Business News Digest

DEE-ANN DURBIN

March 17, 2025

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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CLIMATE-GRASS-FED BEEF-EMISSIONS

DESCRIPTION: A new study out Monday finds that even in the most optimistic scenarios, grass-fed beef is no less carbon-intensive than industrial beef. The finding calls into question the frequent promotion of grass-fed beef as a more environmentally friendly option. Still, other scientists say grass-fed beef wins out on other factors like animal welfare or local environmental pollution, complicating the choice for conscientious consumers. By Melina Walling.

UPCOMING: By 03/17/2025 5:00 p.m. EDT, Text, Photo

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NEW AND DEVELOPING

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US--RETAIL SALES

Shoppers increased spending tepidly last month as American anxiety over the economy takes hold

SUMMARY: US shoppers stepped up their spending a just bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the economy mount. Retail sales rose just 0.2% in February, a small rebound after a sharp drop of 1.2% in January, the Commerce Department said Monday. Sales rose at grocery stores, home and garden stores, and online retailers. Sales fell at auto dealers, restaurants, and electronics stores. The small increase suggests Americans may be growing more wary about spending as the stock market has plunged and President Donald Trump's tariff threats and government spending cuts have led to widespread uncertainty among consumers and businesses.

WORDS: 784- MOVED: 03/17/2025 10:01 a.m. EDT

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US--PEPSICO-POPPI

PepsiCo buys prebiotic soda brand Poppi to gain a foothold in functional drinks

SUMMARY: PepsiCo said Monday it's acquiring the prebiotic soda brand Poppi for $1.95 billion. The acquisition gives PepsiCo a fast-growing brand in the popular functional beverage category. PepsiCo said the transaction includes $300 million of anticipated cash benefits, bringing the net purchase price to $1.65 billion. Poppi was developed in 2015 by Allison Ellsworth, who loved soda but was tired of how it made her feel. Ellsworth mixed fruit juice with apple cider vinegar, prebiotics and sparkling water and sold it at farmer's markets. The brand took off in 2018 after an appearance on "Shark Tank."

WORDS: 319 - MOVED: 03/17/2025 9:48 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f1fdb1103b5d8ad6a9e6d8c37e5ab713&mediaType=text

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FINANCIAL MARKETS

Stock market today: Wall Street holds steadier after its manic roller-coaster ride

SUMMARY: U.S. stocks are holding steadier following their scary roller-coaster ride in recent weeks. The S&P 500 rose 0.2% higher in early Monday trading, coming off its fourth straight losing week. The Dow Jones Industrial Average added 98 points, and the Nasdaq composite gained 0.1%. The calm trading may not last long, though, with a decision by the Federal Reserve on interest rates coming later in the week and worries continuing about how President Donald Trump's trade war will affect the economy. A report on U.S. retail sales was weaker than expected, but it may not have been as bad as it seemed on the surface.

WORDS: 610 - MOVED: 03/17/2025 9:42 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:669605bbde01213a2d43ea80ed8af103&mediaType=text

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EU--GERMANY-PERU-CLIMATE CASE

A Peruvian farmer takes German energy giant RWE to court in a fight to hold polluters accountable

SUMMARY: A German court has started hearing a Peruvian farmer's case against major energy company RWE. His lawsuit argues that global warming fueled by the firm's historical greenhouse gas emissions ultimately poses a risk to his home. Experts say the case at the state court in Hamm, in western Germany, could set a significant precedent in the fight to hold major polluters accountable for climate change. RWE, which has never operated in Peru, denies legal responsibility, arguing that climate change is a global issue caused by many contributors.

WORDS: 423 - MOVED: 03/17/2025 9:33 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:82f129269d7e2f98053d68f99f4f11e3&mediaType=text

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AS--HONG KONG-OBIT-LEE SHAU KEE

Hong Kong property developer Lee Shau Kee dies at 97

WORDS: 269 - MOVED: 03/17/2025 9:21 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:62283a6dd86f302ac83bb25e4459c1ce&mediaType=text

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US--FEDERAL RESERVE-LOOKAHEAD

'Stagflation' risk puts Federal Reserve in tricky spot as it meets this week

SUMMARY: The Federal Reserve and its chair, Jerome Powell, are potentially headed to a tough spot as it prepares to meet Tuesday and Wednesday. Inflation improved last month but is still high and tariffs could push it higher. At the same time, ongoing tariff threats as well as sharp cuts to government spending and jobs have tanked consumer and business confidence, which could weigh on the economy and even push up unemployment. The toxic combination of still-high inflation and a weak or stagnant economy is often referred to as "stagflation," a term that haunts central bankers. It is what bedeviled the United States in the 1970s, when even deep recessions didn't kill inflation.

