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 02/27/2025 12:00 p.m. EST, Photo, Text
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US EGG PRICES
DESCRIPTION: Egg producers blame the ongoing bird flu outbreak for driving prices up to record highs, but some believe the giant companies that dominate the market are taking advantage of the situation to profit handsomely while every egg buyer feels pressure on their budgets. By Josh Funk With file photos of eggs in grocery stores.
UPCOMING: By 02/27/2025 2:00 p.m. EST, Photo, Text
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US-CONSUMERS-ECONOMIC BLACKOUT
DESCRIPTION: A grassroots organization "dedicated to economic resistance, government accountability and corporate reform" is calling on like-minded Americans not to spend any money for 24 hours as a way to express discontent with a range of policies and to demonstrate the power of consumers. The People's Union says Friday's "Economic Blackout" is aimed primarily at the nation's biggest retail companies. The group has scheduled future weeklong boycotts of Amazon, Nestle, Walmart and General Mills.
UPCOMING: By 02/27/2025 2:00 p.m. EST, Photo, Text
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SPAIN MIGRATION ECONOMY
DESCRIPTION: 900 words
UPCOMING: By 02/27/2025 11:00 p.m. EST, Photo, Video, Text, Interactive
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NEW AND DEVELOPING
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US--TRUMP-TARIFFS
Trump plans tariffs on Mexico and Canada for Tuesday, while doubling existing 10% tariffs on China
SUMMARY: President Donald Trump says he plans to impose tariffs on Canada and Mexico starting Tuesday, in addition to doubling the 10% universal tariff charged on imports from China. Posting on Truth Social on Thursday, Trump says illicit drugs such as fentanyl are being smuggled into the United States at "unacceptable levels" and import taxes would force other countries to crackdown on the trafficking. The Republican president says, "We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect."
WORDS: 499 - MOVED: 02/27/2025 10:20 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:71761a2894e13a050717afda4fd8131a&mediaType=text
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US-TRUMP-CABINET-LABOR
Senate committee recommends Lori Chavez-DeRemer's confirmation as Trump's labor secretary
SUMMARY: A Senate committee has advanced the nomination of President Donald Trump's choice to head the Department of Labor. Members of the Senate Committee on Health, Education, Labor & Pensions voted 13-9 on Thursday to recommend Lori Chavez-DeRemer's confirmation by the full Senate. The former Republican congresswoman from Oregon is widely viewed as comparatively pro-labor. During her confirmation hearing, Republican senators grilled Chavez-DeRemer about her past support in Congress for pro-union legislation. The Labor Department is one of the federal agencies named in lawsuits over moves by Elon Musk's cost-cutting team to access U.S. government data systems. The department enforces regulations related to wages, workplace safety, and worker rights.
WORDS: 516 - MOVED: 02/27/2025 10:17 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:119a7e3dde1cb9553174d1bce37871c5&mediaType=text
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FINANCIAL MARKETS
Stock market today: Wall Street slips after Nvidia swings to a loss
SUMMARY: U.S. stock indexes are slipping, and Wall Street remains subdued following a rough run where worries about the economy rattled the market. The S&P 500 fell 0.4% in Thursday morning trading after giving up an early, modest gain. It's coming off a painful stretch where weaker-than-expected reports on the U.S. economy knocked the index off its record set last week. The Dow Jones Industrial Average added 103 points, and the Nasdaq composite fell 1.1%. Indexes swung lower with superstar stock Nvidia. After initially rising following a better-than-expected profit report, Nvidia quickly backslid to a loss. Treasury yields swung following President Donald Trump's latest tariff announcement.
WORDS: 656 - MOVED: 02/27/2025 10:11 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:91a42e60248e389f1650bd744e6d9a2e&mediaType=text
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EU--ROMANIA-ANDREW TATE
Andrew Tate, who faces rape and trafficking charges in Romania, has left for the US
SUMMARY: Influencer brothers Andrew and Tristan Tate have left Romania for the U.S. after authorities lifted travel restrictions imposed as part of a legal case. The brothers are charged with human trafficking in Romania. They were arrested in late 2022 and formally indicted last year on charges they participated in a criminal ring that lured women to Romania, where they were sexually exploited. Andrew Tate was also charged with rape. They deny the allegations. In December, a court ruled that the case couldn't go to trial because of multiple legal and procedural irregularities on the part of the prosecutors. But the case remained open, and there is also another ongoing investigation against them in Romania.
