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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NVDIA-RESULTS -- Nvidia on Wednesday will report their fourth-quarter earnings as demand for its specialized computer chips that power artificial intelligence systems continue to grow.

UPCOMING: By 02/26/2025 5:00 P.m. EST, Photo, Text

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NEW AND DEVELOPING

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US--NVIDIA-BY THE NUMBERS

Wall Street is anxiously watching Nvidia earnings again. What to know, by the numbers

SUMMARY: Wall Street is once again fixated on Nvidia, as the main player in the artificial intelligence mania is set to report earnings after the bell Wednesday and give an update on demand for its semiconductors, which are used to power AI applications. This will be Nvidia's first earnings report since a Chinese upstart, DeepSeek, upended the artificial-intelligence industry by saying it has developed a large language model that can compete with big U.S. rivals without having to use the most expensive chips. Nvidia's market value saw a one-day drop of nearly $600 billion after the news came out.

WORDS: 374 - MOVED: 02/26/2025 10:07 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:1063d50f560f48c04fb97539d566c46e&mediaType=text

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US--MEDIA-WIRED-MUSK

Not known for political coverage, Wired takes a leading role in tracking Elon Musk's team

SUMMARY: The tech outlet Wired set up a new politics team in time for the presidential election -- but its most impactful work is coming after the election is over. Wired's knowledge and focus on Elon Musk has helped its aggressive coverage revealing the young team that is working with Musk to shave the federal bureaucracy -- who they are and what exactly they're doing. The work has attracted notice, and led to a quick jump in its circulation. Some Trump aides have suggested Wired is doxxing the new employees, while the outlet says people engaged in changing the government are fair game.

WORDS: 984 - MOVED: 02/26/2025 10:05 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:1f3988a459d39f39e7be6c598aa3d710&mediaType=text

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EU--BRITAIN-US-STARMER-TRUMP

Keir Starmer heads to Washington with UK defense spending pledge to help sway Trump over Ukraine

SUMMARY: U.K. Prime Minister Keir Starmer flies to Washington on a trip aimed at persuading U.S. President Donald Trump to maintain military support for Ukraine. Ukraine and its European allies have been scrambling to respond after the Trump administration engaged directly with Moscow to quickly end the war in Ukraine. Starmer has announced a big boost in U.K. defense spending and offered to send British troops to Ukraine as part of a force to safeguard a ceasefire. He says an American "backstop" will be needed to ensure a lasting peace. Trump hasn't committed to providing security guarantees for Ukraine. The trip comes after Washington and Kyiv struck an economic deal giving the U.S. a share of Ukraine's lucrative rare earth mineral deposits.

WORDS: 576 - MOVED: 02/26/2025 10:03 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:5f7814b6dd2f71d8cf575fa9301a1593&mediaType=text

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EU--RUSSIA-UKRAINE-WAR

Ukraine's Zelenskyy says framework economic deal with US is ready but security guarantees undecided

SUMMARY: Ukrainian President Volodymyr Zelenskyy says a framework economic deal with the United States is ready. But Zelenskyy says that security guarantees that Kyiv views as vital remain to be decided and a full agreement could hinge on talks in Washington as early as Friday. Zelenskyy said during a news conference in Kyiv on Wednesday that the framework deal is a first step toward a full agreement that will be subject to ratification by Ukraine's parliament. Zelenskyy said that Ukraine needs to know where the United States stands on its continued military support. He said he expects to have a wide-ranging substantive conversation with U.S. President Donald Trump during a visit to Washington. Zelenskyy said "I want to coordinate with the U.S."

WORDS: 497 - MOVED: 02/26/2025 9:56 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:faf1ff881802c923370053e539ec26e4&mediaType=text

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FINANCIAL MARKETS

Stock market today: Wall Street drifts higher after a 4-day losing streak knocked it off its record

SUMMARY: U.S. stock indexes are drifting higher after a four-day losing streak knocked Wall Street off its all-time high and threw some of its brightest stars into reverse. The S&P 500 rose 0.2% Wednesday. The Nasdaq composite climbed 0.4%, and the Dow Jones Industrial Average edged down 14 points. Some of the stocks that had been beaten down the most over the last week jumped to lead the way. Super Micro Computer soared after filing delayed financial reports, while Nvidia climbed ahead of its profit update coming after trading ends for the day. General Motors revved higher after saying it would send more cash to investors.

