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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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 08/14/2025 12:00 p.m. EDT, Photo, Text
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TAYLOR SWIFT-GOOD FOR BUSINESS
DESCRIPTION: Taylor Swift's upcoming album release and her love of all things orange isn't lost on her fans - or brands that are seeking a tailwind. After Swift gave notice of an upcoming album, corporations ranging from United Airlines to Olive Garden began posting various orange hued memes on their own social media accounts. Swift's tour appearances have become economic events. The singer's Eras Tour two years ago was the first to cross the billion-dollar mark, according to Pollstar's 2023 year-end charts. Cities and their surrounding areas registered an economic boosts with thousands of fans making a pilgrimage, spending money at hotels, restaurants and elsewhere. Companies are no longer waiting to capitalize on Swift's gravitational pull.
UPCOMING: By 08/14/2025 11:00 p.m. EDT, Photo, Text
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JAPAN-ECONOMY
DESCRIPTION: Japan reports its GDP for the April-June quarter as worries grow about the impact of President Donald Trump's tariffs on the economy.
UPCOMING: By 08/14/2025 11:00 p.m. EDT, Photo, Text
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NEW AND DEVELOPING
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US-PRODUCER-PRICES
U.S. producer prices surge in July as Trump tariffs push costs higher
SUMMARY: U.S. wholesale inflation surged unexpectedly last month as President Donald Trump's sweeping taxes on imports are pushing costs higher. The Labor Department reported Thursday that its producer price index -- which measures inflation before it hits consumers -- was up 0.9% last month from June and 3.3% from a year earlier. The numbers were much higher than forecasters had expected.
WORDS: 782 - MOVED: 08/14/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0f6613cc6f9e1b76939fdcf2c9ad8d03&mediaType=text
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OLY--LOS ANGELES-NAMING RIGHTS
LA Olympics to sell naming rights to some venues in game-changing deal for 2028
SUMMARY: Organizers of the Los Angeles Olympics will sell naming rights for a handful of its venues in deals expected to bring multiple millions of dollars to the 2028 Games while breaking down the International Olympic Committee's long-sacrosanct policy of keeping brand names off its stadiums. The organizing committee says contracts are already in place with two of its founding partners, Honda and Comcast. LA28 chairman and CEO Casey Wasserman tells The Associated Press that revenue from the deals goes above what's in LA's current $6.9 billion budget.
WORDS: 590 - MOVED: 08/14/2025 10:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7dbe42386216eadd935776ce151c4383&mediaType=text
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US--UNEMPLOYMENT BENEFITS
US applications for jobless benefits fell last week and remain in historically healthy range
SUMMARY: The number of Americans filing for jobless benefits fell modestly last week, remaining in the historically low range since the U.S. economy emerged from the COVID-19 pandemic. Applications for unemployment benefits for the week ending Aug. 9 fell by 3,000 to 224,000, the Labor Department reported Thursday. That's below the 230,000 new applications that economists had forecast. Weekly applications for jobless benefits are seen as a proxy for U.S. layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 for the past few years. The total number of Americans collecting unemployment benefits for the previous week of Aug. 2 fell by 15,000 to 1.95 million.
WORDS: 523 - MOVED: 08/14/2025 9:58 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f68611dbeceb1733a9e934f3e19e31c1&mediaType=text
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FINANCIAL MARKETS
US stocks dip after disappointing inflation data dents hopes for coming cuts to interest rates
SUMMARY: Wall Street is edging back from its record heights after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. The S&P 500 fell 0.2% Thursday from its all-time high. The Dow Jones Industrial Average dipped 104 points, and the Nasdaq composite shaved 0.1% off its own record. The hotter-than-expected inflation report forced traders to second guess the widespread consensus that the Federal Reserve will deliver some relief next month by cutting interest rates. Tapestry, the company behind Coach and Kate Spade New York, tumbled after saying tariffs could erode its profits.
WORDS: 567 - MOVED: 08/14/2025 9:57 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:02e8aa1fa772ad3570249dc81f917325&mediaType=text
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US--SOCIAL SECURITY
Social Security has existed for 90 years. Why it may be more threatened than ever
SUMMARY: President Franklin D. Roosevelt signed the Social Security Act into law 90 years ago this week, aiming to provide economic stability for older Americans. Today, the program supports nearly 69 million people monthly but faces significant challenges. Social Security is projected to run out of money to pay full benefits by 2034. Recent legislation and tax changes have accelerated this timeline. Discussions about privatizing Social Security have resurfaced, with some experts suggesting benefit reductions for wealthier retirees. Public confidence in the program's future is waning, and debates continue about potential reforms to ensure its sustainability.
WORDS: 1080 - MOVED: 08/14/2025 9:46 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9552a6b2d862bda0f553cc5d349ba469&mediaType=text
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EU--LITHUANIA-CHINA
The EU urges China to lift 'unjustified' sanctions on Lithuanian banks
WORDS: 486 - MOVED: 08/14/2025 9:40 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e7c9c77eac0ff192f1e1a780ee1bbbf7&mediaType=text
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US--MARIJUANA DISPENSARIES-SCHOOLS
New York allowed pot shops to open too close to schools. Now they might have to move
SUMMARY: New York's legal marijuana agency allowed dozens of cannabis dispensaries to open too close to schools after regulators misread state law and are now pushing for a legislative fix to prevent the pot shops from having to relocate. The high drama was disclosed by the Office of Cannabis Management last month. The state had been meeting a requirement that weed stores be over 500 feet away from the nearest school. But regulators were calculating that distance by measuring from the door of the school to the door of the business. They determined later that they should have instead been measuring from a school's' property line.
WORDS: 650 - MOVED: 08/14/2025 9:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f2a5f317ceebb731e2190fb8ff0b5529&mediaType=text
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AF--SOUTH AFRICA-NATIONAL TALKS
South Africa starts a soul-searching 'national dialogue' about poverty, inequality and other issues
SUMMARY: South Africans is starting a "national dialogue" hat is meant to bring all sectors of society together to discuss the country's pressing issues and find solutions. The talks were announced by President Cyril Ramaphosa in June. They are expected to include political parties, civic groups and members of the public. They begin Friday with a two-day convention in the capital Pretoria. There will be further public discussions across the country. South Africa faces many challenges, including high levels of poverty and inequality and an unemployment rate of more than 30%. Some parties are boycotting the talks, questioning the cost and if they will result in significant changes.
WORDS: 656 - MOVED: 08/14/2025 8:52 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:846cff8a6ea4a900afa38bb0d3d9c22a&mediaType=text
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EU--BRITAIN-ECONOMY
UK growth slows in second quarter but comes in higher than expected
WORDS: 249 - MOVED: 08/14/2025 5:50 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2fabf91d35ca407c41379aa1f1f3ea2c&mediaType=text
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AS--CHINA-EU-SANCTIONS
China targets 2 Lithuanian banks in response to new EU sanctions
WORDS: 198 - MOVED: 08/14/2025 5:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cc564700a742eca388b4d6497f9a772c&mediaType=text
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ONE TECH TIP-KEEPING YOUR COOL
One Tech Tip: This summer, don't let your phone overheat
WORDS: 486 - MOVED: 08/14/2025 3:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b9065ad2104f70ef39a61f8e4777608d&mediaType=text
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