AP Business
Business and economic news from the Associated Press.
Latest stories
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More than 160,000 pounds of meat bearing false USDA inspection labels recalled
More than 83 tons of meat are being recalled across the country because the products were not properly inspected by federal authorities and were shipped out with false inspection stickers. The U.S. Department of Agriculture said Tuesday that the nationwide recall impacts more than 167,000 pounds ...
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New firefighting fund launches but funding gap remains as wildfires worsen worldwide
NEW YORK (AP) — A United Nations report released Thursday shows that there is still a multibillion dollar funding gap for preserving tropical forests, which are key to fighting climate change.
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Chinese auto companies race ahead on EV technology, achieving 5-minute ultrafast charging
HONG KONG (AP) — Chinese electric vehicles’ ultrafast charging is only getting faster.
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ICE is wasting tens of millions of dollars on 'uninformed' detention projects, report finds
U.S. Immigration and Customs Enforcement and other agencies have wasted tens of millions of dollars pursuing ill-conceived plans to rapidly increase detention capacity, and the total will likely rise due to ongoing mismanagement, congressional investigators warned Thursday.
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Mortgage rates climb for 5th straight week, pushing average rate on a 30-year home loan above 7%
The average long-term U.S. mortgage rate rose this week above 7% for the first time since January 2025, the latest affordability setback for prospective homebuyers following a five-week run of rate increases. Mortgage buyer Freddie Mac said Thursday that the weekly average rate on a 30-year fixed...
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New York sues prediction market Polymarket, calling it an unlicensed gambling operation
New York has sued the prediction market Polymarket. It argues that the platform is an unlicensed gambling operation and wants a judge to block the company from operating in the state. Thursday's lawsuit is the latest legal challenge from a state moving to rein in popular betting apps that allow p...
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KFC opens a Texas restaurant to test ideas for reclaiming its fried chicken crown
KFC has been taking a licking from fried chicken rivals like Raising Cane's, but the global fast-food chain has a plan to return to the top of the U.S. pecking order.
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How sweeping job cuts have reshaped life and job prospects in the DC area, according to a new survey
Federal job cuts have deeply affected the Washington, D.C. area, according to a new survey from Gallup and the Greater Washington Community Foundation. Many residents, including those in higher-income households, have faced job losses and financial struggles. The survey shows that about two-third...
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Claims for unemployment benefits drop to 197,000, the lowest since mid-July as layoffs remain rare
Fewer people applied for U.S. unemployment benefits last week, as U.S. jobless claims remain at historically low levels and most Americans enjoy job security. The Labor Department said Thursday that 197,000 people applied for unemployment checks last week, fewest since mid-July and down from a re...
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Starbucks to shutter 250 stores in North America this week in 2nd wave of closings
Starbucks plans to close 250 North American stores later this week. Starbucks Chief Operating Officer Mike Grams said the locations targeted either aren’t delivering acceptable financial results or can’t provide the experience Starbucks wants for customers and employees. The company didn’t say Th...
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Energy Department will spend $2 billion to squeeze more electricity from aging power grid
WASHINGTON (AP) — The Energy Department is set to announce it will spend almost $2 billion to try to squeeze more electricity out of the nation's aging and stressed power grid, as President Donald Trump's administration steps up efforts to avoid blackouts amid skyrocketing energy demand spurred b...
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Ugandans plant trees near national park to keep people out of gorillas’ habitat
BWINDI, Uganda (AP) — In the tangled greenery of a Ugandan national park, mountain gorillas sit among the leaves, calmly carrying on as tourists trek into their forest home.
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Autonomous AI hacks raise thorny questions of legal accountability
WASHINGTON (AP) — The Justice Department has a long history of investigating and prosecuting hackers who break into a private company's network.
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CNN, MS NOW and Politico back at the White House, hours after judge ordered Trump to lift ban
Reporters from CNN, MS NOW and Politico returned to the White House hours after a federal judge temporarily blocked President Donald Trump’s ban of the three news outlets. The judge said early Thursday that the news outlets must have their access restored. But reporters from all three outlets sai...
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Morocco’s Authenticity and Modernity Party leads in provisional election results
CASABLANCA, Morocco (AP) — Morocco’s Authenticity and Modernity Party won the largest number of seats in the country’s parliamentary election, according to provisional results announced by the Interior Ministry early Thursday.
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Hundreds of trucks jam Turkey-Iran border crossing as US blockade pushes trade overland
GURBULAK BORDER CROSSING, Turkey (AP) — Hundreds of trucks idle along the road into Iran from Turkey’s mountainous eastern border. Bustling even in normal times, the countries' largest crossing is now a make-or-break economic lifeline for Tehran as the U.S. navy blockades its ports.
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US stocks waver as the bond market, oil prices keep up the pressure
Pressure continues to bear down on Wall Street from the bond market and oil prices, and U.S. stocks are wavering. The S&P 500 rose 0.1% Thursday. It is coming off of two straight declines after rallying to the brink of its all-time high. The Dow Jones Industrial Average dropped 145 points, and th...
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Gulf nations have found ways to keep oil flowing through the Iran war, but the costs are mounting
FRANKFURT, Germany (AP) — When Iran shut down the Strait of Hormuz at the start of the war, choking off sea passage for some 15 million barrels of oil a day, many feared that prices would skyrocket, cratering the world economy.
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Senators question FDA nominee Overton about her views on the abortion pill and vaccines
President Donald Trump’s pick to run the Food and Drug Administration is facing questions from Senate lawmakers considering her nomination. Thursday’s hearing is expected to focus on Dr. Heidi Overton’s views on vaccines and abortion drugs. Both have come under new scrutiny at the FDA under Trump...
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Trump hails 'truly great friendship' with Xi Jinping as the Chinese leader begins his state visit
President Donald Trump is hailing the “truly great friendship” he's forged with Xi Jinping as the Chinese leader began his highly anticipated state visit. Trump has many thorny issues to discuss with the president of America’s biggest economic rival. But Trump is focusing on his long relationship...
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One Tech Tip: iOS 27 comes with revamped screen time controls and other useful new features
Apple's latest mobile operating system update, iOS 27, rolled out last week, headlined by a more advanced version of its Siri assistant. But it also comes with a slew of other useful but less well known features for iPhone users.
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US will make up to $7 billion in loans to help Trump ally Milei tap Argentina’s oil and minerals
BUENOS AIRES, Argentina (AP) — The Trump administration said Wednesday it would set aside $7 billion for loans to support energy, mining and infrastructure projects in Argentina, its latest move to secure energy and critical minerals closer to home and back the South American country's libertaria...
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OpenAI's breach of Australian health department website prompts rebuke from Albanese
Australian Prime Minister Anthony Albanese says he is extremely concerned about OpenAI's security breach of a government website, and that the artificial intelligence company took too long to reveal the incident. Albanese made the breach public Thursday following a telephone conversation with Ope...
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Meta bets big on wearable AI, new AI agent as Zuckerberg pushes back against AI doom
Meta is diving into AI with new wearable devices and an AI agent called Muse. At the company's annual Connect conference, CEO Mark Zuckerberg emphasized optimism about AI's future. He distanced Meta from calls to slow AI development, arguing for empowering people. Meta introduced updates to its A...
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Skyrocketing diesel prices rattle Republicans as midterms approach
Diesel fuel, which powers the global economy and the American heartland, is hitting record prices as the war in the Middle East intensifies, leaving Republican candidates reeling and contemplating extreme steps that economists warn could only increase pain for consumers.
