New Biotech Offering Targets $426B Rare Disease Market

The rare disease drug space is growing fast-and so is investor interest. With exclusivity, pricing power and major M&A moves, the rare disease space is getting interesting. This company has the science and the experience.

AP Business News Digest

Associated Press
October 02, 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.

US--Tesla-Sales

Tesla reports surprise increase in car sales in the third quarter

SUMMARY: Tesla reported a surprise increase in sales in the third-quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk's foray into right-wing politics avoided buying his company's cars and even protested at some dealerships. Sales rose to 497,099, compared with with 462,890 in the same period last year.

WORDS: 358 - MOVED: 10/02/2025 9:33 a.m. EDT

https://newsroom.ap.org/detail/Teslareportssurpriseincreaseincarsalesinthethirdquarter/d8e6e088a1851a694e0ebcf36524af3e/text

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DoorDash-Deliveroo-Acquisition

DoorDash finalizes its $3.9 billion acquisition of UK's Deliveroo

SUMMARY: Food delivery app DoorDash said it has finalized its acquisition of U.K. rival Deliveroo, with the boards of both companies approving the nearly $4 billion deal first announced in the spring. DoorDash's interest in Deliveroo became public in late April and a week later the San Francisco company confirmed it had agreed to buy Deliveroo for $3.9 billion in cash. The deal, which comes following the approval of a British court, will help DoorDash to expand its business in Europe, Asia and the Middle East. DoorDash shares were unchanged before the bell Thursday, near $268 each. They are up close to 60% year-to-date.

WORDS: 342 - MOVED: 10/02/2025 10:00 a.m. EDT

https://newsroom.ap.org/detail/DoorDashfinalizesitsbillionacquisitionofUKsDeliveroo/95304216e6ca06ecae2f7b3108fbc89f/text

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Financial Markets

US stocks drift near their records as tech keeps rising and Wall Street keeps ignoring DC's shutdown

SUMMARY: U.S. stocks are drifting around their records. The S&P 500 rose 0.3% Thursday, coming off its latest all-time high. The Dow Jones Industrial Average added 78 points, and the Nasdaq composite climbed 0.5% and was heading toward its own record. Technology stocks once again led the way, this time after OpenAI announced partnerships with South Korean companies for its Stargate artificial-intelligence infrastructure project. Stock indexes also rose across much of Europe and Asia. Treasury yields held relatively steady in the bond market after the U.S. government's shutdown delayed a weekly report on unemployment claims.

WORDS: 577 - MOVED: 10/02/2025 12:31 a.m. EDT

https://newsroom.ap.org/detail/USstocksdriftneartheirrecordsastechkeepsrisingandWallStreetkeepsignoringDCsshutdown/a08c07307c4483a3583fe2aaa1609637/text

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US--PepsiCo-Artificial Colors

Gatorade and Cheetos are among the Pepsi products getting a natural dye makeover

SUMMARY: Pepsi has a new challenge: Keeping products like Gatorade and Cheetos vivid and colorful without the artificial dyes that U.S. consumers are increasingly rejecting. PepsiCo announced in April that it would accelerate a planned shift to natural colors in its foods and beverages. Right now, around 40% of the company's products contain synthetic dyes. Some products like Tostitos and Lay's chips will stop using synthetic dyes later this year. But the company says it can take two or three years to identify natural sources, test them and bring them to market. PepsiCo hasn't committed to meeting the Trump administration's goal of phasing out synthetic dyes by the end of 2026.

WORDS: 1205 - MOVED: 10/01/2025 6:28 p.m. EDT

https://newsroom.ap.org/detail/GatoradeandCheetosareamongthePepsiproductsgettinganaturaldyemakeover/5d9cfbee948be51f2339b8410ea55341/text

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Be Well-Working Well-Mini Meditations

Mini-meditations are a way to foster peace of mind at work

SUMMARY: The idea of meditating can be intimidating to beginners. Beginners may find the prospect of trying it at work embarrassing. But there are ways bring short and inconspicuous meditation sessions into the workday. Many spiritual traditions approach the practice by focusing on breathing to calm the mind. When thoughts pop up, imagine letting them go. Techniques like picturing yourself succeeding at challenges or mentally scanning your body for pain, tension or other sensations are ways of meditating that can be done almost anywhere. Experienced practitioners say meditating before or at work helps them maintain focus, sit still and reduce performance anxiety and stress. And they say there's no right or wrong way to do it.

