AP Business
Business and economic news from the Associated Press.
Latest stories
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China’s porcelain city carries centuries-old heritage to a new generation
China’s Jingdezhen porcelain sites were inscribed on UNESCO’s World Heritage List in 2026. The city has been a center of Chinese porcelain-making for centuries, with techniques and traditions passed down through generations of artisans. Its porcelain heritage also reflects religious and spiritual...
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Todd Boehly and Mark Walter sell Chelsea shares, Clearlake now has full control
LONDON (AP) — Todd Boehly and fellow co-owner Mark Walter have sold their stakes in Chelsea, handing full control to Clearlake Capital, the English Premier League club said on Wednesday.
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House passes bill aimed at addressing impact of data centers on energy costs
WASHINGTON (AP) — The House overwhelmingly approved a bill Wednesday that aims to have artificial intelligence data centers pay for their substantial energy needs as lawmakers used what was expected to be their final day in Washington before the midterm elections to address a growing voter concern.
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Investment firm leader gets 11 years for Ponzi scheme that bilked dozens, including Travis Kelce
ST. LOUIS (AP) — The creator of a Texas-based investment company has been sentenced to 11 years in federal prison for his role in a Ponzi scheme that prosecutors say bilked 64 victims, including Kansas City Chiefs tight end Travis Kelce.
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Divisions emerge in the tech industry over calls for a coordinated AI slowdown
Fears about out-of-control artificial intelligence and suggestions to hit the brakes on the technology's development aren't new, but they have recently found new life as warnings about rogue AI systems causing mayhem grow louder.
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Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut
The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House.
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Argentine judge orders halt to Falklands oil project as tensions with Britain rise
BUENOS AIRES, Argentina (AP) — An Argentine federal judge on Wednesday ordered British and Israeli companies to stop developing an oilfield off the Falkland Islands, opening a new legal front in the decades-old sovereignty dispute between Argentina and Britain that Argentine President Javier Mile...
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Opening acts drop out of Ed Sheeran's tour one month ahead of Charlotte date
Rapper Macklemore was removed from Ed Sheeran's tour because of onstage pro-Palestinian comments. Sheeran said it was the tour promoter's decision.
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House holds billionaire Leon Black in contempt of Congress over Epstein investigation
The House has approved a resolution holding billionaire Leon Black in contempt of Congress after he defied the Oversight Committee’s subpoenas in its investigation into disgraced financier Jeffrey Epstein. The swift action, without a formal roll call vote, refers the matter to the Justice Departm...
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On shores of Lake Ontario, the Toronto International Film Festival bristles at Trump's trade war
TORONTO (AP) — The 51st Toronto International Film Festival has unspooled against a backdrop of rising tensions between the U.S. and Canadian governments, though it would be hard to tell it from the convivial atmosphere on the ground.
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Miami Hurricanes going back to Nike in deal that will exceed $200M, AP source says
CORAL GABLES, Fla. (AP) — Teams from the University of Miami will be wearing Nike apparel again starting in July 2027, a person familiar with the agreement said Wednesday.
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Fed rate hike likely means more expensive credit cards and mortgages, but savers may rejoice
The Federal Reserve just raised the cost of borrowing money — bad news for borrowers, good news for savers. The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The move will likely make it even costlier to borrow for homes, aut...
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US stocks slip after the Fed hikes interest rates and hints more increases may be on the way
U.S. stocks slipped after the Federal Reserve hiked its main interest rate for the first time in three years and suggested more increases may be ahead as it tries to get the nation’s high inflation under control. The S&P 500 fell 0.4% Wednesday after giving up a modest gain from earlier in the da...
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Canada’s Carney and Britain’s Burnham take first meeting to Everton football match
MANCHESTER, England (AP) — Canadian Prime Minister Mark Carney met his new British counterpart, Andy Burnham, for the first time Wednesday at the home of the soccer club they both support — before watching Everton play together.
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Amazon increases minimum starting hourly wage for full-time core operations employees
NEW YORK (AP) — Online behemoth Amazon said it's increasing the minimum starting hourly wage for its U.S. full-time core operations employees to $20 ahead of the crucial holiday shopping season.
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Opening acts drop out of Ed Sheeran's tour one month ahead of Charlotte date
Rapper Macklemore was removed from Ed Sheeran's tour because of onstage pro-Palestinian comments. Sheeran said it was the tour promoter's decision.
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Tiny patients, big fight: NICU parents win leave in 2 states and push for more
Parents with newborns in intensive care units have long faced a difficult but overlooked plight: Any parental leave they might have does not take into account the days or even months their newborns spend in intensive care. Many choose to return to work immediately rather than use up leave they wi...
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WHO sees 'encouraging signs' in Congo Ebola fight, but warns cases in one eastern region are surging
GENEVA (AP) — The head of the U.N. health agency is hailing “encouraging signs” in the fight against an Ebola outbreak in one part of eastern Congo, while warning that case counts are rising fast in another as officials race to tamp down the virus.
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Zuckerberg distances Meta from calls for a coordinated approach on an AI slowdown
Meta CEO Mark Zuckerberg said it’s up to each AI company to make sure its technology is safe, distancing himself from calls by rival companies for a coordinated slowdown in the development of advanced artificial intelligence.
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Retail sales rise a better-than-expected 1.2% in August after shoppers pulled back spending in July
NEW YORK (AP) — Consumers may be griping about higher prices at the pump and elsewhere, but they keep spending, helping to power the economy, according to the latest government snapshot.
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Sudan gold mine collapse kills at least 82 people with many more missing
A local official and activists say that a gold mine collapse in Sudan has killed at least 82 people. Survivors said Wednesday that the tragedy happened at the al-Zara gold mine in the town of Nuhud in West Kordofan province. The area is controlled by the paramilitary Rapid Support Forces. Survivo...
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Armani taps Dario Vitale for its Emporio and accessories lines a year after death of Giorgio Armani
ROME (AP) — The Armani fashion group on Wednesday named Dario Vitale creative director of Emporio Armani and Giorgio Armani Accessories, a first step in the group's creative reorganization a year after the death of founder Giorgio Armani.
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Russian drone strike on a passenger bus in Ukraine kills 5 people and wounds at least 7 others
A Russian drone strike on a passenger bus in southern Ukraine has killed five people and wounded at least seven others. President Volodymyr Zelenskyy called the attack an “atrocity” and part of ongoing strikes against Ukrainian infrastructure. The attack happened Wednesday in the Nikopol district...
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Honda HR-V vs Kia Seltos, a budget SUV Edmunds comparison
Crossovers have become a popular choice for buyers who want the practicality of an SUV without the size and expense of a larger vehicle. For many shoppers, that means finding a vehicle that’s easy to live with, offers enough room for everyday duties, keeps fuel costs in check, and provides the ve...
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UK inflation rises to 5-month high, further pressuring Bank of England to raise rates this year
LONDON (AP) — Inflation in the United Kingdom rose to a five-month high as the aftershocks of the Iran war continued to ratchet up fuel prices, official figures showed Wednesday, an increase that will pressure the Bank of England to hike interest rates again over coming months.
