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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CRACKER BARREL-LOGO
DESCRIPTION: Cracker Barrel is marching forward with an ongoing makeover. And to some fans' dismay, the chain's new logo now appears to ditch the barrel itself. By Wyatte Grantham-Phillips.
UPCOMING: By 08/25/2025 1:00 p.m. EDT, Text, Photo
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MORTGAGE RATES
DESCRIPTION: Freddie Mac reports on this week's average U.S. mortgage rates. By Alex Veiga. UPCOMING: 250 words after noon release.
UPCOMING: By 08/21/2025 12:00 p.m. EDT, Text, Photo
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NEW AND DEVELOPING
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US--FEDERAL RESERVE-POWELL
Powell to give his last Jackson Hole speech under watchful gaze of Wall Street and the White House
SUMMARY: Both Wall Street and the White House will be paying close attention to Fed Chair Jerome Powell's high-profile speech Friday at the Fed's annual economic symposium in Jackson Hole, Wyoming. It comes as mixed signals about the economy complicate the Fed's upcoming decision on interest rates. Weak data on the job market would suggest the Fed should cut rates. But concerns that inflation could move higher in the coming months make the case for the Fed to stay its current course. President Donald Trump has frequently demanded that the Fed lower rates, adding to the drama surrounding Powell's remarks.
WORDS: 1025 - MOVED: 08/21/2025 9:33 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b4095cd609a747337a98cce885912609&mediaType=text
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US--FEDERAL RESERVE-INDEPENDENCE
Why the Federal Reserve's independence matters
SUMMARY: President Donald Trump is calling on a Federal Reserve governor to resign over an accusation of mortgage fraud. It's the latest effort by his administration to exert greater control over one of the few remaining independent agencies in Washington. Federal Reserve governor Lisa Cook says she won't leave her post. Trump has repeatedly attacked the Fed's chair, Jerome Powell, for not cutting its short-term interest rate, and even threatened to fire him. Firing Powell or forcing out a governor would threaten the Fed's venerated independence, which has long been supported by most economists and Wall Street investors.
WORDS: 920 - MOVED: 08/21-2025 10:58 a.m. EDT
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US--RESULTS-WALMART
Walmart reports solid sales and profits as US tariffs worry some consumers
SUMMARY: Walmart is reporting higher profits and sales as it pulls in shoppers seeking low prices for groceries and other essentials. The nation's largest retailer also increased its annual profit and sales outlook on Thursday. Quarterly results from Walmart and other major U.S. retailers this week offer clues on how consumers are reacting to the possibility of tariff-related price increases. Walmart said in May that prices had started to increase in late April. But it said Thursday that it had introduced 7,400 price rollbacks, or temporary discounts, across the aisles in the latest quarter, which ended July 31.
WORDS: 658 - MOVED: 08/21/2025 8:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4cee0d4eeabe0dee84606a283033f5d3&mediaType=text
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FINANCIAL MARKETS
Wall Street slips again as Walmart helps pull S&P 500 toward a 5th straight loss
SUMMARY: U.S. stocks are slipping again, this time after the country's largest retailer reported profits that came up short of Wall Street's expectations. The S&P 500 dipped 0.3% Thursday and was on track for a fifth straight modest loss since setting an all-time high last week. The Dow Jones Industrial Average dropped 236 points, and the Nasdaq composite fell 0.1%. Walmart sank after reporting a weaker profit than analysts expected. Treasury yields inched higher in the final day of trading before the Federal Reserve's head is scheduled to give a highly anticipated speech. Wall Street hopes he'll hint at coming cuts to interest rates.
WORDS: 654 - MOVED: 08/21/2025 9:50 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:30c411cd18bf6a43cb787ac838b897f6&mediaType=text
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US--HOME SALES
US home sales rose in July as mortgage rates eased a bit and home prices grew more slowly
SUMMARY: Sales of previously occupied U.S. homes rose in July as homebuyers were encouraged by a modest pullback in mortgage rates, slowing home price growth and more properties on the market. Existing home sales rose 2% last month from June to a seasonally adjusted annual rate of 4.01 million units, the National Association of Realtors said Thursday. Sales edged up 0.8% compared with July last year. The latest sales figure topped the 3.92 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 25th consecutive month, but at a slower rate. The national median sales price edged up 0.2% in July from a year earlier to $422,400.
WORDS: 479 - MOVED: 08/21/2025 10:17 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4503868867cade5621d3884579b8b3b1&mediaType=text
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US--TRUMP-FRAUD LAWSUIT-APPEAL
Appeals court throws out massive civil fraud penalty against President Donald Trump
SUMMARY: An appeals court has thrown out the massive civil fraud penalty against President Donald Trump. A five-judge panel ruled Thursday in New York state's lawsuit accusing the businessman-turned-politician of exaggerating his wealth. The decision came seven months after the Republican returned to the White House. The decision in New York's mid-level Appellate Division altered a verdict that stood to cost Trump more than $515 million and rock his real estate empire. The New York attorney general's office has no immediate comment.
