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.
--------------------
NEW AND DEVELOPING
--------------------
US--IMMIGRATION RAID-HYUNDAI PLANT
South Korea expresses 'concern' over US immigration raid at Hyundai's Georgia plant
SUMMARY: South Korea on Friday expressed "concern and regret" over a major U.S. immigration raid at a sprawling Georgia site where South Korean auto company Hyundai manufactures electric vehicles, which officials said led to the detainment of a significant number of South Korean nationals. South Korean Foreign Ministry spokesperson Lee Jaewoong didn't provide an exact figure but described the number of detained South Koreans as "large." His ministry didn't confirm or deny South Korean media reports that about 300 South Koreans were among some 450 people detained. Hyundai's South Korean representatives didn't immediately respond to requests for comment.
WORDS: 482 - MOVED: 09/05/2025 10:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9394482c195664d7cc3db67ae998ac05&mediaType=text
___
US--CHINA-PENTAGON-RESEARCH
Pentagon-funded research at colleges has aided the Chinese military, a House GOP report says
SUMMARY: A congressional investigation finds the Pentagon has funded research involving collaboration with Chinese entities linked to China's defense sector. Many of these entities are blacklisted by the U.S. government. The report by House Republicans on the Select Committee on China warns U.S. technological know-how is being diverted to modernize China's military. Friday's report highlights concerns about the Defense Department's research policies, which it says have allowed foreign adversaries to exploit American research. Committee Chairman Rep. John Moolenaar has proposed a bill to prohibit defense funding for projects involving problematic Chinese entities. Beijing has said science and tech cooperation is mutually beneficial and helps the two sides cope with global challenges.
WORDS: 873 - MOVED: 09/05/2025 10:22 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bf8640d0e04c016f4af513350078d58c&mediaType=text
___
FINANCIAL-MARKETS
Wall Street holds near records on hopes that the US job market has slowed by just the right amount
SUMMARY: Wall Street is holding near its records on hopes that the U.S. job market has slowed enough to convince the Federal Reserve to cut interest rates soon to help the economy, but not so much that it brings a recession. The S&P 500 added 0.1% Friday. The Dow Jones Industrial Average fell 15 points, and the Nasdaq composite gained 0.4%. The action was much stronger in the bond market, where Treasury yields tumbled following the latest weaker-than-expected update on the U.S. job market. That raised expectations for a cut to rates by the Fed later this month, potentially a deeper-than-usual one.
WORDS: 766 - MOVED: 09/05/2025 10:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a0403b5a549883edfde1f606db97ff0a&mediaType=text
___
TARIFFS-CORK-PORTUGAL
Cork won a rare Trump tariff exemption thanks to lobbying on both sides of the Atlantic
SUMMARY: U.S. winemakers have something to celebrate: the corks they're popping aren't subject to tariffs. The framework trade agreement between the United States and the European Union singled out the material as an "unavailable natural product." So as of Sept. 1, cork joined a handful of other items, including airplanes and generic pharmaceuticals, that are exempt from a 15% U.S. tariff on most EU products. The cork carve-out was vital for Portugal. The European country is the world's largest cork producer, accounting for about half of global production. Cork comes from the spongy bark of the cork oak tree, which is primarily grown and harvested in the Mediterranean basin.
WORDS: 1095 - MOVED: 09/05/2025 10:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:548dd085e1750f19fca083ed0ccc46ad&mediaType=text
___
WARNER BROS-MIDJOURNEY-AI-COPYRIGHT
Warner Bros. sues Midjourney for AI-generated images of Superman, Bugs Bunny and other characters
SUMMARY: Warner Bros. is suing the AI company Midjourney for copyright infringement. The lawsuit claims Midjourney allows users to create AI-generated images and videos of copyrighted characters like Superman and Bugs Bunny. This is the third lawsuit against Midjourney by a major Hollywood studio, following Disney and Universal's joint lawsuit in June. The lawsuit alleges Midjourney trained its AI on illegal copies of Warner Bros. works and misleads users into thinking the generated content is authorized. Midjourney has not responded to the lawsuit. The company's CEO previously compared the service to a search engine, suggesting AI learning is similar to human creativity.
