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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US TRUMPS-TARIFFS-SOYBEAN FARMERS
DESCRIPTION: Minnesota farmer Dan Glessing isn't ready to get too upset over President Donald Trump's trade wars. While farm country voted heavily for Trump last November, Glessing and many other farmers have taken a wait-and-see attitude toward the president's disputes with China and other international markets for their crops. Monday's announcement of a 90-day truce between the U.S. and China backs up their reluctance to hit the panic button.
UPCOMING: By 05/13/2025 11:00 a.m. EDT, Text, Photo, Video
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US WORLD FOOD PRIZE
DESCRIPTION: DES MOINES, Iowa -- The Des Moines-based World Food Prize Foundation announces it annual prize winner Tuesday evening. The prize, which includes a $500,000 award, honors an individual whose work improves the quality, quantity and availability of the world's food supply.
UPCOMING: By 05/13/2025 7:00 p.m. EDT, Text, Photo
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NEW AND DEVELOPING
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US--SOCIAL MEDIA-GLAAD-SAFETY
Major social media platforms fail to protect LGBTQ users, advocacy group GLAAD says
SUMMARY: Major social media platforms such as TikTok, Instagram and X have failed to protect LGBTQ+ users from hate and harassment, in part, because they intentionally rolled back previous safety practices, the advocacy group GLAAD said Tuesday in its annual Social Media Safety Index. The scorecard assigns numeric ratings to each platform with regard to LGBTQ safety. Elon Musk's X received the lowest score at 30 out of 100, while TikTok came in highest at 56.
WORDS: 513 - MOVED: 05/13/2025 10:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f790bda1bc3f169ef28ca3f441ea8447&mediaType=text
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US--CONGRESS-TAX CUTS
Trump's $4.9 trillion tax plan targets Medicaid to offset costs
SUMMARY: House Republicans have revealed the sweeping tax provisions for President Donald Trump's big bill. It tallies at $4.9 trillion in costs so far, partly paid for with reductions to Medicaid, food stamps and green energy programs used by millions of Americans. The House Ways and Means Committee named its package ''THE ONE, BIG, BEAUTIFUL BILL,'' a nod to Trump himself. It seeks to extend the tax breaks approved during Trump's first term and boost the standard deduction, child tax credit and estate tax exemption. That's all while adding new tax breaks on tipped wages, overtime pay, Social Security benefits and auto loans that Trump promised during his campaign for the White House.
WORDS: 1367 - MOVED: 05/13/2025 10:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:67013369b771d02c0128ee6421f302eb&mediaType=text
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ML--TRUMP-MIDEAST
Trump and Saudi crown prince sign a host of agreements as US leader begins 4-day Mideast tour
SUMMARY: U.S. President Donald Trump has signed a host of economic and bilateral cooperation agreements in Saudi Arabia at the start of a four-day Middle East trip. Trump is focused on dealmaking with a key Mideast ally while shared concerns about Iran's nuclear program and the war in Gaza drag on in the background. Crown Prince Mohammed bin Salman warmly greeted Trump after he landed Tuesday in Riyadh. Trump and Prince Mohammed have signed more than a dozen agreements to increase cooperation between their governments' militaries, justice departments and cultural institutions. Prince Mohammed has already committed to some $600 billion in new Saudi investment in the U.S., but Trump teases $1 trillion would be even better.
WORDS: 1239 - MOVED: 05/13/2025 10:09 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b782fe922d09afced2e1074b65016e80&mediaType=text
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US--TRUMP-TARIFFS TIMELINE
Trump's tariffs have launched global trade wars. Here's a timeline of how we got here
SUMMARY: Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad -- all while on-again, off-again new levies continue to escalate uncertainty. Trump is no stranger to tariffs. He also launched a trade war during his first term in office, but has more sweeping plans now. Economists stress there could greater consequences this time -- and that higher prices will likely lead consumers to foot the bill. There's also been a sense of whiplash from Trump's back-and-forth tariff threats and responding retaliation, including some recently-postponed levies. Still, Trump has announced sweeping trade actions -- most recently with his launch of "reciprocal" tariffs.
WORDS: 2861 - MOVED: 05/13/2025 10:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6ea513a44876c2f4dc948a25c15b0eb0&mediaType=text
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US--PHILANTHROPY-CONSTITUTION
Ken Griffin will loan his copies of the Constitution and Bill of Rights so the public can see them
SUMMARY: Citadel CEO Ken Griffin believes American prosperity is a testament to the power of the Constitution. And as the country gets ready to celebrate its 250th anniversary next year, the hedge fund billionaire wants to expand public access to the 1787 document. Griffin announced Tuesday that he will lend his first-edition copy of the Constitution to the National Constitution Center in Philadelphia for a public exhibit dedicated to the founding document of the U.S. government. He will also loan the center his copy of the Bill of Rights, which he has not previously acknowledged owning publicly, and his nonprofit Griffin Catalyst will make a $15 million donation for the exhibit - the largest in the center's history.