WORDS: 670 - MOVED: 02/27/2025 10:00 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:04749679b90fad821c2b945955f5b145&mediaType=text
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US--PHILANTHROPY-LA-FIRES-NYC
NYC entertainers and creatives feel connected to LA. That link is driving cross-country fire relief
SUMMARY: Disasters tend to elicit widespread support for those impacted and the weeks since Los Angeles' most destructive wildfires are proving no different in that regard. But the unique relationship between the United States' two largest cities has been evident in the support from New York's entertainment, creative and hospitality industries. Motivated in part by their professional ties, insiders from across those fields are hosting comedy nights, benefit concerts and clothing drives. A March 3 stand-up event organized by Comic Relief US includes Jon Stewart, John Oliver and Ramy Youssef. Michele Ganeless, the antipoverty charity's CEO, says everyone has their own relationship to the cause but "obviously, in the entertainment community and the comedy community, there is a New York-LA connection."
WORDS: 1064 - MOVED: 02/27/2025 9:53 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:30ccc9421d462660f31b6ed826768cf8&mediaType=text
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US-ECONOMY-GDP
Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarter
SUMMARY: The American economy grew at a solid 2.3% annual rate the last three months of 2024, supported by a burst of year-end consumer spending, the government said, leaving unchanged its initial estimate of fourth-quarter growth. The outlook for 2025 is cloudier as President Donald Trump pursues trade wars, cutbacks in the federal workforce and mass deportations. The Commerce Department reported Thursday that growth in gross domestic product -- the nation's output of goods and services -- decelerated from a 3.1% pace in July-September 2024. For all of last year, the economy grew 2.8%, compared to 2.9% in 2023.
WORDS: 556 - MOVED: 02/27/2025 9:30 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:86a09ee9948419d066c4b39959e32cd3&mediaType=text
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US--UNITED STATES-ISRAEL
Israeli Finance Minister Smotrich will meet with Treasury Secretary Bessent in Washington
SUMMARY: Israeli Finance Minister Bezalel Smotrich will head to Washington in the coming days to meet with U.S. Treasury Secretary Scott Bessent and discuss economic and political cooperation. Smotrich's spokesperson said Thursday they'll meet around the weekend of March 8-9. Smotrich is a key partner in Prime Minister Benjamin Netanyahu's governing coalition. Smotrich supports the reoccupation of Gaza, the rebuilding of Jewish settlements that were removed in 2005 and what he describes as the voluntary migration of large numbers of Palestinians out of the territory. Smotrich comes to the U.S. after President Donald Trump canceled sanctions against extremist Israeli settlers accused of violence against Palestinians in the Israeli-occupied West Bank.
WORDS: 573 - MOVED: 02/27/2025 9:25 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:d16d119cbe968dfda9b569e8539f70af&mediaType=text
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UNEMPLOYMENT BENEFITS
Number of Americans filing for unemployment benefits rises to 242,000, highest level in 3 months
SUMMARY: Applications for U.S. jobless benefits rose to a three-month high last week but remained within the same healthy range of the past three years. The number of Americans filing for jobless benefits rose by 22,000 to 242,000 for the week ending Feb. 22, the Labor Department said Thursday. Analysts projected that 220,000 new applications would be filed. Weekly applications for jobless benefits are considered a proxy for layoffs. The four-week average, which evens out some of the week-to-week volatility, climbed by 8,500 to 224,000. The total number of Americans receiving unemployment benefits for the week of Feb. 15 fell by 5,000 to 1.86 million.
WORDS: 519 - MOVED: 02/27/2025 9:12 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:a4b9beab0c8a16c374ed5492f02a61f6&mediaType=text
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EU--EUROPE-US-TRADE
EU pushes back hard against Trump tariff threats and his caustic comments that bloc is out to get US
SUMMARY: The European Union is insisting that the 27-nation bloc is not out to undermine the United States as U.S. President Donald Trump put it. The EU says instead that the bloc was the world's largest free market that has created an economic windfall for U.S. companies working on and with the continent. The bloc also said that it would vigorously fight a wholesale tariff of 25% on all EU products headed for the United States. Thursday's EU pushback came after Trump told reporters that "the European Union was formed in order to screw the United States.