WORDS: 499 - MOVED: 09/05/2025 10:18 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b87d80d7b4a4dfdcf0ee149d30830551&mediaType=text
___
US-ECONOMY-JOBS-REPORT
Hiring stalls with US companies reluctant to expand in an uncertain economic landscape
SUMMARY: U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump's economic policies. The Labor Department said Friday that hiring decelerated from 79,000 in July. The unemployment rate ticked up to 4.3%, the Labor Department reported Friday.
WORDS: 935 - MOVED: 09/05/2025 10:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f686eab61f7d6b702ca10b12b0250498&mediaType=text
___
EU--BRITAIN-POLITICS-RAYNER
UK deputy prime minister resigns over tax error
SUMMARY: U.K. deputy prime minister Angela Rayner has resigned after an independent inquiry found that she didn't meet ethical standards over a recent home purchase. Rayner acknowledged on Wednesday that she didn't pay enough tax on an apartment in Hove. She referred herself to the independent adviser on ministerial standards who delivered a report to Prime Minister Keir Starmer on Friday. Property purchases incur levies in the United Kingdom. There are higher charges for expensive homes and secondary residences. Reports suggest that Rayner saved 40,000 pounds or around $54,000 by not paying the appropriate stamp duty. Rayner has been a vocal critic of tax underpayments.
WORDS: 613 - MOVED: 09/05/2025 10:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:330c39c53c4d6710c19855f45598c400&mediaType=text
___
US--TESLA-MUSK-PAY
Elon Musk in line for $1 trillion pay package if Tesla hits aggressive goals over next 10 years
SUMMARY: Tesla is looking for its investors to approve a proposed compensation package for CEO Elon Musk that could be worth almost $1 trillion and is based on the electric vehicle maker hitting certain milestones over the next decade.The company, which is also leaning heavily into robotics and AI, said in a regulatory filing on Friday that the package includes a dozen share tranches that will be given to Musk if it hits certain targets over the 10-year period. To achieve the initial amount in the compensation plan, Tesla would need to hit a market cap of $2 trillion and reaching 20 million vehicles in production and deliveries.
WORDS: 604 - MOVED: 09/05/2025 9:51 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1fbefc3d5e63ebc9ed3965fbfa8291e4&mediaType=text
___
EU--RUSSIA-UKRAINE-WAR
Putin says foreign troops deployed to Ukraine would be legitimate targets
SUMMARY: Russian President Vladimir Putin says that any foreign troops deployed to Ukraine, particularly while its invasion is still ongoing, would be considered "legitimate targets" by Moscow's forces. Putin's comments on Friday came hours after European leaders repledged their commitment to a potential peacekeeping force. Putin said that "we assume that they will be legitimate targets" if any foreign troops are deployed to Ukraine "especially now while fighting is ongoing." Putin made the remarks at an economic forum in the far eastern Russian city of Vladivostok. Putin also dismissed the idea of peacekeeping forces in Ukraine after any final peace deal.
WORDS: 637 - MOVED: 09/05/2025 9:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b60dd3981681ce08b30b2ccd9a43ad0e&mediaType=text
___
REL--SIKH TRUCKERS
A deadly crash, a divided nation: Why Sikh truckers are now in the crossfire
SUMMARY: Members of California's Sikh trucking community say a deadly crash involving one of its own has led to a spike in anti-Sikh rhetoric. The Aug. 12 crash and its subsequent investigations sparked heated national debates over immigration and stirred arguments between the governors of California and Florida. California is home to about half of U.S. members of the monotheistic religion. Many of them covet high-paying trucking jobs because they allow Sikh men to wear beards, uncut hair and turbans. Sikh advocacy groups say they're mourning for the victims of the crash. They're also demanding a fair trial for the driver and condemning anti-Sikh discrimination.
