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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MIDDLE EAST CONFLICT-ABUNDANT OIL
DESCRIPTION: With the world awash in excess oil, the U.S. and Israel's recent military escalation against Iran -- one of the world's biggest oil producers -- hasn't caused a spike in energy prices that would usually go hand-in-hand with any conflict in the Middle East. A surge in renewable energy use, the mainstreaming of electric vehicles and more efficient gas-powered cars have reduced the demand for oil globally, likely softening the blow to consumers.
UPCOMING: By 06/24/2025 4:00 p.m. EDT, Text, Photo
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NEW AND DEVELOPING
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US--NTSB-BOEING
NTSB meets on door plug investigation of terrifying Alaska Airlines flight
SUMMARY: National Transportation Safety Board Chair Jennifer Homendy said the heroic actions of the crew aboard Alaska Airlines flight 1282 ensured everyone survived the terrifying incident last year when the door plug panel blew out shortly after takeoff in January of 2024. But Homendy said the incident never should have happened if Boeing and the Federal Aviation Administration had done enough to ensure the safety of the Boeing 737 Max plane. The investigation has already revealed that bolts were never replaced after the door plug was removed during a repair. Homendy said Boeing's new CEO has made many improvements in safety since last summer but more needs to be done.
WORDS: 843 - MOVED: 06/24/2025 10:24 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:721493c5e64081145aab21f2cf3fabcd&mediaType=text
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US--PFAS-WISCONSIN
Wisconsin Supreme Court delivers win for environmentalists in fight over 'forever chemicals'
SUMMARY: The Wisconsin Supreme Court has delivered a victory for environmentalists in the battle over the regulation of "forever chemicals" known as PFAS. The court ruled Tuesday that state regulators can force landowners to clean up emerging pollutants such as PFAS before they are officially designated as hazardous substances. The ruling from the liberal-controlled court is a defeat for the state's powerful group representing businesses and manufacturers, which had argued the state couldn't enforce regulations on substances before they were officially designated as hazardous. It is the latest development in a yearslong battle involving regulators, environmentalists, politicians and businesses over how to deal with PFAS contamination.
WORDS: 840 - MOVED: 06/24/2025 10:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:336d4b0395c3cd2cd1d75b86e896bfa9&mediaType=text
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CONSUMER CONFIDENCE
Americans' view of the economy slides in June, wiping out gains from previous month
SUMMARY: Americans' view of the economy worsened in June, wiping out much of the previous month's gain which followed a string of declines that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago. The Conference Board said Tuesday that its consumer confidence index slid to 93 in June, down 5.4 points from 98.4 last month. A measure of Americans' short-term expectations for their income, business conditions and the job market fell 4.6 points to 69. That's well below 80, the marker that can signal a recession ahead.
WORDS: 141 - MOVED: 06/24/2025 10:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1ef56ac698f194203848df1968567c85&mediaType=text
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CLIMATE CHOICES-AFTER ENERGY STAR
If Energy Star goes away, finding energy efficient appliances will be harder. Here are some tips
SUMMARY: The Environmental Protection Agency has hinted at plans to shut down its Energy Star offices. That means the sticker that serves as an energy efficiency seal-of-approval could become less reliable or go away. That would make it more difficult for consumers to find the appliances that will save them energy costs or that will qualify for tax incentives. But it won't be impossible. There are still experts, tools and programs designed to help consumers find the refrigerators, washing machines and water heaters that will save on money and emit fewer greenhouse gases than other appliances. Here are some tips to find energy efficient appliances, no matter what happens to the program.
WORDS: 932 - MOVED: 06/24/2025 10:13 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1cb75d046ddc722cea73f895b82186eb&mediaType=text
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US--MEDIA-STARTING ANEW
Life on the other side: Refugees from 'old media' flock to the promise of working for themselves
SUMMARY: A new world of podcasts, newsletters and websites has expanded media in recent years, and provided a lifeline to legacy media refugees who wanted -- or were forced to -- strike out on their own. Megyn Kelly, Jennifer Rubin, Bari Weiss and Mehdi Hasan are among the barons of this new world with sites like the Contrarian and Zeteo, fueled by the explosive growth of YouTube and Substack in providing a landing place for new ideas. For journalists going on their own, the chance to be their own boss is a plus. Fair warning: experts say to succeed you'll have to work very hard, be adaptable and hope the public doesn't reach a saturation point.