WORDS: 658 - MOVED: 02/27/2025 8:58 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:e799b44cbaf81b19c37a57d7fd55ee6d&mediaType=text
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US--PHILANTHROPY-FOUNDATIONS
MacArthur Foundation to increase giving for two years in response to 'crisis'
SUMMARY: The John D. and Catherine T. MacArthur Foundation will increase its giving over the next two years. Its president John Palfrey said the Trump administration's freeze on federal foreign aid and the now-suspended freeze on federal grants has created a crisis for the nonprofit sector. The MacArthur Foundation will increase giving from 5% of its endowment to at least 6% for the next two years. The Chicago-based foundation is best known for its "genius" fellowships. Freedom Together Foundation, formerly called the JBP Foundation, also announced Tuesday that it would double its grantmaking to 10% of its endowment in response to the Trump administration's policies.
WORDS: 738 - MOVED: 02/27/2025 8:29 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:d371dede7ca34830d4653b949e90c647&mediaType=text
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AS--SOUTH KOREA-DEMOGRAPHIC CRISIS
The number of babies born in South Korea last year rebounded for the first time in nearly a decade
SUMMARY: The number of babies born in South Korea has rebounded for the first time in nine years. That's welcome news for a country grappling with one of the the world's most serious demographic crises. South Korea's statistics agency said Wednesday that 238,300 babies were born last year. It's an increase of 8,300 from a year earlier. The agency said that the country's fertility rate was 0.75 in 2024. That's a rise from 0.72 in 2023. An expert at the Korea Institute of Child Care and Education said Thursday that "it's fair to say this is a considerably meaningful rebound." South Korea's fertility rate has been the lowest in the developed world in recent years.
WORDS: 530 - MOVED: 02/27/2025 8:26 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:dde1e536cd8b7a65cf30fe3f91983162&mediaType=text
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EU--GREECE-RAIL DISASTER-INVESTIGATION
Greek rail disaster report cites errors and major systemic failures
SUMMARY: An independent investigative committee in Greece has released a long-awaited investigation into the country's deadliest train crash. The report issued on Thursday blamed human error, outdated infrastructure and major systemic failures for the head-on collision that killed 57 people two years ago. The report was released on the eve of a general strike and planned mass protests for the second anniversary of the Feb. 28, 2023 crash. The strike and protests are fueled by public anger over the slow pace of a separate judicial inquiry. The independent investigative committee found that a station master's routing mistake sent a passenger train onto the same track as an oncoming freight train. Investigators also highlighted poor training, staff shortages and a deteriorating railway system.
WORDS: 367 - MOVED: 02/27/2025 7:50 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:36d3960f42528b1d12f998dcaa3e5924&mediaType=text
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AS--PAKISTAN-AFGHANISTAN-BORDER CLOSURE
Nearly a weeklong closure of Pakistan-Afghanistan border crossing disrupts trade, movement of people
SUMMARY: Officials say a nearly week-long closure of a key crossing on the Afghanistan-Pakistan border has disrupted bilateral trade and the movement of people. It has caused financial losses to traders and leaving people stranded in harsh winter conditions. The Torkham border crossing has remained closed since Feb. 21 after Pakistan shut it down over a dispute concerning Afghanistan's construction of a border post. A director of the Pakistan-Afghanistan Joint Chamber of Commerce and Industry said Thursday that more than 5,000 trucks carrying various goods are waiting for the reopening of the border. It also serves as a vital corridor for transporting goods between Pakistan and Central Asian countries.
WORDS: 467 - MOVED: 02/27/2025 7:40 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:85fb6a15d42a07f819ba92223a34ecfc&mediaType=text
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EU--BRITAIN-GATWICK AIRPORT
UK government tentatively backs expansion of Gatwick Airport, country's second-busiest
SUMMARY: The U.K. government has provided provisional approval to the creation of a second runway at Gatwick Airport outside London. The tentative approval has been granted provided that certain improvements to the plan are met including on noise reduction. Transport Secretary Heidi Alexander said in a written statement on Thursday that she was "minded to approve" the expansion. The plan would involve moderately moving Gatwick's northern runway. It's currently only used for planes to taxi or as a backup. Gatwick is about 40 miles or 65 kilometers south of London and serves more than 40 million passengers a year. Environmental campaigners, such as Greenpeace, have criticized the government's tentative approval.
