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 ALASKA TRUMP ENERGY-OIL FIELD TOUR

DESCRIPTION: The heads of Trump's Environmental Protection Agency, Department of Energy and the Interior Department travel to Alaska's North Slope to meet with community leaders and tour an oil production facility as part of Republican Gov. Mike Dunleavy's energy summit

UPCOMING: By 06/02/2025 7:00 p.m. EDT, Photo, Video, Text

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NEW AND DEVELOPING

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US--SUPREME COURT-WEAPONS BAN

Supreme Court won't hear challenge to Maryland assault weapons ban

SUMMARY: A split Supreme Court is declining to hear a challenge to state bans on assault weapons, semiautomatic rifles that are popular among gun owners and that have also been used in multiple mass shootings. The justices on Monday turned down a case against a decade-old Maryland law similar to those in several other states. The decision comes three years after the high court handed down a landmark ruling that expanded Second Amendment rights. Gun advocates and attorneys for Maryland disagree over whether the AR-15 and similar weapons are protected by the Second Amendment.

WORDS: 603 - MOVED: 06/02/2025 10:20 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:0ce9bfd44c9e6696d7fd8f69af699152&mediaType=text

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AS--CHINA-US-TRADE

China says US moves on computer chips and student visas 'seriously violate' tariffs truce

SUMMARY: China has blasted the U.S. for issuing AI chip export control guidelines, stopping the sale of chip design software to China, and planning to revoke Chinese student visas. The Commerce Ministry said the moves "seriously violate the consensus" reached at talks last month in Geneva when the nations agreed to radically reduce astronomically high tariffs on each other's exports. China threatened unspecified retaliation in the statement issued Monday. Both countries are in a race to develop advanced technologies such as artificial intelligence, with Washington seeking to curb China's access to the most advanced computer chips.

WORDS: 580 - MOVED: 06/02/2025 10:07 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:2ae671996444c9cd64d635d1b832a340&mediaType=text

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US-MED--BE WELL-AT-HOME TESTS

At-home health tests are here. But they aren't always the best option

SUMMARY: Self-administered at-home tests are available for everything from thyroid function to HIV to cervical cancer. The tests can make it easier for people to access health care and can be helpful for those who have extreme anxiety about sensitive or invasive medical exams. But experts warn that most of the tests cannot replace an actual in-person visit. Many at-home tests involve a patient collecting the sample themselves and sending it off to a lab. If you have symptoms of what you're testing for, go to the doctor.

WORDS: 786 - MOVED: 06/02/2025 10:04 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:38e986c615b2d5cdde0c21e90bc80103&mediaType=text

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ML--IRAN-NUCLEAR

UN, Iran and Egypt meet to discuss Iran's nuclear program as enrichment continues

SUMMARY: Iranian, Egyptian and U.N. leaders have met to discuss Iran's nuclear program after the U.N. nuclear watchdog agency said Iran is increasing its stockpile of uranium enriched to near weapons-grade levels. The confidential report emerged amid U.S.-Iran talks. The talks are aimed at attempting to limit Iran's nuclear program in exchange for lifting some of the crushing economic sanctions that the U.S. has imposed on Iran. The sanctions have strained relations for almost 50 years. Iran's foreign minister met Monday with Egypt's president and the International Atomic Energy Agency director. The IAEA chief says they hope the report would provide "an incentive for a peaceful solution."

WORDS: 625 - MOVED: 06/02/2025 10:03 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9d90d245584b9229bffb37dc8ee1a7d0&mediaType=text

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FINANCIAL MARKETS

Wall Street tiptoes into June amid mixed trading as oil prices jump

SUMMARY: U.S. stocks are drifting, as momentum slows following their sprint through May, which was their best month since 2023. The S&P 500 fell 0.1% in early trading Monday. The Dow Jones Industrial Average dipped 149 points, and the Nasdaq composite rose 0.2%. Nucor, Steel Dynamics and other U.S. steel stocks jumped after President Donald Trump said he would raise tariffs on imports of steel and aluminum. But Ford, General Motors and other big users of the metals fell. Some of the strongest action was in the oil market, where the price of crude jumped roughly 4%. Treasury yields climbed again in the bond market.