WORDS: 1239 - MOVED: 10/02/2025 6:39 a.m. EDT

https://newsroom.ap.org/detail/Minimeditationsareawaytofosterpeaceofmindatwork/4416f6b276b53640936f4477727a200e/text

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US--Warren Buffett's Last Deal?

Berkshire Hathaway to pay $9.7 billion for OxyChem, potentially Buffett's last big deal

SUMMARY: Berkshire Hathaway is buying Occidental Petroleum's chemical division for $9.7 billion in what may be one of the last big deals of Warren Buffett.Buffett wasn't mentioned anywhere in materials released by Berkshire Hathaway on Thursday, seemingly signaling the passing of the torch to Greg Abel. Berkshire's cash pile has been steadily growing for years to hit $344 billion because Buffett has been unable to find any major acquisitions at attractive prices since completing the $11.6 billion acquisition of Alleghany Insurance in 2022. OxyChem will fit nicely within Berkshire alongside Lubrizol, which Buffett bought in 2011 for $9 billion, but Berkshire generally doesn't consolidate its subsidiaries, so OxyChem will likely continue operating independently.

WORDS: 557 - MOVED: 10/02/2025 7:22 a.m. EDT

https://newsroom.ap.org/detail/BerkshireHathawaytopaybillionforOxyChempotentiallyBuffettslastbigdeal/63c65c006f314f166eee9617cf1252f0/text

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US--Government Shutdown-Economic Data

The federal shutdown will cut off vital economic data, including Friday's jobs report

SUMMARY: The government shutdown will deprive policymakers and investors of economic data vital to their decision-making at a time of unusual uncertainty about the direction of the U.S. economy. The absence will be felt almost immediately, as the government's monthly jobs report scheduled for release Friday will likely be delayed. If the shutdown is short-lived, it won't be very disruptive. But if the release of economic data is delayed for several weeks or longer, it could pose challenges, particularly for the Federal Reserve. The Fed is grappling with where to set a key interest rate at a time of conflicting signals, and the Fed may have little new data to analyze before its next meeting later this month.

WORDS: 782 - MOVED: 10/01/2025 2:54 p.m. EDT

https://newsroom.ap.org/detail/ThefederalshutdownwillcutoffvitaleconomicdataincludingFridaysjobsreport/7606871d40d0b8b9e58ca42672e22112/text

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Financial Markets-Box

How major US stock indexes fared Wednesday, 10/1/2025

SUMMARY: U.S. stocks rose to more records as Wall Street still doesn't seem to care much about the latest shutdown of the U.S. government. The S&P 500 climbed 0.3% Wednesday and topped its all-time high set last week. The Dow Jones Industrial Average added 0.1% to its record set the day before, and the Nasdaq composite rose 0.4%. Treasury yields sank in the bond market after a report from ADP Research suggested that hiring outside the government may have been much weaker last month than economists expected. A report on U.S. manufacturing was also weaker than expected.

WORDS: 263 - MOVED: 10/01/2025 4:19 p.m. EDT

https://newsroom.ap.org/detail/HowmajorUSstockindexesfaredWednesday/1a8b51ce50df2148d25cdee9a2ef32eb/text

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Financial Markets

Wall Street sets more records, but bond yields drop following discouraging data on the job market

SUMMARY: U.S. stocks rose to more records as Wall Street still doesn't seem to care much about the latest shutdown of the U.S. government. The S&P 500 climbed 0.3% Wednesday and topped its prior all-time high set last week. The Dow Jones Industrial Average added 0.1% to its own record set the day before, and the Nasdaq composite rose 0.4%. Treasury yields sank in the bond market after a report from ADP Research suggested that hiring across the country may have been much weaker last month than economists expected. A report on U.S. manufacturing was also weaker than expected.