WORDS: 520 - MOVED: 02/27/2025 7:30 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:528783ed5b3e08eb18969ad4dfa92cfb&mediaType=text
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US-OFF THE CHARTS-AMERICA NOT FIRST
America First? Not when it comes to stock markets worldwide this year
SUMMARY: When it comes to stock markets around the world, this year has clearly not been "America First." Wall Street has risen in 2025 and isn't far from its all-time high. But it's climbed less than stock indexes in Mexico City, Paris and Hong Kong. The difference in performance has been so stark than an index of stocks from 22 of 23 developed economies around the world, excluding the United States, has trounced the S&P 500. The split has many causes, and if it continues, it would mark a sharp reversal following years of U.S. exceptionalism.
WORDS: 549 - MOVED: 02/27/2025 7:24 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:96533ff5252eef1d335da379729748e8&mediaType=text
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EU--EUROPE-SECURITY-EXPLAINER
The EU beat COVID and ditched Russian energy. Now it must learn to live without US security help
SUMMARY: The European Union is getting good at adapting to unprecedented circumstances. Over the last five years, the 27 member countries have pulled together to fund the purchase of tens of millions of vaccines and devised a massive recovery fund to resuscitate economies ravaged by the pandemic. They then weaned themselves off a dependency on Russian natural gas after President Vladimir Putin tried to end their support for Ukraine. Now now they are trying to end their reliance on U.S. security assistance. American priorities lie elsewhere. EU countries are vowing to adapt to the new reality. But it's unclear whether they will drum up the military and financial resources, or muster the political will, to defend their interests.
WORDS: 984 - MOVED: 02/27/2025 6:34 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:f295e24382981eb05f1c9111a885b997&mediaType=text
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US-CRYPTO-TRUMP-LEGISLATION
Presidential meme coins should be against the law, House Democrat says
SUMMARY: California Democrat Rep. Sam Liccardo is proposing legislation that takes aim at President Donald Trump's meme coin. Liccardo's bill, which he plans to introduce Thursday, would block the president, members of Congress, and other senior officials, as well as their spouses and children, from issuing or sponsoring securities, commodities and cryptocurrencies like meme coins. The bill has no chance of passing in this Republican-controlled Congress. But the freshman lawmaker said it would serve as a placeholder if Democrats come to power as well an important symbolic gesture against what he called obvious corruption.
WORDS: 707 - MOVED: 02/27/2025 6:00 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:1ecccef627173b01927f03d9b526b7a7&mediaType=text
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US--BLACK ATHLETES-ACTIVISM DILEMMA
Long champions of social justice, Black athletes say their voices are needed now more than ever
SUMMARY: Athletes have long used sports as a forum for civil rights activism. And their voices could be more vital than ever today as President Donald Trump has issued sweeping orders to end federal government diversity, equity and inclusion programs. Today's sports figures have a unique position of influence, with more money and celebrity status than ever and social media to get their message to millions. With that comes the potential for backlash and retaliation. Speaking out could cost their reputations, their connections, their careers as has happened to sports figures in the past, experts say.
WORDS: 1235 - MOVED: 02/27/2025 6:00 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:aa998e9afdb4bf38fea9b78b80f803bd&mediaType=text
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SOC--NORWAY-VAR VOTE
Norway is voting on whether to scrap VAR. The wider soccer world is watching with interest
WORDS: 798 - MOVED: 02/27/2025 5:47 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:9a877fd7eb7dd153415f01bcc6f4742a&mediaType=text
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AS-VIETNAM-ENERGY
Vietnam plans energy shift toward building more solar, less reliance on gas and coal
SUMMARY: Vietnam is revising its energy plans to focus more on large solar farms and less on reliance on coal and natural gas. A draft of the new policy outline, likely to be finalized in coming weeks, scraps plans to build offshore wind turbines, instead building more onshore wind capacity, rooftop solar and energy storage. The fast-growing economy now aims to get 16% of its energy from the sun -- more than triple its earlier target of just 5%. Offshore wind and new gas projects have proven expensive and difficult. Large solar farms are cheaper and easier to build.
