Business News Digest

MARI YAMAGUCHI

July 23, 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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ALPHABET-RESULTS

DESCRIPTION: Google's corporate parent will release its latest quarterly results, providing a snapshot on how the company is faring while navigating a pivotal transition to artificial intelligence technology and the threat of being ordered to break up its internet empire to undercut its illegal monopoly in online search.

UPCOMING: By 07/23/2025 4:30 p.m. EDT, Text

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TRUMP-AI

DESCRIPTION: President Donald Trump will speak at an AI summit in Washington.

SENT: UPDATES UPCOMING: By 07/23/2025 4:30 p.m. EDT, Video, LiveVideo, Text, Photo

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EARNS-CSX

DESCRIPTION: CSX railroad will release its second-quarter earnings report on Wednesday afternoon as rumors swirl about the possibility of a merger involving two of the major railroads. It was reported last week that Union Pacific is in merger discussions with Norfolk Southern. By Business Writer Josh Funk. With: AP file photo of a CSX train.

UPCOMING: By 07/23/2025 5:00 p.m. EDT, Photo, Text

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TESLA-RESULTS

DESCRIPTION: Tesla releases financial results for the second quarter after the market closes.

UPCOMING: By 07/23/2025 6:00 p.m. EDT, Photo, Text

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US HAWAII VACATION RENTALS

DESCRIPTION: TENTATIVE: A Maui County Council committee is expected to vote on the mayor's bill to ban vacation rentals in apartment zones. The mayor proposed the legislation after the 2023 Lahaina wildfire exacerbated Maui's housing shortage and activists camped out in front of oceanfront hotels to demand changes. The bill, if enacted, would mandate the conversion of about half of Maui's legal short-term rentals into long-term housing. The vote is by the Housing and Land Use Committee but since all nine council members are on the committee, it will indicate how the council's final vote may go.

UPCOMING: By 07/23/2025 7:00 p.m. EDT, Photo, Text

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NEW AND DEVELOPING

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EU--BRITAIN-TRADING SCANDAL

UK Supreme Court quashes convictions of 2 bank traders after deciding their trials were unfair

WORDS: 571 - MOVED: 07/23/2025 10:26 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:bd71ca38eaa6970951932c19bcdbe4d6&mediaType=text

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HOME SALES

US home sales fall in June as prices soar to new heights

SUMMARY: Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and national median sales prices hit unprecedented levels. Existing home sales fell 2.7% last month from May to a seasonally adjusted annual rate of 3.93 million units, the National Association of Realtors said Wednesday. Sales were flat compared with June last year. The latest home sales fell short of the 4.01 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 24th consecutive month. The national median sales price rose 2% in June from a year earlier to $435,300, an all-time high for the month of June.

WORDS: 455 - MOVED: 07/23/2025 10:15 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:64769d50ce9c16dee9ffb90c01735071&mediaType=text

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US--ARTIFICIAL INTELLIGENCE-TEENS

Teens say they are turning to AI for friendship

SUMMARY: Teenagers are increasingly turning to AI for advice, emotional support and decision-making, according to a new study. Common Sense Media found that over 70% of teens have used AI companions, with many finding the interactions as satisfying as talking to real friends. Experts warn this trend could harm social skills and mental health, as teens rely on AI for validation and avoid real-world challenges. Concerns also include inappropriate content and the lack of regulation of AI platforms. Researchers emphasize that while AI can assist, it should not replace human connections, especially during adolescence, a critical time for social and emotional development.

WORDS: 1199 - MOVED: 07/23/2025 10:07 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9ce59a2b250f3bd0187a717ffa2ad21f&mediaType=text

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US--MEME STOCKS

Krispy Kreme, GoPro and Beyond Meat surge as the latest meme stock revival rolls on

SUMMARY: Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest beaten down companies to see a share price revival are Krispy Kreme, GoPro and Beyond Meat. Each company is surging Wednesday. Wall Street defines a meme stock as a stock that gains significant popularity and trading volume, primarily driven by social media hype and online communities, rather than the company's fundamental financial performance. The latest batch of meme stocks have been mostly struggling to notch profits. The momentum can be short-lived, as shown by Wednesday declines in Kohl's and Opendoor Technologies, which had been soaring.

WORDS: 673 - MOVED: 07/23/2025 10:02 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9b61a6a555451d49483666d8a9f5ba43&mediaType=text

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CLIMATE-UN CHIEF

AP Exclusive: UN chief says market forces point the way to curbing climate change

SUMMARY: United Nations Secretary-General Antonio Guterres says money, not just science, makes the case for curbing climate change. Guterres in an exclusive interview with The Associated Press highlights the falling costs of renewable energy like solar and wind. Guterres warns that investments in fossil fuels could become financial losses. He stresses the urgency of reducing emissions to limit global warming to 1.5 degrees Celsius, a goal set by the Paris Agreement. While some scientists believe that target is unattainable, Guterres says he still has hope. Still, he acknowledges the worsening climate crisis and said it's connected to global issues like poverty and instability.

WORDS: 884 - MOVED: 07/23/2025 9:54 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e8a1b2365883be9781a72446302fc421&mediaType=text

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FINANCIAL-MARKETS

US stocks tick toward another record following a US-Japan trade deal

SUMMARY: U.S. stocks are ticking toward another record following a trade deal between the world's No. 1 and No. 4 economies. The S&P 500 rose 0.4% Wednesday, coming off its latest all-time high. The Dow Jones Industrial Average added 232 points, and the Nasdaq composite gained 0.3%. Stocks rallied even more in Tokyo, where the Nikkei 225 jumped 3.5% after President Donald Trump announced a deal that would place a 15% tax on imports from Japan. That's lower than the 25% rate Trump had earlier threatened. Big U.S. companies continued to offer updates about how Trump's tariffs are affecting them, and Treasury yields rose.

