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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TESLA-STOCK-MUSK-TRUMP
SUMMARY: Shares of Tesla tumbled 8% at the opening bell Monday as the feud between CEO Elon Musk and Trump reignited over the weekend. Musk, once a top donor and ally of Trump, announced that he was forming a third political party in protest over the Republican spending bill that passed late last week. Musk has been highly critical of the bill, which he said would kill jobs and bog down burgeoning industries.
WORDS: 286- MOVED: 07/07/2025 10:39 a.m. EDT https://apnews.com/article/tesla-stock-evs-trump-musk-feud-496967841ef31b6ccaa74ba6a59da8a5
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US-MED--OBESITY TREATMENTS-ACCESS
Wegovy and Zepbound prices fall, but access to the obesity drugs still isn't guaranteed
SUMMARY: Prices are falling for the popular obesity treatments Wegovy and Zepbound, but steady access to the drugs remains challenging. Reduced monthly costs for uninsured patients still amount to around $500. That can put the drugs out of reach for many. Coverage also continues to shift or restrict how patients get prescriptions. Doctors say the patchy coverage and costs force them to get creative in treating patients. But there's hope that prices for the injectable drugs may fall more in the future, especially once pill versions enter the market.
WORDS: 929 - MOVED: 07/07/2025 10:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:142e234c16df4443e8f66c27d01f44e2&mediaType=text
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FINANCIAL MARKETS
Wall Street opens lower as Trump's tariff deadline nears
SUMMARY: Wall Street is opening lower as the Trump administration steps up pressure on trading partners to make trade deals before a Wednesday deadline. The S&P 500 was down 0.3% in early trading Monday. The Dow Jones Industrial Average fell 96 points, or 0.2%. The Nasdaq composite was down 0.5%. Tesla tumbled as the feud between CEO Elon Musk and President Donald Trump reignited over the weekend. Musk, once a top donor and ally of Trump, said he would form a third political party in protest over the Republicans' spending bill that passed last week.
WORDS: 400 - MOVED: 07/07/2025 10:04 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b1fecf1457f908c1845669fa5349b14b&mediaType=text
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ML--MIDEAST-WARS-YEMEN
Yemen's Houthi rebels claim attack on bulk carrier Magic Seas, which is now sinking in the Red Sea
SUMMARY: Yemen's Houthi rebels have claimed an attack on the bulk carrier Magic Seas which is now sinking in the Red Sea. Houthi military spokesman Brig. Gen. Yahya Saree made the claim Monday in a prerecorded statement. He acknowledged the Houthis attacked the Liberian-flagged and Greek-owned vessel with bomb-carrying drone boats and missiles. The attack Sunday left the Magic Seas ablaze in the Red Sea. Its 22 crew abandoned the ship and were safely recovered. Saree said the Houthis attacked the vessel as the ship belonged to a company it said continued to do port calls in Israel.
WORDS: 1021 - MOVED: 07/07/2025 9:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:15edf75586540201f63b7c33348fb737&mediaType=text
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US--IMMIGRATION-FARMWORKERS-VERMONT
A Vermont dairy farm was raided. The mixed messages from Washington since then have increased fears
SUMMARY: The arrest of eight Vermont dairy farmers in April sent shock waves throughout New England's agriculture industry, and fears haven't abated since then given the mixed messages from the White House. President Donald Trump last month paused arrests at farms, restaurants and hotels. But less than a week later, the assistant secretary of the Department of Homeland Security said worksite enforcement would continue. Such uncertainty is causing problems in big produce-producing states like California. But it's also affecting small states like Vermont, where dairy is as much a part of the state's identity as its famous maple syrup. More than half Vermont's farmland is dedicated to dairy and dairy crops, and the state produces nearly two-thirds of all the milk in New England.
WORDS: 632 - MOVED: 07/07/2025 7:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:aea999892ad6c752a360990e1c071527&mediaType=text
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ML--SYRIA-ELECTRICITY SANCTIONS
With sanctions lifted, Syria looks to solar power as more than a patchwork fix to its energy crisis
SUMMARY: Syria is working to rebuild its energy sector after years of civil war and crippling sanctions. The country has suffered severe electricity shortages, with only those who can afford them using costly solar panels or generators. Recent U.S. sanctions relief has opened doors for investment, including a $7 billion energy deal involving gas turbines and a large solar farm. Officials say these projects could meet much of Syria's energy needs. Efforts are also underway to repair war-damaged infrastructure. The United Nations plans to develop a renewable energy strategy to address energy poverty. Syrians hope these changes will bring affordable, reliable electricity soon.
WORDS: 994 - MOVED: 07/07/2025 1:35 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d82a815e6b711b4e90a69ab77b539a21&mediaType=text
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