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 CRYPTO-KIDNAPPING
DESCRIPTION: Hearing in Manhattan criminal court for two crypto investors charged with kidnapping and torturing an Italian man for his Bitcoin in an upscale Manhattan townhouse. On merits.
UPCOMING: By 07/15/2025 3:30 p.m. EDT, Text, Photo
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NEW AND DEVELOPING
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US--CONSUMER PRICES
The tariff-driven inflation that economists feared begins to emerge
SUMMARY: Inflation rose last month to its highest level in four months as the cost of gas, food, and groceries rose, reversing several months of cooling price pressures. The Labor Department said that consumer prices rose 2.7% in June from a year earlier, up from an annual increase of 2.4% in May. On a monthly basis, prices climbed 0.3% from May to June, after rising just 0.1% the previous month. Worsening inflation poses a political challenge for President Donald Trump, who promised during last year's presidential campaign to immediately lower costs.
WORDS: 1189 - MOVED: 07/15/2025 10:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:8842d6ebca9d1870983e678e578d2091&mediaType=text
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US--TRUMP-ENERGY
Trump and Sen. Dave McCormick team up to promote energy investments in Pennsylvania
SUMMARY: President Donald Trump and Sen. David McCormick of Pennsylvania plan to announce $70 billion of energy investments at a new summit focusing on energy and innovation. The Republican president has repeatedly pledged U.S. "energy dominance" in the global market. Pennsylvania is a swing state critical to Trump's wins in 2016 and 2024, and is at the forefront of his energy agenda. Coal is a key part of that and is a big industry in the state. McCormick says Tuesday's summit is meant to bring together top energy companies and artificial intelligence leaders, global investors and labor behind Trump's energy policies. Participating companies include Blackstone, Bridgewater, SoftBank, Amazon Web Services, BlackRock and ExxonMobil.
WORDS: 712 - MOVED: 07/15/2025 10:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b11f7f4053bac2603664ffbd1dc4c6da&mediaType=text
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FINANCIAL-MARKETS
Nvidia leads Wall Street as US stocks drift around their records
SUMMARY: U.S. stocks are drifting around their record levels in mixed trading. The S&P 500 added 0.1% Tuesday and was nearing its all-time high, which was set on Thursday. The Dow Jones Industrial Average fell 167 points, and the Nasdaq composite rose 0.6%. Tech stocks led the way after Nvidia said the U.S. government has assured it that licenses will be granted for its H20 chip again and that deliveries will hopefully begin soon. Bank stocks were mixed following a spate of profit reports. Treasury yields rose after a report said inflation accelerated last month from May, perhaps because of President Donald Trump's tariffs.
WORDS: 499 - MOVED: 07/15/2025 10:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ae7c307ff31e5dc388b131e480030555&mediaType=text
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CONSUMER WATCHDOG-CRISIS
Employees at the nation's consumer financial watchdog say it's become toothless under Trump
SUMMARY: Once a powerful watchdog for financial wrongdoing, the Consumer Financial Protection Bureau has seen its enforcement efforts grind to a halt under the Trump administration. Employees report being unable to perform their duties, and investigations into financial misconduct are being undone. Financial institutions like Navy Federal Credit Union and Toyota Financial have had penalties rescinded, leaving harmed customers without restitution. The new budget law passed by Congress earlier this month cuts the CFPB's funding by roughly half, meaning the bureau will be forced into mass layoffs.
WORDS: 970 - MOVED: 07/15/2025 10:07 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0aa4ec0d52429425650cf62f642aa245&mediaType=text
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EU--EUROPE-FOREIGN MINISTERS
EU ministers ask for more info from Israel on their new deal to ramp up aid to Gaza
SUMMARY: The European Union is working on a new deal with Israel to deliver humanitarian aid to Gaza. EU foreign ministers are meeting Tuesday in Brussels to discuss the agreement. It aims to provide food and fuel to Gaza's 2.3 million residents after more than 21 months of war. EU foreign policy chief Kaja Kallas emphasized the need for effective implementation and called for a ceasefire. Ministers will also discuss Iran's nuclear program, tensions in Georgia and Moldova and new sanctions on Russia as the EU prepares its 18th sanctions package.