WORDS: 689 - MOVED: 02/26/2025 9:47 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:79a76b267cd9565896d798e7bc6e82dd&mediaType=text

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EU--EUROPE-INDUSTRIAL REFORM

EU executive plans a major reset of economy as critics fear climate will suffer

WORDS: 598 - MOVED: 02/26/2025 9:39 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:89a3b66611523d676f37c3fc966cf948&mediaType=text

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US--PHILANTHROPY-FOREIGN AID FREEZE

Emergency fundraisers offer a lifeline to groups who've lost foreign aid

SUMMARY: Several nonprofit groups launched fundraising campaigns last week to help organizations who have lost funding because of the Trump administration's freeze on foreign assistance. The group Unlock Aid started the Foreign Aid Bridge Fund to take donations and grant them to groups to try avert some of the worst impacts of this major policy change. In his first days in office, President Donald Trump ordered a 90-day freeze on U.S. foreign assistance to review whether it aligned with his policies. Walter Kerr, the co-executive director of the Unlock Aid, said the fund can't replace the lost U.S. aid but he thinks "in a moment like this, people need to do what they can."

WORDS: 1055 - MOVED: 02/26/2025 8:58 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:65818b6a2b1e6177e61bb704838849bb&mediaType=text

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EU--BRITAIN-BP

BP to slash spending on net zero ventures as it focuses on oil and gas again

SUMMARY: British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production. It's a change in direction it hopes will bolster its flagging share price but has been met with incredulity from climate action campaigners. The company said in a statement Wednesday that it will reduce its spending on net zero transition businesses by $5 billion a year to up to 2 billion. By contrast it said it will increase its investments in oil and gas production by about 20% to $10 billion. The update came before a major shareholder meeting in London later Wednesday. It's clearly aimed at bolstering investor support in light of the company's flagging share price.

WORDS: 607 - MOVED: 02/26/2025 8:55 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:1b9cfca4c2da138f83ace86b5945e053&mediaType=text

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AS--THAILAND-MYANMAR-SCAM CENTERS

Mass crackdowns see thousands of scam center workers waiting in Myanmar for repatriation

SUMMARY: A new crackdown on online scam centers has led to over 7,000 people from around the world being held in a Myanmar border town awaiting repatriation. Those helping them say the unprecedented number is straining the resources of Thailand just across the border and leading to delays. The crackdown coordinated among Thailand, Myanmar and China follows the Thai prime minister's visit to Beijing this month and her vow to act against the scam networks that have drawn in hundreds of thousands of people. They are often lured under false pretenses to work in centers in Myanmar, Cambodia and Laos, where they financially exploit people around the world.

WORDS: 574 - MOVED: 02/26/2025 8:54 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:133efbf0529fafacf91a4aee27d48a87&mediaType=text

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EU--MILAN FASHION WEEK-JIL SANDERS

Jil Sander collection creates light from darkness, prettiness cut with punk details

SUMMARY: The latest Jil Sander collection with shimmering surfaces cut dramatically against the darkened runway on the second day of Milan Fashion Week runway previews for next fall and winter. Designers Lucie and Luke Meier subverted all things feminine with edgy details on Wednesday. Frocks and outerwear created from long and sequined fringe grabbed the light while feathery details fluttered on wool. It created contrast and movement. Delicate bows decorated long sculptural dresses.

WORDS: 212 - MOVED: 02/26/2025 8:27 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:8e33505ff99691954a7a0fcab65f2d8b&mediaType=text

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APPLE-IPHONE-RACIST

Apple to fix iPhone dictation glitch that suggests replacing the word 'racist' with 'Trump'

SUMMARY: Apple says it's fixing a bug with its dictation feature on some iPhones that briefly suggests the word "Trump" when a word with an R consonant is spoken, including "racist." The company was responding to the controversy after some iPhone owners posted videos on social media this week to detail how the glitch works. The videos show that when users activated the dictation feature and spoke the word "racist, the word "Trump" appears in the text window before quickly being replaced by the correct word. Apple said it was aware of the issue and is "rolling out a fix." It also said that other words that have an "r" consonant were also erroneously triggering the bug.

