDS: 240 - MOVED: 08/13/2025 10:29 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:65e7fd917d893e8541b9ba278db4d944&mediaType=text

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US--AMAZON-GROCERIES

Amazon expands its perishable delivery service, putting pressure on traditional grocers

SUMMARY: Amazon is now rolling out a service where its Prime members can order their blueberries and milk at the same time as their batteries and other basic items. The online juggernaut said Wednesday that customers in more than 1,000 cities and towns now have access to fresh groceries with its free Same-Day Delivery on orders over $25 for Prime members, with plans to reach over 2,300 locations by year-end. The company said that if an order doesn't meet the minimum, members can still choose Same-Day Delivery for a $2.99 fee. For customers without a Prime membership, the service is available with a $12.99 fee, regardless of order size.

WORDS: 157 - MOVED: 08/13/2025 10:17 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:834dbc5d25eb01caafcf37f09aa308ad&mediaType=text

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US--TRUMP-NOMINEE-LABOR

Trump's nominee to oversee jobs inflation data faces shower of criticism

SUMMARY: President Donald Trump has selected E.J. Antoni, chief economist at the conservative Heritage Foundation, to be the next commissioner at the Labor Department's Bureau of Labor Statistics. Antoni's nomination has been met with a cascade of criticism from other economists, from across the political spectrum. His selection threatens to bring a new level of politicization to what for decades has been a nonpartisan agency widely accepted as a producer of reliable measures of the nation's economic health. While many former Labor Department officials say it it unlikely Antoni will be able to distort or alter the data, particularly in the short run, he could change the currently dry-as-dust way it is presented.

WORDS: 1075 - MOVED: 08/13/2025 10:13 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:52aa395adc2072aa3494b88d01623f51&mediaType=text

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CLIMATE CHOICES-WRONG CHOICES

People often make wrong climate choices, a study says. One surprise is owning a dog

SUMMARY: It turns out many Americans misjudge which personal behaviors contribute most to climate change. For example, a recent study by the National Academy of Sciences found that Americans overestimate the benefit of a smaller action like recycling and underestimate the benefit of a bigger action like choosing not to take a plane flight. Experts say that's because people are more likely to assign more weight to actions that are easier to imagine, and that are more often discussed or highlighted. The study also found that when participants were exposed to accurate information about which actions were most effective, they were more committed to allocating time to actions that had more impact.

WORDS: 997 - MOVED: 08/13/2025 10:12 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a85ef43fc63c666e16f29e8ca1e43beb&mediaType=text

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FINANCIAL MARKETS

Wall Street climbs again as a worldwide rally comes back around

SUMMARY: U.S. stocks are ticking higher after a rally spurred by hopes for lower U.S. interest rates wrapped around the world. The S&P 500 rose 0.4% Wednesday, coming off its latest all-time high. The Dow Jones Industrial Average climbed 259 points, while the Nasdaq composite added 0.5% to its record set the day before. Stocks got a lift from easing Treasury yields, as expectations build that the Federal Reserve will cut its main interest rates for the first time this year at its next meeting in September. Stocks leaped by more than 1% in several Asian markets, while European indexes rose more modestly.

WORDS: 715 - MOVED: 08/13/2025 9:54 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:73a3ac1beb306de02617ce7d6a836f89&mediaType=text

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US--POLL-ALCOHOL CONSUMPTION

Why many Americans are rethinking alcohol, according to a new Gallup poll

SUMMARY: After years of being told that red wine was good for heart health, more Americans appear to be heeding warnings that even moderate alcohol consumption can be unhealthy. A Gallup poll released Wednesday shows fewer Americans are reporting they drink alcohol as concerns about health risks rise. About half of U.S. adults now believe moderate drinking is harmful, up from 28% in 2015. The poll shows this shift is largely driven by young adults. But older adults are increasingly wary, too. The poll finds 54% of U.S. adults report drinking alcohol, the lowest since the late 1980s. Even those who drink are consuming less.

WORDS: 934 - MOVED: 08/13/2025 8:39 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:091aa28c3375d30d728d48c628a9023a&mediaType=text

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US-GE APPLIANCES

GE Appliances shifts more production to US as part of a $3 billion investment

SUMMARY: GE Appliances plans to shift production of refrigerators, gas ranges and water heaters out of China and Mexico as part of a more than $3 billion investment to expand its U.S. operations. The investment announced Wednesday ranks as the second-largest in the Louisville-based company's history. GE Appliances says it expects to add more than 1,000 jobs and modernize its U.S. plants in the next five years. Most of its appliance production is in the United States, and the company's announcement will transfer more work to its domestic plants. It says the first phase of the investment will begin at plants in Kentucky, Alabama, Georgia, Tennessee and South Carolina.

