AP Business News Digest

FATIMA HUSSEIN

October 08, 2025

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.

US--Verizon-AST SpaceMobile

Verizon teams with AST SpaceMobile on space-based cellular service

SUMMARY: Verizon has signed a deal to provide cellular service from space through AST SpaceMobile beginning next year. Shares of AST SpaceMobile, a space-based cellular broadband network, soared more than 10% before the market opened Wednesday. Financial terms of the agreement, which expands on a strategic partnership announced in early 2024, were not disclosed. The announcement of the AST SpaceMobile deal comes two days after Verizon named former PayPal CEO Dan Schulman to its top job, taking over the post from Hans Vestberg.

WORDS: 265 - MOVED: 10/08/2025 8:32 a.m. EDT

https://newsroom.ap.org/detail/VerizonteamswithASTSpaceMobileonspacebasedcellularservice/88e8780d32b973333fad262665527199/text

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AS--India-Airport

India's prime minister opens a new Mumbai airport built by Adani Group for $2.2 billion

SUMMARY: India's Prime Minister Narendra Modi has inaugurated a new international airport in Mumbai. Built by the Adani Group at a cost of $2.2 billion, Navi Mumbai International Airport is expected to start operations in December. It aims to ease congestion at the city's existing airport and become a key passenger and cargo hub in Asia. Over the past decade, the number of airports in India has increased significantly. The new airport will eventually handle up to 90 million passengers annually and will be connected by water taxis, high-speed rail and more.

WORDS: 321 - MOVED: 10/08/2025 7:33 a.m. EDT

https://newsroom.ap.org/detail/IndiasprimeministeropensanewMumbaiairportbuiltbyAdaniGroupforbillion/963a33171d903af4f29d188f250abfa0/text

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Financial Markets

Wall Street drifts around its all-time highs as gold keeps rising to records

SUMMARY: Most U.S. stocks are ticking higher, a day after Wall Street broke its seven-day winning streak. The S&P 500 rose 0.1% Wednesday and is near its all-time high set on Monday. The Dow Jones Industrial Average dipped 20 points, and the Nasdaq composite rose 0.3%. Trading has been relatively muted recently following the U.S. government's latest shutdown, which has delayed the release of several reports that typically move the market. Gold continued its stellar year and pushed further past $4,000 per ounce. Treasury yields eased in the bond market, while stock indexes rose in Europe following a weaker finish in Asia.

WORDS: 663 - MOVED: 10/07/2025 11:12 p.m. EDT

https://newsroom.ap.org/detail/WallStreetdriftsarounditsalltimehighsasgoldkeepsrisingtorecords/3b5d8a978d326c59cbf484a14868ce66/text

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Behind The Wheel-Car Loans Underwater

What to do if you're underwater on your car loan

SUMMARY: Higher prices and interest rates, long loan terms and early trade-ins are making it easier than ever to find yourself underwater on a car loan. Edmunds' experts share advice on how to best remedy this situation. If you're already upside down, the simplest way to avoid digging a deeper financial hole is to hold on to your current vehicle and keep making payments. Other strategies include buying a used vehicle or leasing your next vehicle.

WORDS: 849 - MOVED: 10/08/2025 6:50 a.m. EDT

https://newsroom.ap.org/detail/Whattodoifyoureunderwateronyourcarloan/1c11d0925326ba7417a3f1b2cf2265fd/text

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US--Be Well-Financial Wellness-The Great Lock In

How 'The Great Lock In' can help achieve your financial and wellness goals

SUMMARY: A viral TikTok trend called "The Great Lock In" is helping people achieve their wellness goals. It encourages participants to focus on their life goals from September 1 through December 31. There are no set rules, and the trend can be applied to various goals, including exercise, healthier eating, or financial objectives. Participants like Julissa Mercedes are using it to build savings and improve personal habits. Experts suggest reviewing finances, setting attainable goals and finding community support to succeed.

WORDS: 966 - MOVED: 10/08/2025 6:33 a.m. EDT

https://newsroom.ap.org/detail/HowTheGreatLockIncanhelpachieveyourfinancialandwellnessgoals/881c221218b98e5014fdf1d4584bd9ff/text

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US-Tesla-New Car

Tesla offers cheaper versions of 2 electric vehicles in bid to win back market share in tough year

SUMMARY: Tesla announced the launch of cheaper versions of two of its electric vehicles Tuesday in hopes of reviving flagging sales. The new Model Y, costing just under $40,000 with a stripped-down interior, comes after sales have plunged for most of the past year. The company run by Elon Musk is also offering a new Model 3 for under $37,000. Tesla has been hit hard by boycotts in response to his vocal political positions and is also facing new, stiff competition from European and Chinese electric vehicle makers. The stock is near all-time highs even though both sales and profits have plunged in recent quarters.

WORDS: 349 - MOVED: 10/07/2025 2:54 p.m. EDT

https://newsroom.ap.org/detail/Teslaofferscheaperversionsofelectricvehiclesinbidtowinbackmarketshareintoughyear/7dd6213c456fa2c16a676176081a3227/text

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US- EEOC-Senate-Confirmation

Senate confirmation of Trump nominee cements his shake-up of top civil rights agency

SUMMARY: The Senate has confirmed President Donald Trump's pick to fill a critical vacancy at the top agency for worker rights, restoring it to the full power needed to deepen his overhaul of civil rights enforcement. The confirmation of Brittany Panuccio as a commissioner of the Equal Employment Opportunity Commission Tuesday establishes a Republican majority at the agency and restored the quorum needed to make major policy and enforcement decisions in pursuit of Trump's civil rights priorities, including stamping out diversity and inclusion programs and rolling back protections for transgender workers.