WORDS: 1394 - MOVED: 09/05/2025 8:46 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2b065c8a89b0d33d7718b45f7941e81d&mediaType=text
___
AS--PAKISTAN-CHINA
Pakistan prime minister signs $8.5 billion in investment deals with China
WORDS: 201 - MOVED: 09/05/2025 8:06 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:70ca7b7098c11acf9a9d520328476c68&mediaType=text
___
US--ELECTION 2025-DECISION NOTES-MASSACHUSETTS
AP Decision Notes: What to expect in Boston's mayoral primary
SUMMARY: Boston voters will narrow the field of candidates for mayor in a municipal primary that pits incumbent Michelle Wu against Josh Kraft, son of billionaire New England Patriots owner Robert Kraft. Both are Democrats. Two other candidates are also on the ballot Tuesday. The top two vote-getters will advance to the general election in November. Wu seeks a second term as President Donald Trump has threatened federal intervention in some of the nation's largest cities. Republican leaders have criticized Wu and other big-city mayors for immigration policies they say undermine Trump's mass deportation efforts.
WORDS: 827 - MOVED: 09/05/2025 7:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:8a17a36aeeae687a8fa9e8d93e0132f7&mediaType=text
___
AS--CHINA-EU-TRADE
China to impose preliminary anti-dumping duties on pork from EU
WORDS: 355 - MOVED: 09/05/2025 7:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:fcf2b15c34a8d44aea3e4cf35d5134f6&mediaType=text
___
EU--PORTUGAL-STREETCAR DERAILED
Most of those killed in Lisbon streetcar derailment were foreigners, police say
SUMMARY: Police in Portugal say that 11 of the 16 people killed when a streetcar derailed in the capital Lisbon were foreigners. Police said Friday that the dead included five Portuguese, three British, two Canadians, two South Koreans, one American, one French, one Swiss and one Ukrainian. Police said that a German man also thought to have died in the crash was found to be in a Lisbon hospital. It didn't provide an explanation for the error. The list of nationalities was published following forensic identification.
WORDS: 754 - MOVED: 09/05/2025 6:35 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:8801dc8a29cd67a70140dab288a24a07&mediaType=text
___
AS--JAPAN-US-TARIFFS
Japan welcomes Trump's order to implement lower tariffs on autos and other goods
SUMMARY: Japan's Prime Minister Shigeru Ishiba has welcomed U.S. President Donald Trump's order to implement lower tariffs on automobiles and other Japanese imports. Japan has been pushing for an early implementation of the tariff reduction by Trump to 15% from the previously imposed 25% as agreed between the two sides on July 22. Putting the tariff issue on course is a major relief for Ishiba as he faces pressure to resign over July election losses. Japan's top tariffs negotiator expects the order to take effect within two weeks.
WORDS: 330 - MOVED: 09/05/2025 3:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ed2f7758d714dc6fb392739c6df6e832&mediaType=text
___
US--MEDIA-ELECTION RECKONING
Fox News thrives two years after court settlement, but 2020 election coverage fight goes on
SUMMARY: Fox News seemed to be dealt a crippling blow in a $787 million settlement of a libel lawsuit more than two years ago, but has instead thrived. Fox's ratings are at a high when most television networks are sliding, including news rivals CNN and MSNBC, and Fox is the go-to source to distribute news for the new Trump administration. Yet court cases regarding coverage of the 2020 election aftermath involving outlets where Trump supporters gather are continuing. In its own recent settlement of a libel case, the conservative Newsmax network has learned that expressing regrets or apologizing doesn't pay.
WORDS: 1321 - MOVED: 09/05/2025 12:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:baf7c625d669511dfd30deef126f5864&mediaType=text
___