WORDS: 778 - MOVED: 05/13/2025 10:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:33e2c20b27f96306da2e36067f224a97&mediaType=text
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US--CONSUMER PRICES
Inflation cooled again even as some tariffs took effect. But economists don't expect that to last
SUMMARY: Inflation may have picked up slightly last month as President Donald Trump's widespread tariffs kicked in, a trend economists expect will become more visible in the coming months. Tuesday's report could provide an early read on how Trump's duties will affect the prices Americans pay for necessities and other goods such as clothing, shoes, furniture and even groceries. Duties on many goods from Mexico and Canada took effect in February and could have impacted prices last month. Still, economists forecast the impact from duties to be modest.
WORDS: 753 - MOVED: 05/13/2025 10:00 a.m. EDT
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FINANCIAL MARKETS
Wall Street's momentum fades following Monday's spurt and US stocks are drifting in mixed trading
SUMMARY: U.S. stocks are holding relatively steady following a report that showed inflation unexpectedly slowed across the country last month. The S&P 500 rose 0.1% Tuesday. The Dow Jones Industrial Average fell 209 points, and the Nasdaq composite rose 0.5%. It's a cooldown following Monday's big leap triggered by a 90-day pause announced in the trade war between the United States and China. Treasury yields also held relatively stable after the U.S. government report showed a slowdown in inflation from March. Economists and analysts say inflation may still run higher in coming months because of President Donald Trump's tariffs.
WORDS: 682 - MOVED: 05/13/2025 9:57 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:656a52628a99cff19a802923ff54ab17&mediaType=text
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CN--CANADA-HONDA EV
Honda Canada postpones multibillion EV investment project in Ontario
WORDS: 255 - MOVED: 05/13/2025 9:47 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b7c05f857be61263c3227afee04bf37a&mediaType=text
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US--UNITEDHEALTH-CEO
UnitedHealth Group CEO steps down as company lowers, then withdraws financial outlook for 2025
SUMMARY: UnitedHealth Group CEO Andrew Witty is stepping down from his post for personal reasons and the health care giant says it's suspending its full-year forecast due to higher-than-expected medical costs. UnitedHealth said Tuesday that Stephen Hemsley will become CEO, effective immediately. Hemsley served as company CEO from 2006 to 2017. He will remain chairman of the company's board. Witty will serve as a senior adviser to Hemsley.
WORDS: 492 - MOVED: 05/13/2025 9:36 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:78d0da7e1411138bca8c50b00a518191&mediaType=text
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AS--JAPAN-WTO
World trade chief says global free trade is in a crisis while on visit to Japan
SUMMARY: The head of the global trade watchdog says global free trade is facing a "crisis" as U.S. President Donald Trump disrupts world commerce with his fast-changing tariffs and other policies. Ngozi Okonjo-Iweala, director-general of the World Trade Organization, told Japanese Prime Minister Shigeru Ishiba that she has high expectations for Japan as a champion of open markets. She met with Ishiba on Tuesday, a day after the United States and China said they had agreed to slash recent sky-high tariffs for 90 days to allow time for negotiations. Japan is among many countries yet to reach a deal with the Trump administration on hikes to U.S. tariffs, including those on autos, steel and aluminum.
WORDS: 446 - MOVED: 05/13/2025 9:28 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:84abf61fe8610094771a024f4b8211bd&mediaType=text
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TRUMP-TARIFFS-LAWSUITS
Trump trade war faces legal challenge as businesses, states argue his tariffs exceeded his power
SUMMARY: President Donald Trump is waging a trade war without getting approval from Congress: He declared a national emergency to slap import taxes -- tariffs -- on almost every country on earth. The president is now facing at least seven lawsuits that argue he's gone too far and asserted power he does not have. The first of the legal challenges goes to court Tuesday morning in New York. Five small businesses are asking a three-judge panel of the U.S. Court of International Trade to block the sweeping import taxes that Trump announced April 2 - "Liberation Day,'' he called it.