WORDS: 781 - MOVED: 07/23/2025 9:51 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:d051e9cd9d0e15b912219f604a1e1064&mediaType=text

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EU--BRITAIN-APPLE-GOOGLE

UK regulator seeks special status for Apple and Google that could mandate changes for Big Tech

SUMMARY: Britain's antitrust watchdog proposes labeling Google's and Apple's mobile ecosystems with "strategic market status." This designation would require changes to their business practices to boost competition. On Wednesday, the Competition and Markets Authority (CMA) said its investigations found the two companies dominate Britain's mobile market, with 90-100% of devices running on their platforms. Concerns include unpredictable app reviews, inconsistent app store rankings, and high in-app purchase fees. The CMA outlined roadmaps for fairer practices, including transparent app reviews. Google criticized the proposal as unwarranted. The regulator is seeking feedback and will decide by October 22.

WORDS: 360 - MOVED: 07/23/2025 9:46 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:89f589afaeaa0c42ce521c6a35275e8c&mediaType=text

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AS--JAPAN-POLITICS

Japanese leader Ishiba vows to remain despite speculation, says he will focus on new US trade deal

SUMMARY: Japanese Prime Minister Shigeru Ishiba has vowed to remain in power to oversee the implementation of a new Japan-U.S. tariff agreement. There has been media speculation and growing calls for him to resign after a historic defeat of his governing party. Ishiba met with heavyweights from his Liberal Democratic Party and three ex-prime ministers at party headquarters on Wednesday. He told reporters afterward that they didn't discuss his resignation or a new party leadership contest. Ishiba is under increasing pressure to bow out after the LDP and junior coalition partner Komeito lost their majority in Sunday's election in the 248-member upper house. The result has shaken his grip on power.

WORDS: 683 - MOVED: 07/23/2025 9:14 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:91eb9471bcacbe6f05b4e22675db59da&mediaType=text

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EU--TURKEY-BRITAIN-EUROFIGHTER

Turkey and Britain sign preliminary deal for Eurofighter Typhoon jets

SUMMARY: Turkey and Britain have signed a preliminary deal for the sale of Eurofighter Typhoon jets to Turkey. The agreement, signed Wednesday during a defense fair in Istanbul, marks progress in Turkey's efforts to modernize its air fleet. Turkey has been seeking 40 Eurofighter jets, built by a British, German and Italian consortium, to boost its air combat capabilities. Germany initially opposed the sale but later reversed its stance. Turkish officials say negotiations on pricing and technical terms are ongoing. Meanwhile, Turkey is also developing its domestic KAAN fighter jet and seeking to rejoin the U.S.-led F-35 program.

WORDS: 285 - MOVED: 07/23/2025 8:53 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:87ee732e14a0597a048750df13e02f02&mediaType=text

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US--TRUMP-AI

From tech podcasts to policy: Trump's new AI plan leans heavily on Silicon Valley industry ideas

SUMMARY: President Donald Trump is unveiling an "AI Action Plan," shaped by Silicon Valley tech leaders who supported his campaign. The plan being released Wednesday is expected to focus on boosting artificial intelligence technology exports, streamlining permits for energy-intensive data centers, and countering perceived liberal bias in AI systems, dubbed "woke AI." Opponents of the Trump administration's AI agenda argue it prioritizes the needs of Big Tech over people. Nearly 100 groups have come together to sign a resolution calling for a "People's AI Action Plan" that would preserve safeguards for the American public.

WORDS: 1132 - MOVED: 07/23/2025 8:05 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:3763ca207561a3fe8b35327f9ce7ca73&mediaType=text

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BEHIND THE WHEEL-EV ROAD TRIPPING

Edmunds: Five expert tips to make cross-country EV driving easy

SUMMARY: Driving an electric vehicle across the country might sound like a nightmare, but it's easier than you think with the right planning and by having access to as many fast charging stations as possible. To help you with your next cross-country EV trip, the experts at Edmunds have provided six tips that will help make planning your trip easier and help make your trip smoother and less stressful. We discuss route planners, which type of charging stations to use, ways to shorten your trip and best practices for your long journey.

WORDS: 814 - MOVED: 07/23/2025 6:19 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c8be73c9b79e0afe5701b0e93139ada8&mediaType=text

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AS--ASIA TRUMP TARIFFS

Flurry of trade deals offers relief for some Asian countries, while others wait

SUMMARY: U.S. President Donald Trump has announced a flurry of trade deals that will relieve some pressure on companies and consumers from sharply higher tariffs on imports from Japan and a handful of other Asian countries. A deal with China is pending. U.S. Treasury Secretary Scott Bessent says an Aug. 12 deadline might be postponed again to allow more time for talks. The deals offer as little as a 1% reduction in Trump's originally proposed tariffs for the Philippines and keep higher tariffs on key exports of steel and aluminum. Economists say the tariffs inevitably will dent growth in Asia and the world.

WORDS: 846 - MOVED: 07/23/2025 4:19 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:55bcd9a06126686d8d2ed4897398719e&mediaType=text

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US--BE WELL-ARTIFICIAL INTELLIGENCE-TEENS-TIPS

These tips from experts can help your teenager navigate AI companions

WORDS: 781 - MOVED: 07/23/2025 12:15 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:74b83faead96998f405773153101744e&mediaType=text

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