WORDS: 802 - MOVED: 09/30/2025 11:30 p.m. EDT

https://newsroom.ap.org/detail/WallStreetsetsmorerecordsbutbondyieldsdropfollowingdiscouragingdataonthejobmarket/b4bddbf826a5eabee1113f62aeb5e25e/text

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US--AOL Dial-Up-Shutting Down

AOL's dial up internet takes its last bow, marking the end of an era

SUMMARY: It's official: AOL's dial-up internet has taken its last bow. The company confirmed it would discontinue the service on Tuesday, September 30th, citing routine evaluations of its offerings. Dial-up is no longer advertised on AOL's website, and former help pages related to the service are unavailable. AOL, formerly America Online, introduced many households to the World Wide Web for the first time when its dial-up service launched decades ago. The creaky door to the internet was characterized by a once-ubiquitous series of beeps and buzzes heard over the phone used to connect your computer online. Eventually, broadband and wireless offerings rose to dominance -- but some consumers still use other dial-up offerings today.

WORDS: 660 - MOVED: 10/01/2025 11:00 a.m. EDT

https://newsroom.ap.org/detail/AOLsdialupinternettakesitslastbowmarkingtheendofanera/08162912737f2fb221f10ba87ce5fc41/text

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US--Gold-Prices

Gold prices soar to new records amid US government shutdown

SUMMARY: As uncertainty deepens amid the U.S. government's first shutdown in almost seven years, the gold frenzy continues to climb to new heights. The going price for New York spot gold hit a record $3,858.45 per troy ounce  -- the standard for measuring precious metals -- as of market close Tuesday, ahead of the shutdown beginning overnight. And futures continued to climb on Wednesday, dancing with the $3,900 mark as of midday trading. Gold sales can rise sharply when anxious investors seek "safe havens" for parking their money. Before Wednesday, the asset -- and other metals, like silver -- have seen wider gains over the last year, particularly with President Donald Trump's barrage of tariffs plunging much of the world into economic uncertainty.

WORDS: 728 - MOVED: 10/01/2025 1:21 p.m. EDT

https://newsroom.ap.org/detail/GoldpricessoartonewrecordsamidUSgovernmentshutdown/0e74346a95a663e4e6bf0abb64cbda5d/text

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US--Walmart-Food-Reformulation

Walmart plans to remove artificial colors and other food additives from store brands by 2027

SUMMARY: Walmart says it plans to remove synthetic dyes and 30 other food additives from its store brands sold in the United States by January 2027. The move announced by the the nation's largest retailer on Wednesday amounts to an acknowledgment that American consumers and the U.S. government under President Donald Trump are paying attention to what goes into packaged foods. Walmart says its goal would affect about 1,000 products, including salty snacks, baked goods, power drinks, salad dressings and frosting. Several of the ingredients on Walmart's removal list, however, already are banned, not widely used or have not been used in the U.S. food supply for decades.

WORDS: 1073 - MOVED: 10/01/2025 8:17 a.m. EDT

https://newsroom.ap.org/detail/Walmartplanstoremoveartificialcolorsandotherfoodadditivesfromstorebrandsby/cc64e8343c1a8149758efad2d5b61973/text

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US--Trump-Lithium-Mine

US takes a stake in another company, this one is operating a massive lithium mine in Nevada

SUMMARY: The U.S. government is taking a minority stake in Lithium Americas, a company that is developing one of the world's largest lithium mines in northern Nevada. The Department of Energy will take a 5% equity stake in the miner, which is based in Vancouver. It will also take a 5% stake in the Thacker Pass lithium mining project, a joint venture with General Motors. Thacker Pass is considered crucial in reducing U.S. reliance on China for lithium, a critical material used to produce the high tech batteries used in cell phones, electric vehicles and renewable energy. Both Republicans and Democrats support the project and narrowing the production gap. China is the world's largest lithium processor.

WORDS: 500 - MOVED: 10/01/2025 7:57 a.m. EDT

https://newsroom.ap.org/detail/UStakesastakeinanothercompanythisoneisoperatingamassivelithiummineinNevada/d76ca97db7573c4dcc4a35c2f117caf7/text

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<END>

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