WORDS: 769 - MOVED: 07/15/2025 10:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3fe69daadec18eda2f47bbfd566e775a&mediaType=text
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US--TRUMP-CONSPIRACY THEORIES
Trump urged supporters to see conspiracies everywhere. With Epstein, that's coming back to haunt him
SUMMARY: President Donald Trump's strategy has been to downplay the uproar over the Jeffrey Epstein sex trafficking case as his supporters demand the Justice Department release much-hyped records in the investigation. Trump's problem is the nothing-to-see-here approach doesn't work for those who've learned from him they must not give up until the government's deepest, darkest secrets are exposed. Last week, the Justice Department and the FBI abruptly walked back the notion there's an Epstein client list of elites who participated in the wealthy New York financier's trafficking of underage girls. The Republican president quickly defended Attorney General Pam Bondi, but the online backlash was swift.
WORDS: 1264 - MOVED: 07/15/2025 10:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a143076353acbc1193cb9697e7fc4a90&mediaType=text
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US-BANK EARNINGS
JPMorgan posts strong second quarter numbers, though Dimon warns of tariff, geopolitical risk
SUMMARY: JPMorgan's second-quarter profit fell to $14.2 billion in second quarter, but the New York bank beat Wall Street expectations. CEO Jamie Dimon touted another strong performance by the bank, particularly its markets division, where revenue rose $8.9 billion. JPMorgan earned $4.96 per share, adjusted for one-time items, beating the $4.48 that analysts were forecasting, but down from last year's $6.12 per share. Total managed revenue hit $45.7 billion, also beating expectations but below last year's $51 billion. Wall Street was expecting revenue just under $44 billion.
WORDS: 754 - MOVED: 07/15/2025 9:07 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:224f74e1c3d013d8848da377bd8f3e53&mediaType=text
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US--CONSUMER WATCHDOG-CRISIS-DROPPED CASES
Capital One, Walmart: A look at some of the consumer cases dropped by the CFPB under Trump
SUMMARY: In the nearly six months since the Trump administration has had control of the Consumer Financial Protection Bureau, the bureau's leadership has focused almost exclusively on rolling back any punishments, fines and penalties doled out against companies during the Biden administration. In some cases, companies that were supposed to refund their customers or pay a penalty for unfair or deceptive practices are no longer bound to make their customers whole. Other companies facing charges of fraud of deceptive practices saw their lawsuits dropped. Companies that got reprieves include Capital One, Walmart and Navy Federal Credit Union.
WORDS: 546 - MOVED: 07/15/2025 8:23 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a35873d36fed83f5db76feaa844a1fb8&mediaType=text
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EU--BRITAIN-ECONOMY
UK Treasury chief will slash financial services red tape to boost investment
SUMMARY: U.K. Treasury chief Rachel Reeves has announced plans to cut regulations for banks and finance firms to boost the economy. Speaking Tuesday, she said the move would allow for "informed risk-taking" to address Britain's sluggish growth. Reeves aims to roll back rules introduced after the 2008 financial crisis, including those separating retail and investment banking. The government has faced criticism after recent policy reversals, including scrapping welfare cuts and reinstating heating subsidies for retirees. The U-turns have strained finances, raising concerns about potential tax increases despite promises to avoid them.
WORDS: 427 - MOVED: 07/15/2025 8:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d9e32246f9f68b7a75fbc0c1c0161acf&mediaType=text
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US-NVIDIA-CHINA
After meeting with Trump, Nvidia CEO says the sale of AI chip is back on in China
SUMMARY: Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used for artificial intelligence to China. The company shared the news in a blog post late Monday and Huang also spoke about it on China's state-run CGTN television network. The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia said the tighter export controls would cost it an extra $5.5 billion. Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions, arguing they hinder U.S. competition in a leading edge sector in a major technology market.
WORDS: 478 - MOVED: 07/15/2025 7:32 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:91588c36559bc881b8e010a9ed95cf0a&mediaType=text
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US--CONSUMER WATCHDOG-CRISIS
Employees at the nation's consumer financial watchdog say it's become toothless under Trump
SUMMARY: Once a powerful watchdog for financial wrongdoing, the Consumer Financial Protection Bureau has seen its enforcement efforts grind to a halt under the Trump administration. Employees report being unable to perform their duties, and investigations into financial misconduct are being undone. Financial institutions like Navy Federal Credit Union and Toyota Financial have had penalties rescinded, leaving harmed customers without restitution. The new budget law passed by Congress earlier this month cuts the CFPB's funding by roughly half, meaning the bureau will be forced into mass layoffs.