WORDS: 821 - MOVED: 05/13/2025 9:12 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6f5fa2daee0e1519035391328b456a9a&mediaType=text
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US--DEMOCRATS-LATINOS
To reach Latinos, some Democrats pivot to talk more about the economy and less about immigration
SUMMARY: Democrats have long focused on immigration when courting Latino voters in states like Arizona, Nevada, New Jersey and Florida, where generations of Latin American immigrants have settled and gained permanent legal status. But Donald Trump's 2024 presidential election victory and the rightward shift in Latino communities around the country are making some liberals reconsider their traditional wisdom. Liberal strategists, organizers and some politicians are urging Democrats to focus on the economy in this year's elections. Some argue a broad economic message would be more effective with the wide range of nationalities and experiences in the Latino community rather than customized efforts based on perceived cultural or political interests.
WORDS: 1087 - MOVED: 05/13/2025 9:11 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:933707d43741a0c3f97242b33f4ad8e6&mediaType=text
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US--EGG PRICES
US egg prices fall for the first time in months but remain near record highs
SUMMARY: Retail egg prices in the United States fell last month after setting records at the start of the year, according to government data. The Consumer Price Index released on Tuesday showed the average price for a dozen Grade A eggs dropped to $5.12 in April. It was the first month-to-month decline in egg prices since October 2024. In March, U.S. egg prices had climbed to a record $6.23 per dozen. It was unclear how much egg prices would fall in April because demand is usually high during Easter.
WORDS: 208 - MOVED: 05/13/2025 9:07 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4da197d59be4ea6773b4f3235b147437&mediaType=text
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EU--BALKANS-EU
European Council president says Serbia's leader has vowed to stay on the EU path despite Russia trip
SUMMARY: European Council President António Costa has criticized the trip by Serbia's president to Russia's Victory Day parade last week. But Costa said that he got assurances that the troubled Balkan nation will remain on the path toward European Union accession. Costa said in Belgrade on Tuesday that "a lot of people asked me not to come" to Serbia after populist President Aleksandar Vucic's trip to Moscow. "But I decided to come." Costa is at the start of his tour of six Western Balkan membership hopefuls.
WORDS: 649 - MOVED: 05/13/2025 8:47 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:274bdb5a642fd5624a0de188082b9193&mediaType=text
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EU--BRITAIN-ISRAEL-ARMS EXPORTS
UK High Court hears challenge to British government's role arming Israel
SUMMARY: Human rights groups launched a court fight challenging the British government's decision to supply parts for F-35 fighter jets, saying they are being used by Israel in Gaza in violation of international law. The hearing Tuesday in the High Court alleges that the U.K. is complicit in atrocities against Palestinians by allowing essential components for the warplanes to be supplied to Israel. The U.K. government suspended export licenses for equipment deemed to be for use in Gaza because it could violate international humanitarian law. But it made an exception for F-35 fighter jet parts.
WORDS: 579 - MOVED: 05/13/2025 7:17 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:979e8953d2b7b0972be15de3822331fc&mediaType=text
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AS-JAPAN-EARNS-SOFTBANK GROUP
Japanese tech giant SoftBank records its first profit in 4 years
WORDS: 308 - MOVED: 05/13/2025 6:51 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:464afbdb9bf1a0ea9e72e844fb5056c2&mediaType=text
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AS--JAPAN-HONDA-RESULTS
Japan's Honda projects plummeting profits due to Trump's tariffs
WORDS: 429 - MOVED: 05/13/2025 6:45 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d7d92a4eab2ee710855c6e971b718619&mediaType=text
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US-MONEY MATTERS-SHORT-TERM INVESTMENTS
The best places to park your short-term investments
SUMMARY: As you sift among the various options for your short-term investments, keep these key items on your dashboard: yield, guarantees, liquidity and your individual situation. The short-term investments that promise the highest yields often come with at least some risk and/or constraints on your daily access to funds. It may be that you're just looking for the highest safe yield and don't care that much about liquidity. Or maybe having ready access to your funds is the name of the game.
WORDS: 679 - MOVED: 05/13/2025 6:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:dc35a41b62042d741f92791e6e3a5d3d&mediaType=text
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JAPAN-EARNS-NISSAN
Nissan slashes 15% of its global work force as the Japan automaker sinks into losses
SUMMARY: Nissan says it will cut about 15% of its global work force, or about 20,000 employees. The Japanese automaker reported Tuesday a loss for the fiscal year that ended in March, amid slipping vehicle sales in China and other nations. The Yokohama-based automaker said U.S. President Donald Trump's tariffs on auto imports also hurt its results. Nissan said it will reduce its auto plants to 10 from 17 under its recovery plan. It said it means to carry out "decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes." Nissan racked up a loss of 670.9 billion yen ($4.5 billion) in the last fiscal year.