WORDS: 1385 - MOVED: 06/24/2025 10:06 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:076dfb132475aa42c3e4ebe81f63eb9a&mediaType=text
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AF--SOUTH AFRICA-TOWNSHIP MECHANICS
Township mechanics in South Africa unite to turbocharge their small businesses
SUMMARY: Independent car mechanics in South Africa's townships have long worked outside of the country's vehicle repair industry. They are often cut out by the lack of official spare parts available to them because of the buying power of large urban car repair chains. Now, a cooperative is bringing township mechanics together to give them a fairer slice of the business. It fits into South Africa's broader aim to empower small businesses in the many townships and informal settlements that exist on the edges of major towns and cities. It's an effort to spark growth and create jobs in areas where one-third of the country's population live.
WORDS: 882 - MOVED: 06/24/2025 10:06 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0a896cb34e59489296460299b3a5117c&mediaType=text
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FINANCIAL MARKETS
Oil prices drop sharply, and Wall Street nears its record as stocks rally worldwide
SUMMARY: Oil prices are dropping further, and U.S. stocks are pulling closer to their all-time high on hopes that Israel's war with Iran will not damage the global flow of crude. The S&P 500 rose 0.7% Tuesday and got back within 1.2% of its record. The Dow Jones Industrial Average added 277 points, and the Nasdaq composite climbed 1%. Oil prices fell more than 4% and are below where they were before the Israel-Iran conflict began. That could give the Federal Reserve more leeway to cut interest rates to help the economy, but its chair was circumspect in prepared testimony he's set to give Congress.
WORDS: 810 - MOVED: 06/24/2025 10:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d5713bc60bcc433702b215076d2d35fe&mediaType=text
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US--FOOD LABEL WARNINGS-TEXAS
Texas will put warning labels on some foods, but its additives list has inaccuracies
SUMMARY: A Texas law promoting the Trump administration's "Make America Healthy Again" agenda requires first-ever warning labels on certain foods like chips and candies. It also mispresents the status of some ingredients that would trigger the action. The law signed by Republican Gov. Greg Abbott requires foods made with any of over 40 dyes and additives to have labels starting in 2027 saying they contain ingredients "not recommended for human consumption" in Australia, Canada, the European Union or the U.K. But at least a dozen of the targeted additives are authorized in those countries -- or are already restricted in the U.S.
WORDS: 1112 - MOVED: 06/24/2025 9:45 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:481258c546e6f123b90771c6168ca32e&mediaType=text
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US--TRUMP-CRYPTO INDUSTRY
A look at the major players in the crypto industry and their ties to Trump
SUMMARY: President Donald Trump took office in January pledging to "make America the crypto capital of the world" and has since harnessed wide swaths of the federal government to bolster the industry. All the while, the Republican president has been raking in huge sums of money for his family's business. By some estimates, crypto ventures now account for nearly 40% of the Trump Organization's $2.9 billion net worth. But Trump's championing of the crypto industry has been just as big a boon for many of the industry's top names. Many have seen their profits and political standing soar while federal investigations of potential wrongdoing have largely fallen away.
WORDS: 1068 - MOVED: 06/24/2025 9:43 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3b88647472efd8a5fe7b6e98c9a1442f&mediaType=text
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US--FEDERAL RESERVE-POWELL
Powell says Fed can wait to reduce interest rates as Trump demands cuts
SUMMARY: The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell says, a stance directly at odds with President Donald Trump's calls for immediate cuts. Powell said Tuesday that the economy is in a good position and that the Fed needs to learn more before adjusting rates. Powell is facing two days of what could be tough grilling on Capitol Hill, as Trump has repeatedly urged the Fed to reduce borrowing costs.
WORDS: 804 - MOVED: 06/24/2025 9:12 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:df5b9ac09f0cd283797c6c294a98da9c&mediaType=text
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US--TRUCKERS-ENGLISH ONLY
Truckers fear job loss as new English language rules take effect
SUMMARY: Brushing up on English has taken on new urgency for truck drivers in the United States. President Donald Trump issued an executive order in April saying that commercial truckers who don't read and speak the language proficiently would be considered unfit for service. Federal guidelines for applying the order are going into effect. They call for enhanced roadside inspections to decide if truckers can reply to questions and directions in English, as well as understand highway traffic signs and message boards. Some truckers worry they may lose their jobs if they make a mistake or speak with a heavy accent.