WORDS: 826 - MOVED: 10/07/2025 6:23 p.m. EDT

https://newsroom.ap.org/detail/SenateconfirmationofTrumpnomineecementshisshakeupoftopcivilrightsagency/c3eacc4a7b618e5d31548e33d6cae4d0/text

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US-Roblox-Kentucky Lawsuit

Kentucky lawsuit says Roblox fails to protect children on its popular online gaming platform

SUMMARY: Kentucky Attorney General Russell Coleman says the online gaming platform Roblox has become a "playground for predators." He announced a new lawsuit accusing the company of lax child safety measures. The suit filed Monday in a state court is the latest action alleging the wildly popular site isn't doing enough to protect kids. On Tuesday Coleman said Roblox needs to install effective age verifications and content filters. It also needs added parental notifications, Coleman says. Roblox says it has rigorous safety measures in place. The company says it has 111 million daily active users.

WORDS: 692 - MOVED: 10/07/2025 5:12 p.m. EDT

https://newsroom.ap.org/detail/KentuckylawsuitsaysRobloxfailstoprotectchildrenonitspopularonlinegamingplatform/4104db6e4aa16395b8bf5082e4a6a8cc/text

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Financial Markets

US stocks snap a 7-day winning streak as gold's price tops $4,000 per ounce

SUMMARY: U.S. stocks sank to their first loss in eight days. The S&P 500 fell 0.4% Tuesday from its all-time high. The Dow Jones Industrial Average lost 0.2%, and the Nasdaq composite gave up 0.7%. Drops for Tesla and Oracle helped weigh on the market as stocks took a pause following a nearly relentless rise since April. They offset gains for several stocks benefiting from the continued boom in artificial-intelligence technology. Gold climbed and topped $4,000 per ounce to continue its stellar year amid worries about politics and the potential for high inflation in the future.

WORDS: 743 - MOVED: 10/07/2025 12:01 a.m. EDT

https://newsroom.ap.org/detail/USstockssnapadaywinningstreakasgoldspricetopsperounce/c41a2f8bd1e07fa8c0b61797aa1cf24c/text

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US--Gold Prices

Gold futures rise above $4,000 per ounce for the first time

SUMMARY: Gold futures have soared above $4,000 per troy ounce for the first time, as many investors seek a "safe haven" to park their money during the continuing U.S. government shutdown. The going price for New York spot gold had previously closed at $3,960.60 per troy ounce Monday. Gold sales can rise sharply when anxious investors seek secure investments for their money. Before Tuesday, the asset had seen wider gains over the last year, particularly with President Donald Trump's barrage of tariffs plunging much of the world into economic uncertainty.

WORDS: 1011 - MOVED: 10/07/2025 9:22 a.m. EDT

https://newsroom.ap.org/detail/Goldfuturesriseaboveperounceforthefirsttime/fbe2b3c43780923569a7b5db1a55f06b/text

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Financial Markets-Box

How major US stock indexes fared Tuesday, 10/7/2025

SUMMARY: Wall Street's record-breaking rally is running out of momentum. The S&P 500 dipped 0.4% Tuesday from its latest all-time high and broke a seven-day winning streak. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite lost 0.7%. Drops for Tesla and Oracle helped weigh on the market. They offset gains for several stocks benefiting from the continued boom in artificial-intelligence technology. Gold climbed and topped $4,000 per ounce to continue its stellar year amid worries about politics and the potential for high inflation in the future.

WORDS: 260 - MOVED: 10/07/2025 4:20 p.m. EDT

https://newsroom.ap.org/detail/HowmajorUSstockindexesfaredTuesday/73272fc464d2eb11512a94df1b496196/text

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US--Government Shutdown-Financial Markets-IPOs

Government shutdown threatens to stall the recovery in the IPO market

SUMMARY: The U.S. government shutdown could raise a caution flag for private companies considering a move to the public market for investors. The IPO market has been on a years-long recovery after spiking inflation slammed the brakes on activity in 2022. Since then, every year has proved to be better than the last. The shutdown means delays and halts in IPO reviews from the Securities and Exchange Commission. A prolonged government shutdown could sap confidence in the U.S. markets and economy as IPO activity approaches a typically slower period near the end of the year.

WORDS: 502 - MOVED: 10/07/2025 10:11 a.m. EDT

https://newsroom.ap.org/detail/GovernmentshutdownthreatenstostalltherecoveryintheIPOmarket/e3c3ae3e892d860c61d416792d5b5dab/text

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Toyota-Recall

Toyota recalls nearly 400,000 Tundras and Sequoias due to malfunctioning rearview camera

SUMMARY: Toyota is recalling nearly 400,000 vehicles because the rearview camera may not display when backing up, increasing the risk of a crash, federal traffic safety regulators said. Included in the recall are 2022-2025 Toyota Tundras and Tundra hybrids and 2023-2025 Sequoia hybrids. The number of automobiles in the recall total 393,838, with the non-hybrid Tundra making up more than half of them. The camera display malfunction is caused by a software problem, which will be fixed with an update by dealerships free of charge. Owner notification letters are expected to be mailed November 16. Owners can contact Toyota's customer service at 1-800-331-4331.

WORDS: 151 - MOVED: 10/07/2025 10:44 a.m. EDT

https://newsroom.ap.org/detail/ToyotarecallsnearlyTundrasandSequoiasduetomalfunctioningrearviewcamera/9a3a60bff8f9acdc72a92ee0bc4e274b/text

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