WORDS: 763 - MOVED: 08/13/2025 8:16 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c492e8a0a660538ae8e2c775f1eb0525&mediaType=text

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US--GILDAN-HANESBRANDS

Canada's Gildan Activewear is buying HanesBrands for $2.2 billion

SUMMARY: Gildan Activewear is buying HanesBrands for $2.2 billion, giving the basic apparel maker access to brands including Hanes and Maidenform. The companies put the transaction's valued at about $4.4 billion when including debt. HanesBrands shareholders will receive 0.102 common shares of Gildan and 80 cents in cash for each share of HanesBrands common stock.

WORDS: 325 - MOVED: 08/13/2025 8:07 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:57b14618d7611f4a644af4150049502e&mediaType=text

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CN--AIR-CANADA-FLIGHT-ATTENDANTS

Air Canada to begin cancelling flights ahead of possible strike by flight attendants

SUMMARY: Air Canada says it will begin cancelling flights starting Thursday to allow an orderly shutdown of operations with a complete cessation of flights for the country's largest airline by Saturday as it faces a potential work stoppage by its flight attendants. The union representing around 10,000 Air Canada flight attendants has signaled its intent to strike starting on Saturday. Flight attendants have issued a 72-hour strike notice and could walk off the job at 12:58 a.m. ET Saturday if a deal isn't reached.

WORDS: 264 - MOVED: 08/13/2025 7:42 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:b3a3fe8652441d52086ce4e40ff67fcd&mediaType=text

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TAPPING HOME EQUITY

Homeowners turn to cash-out refinancing to take advantage of big gains in home equity

SUMMARY: Homeowners are cashing in on years of home equity gains, even as mortgage rates remain stubbornly high. Cash-out refinancing hit a nearly three-year high from April to June, according to ICE Mortgage Technology. In a cash-out refinance, homeowners borrow more than they owe and pocket the difference, often for debt consolidation or home improvements. On average, homeowners pulled out $94,000, raising their monthly payments by $590 and interest rate by 1.45 percentage points. Rising home values have made equity tempting, with total homeowner equity reaching $17.8 trillion. However, slowing home price growth in some areas has led to a decline in tappable equity.

WORDS: 566 - MOVED: 08/13/2025 6:30 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a4cf2e131f7b4ad6224d1f5e363ed78c&mediaType=text

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BEHIND THE WHEEL-TAHOE VS ARMADA

Edmunds SUV test: The new Nissan Armada takes a run at the Chevrolet Tahoe

SUMMARY: Car buyers seeking stout full-size SUVs might want to consider the Chevrolet Tahoe and Nissan Armada. Muscular, brawny and truck-based, the Tahoe and Armada offer strength and rigidity that most modular car-based SUVs can't match. Both are updated for 2025 with updated styling and new technology features. Edmunds' automotive experts compared them to find out which one is the better buy.

WORDS: 827 - MOVED: 08/13/2025 6:23 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:d4cfc9435f883a388b9d5a52526b8769&mediaType=text

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AS--CHINA-EU-SANCTIONS

China targets 2 Lithuanian banks in response to new EU sanctions

WORDS: 198 - MOVED: 08/13/2025 3:59 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:cc564700a742eca388b4d6497f9a772c&mediaType=text

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AS--JAPAN-MCDONALD'S-POKEMON

McDonald's Japan's Pokemon card Happy Meals promotion comes to an unhappy end

SUMMARY: Fast-food chain McDonald's Japan has canceled a Happy Meal campaign that came with coveted Pokemon cards. The company apologized after resellers rushed to buy the meals and then discarded the food, leaving trash outside stores. The meals meant for children came with a toy, such as a tiny plastic Pikachu and a Pokemon card. Japanese media reports said the meals sold out in one day. The company said it was not adequately prepared and that the situation went against its philosophy of providing a "fun dining experience for children and families." Unusually large crowds were seen flocking to McDonald's stores when the meals with Pokemon cards went on sale.

WORDS: 317 - MOVED: 08/13/2025 3:29 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e75b7f0213b8f73a0e07eb282b33e6d9&mediaType=text

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AS-VIETNAM-TIGER ECONOMY

Vietnam wants to be the next Asian tiger and it's overhauling its economy to make it happen

SUMMARY: Vietnam is launching its biggest economic overhaul in a generation, aiming to become Asia's next "tiger economy." The Communist Party calls it a "new era," with reforms focused on tech, green energy, infrastructure, and unleashing private-sector growth. For the first time, the ruling Communist Party is calling Vietnam's private sector the most important force in the economy. Policies now favor local firms, offering better access to credit, contracts, and overseas expansion. But challenges loom: an aging workforce, climate change, and pressure from President Donald Trump on Vietnam's trade surplus with the U.S. The country is racing to escape what economists call the middle-income trap as typhoons and a shrinking Mekong Delta are already hurting growth.

WORDS: 1313 - MOVED: 08/13/2025 1:21 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:067331203c59c61dbd6d40c04aa5d91d&mediaType=text

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AF--NIGERIA-PLASTICS POLLUTION

One of the world's most polluted cities has banned single-use plastics. It's not so easy

WORDS: 556 - MOVED: 08/13/2025 1:08 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:5e6358f2d8197445a45a1fee8dfff7da&mediaType=text

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