WORDS: 830 - MOVED: 08/21/2025 10:54 a.m. EDT
https://apnews.com/article/trump-fraud-lawsuit-appeal-db39d93feff322eeeeedbc1ff75ccaf3
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AS--CLIMATE-CHINA-SOLAR
China races to build world's largest solar farm to meet emissions targets
SUMMARY: Chinese officials have showcased what they claim will be the world's largest solar farm on the Tibetan plateau. It covers 610 square kilometers, or about 235 square miles, and is part of China's rapid solar expansion. A study published Thursday said China's carbon emissions fell 1% in the first half of the year, continuing a trend since March 2024. This decline suggests emissions may have peaked well ahead of the nation's goal of before 2030. However, experts say a sharper reduction is needed for China to achieve carbon neutrality by 2060. One challenge is aligning green energy distribution with industrial needs across the country.
WORDS: 902 - MOVED: 08/21/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ab119c39f226cfbeb2f5c1449747cae9&mediaType=text
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EU--US-EU-TRADE
The US and EU release a bare-bones account of their trade deal, but it's a work in progress
SUMMARY: American and European Union officials have released a bare-bones account of their trade deal that imposes a 15% import tax on 70% of European goods exported to the United States. But officials have left blank key areas such as wine and spirits as well as steel. And they've indicated that talks will continue on those and a slew of other important sectors. The U.S. and the EU have the largest bilateral trading relationship in the world, involving $2 trillion in annual trans-Atlantic business. European officials have had to defend the deal against dismay from businesses and member governments at the higher tariffs and criticism that the EU gave away too much.
WORDS: 766 - MOVED: 08/21/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f49188375527cac6a4d458b49f641bab&mediaType=text
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EU--UKRAINE-DRONE-FACTORY
A Ukrainian startup develops long-range drones and missiles to take the battle to Russia
SUMMARY: Ukraine's defense industry is gaining global attention for its innovative drone technology. Last September, a Ukrainian-made drone attacked a Russian ammunition depot more than 620 miles away. This marked a significant achievement for Fire Point, the company behind the drones. Iryna Terekh, head of production, said drones have given Ukraine an asymmetric advantage. Fire Point's FP-1 drones, capable of traveling up to 990 miles away, have been crucial in hitting Russian targets. Ukraine is rapidly becoming a hub for defense innovation, with many companies emerging to meet the demands of the ongoing conflict with Russia.
WORDS: 1282 - MOVED: 08/21/2025 9:13 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7201ab851544c394ee454407058b10ba&mediaType=text
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AS--PAKISTAN-CHINA
China and Pakistan foreign ministers agree to launch new economic corridor projects
WORDS: 326 - MOVED: 08/21/2025 7:37 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:49ac34d2f93664e1d6de229a55f4cd89&mediaType=text
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EU--GERMANY-ITALY-PIPELINE ATTACK
A Ukrainian suspected in the Nord Stream pipeline blasts is arrested in Italy
SUMMARY: German prosecutors have announced the arrest of a Ukrainian citizen suspected to be one of the coordinators of the 2022 Nord Stream gas pipeline explosions. The suspect, identified as Serhii K., was arrested in Italy's Rimini province. The explosions on September 26, 2022, damaged pipelines carrying Russian natural gas to Germany, intensifying tensions over the war in Ukraine. Russia has accused the U.S. of staging the explosions, a claim Washington denies. In 2023, German media reported a pro-Ukraine group was involved, but Ukraine rejected any involvement. German officials have expressed caution over these accusations.
WORDS: 495 - MOVED: 08/21/2025 7:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:40f17315bcd585b48cd6f88028047307&mediaType=text
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US--SMARTMATIC-LA COUNTY
Prosecutors link LA contract to Smartmatic 'slush fund' as voting tech firm battles Fox in court
SUMMARY: The voting technology company suing Fox News for defamation is now entangled in a widening bribery investigation. Federal prosecutors in Miami last year charged Smartmatic's co-founder Roger Pinate with bribing the elections chief in the Philippines in exchange for a contract there. In a new filing this month, prosecutors say Pinate diverted proceeds from a $300 million elections contract with Los Angeles County to a slush fund used to bribe foreign officials. Pinate has pleaded not guilty. Smartmatic has not been charged. Fox News is nonetheless using the allegations to question Smartmatic's business reputation. L.A. County maintains it was unaware of any illegal activity and that Smartmatic complied with contractual obligations.
WORDS: 1170 - MOVED: 08/21/2025 12:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:11f9b6163e73acec526ea3078f9b6045&mediaType=text
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