WORDS: 245 - MOVED: 02/26/2025 8:07 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:d80f88d69f6ceac585904f2faa2a9212&mediaType=text

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AF--SOUTH AFRICA-G20

The US is missing again as G20 finance chiefs meet in South Africa

SUMMARY: Finance ministers and central bank chiefs from the Group of 20 developed and developing nations have gathered in South Africa for a two-day meeting. But it's missing U.S. Treasury Secretary Scott Bessent and several other high-profile figures. U.S. Secretary of State Marco Rubio skipped last week's G20 foreign ministers meeting in South Africa as the Trump administration has been openly critical of the country and its G20 themes. South Africa holds the rotating presidency of the G20 this year -- the first African nation to do so. It has pledged to put issues that especially affect poor countries like debt relief and climate change at the top of the agenda.

WORDS: 654 - MOVED: 02/26/2025 7:48 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:38d1cd4734b415df04cf5774cb799bc9&mediaType=text

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BEHIND THE WHEEL-USED TRUCKS UNDER $25K

Edmunds: The best used trucks for under $25,000

SUMMARY: America loves trucks. They've become the family-hauling, active-lifestyle and towing choice for families in every part of the nation. And whatever your truck needs, they're available used on a modest $25,000 budget. Edmunds editors narrowed the choices down to five of the best used trucks available.

WORDS: 810 - MOVED: 02/26/2025 6:13 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:b74e96e6e451b34d6de564e3dcfab77a&mediaType=text

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US--PLANE AVOIDS COLLISION-CHICAGO

Southwest Airlines flight abruptly rises to avoid another plane crossing Chicago runway

SUMMARY: Pilots on a Southwest Airlines flight attempting to land at Chicago's Midway Airport were forced to climb back into the sky to avoid another aircraft crossing the runway. Airport webcam video posted to X shows the Southwest plane approaching a runway just before 9 a.m. Tuesday before its nose abruptly pulls up. A smaller jet is seen crossing the runway that the passenger plane was set to use. Southwest Airlines says Flight 2504 from Omaha, Nebraska, safely landed after the crew performed a precautionary go-around to avoid a possible conflict with another aircraft that entered the runway. The Federal Aviation Administration says the second plane, a business jet, entered the runway without authorization.

WORDS: 689 - MOVED: 02/26/2025 5:42 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:e0abb86c91ea54a751cc917ae97d2d11&mediaType=text

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AS--HONG KONG-FINANCE

Hong Kong is to cut thousands of civil service jobs and invest in AI to tackle a rising deficit

WORDS: 419 - MOVED: 02/26/2025 4:57 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:e666c705affa8c7922b5901cdde49c36&mediaType=text

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AS--PAKISTAN-TRANSGENDER CHEFS

Pakistan's transgender community finds hope and dignity at a culinary school

SUMMARY: A culinary program for transgender people in Pakistan is giving members of the community professional training, as well as dignity and hope. Pakistan has entrenched beliefs on gender and sexuality, so trans people are often considered outcasts in the conservative and Muslim-majority country. A report from the U.N. development agency said just 7% are employed in formal sectors and that the majority of the country's trans population experiences violence or abuse. The six-month program in Lahore welcomed its first group of 25 students in January and a second group of 25 began training this month. Each student receives a monthly stipend of 8,000 rupees, or around $26.

WORDS: 701 - MOVED: 02/26/2025 3:51 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:8a3a436943d171ba24934e68dd377127&mediaType=text

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US--GREENPEACE LAWSUIT-NORTH DAKOTA

Texas pipeline company's $300M lawsuit against Greenpeace heads to trial in North Dakota

SUMMARY: Opening statements are scheduled to begin in the trial of a Texas pipeline company's lawsuit against Greenpeace. The suit by Dallas-based Energy Transfer seeks millions of dollars in damages. A company spokesperson says the lawsuit is about Greenpeace not following the law. The environmental advocacy group says the suit threatens its future and is aimed at silencing critics of the oil industry. Greenpeace representatives also say the case is a critical test of free speech and protest rights. Opening statements were to begin Wednesday. The trial in Mandan, North Dakota, is expected to last five weeks.

WORDS: 375 - MOVED: 02/26/2025 12:01 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:f0b594dce3ef18c09c9b5672a2873f09&mediaType=text

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