WORDS: 412 - MOVED: 05/13/2025 5:39 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:66f8e4764bc33bc52b82f378d15b7f13&mediaType=text
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AS--CHINA-TRADE
China seeks a united front with Latin America in countering Trump's trade war
SUMMARY: A day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate, China is moving to strengthen its alliances as a counterweight to President Donald Trump's trade war. President Xi Jinping warned against bullying and said he was ready to join hands with Latin American countries to block protectionism. He was addressing a regional forum where he was joined by the presidents of Brazil, Chile and Colombia and other Latin American and Caribbean officials. Meanwhile, the head of the WTO appealed to Japan to champion global free trade. The realities of Trump's global trade offensive overshadowed an initial burst of optimism over the China-U.S. deal among investors, as rallies in stocks and oil prices faded.
WORDS: 776 - MOVED: 05/13/2025 5:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:de2a3faa01ce6e98617cbecd74658c34&mediaType=text
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EU--GERMANY-FAR RIGHT GROUP-BAN
Germany bans the largest 'Reich citizen' group and arrests 4 leaders
SUMMARY: Germany's government has banned the largest "Reich citizen" group. The extremist far-right organization calls itself the "Kingdom of Germany" and seeks to undermine the country's democratic order. Four of its leaders were arrested Tuesday and 800 police officers in several states were searching the association's properties and leaders' homes. The "Reich citizen" or "Reichsbürger" movement doesn't recognize Germany as a state. Many of them claim that the historical German Reich still exists and ignore the country's democratic and constitutional structures.
WORDS: 385 - MOVED: 05/13/2025 4:52 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:228cd18d3f6ccf04fb355ab477ee7214&mediaType=text
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AF--MIGRATION-SENEGAL-OVERFISHING
Foreign overfishing in Senegal fuels migration to Spain, a report finds
WORDS: 593 - MOVED: 05/13/2025 4:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:856720abdd7a6b612c3330b349997156&mediaType=text
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AS--MALAYSIA AIRLINES-MH17 COMPENSATION
Russia is responsible for downing MH17 over Ukraine in 2014, global aviation agency's council finds
SUMMARY: The Council of the International Civil Aviation Organization has found Russia responsible for shooting down Malaysia Airlines Flight 17 over Ukraine with the loss of 298 lives more than a decade ago. The ruling raises the prospect of victims' families being paid compensation. A Dutch-led international investigation concluded in 2016 that the Amsterdam-to-Kuala Lumpur airliner was shot down in 2014 from Ukraine territory held by separatist rebels using a Buk missile system delivered from Russia. Moscow denies any involvement in the MH17 tragedy. The Netherlands and Australian governments brought the case against Moscow before the Montreal-based global aviation regulator in 2022 and on Tuesday and welcomed the verdict.
WORDS: 437 - MOVED: 05/13/2025 4:01 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d4d7e81d05b48cd7795bebde24047500&mediaType=text
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US--MEDIA-TRUMP-AIR FORCE ONE
White House correspondents protest lack of wire reporters on Air Force One
SUMMARY: The White House Correspondents Association says it is disturbed that no reporters from either The Associated Press, Bloomberg or Reuters were allowed on Air Force One to cover President Donald Trump's trip to the Middle East on Monday. The WHCA says it was the first time since reporters started traveling with a president abroad that no wire service reporters were on the plane. The wire services serve thousands of news outlets and millions of readers around the world. The White House has been fighting in court with The Associated Press since it began restricting AP's access to events because the outlet hasn't followed Trump's directive that the Gulf of Mexico be renamed the Gulf of America.
WORDS: 231 - MOVED: 05/13/2025 1:32 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cc81e76d7d8b7a54848cc9f1117cb02a&mediaType=text
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US-DEPORTATION-FLIGHTS-AVELO
Budget airline begins deportation flights for ICE with start of Arizona operations
SUMMARY: A U.S. budget airline has begun making deportation flights out of an Arizona airport, an unusual and controversial move for a company that depends heavily on its consumer brand. Avelo Airlines, a commercial passenger carrier that serves mostly small U.S. cities, is branching out by becoming the newest contractor for ICE Air, as U.S. Immigration and Customs and Enforcement's air deportation unit is known. The move has inspired a backlash against the airline in Connecticut, an online boycott petition and sharp criticism from the union representing the carrier's flight attendants. Neither Avelo nor ICE provided details of the contract for the flights.
WORDS: 976 - MOVED: 05/13/2025 12:08 a.m. EDT
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