WORDS: 1539 - MOVED: 07/15/2025 7:27 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:fef24aa0d7fdf46967df8041586743bd&mediaType=text
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ML--IRAQ-OIL FIELD ATTACK
Iraqi oil field on fire after drone strike during attacks in Kurdish region
WORDS: 452 - MOVED: 07/15/2025 7:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7f00523af694254b43079ea0511d5278&mediaType=text
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AS--INDIA-TESLA
Tesla debuts in India, but its cars likely cost too much for most Indians
SUMMARY: Tesla has opened its first showroom in India, marking the electric vehicle maker's long-anticipated debut in the world's third-biggest automotive market. The showroom opening Tuesday in Mumbai will serve as Tesla's flagship retail and experience center as the company gears to introduce its EV lineup in India. Tesla's entry comes after years of delays and policy friction. It marks a pivotal expansion in a fast-growing consumer base as global sales are plunging and the company faces challenges in its two core markets, China and the U.S. For India, it signals rising investor confidence and strengthens its move towards clean mobility.
WORDS: 754 - MOVED: 07/15/2025 7:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:5699547c6b70fefa9cc19b3f90c85217&mediaType=text
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AS--JAPAN-NISSAN
Nissan closes its Oppama plant in Japan to cut costs
WORDS: 485 - MOVED: 07/15/2025 6:51 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0996180220f377b7a880cea69a6b970c&mediaType=text
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AS--CHINA-AUSTRALIA
Australian Prime Minister complains to President Xi about Chinese live-fire exercises
SUMMARY: Australian Prime Minister Anthony Albanese has raised concerns with Chinese President Xi Jinping over a Chinese naval live-fire exercise near Australia. The February exercise forced commercial flights to reroute and showcased China's military strength. Albanese called the meeting on Tuesday constructive, though he expressed concerns about the exercise's notice and execution. Xi compared the drills to Australia's own military exercises in disputed waters. The leaders also discussed trade relations, agreeing to review their free trade deal. Albanese reaffirmed Australia's support for the "one-China" policy but did not have deeper discussions on Taiwan or Chinese foreign investment in Australia.
WORDS: 737 - MOVED: 07/15/2025 6:39 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:79143ddb0cb896a12c6a4fdbd80dbaf6&mediaType=text
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AS--HONG KONG-CAR-HAILING
Hong Kong plans to regulate Uber and other online ride-hailing services
WORDS: 488 - MOVED: 07/15/2025 6:22 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:5803a3fc42c8c0fdf03104a9e869b300&mediaType=text
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US--MEDIA-NEXTDOOR-NEWS
Nextdoor social site, looking for a revival, pins hopes on partnership with local news providers
SUMMARY: The neighborhood social site Nextdoor is hoping for a revival by turning to local news providers. As part of a redesign of the social media site, Nextdoor is partnering with more than 3,500 local news outlets to use their material. Publishers are hoping more people seeing their work will help an industry that has suffered for more than two decades. Nextdoor wants more of its users, who they call "neighbors," to view the site as essential and visit more often. Nextdoor also is beefing up its ability to alert people to bad weather or community dangers and is using AI to boost its recommendations for local goods and services.
WORDS: 1249 - MOVED: 07/15/2025 5:01 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:c7e12d6fe9336924eb6c7f18e54e4a6a&mediaType=text
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US--EMERGENCY DISPATCH TECHNOLOGY
A Florida county leads the way with a high-tech 911 system that improves emergency response
SUMMARY: Collier County, Florida, uses one of the most advanced 911 systems in the U.S., allowing callers to send texts and videos. County Sheriff Kevin Rambosk has prioritized upgrading to a Next Generation 911 system to improve emergency response. So-called NG911 systems use modern technology like geotracking, reducing response times and enhancing safety. However, many U.S. regions still rely on outdated systems. Collier County has also partnered with other areas, like Charleston, South Carolina, to handle calls during emergencies. Experts stress the need for federal funding to help more communities upgrade to NG911, ensuring better disaster response and everyday safety nationwide.
WORDS: 834 - MOVED: 07/15/2025 4:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f84c63f7efb6896e4a2c6fa5ece372ac&mediaType=text
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CHINA-ECONOMY
China's economy grows at a robust pace as trade truce eases pressure from US tariffs
WORDS: 538 - MOVED: 07/15/2025 4:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:366d7a4a8a652f1a4aa536728439f5aa&mediaType=text
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