AP Business
Business and economic news from the Associated Press.
Latest stories
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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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Wall Street holds steady after the Fed hikes interest rates as oil prices ease
The U.S. stock market is holding steady after the Federal Reserve hiked interest rates for the first time in three years. The S&P 500 rose 0.3% Wednesday and was on track for just its second gain in the last eight days. The Dow Jones Industrial Average dipped 13 points, and the Nasdaq composite g...
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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 will meet 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 starting hourly wage for full-time operations employees by $1 to $20
NEW YORK (AP) — Online behemoth Amazon said it's increasing the starting hourly wage for its U.S. full-time operations employees like warehouse workers by $1 to $20.
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What to know about Ed Sheeran's tour after Macklemore was cut and artists dropped out
Ed Sheeran's tour of North and South America has been roiled by the decision this week to drop Macklemore as an opener because of the rapper's onstage pro-Palestinian comments. Since then, all of Sheeran's other supporting acts have dropped out, including a group that performs with Sheeran during...
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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.
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EU chief Ursula von der Leyen says she wants Canada to become the bloc's 1st associate member
European Commission President Ursula von der Leyen has proposed opening a path for Canada to become the EU’s first associate member. She made the announcement Wednesday during her State of the European Union address. Canadian Prime Minister Mark Carney received a standing ovation from European la...
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EU chief proposes bloc-wide social media ban for kids under 13
European Commission President Ursula von der Leyen has proposed banning children under 13 from accessing social media, online games and chatbots. “I am aware that many perceive the power of Big Tech as overwhelming and impossible to roll back. I disagree,” said the EU executive on Wednesday durin...
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Building damaged by strikes collapses in Gaza, killing 21 as perilous living conditions persist
GAZA CITY, Gaza Strip (AP) — A building damaged by Israeli strikes collapsed suddenly in Gaza City early Wednesday, killing at least 21 people in their sleep, including 11 children, in a disaster that forced rescuers to dig through the rubble with bare hands.
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Saudi Arabia calls attempted attack on Mecca a 'red line' as Iran-backed Houthis deny they did it
Muslim nations are condemning an attempted drone attack on Mecca as Saudi Arabia says that Islam's holiest city is a “red line” for the kingdom. The Iran-backed Houthi rebels in neighboring Yemen have been attacking Saudi Arabia and its shipping but deny targeting Mecca. Saudi Arabia, the world’s...
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Philippine lawmaker pleads not guilty to taking kickbacks in flood control projects
MANILA, Philippines (AP) — A Philippine lawmaker and former speaker of the House of Representatives pleaded not guilty Wednesday to charges alleging he pocketed millions of dollars in kickbacks from flood control projects, his lawyer said.
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Hong Kong unveils its first 5-year plan that broadens the city's identity beyond finance
HONG KONG (AP) — Hong Kong's leader on Wednesday unveiled the city's first five-year plan in a politically symbolic step that echoes Beijing's approach to development, pushing to broaden Hong Kong's identity beyond international finance to also encompass technology and higher education.
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Building collapse in Gaza kills at least 21 people, and other Mideast developments
A building housing displaced Palestinian families has collapsed in Gaza City, killing at least 21 people, including 11 children. The structure was heavily damaged during the Israel-Hamas war and there had been warnings about its safety. People remained missing or trapped under the rubble followin...
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Former Muslim rebels lead results in first election held in southern Philippine region
MANILA, Philippines (AP) — Candidates from two rival parties associated with a former rebel group led the first elections in a predominately Muslim region in the southern Philippines, official results showed Wednesday.
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Egypt's wind power push, tied to manufacturing, offers lessons for Nigeria and Africa
NAIROBI, Kenya (AP) — Egypt is betting that building wind turbines at home can help it build a renewable-energy industry, positioning it as a template for Africa’s push for renewable-energy industrialization.
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Wall Street holds steady ahead of the Fed's decision as oil prices and bond yields ease
Wall Street is holding steady as it waits to hear from the Federal Reserve. The S&P 500 rose 0.4% Wednesday and was on track for just its second gain in the last eight days. The Dow Jones Industrial Average dipped 26 points, and the Nasdaq composite gained 0.7%. Stocks got help from falling oil p...