WORDS: 576 - MOVED: 02/27/2025 5:44 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:832e7b8bb7c103fb17e1f86121f735cf&mediaType=text
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EU--FRANCE-UKRAINE-MINERALS
France joining the U.S. in seeking access to Ukraine's minerals; says it's in talks
SUMMARY: The French defense minister says France is also seeking access to Ukraine's deposits of critical minerals, indicating that the United States isn't the only player. Ukrainian leader Volodymyr Zelenskyy is expected Friday at the White House to sign a minerals deal with the United States. But French Defense Minister Sébastien Lecornu said Thursday that he, too, has been in talks for months with his Ukrainian counterpart about accessing minerals that are vital for defense and other future technologies. He said France could possibly purchase the minerals from Ukraine and isn't seeking them as a way to recoup the billions of euros in military and other aid.
WORDS: 350 - MOVED: 02/27/2025 5:36 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:e5fc5fa487d0b8fd884c7783356812d4&mediaType=text
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ONE TECH TIP-STOP SPAM CALLS
One Tech Tip: Getting a lot of unwanted phone calls? Here are ways to stop them
SUMMARY: Unwanted phone calls are out of control. So what can you do to cut down on robocallers and spam calls? Smartphone users can turn on built-in settings. IPhone can silence all unknown callers feature while Android users can block calls from private or unidentified numbers. Sign up for the national Do Not Call registry to opt out of most telemarketing calls. Check whether your wireless carrier has a call-blocking service. Verizon, T-Mobile and AT&T all have call filters. Try third-party apps to weed out unwanted callers to your smartphone. File a complaint online with the FCC so that the federal agency can determine how big a problem robocalls are.
WORDS: 1097 - MOVED: 02/27/2025 4:00 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:4f83e94443149d2ab0c4796c15ce5dcd&mediaType=text
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CRYPTO-HACK
FBI accuses North Korean-backed hackers of stealing $1.5 billion in crypto from Dubai-based firm
SUMMARY: The FBI has accused North Korean-linked hackers of conducting one of the largest known thefts of cryptocurrency -- worth some $1.5 billion from a Dubai-based firm. The theft earlier this month targeting Bybit, one of the world's largest crypto exchanges, represents yet another involving hackers identified by the U.S. government by the names TraderTraitor and the Lazarus Group. The group known by both names is believed to be affiliated with North Korea, and the FBI announced late Wednesday it believed the group was "responsible for the theft." Pyongyang did not respond to requests for comment.
WORDS: 543 - MOVED: 02/27/2025 3:56 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:7c8335c1397261554138090c2c38f457&mediaType=text
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AS--PAKISTAN-TRANSGENDER CHEFS
Pakistan's transgender community finds hope and dignity at a culinary school
SUMMARY: A culinary program for transgender people in Pakistan is giving members of the community professional training, as well as dignity and hope. Pakistan has entrenched beliefs on gender and sexuality, so trans people are often considered outcasts in the conservative and Muslim-majority country. A report from the U.N. development agency said just 7% are employed in formal sectors and that the majority of the country's trans population experiences violence or abuse. The six-month program in Lahore welcomed its first group of 25 students in January and a second group of 25 began training this month. Each student receives a monthly stipend of 8,000 rupees, or around $26.
WORDS: 701 - MOVED: 02/27/2025 3:20 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:8a3a436943d171ba24934e68dd377127&mediaType=text
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US-LEGISLATURES-COURTS
Republican lawmakers look for ways to weaken state judges
SUMMARY: Measures in several state legislatures this year have called for new approaches to weaken the power of judges. One measure would abandon a centuries-old precedent that courts can decide whether laws are constitutional. Another would change how judges are selected. The tension between the courts and other branches of government is not new, but it's growing. The latest wave comes as President Donald Trump faces scores of lawsuits challenging his policies. His administration says the issue isn't what he's trying to do but rather judges acting as "judicial activists" who in some cases are standing in his way.
WORDS: 867 - MOVED: 02/27/2025 12:02 a.m. EST
https://newsroom.ap.org/home/search?query=itemid:208840716c7492a4da3278b9220de907&mediaType=text
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