WORDS: 1275 - MOVED: 06/24/2025 8:22 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:92c733048e85c34b1822cc4403eaf262&mediaType=text
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EU--BRITAIN-GOOGLE
UK antitrust watchdog says Google may have to offer rival search options
SUMMARY: The U.K.'s antitrust watchdog says Google could be forced to let British users choose whether to use rival search services, as it proposes using new digital regulations to boost competition. The Competition and Markets Authority said its "priority measures" include requiring Google to present users with "choice screens" when they use key products like the Chrome browser and Android mobile operating system. The watchdog is seeking to give Google a "strategic market status" label under the new U.K. digital rules. Google said the move presents clear challenges to critical areas of our business in the U.K. The watchdog has until Oct. 13 to decide.
WORDS: 321 - MOVED: 06/24/2025 7:36 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:88b82623dbaceb10708c95b9130edf01&mediaType=text
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US-ROBOTAXIS-ATLANTA
Waymo's robotaxis to start carrying passengers in Atlanta, expanding Uber partnership
SUMMARY: Waymo's robotaxis will begin carrying passengers through parts of Atlanta Tuesday in an expansion of a partnership with Uber's ride-hailing service that began earlier this year in Austin. The robotaxis will initially cover a 65-square-mile (168,00-square-kilometers) area within the Atlanta market before expanding to a larger stretch. Waymo's driverless march into Atlanta comes just days after Tesla finally launched a limited robotaxi service in Austin, more than five years after CEO Elon Musk brashly promised the electric automaker would quickly overtake Waymo as the leader in autonomous driving technology.
WORDS: 475 - MOVED: 06/24/2025 7:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e8c1d1a379bb14785ec32e97877efd65&mediaType=text
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US--PHILANTHROPY-GIVINGUSA-REPORT
Charitable giving in 2024 was up, according to new Giving USA report
SUMMARY: Charities received $592.5 billion in donations in 2024, a 3.3% increase over 2023, after adjusting for inflation, according to the most recent "Giving USA? report, which takes a comprehensive look at U.S. philanthropy. Only one major cause -- religion -- saw an inflation-adjusted decline in giving. The increase, reported Tuesday, may be small comfort to nonprofits that in 2025 experienced a significant drop in federal funding, more than 20,000 layoffs, increased demand for services, and market uncertainty that has led some donors to pull back. Strong performance by companies, particularly in the tech sector, pushed corporate giving up 6%, after adjusting for inflation. Individual giving was up 5%.
WORDS: 1104 - MOVED: 06/24/2025 7:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:64dec750ce681b11bcf58152f933e7e6&mediaType=text
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AS--CAMBODIA-THAILAND
Cambodia accuses Thailand of escalating tensions with new land crossing restrictions
WORDS: 402 - MOVED: 06/24/2025 6:27 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:c6c983fac5d9d382f292f0aa743b4743&mediaType=text
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MIDEAST WARS-IRAN-US TRAVEL
US strikes on Iran add to global travel disruptions and flight cancellations
SUMMARY: The U.S. entry into Israel's war with Iran has caused travel disruptions to pile up globally. Following unprecedented bombings ordered by President Donald Trump on three Iranian nuclear and military sites over the weekend, Iran on Monday launched a missile attack on U.S. forces at Qatar's Al Udeid Air Base. Qatar had closed its airspace just hours earlier, after both the U.S. and U.K. also urged their citizens to shelter in place there. Airlines have canceled more flights in recent days, with some halting select routes through the middle of the week.
WORDS: 1073 - MOVED: 06/24/2025 6:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:34a75a4aa1d402465e988c610dfdc50a&mediaType=text
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US--WESTERN GOVERNORS
Governors of Western states give mixed reactions to proposed federal land sell-off
SUMMARY: A Republican-sponsored proposal before Congress to mandate the sale of federal public lands is getting a mixed reception from the governors of Western states. Democratic New Mexico Gov. Michelle Lujan Grisham says the approach is problematic in New Mexico because of the close relationship residents have with those public lands. A budget proposal from Utah Republican Sen. Mike Lee would mandate the sale of more than 3,125 square miles of federal lands to state or other entities. It was included recently in a draft provision of the GOP's sweeping tax cut package. Wyoming Gov. Mark Gordon voiced qualified support for plans to tap federal land for development.
WORDS: 431 - MOVED: 06/24/2025 3:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:406c949f2d5df000dba2ed1a9343535a&mediaType=text
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