WORDS: 872 - MOVED: 03/17/2025 8:45 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:52113a78265b5316b3f378cab5563dca&mediaType=text

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ML--MIDEAST-WARS-YEMEN-EXPLAINER

What to know about Yemen's Houthi rebels as the US steps up attacks on Iran-backed group

SUMMARY: The United States under President Donald Trump has launched a new campaign of intense airstrikes targeting Yemen's Houthi rebels. This weekend's strikes killed at least 53 people, including children, and wounded others. The campaign is likely to continue, part of a wider pressure campaign by Trump now targeting the Houthis' main benefactor Iran as well. The Houthi rebels had targeted over 100 merchant vessels with missiles and drones, sinking two vessels and killing four sailors, from November 2023 until January of this year. Trump said he wants to reopen Mideast waters affected by their campaign.

WORDS: 1148 - MOVED: 03/17/2025 8:42 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:447f4abb39cc12c7f2f5596f0e33407b&mediaType=text

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US--FOREVER 21-BANKRUPTCY

Mall staple Forever 21 files for bankruptcy protection, again

SUMMARY: Forever 21 has filed for bankruptcy protection for a second time as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies. F21 OpCo, which runs Forever 21 stores, said late Sunday that it will wind down the business in the U.S. under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets. Forever 21 first filed for bankruptcy protection in 2019.

WORDS: 417 - MOVED: 03/17/2025 8:03 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:0c5e9bac07bf184988475a2b57842e08&mediaType=text

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EU--FRANCE-TELEGRAM CEO

Telegram's CEO Durov in Dubai as France continues to investigate criminal activity on messaging app

SUMMARY: Telegram CEO Pavel Durov says that he has travelled from France to Dubai, even as the French authorities continue to investigate criminal activity on his messaging app. Durov revealed his whereabouts in a post on his Telegram channel. He had been detained last year after arriving in Paris, where French authorities handed him preliminary charges for allegedly allowing the platform's use for criminal activity. The French allegations include that Telegram was used for child sexual abuse material and drug trafficking, and that the platform refused to share information or documents with investigators when required by law. In his post, Durov thanked the "investigative judges for letting this happen," and said Telegram "not only met but exceeded its legal obligations."

WORDS: 258 - MOVED: 03/17/2025 7:51 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:421a69e62ca419ff50d48a11fb944187&mediaType=text

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AS--CHINA-ECONOMY

China outlines plans to boost consumer spending as Trump's tariff war threatens exports

WORDS: 654 - MOVED: 03/17/2025 7:35 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:68e92e38c97a97e47fa001673f1724b1&mediaType=text

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EU--BRITAIN-THAMES WATER

Thames Water wins court approval in London for emergency funding deal

WORDS: 330 - MOVED: 03/17/2025 7:33 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:fa1bcf9f4cbb023cb21b1ad770d66582&mediaType=text

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US--TARIFFS-HOMEBUILDING

Tariffs on lumber and appliances set stage for higher costs on new homes and remodeling projects

SUMMARY: Shopping for a new home? Ready to renovate your kitchen or install a new deck? You'll be paying more to do so. The Trump administration's tariffs on imported goods from Canada, Mexico and China -- some already in place, others set to take effect in a few weeks -- are already driving up the cost of building materials used in new residential construction and home remodeling projects. The tariffs are projected to raise the costs that go into building a single-family home by $7,500 to $10,000, by some estimates. The timing of the tariffs couldn't be worse for homebuilders and the home remodeling industry, as this is typically the busiest time of year for home sales.

WORDS: 1277 - MOVED: 03/17/2025 7:06 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:ae55bcae89a8ad78814c3dbce69e435f&mediaType=text

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AS--INDIA-NEW ZEALAND

India and New Zealand look to bolster ties after reviving free trade talks

WORDS: 349 - MOVED: 03/17/2025 5:58 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a3c1515d7b6b07e79fa460f9ef9ee35c&mediaType=text

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US--GREENPEACE-LAWSUIT-NORTH-DAKOTA

Closing arguments set to begin in pipeline company's lawsuit against Greenpeace

SUMMARY: Closing arguments are scheduled to begin in a pipeline company's lawsuit against Greenpeace. The environmental advocacy group says the case, which resumes on Monday, could have consequences for free speech and protest rights and threaten the organization's future. Dallas-based Energy Transfer and its subsidiary Dakota Access alleged defamation, trespass, nuisance and other offenses by Netherlands-based Greenpeace International, its American branch Greenpeace USA and funding arm Greenpeace Fund Inc. The pipeline company is seeking hundreds of millions of dollars. Greenpeace has denied the allegations and says there is no evidence to support them.

WORDS: 410 - MOVED: 03/17/2025 1:00 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:087f75aebca6d7ae9c9cc100e71f78f8&mediaType=text

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