WORDS: 640 - MOVED: 06/02/2025 9:47 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:57207d7b06ab066c191415a126813052&mediaType=text

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EU--TARIFFS-STEEL

EU readying 'countermeasures' if tariffs deal with US crumbles

WORDS: 407 - MOVED: 06/02/2025 9:37 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e7f8ac8c69d90cd2564699f1493fa0e5&mediaType=text

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EU--BRITAIN-DEFENSE

Britain is getting a defense boost aimed at sending a message to Moscow, and to Trump

SUMMARY: The U.K. will build new nuclear-powered attack submarines and create an army ready to fight a war in Europe as part of a boost to military spending. It's designed to senf a message to Moscow -- and Washington. The government announced the moves Monday in response to a strategic defence review , led by former NATO Secretary General George Robertson, that it says is the most consequential since the end of the Cold War. Prime MInister Keir Starmer says Britain faces greater threats than it has for many years. He said U.K. defense spending will hit 2.5% of GDP by 2027. But a goal of 3% before 2034 is an "ambition," rather than a firm promise.

WORDS: 834 - MOVED: 06/02/2025 9:03 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:347608084fa80b10aa212a7f006bd053&mediaType=text

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EU--POLAND-PRESIDENTIAL ELECTION-TAKEAWAYS

The election of a Trump ally in Poland could alter EU and Ukraine policies

SUMMARY: Poland has elected Karol Nawrocki, a nationalist conservative, as its next president -- a win that signals a turn to the right in one of the European Union's member states. Nawrocki could strain ties with Brussels while strengthening Warsaw's relationship with the administration of Donald Trump. On Ukraine, Nawrocki supports defense aid but opposes NATO membership and has echoed Trump in criticizing President Volodymyr Zelenskyy. The currency weakened slightly on news of the victory, reflecting investor concerns about rising political gridlock and the future of EU funding tied to judicial reforms.

WORDS: 844 - MOVED: 06/02/2025 7:42 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:b6b38c1282d5fa1d45a71b07a4be7f64&mediaType=text

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US--TRUMP-DEFICITS

Can Trump fix the national debt? Republican senators, many investors and even Elon Musk have doubts

SUMMARY: President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won't bury the federal government in debt with his multitrillion-dollar tax breaks package. The response so far from financial markets has been skeptical as Trump seems unable to trim deficits as promised. The tax and spending cuts that passed the House last month would add $5.1 trillion to the national debt in the coming decade if they are allowed to continue. That's according to the Committee for a Responsible Financial Budget, a fiscal watchdog group.

WORDS: 1427 - MOVED: 06/02/2025 7:16 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:31e5857c9e94deaa11a176bbec538831&mediaType=text

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ML--SYRIA-ECONOMY

Damascus stock exchange reopens after 6-month closure

SUMMARY: Trading has resumed on the Damascus Securities Exchange after a six-month closure, as Syria's new leaders attempt to shore up the country's battered economy and begin rebuilding after nearly 14 years of civil war. The stock exchange had closed during the chaotic days leading up to the ouster of former President Bashar Assad in a lightning rebel offensive. The move to reopen comes as international restrictions on Syria's financial systems begin to ease. The United States and Europe both last month announced the lifting of a wide raft of sanctions that had been slapped on Syria under the Assad dynasty's rule.

WORDS: 272 - MOVED: 06/02/2025 6:50 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6ab7d5bb528aabb907187c3f2bfd8b3b&mediaType=text

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AS--SOUTH KOREA-ELECTION-HOT TOPICS

South Korean presidential election roiled by coffee beans, Chanel bags and room salon

SUMMARY: South Korea's presidential race has devolved into personal attacks and petty disputes, drowning out meaningful policy debate after Yoon Suk Yeol was ousted over his martial law fiasco. The mudslinging between liberal frontrunner Lee Jae-myung and conservative opponent Kim Moon Soo escalated during the final presidential debate, with Lee branding Kim as "Yoon Suk Yeol's avatar" and Kim denouncing Lee as a "harbinger of monster politics." Regardless of who wins Tuesday, the next president will face substantial challenges, including Donald Trump's aggressive trade policies, North Korea's advancing nuclear program and a stark political divide at home.

WORDS: 917 - MOVED: 06/02/2025 2:16 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:70506148ad14b875b94a848b924fa2a9&mediaType=text

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ENT--FILM-BOX OFFICE

'Lilo & Stitch' passes 'Sinners' to become 2nd highest grossing film of 2025

SUMMARY: "Lilo & Stitch" has once again placed first on the box office charts. According to studio estimates Sunday, the hybrid live-action Disney movie added $63 million in domestic ticket sales. With $280.1 million total, it surpassed "Sinners" to become the second-highest grossing film of the year. Second place went to "Mission: Impossible--The Final Reckoning" with $27.3 million. Newcomer "Karate Kid: Legends" opened in third with $21 million. "Final Destination: Bloodlines" landed in fourth place with $10.8 million in its third weekend, while the new horror movie "Bring Her Back" rounded out the top five with $7.1 million.

WORDS: 712 - MOVED: 06/02/2025 12:07 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4c60a0754654fe8a8e785208fc8b7582&mediaType=text

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