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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CHINA-ECONOMY

DESCRIPTION: China reports its economic growth for the second quarter/first half of 2025, along with other key data.

UPCOMING: By 07/14/2025 10:00 p.m. EDT, LiveVideo, Photo, Text, Video

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NEW AND DEVELOPING

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FINANCIAL-MARKETS

Wall Street hangs near its record amid doubts about Trump's tariffs

SUMMARY: U.S. stock indexes are hanging near their records following President Donald Trump's latest updates to his tariffs, as speculation continues that he may ultimately back down on them. The S&P 500 edged down by 0.1% Monday. The Dow Jones Industrial Average dipped 25 points, and the Nasdaq composite slipped 0.1%. Stock indexes fell in Europe but were mixed elsewhere after Trump announced 30% tariffs on goods from Mexico and the European Union. They won't take effect until Aug. 1, which leaves time for more negotiations. Treasury yields held steady in the bond market, while bitcoin rallied at the start of Washington's "Crypto Week."

WORDS: 753 - MOVED: 07/14/2025 10:22 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:76c405f979a719cd89b682110ac856a0&mediaType=text

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US-BITCOIN-RECORD HIGHS

Bitcoin soars to new all-time high as US lawmakers focus on pro-crypto legislation

SUMMARY: Bitcoin has hit a new all-time high, surpassing $123,000 on Monday. This marks a sharp rise from $108,000 just a week ago. The cryptocurrency now ranks as the fifth most valuable asset class globally, with a market cap of $2.4 trillion, even surpassing Amazon. The surge comes as U.S. lawmakers focus on passing pro-crypto legislation during what's being called "crypto week" in Congress. This includes bills regulating stablecoins and broader market structures. Bitcoin's popularity continues to grow, fueled by institutional demand and limited supply.

WORDS: 396 - MOVED: 07/14/2025 10:19 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6766c48f955d4796252c3c7b5fbcf57e&mediaType=text

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EU--BRITAIN-BBC-WALLACE

BBC says it's 'untenable' for Gregg Wallace to host 'MasterChef' after sexual misconduct report

WORDS: 506 - MOVED: 07/14/2025 10:06 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:3fafb03dbf946ed2fc9b2003d0372d93&mediaType=text

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EU--EUROPE-US-TARIFFS

European trade ministers pledge unity after Trump's surprise 30% tariffs

SUMMARY: European trade ministers are hopeful for a negotiated trade deal after President Donald Trump announced 30% tariffs on the European Union. But they also are expressing resolve and unity in preparing countermeasures if talks break down. The ministers met Monday in Brussels following Trump's surprise announcement of such hefty tariffs, which could have repercussions for governments, companies and consumers on both sides of the Atlantic. The EU is America's biggest business partner and the world's largest trading bloc. Denmark's foreign minister, Lars Løkke Rasmussen, said after the meeting that :"The EU remains ready to react and that includes robust and proportionate countermeasures if required and there was a strong, feeling in the room of unity."

WORDS: 710 - MOVED: 07/14/2025 10:02 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:be679cb7642c167baabdce2c50392d0f&mediaType=text

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US--TRUMP-EDUCATION-GRANT FREEZE

Boys & Girls Club programs threatened by Trump grant freeze serve thousands of families

SUMMARY: Programs that provide summer and after-school programming to more than 1 million students are at risk because of a Trump administration freeze on education grants. Congress set aside money for the programs at Boys & Girls Clubs, the YMCA and public schools to provide academic support, enrichment and child care. But President Donald Trump's administration says it wants to make sure recipients' programs align with the Republican president's priorities. The Boys & Girls Club of America says many clubs have found ways to keep their summer programs open but there isn't the same hope for the after-school programming this fall. The Boys & Girls Club of East Providence, Rhode Island, says the state helped with funding.

WORDS: 1143 - MOVED: 07/14/2025 9:38 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6f5bd3204d2973784d466e3f0fdb38b4&mediaType=text

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SCI--SPACEX-PRIVATE ASTRONAUTS

Astronauts from India, Poland and Hungary head back to Earth after private space station mission

SUMMARY: The International Space Station's first visitors from India, Poland and Hungary are headed back to Earth. Their SpaceX capsule undocked from the orbiting lab on Monday, targeting a splashdown in the Pacific. The privately financed mission marked the first time in more than 40 years that India, Poland and Hungary saw one of their own rocket into orbit. The three astronauts were accompanied by America's most experienced space flier, Peggy Whitson, who works for the Houston company that chartered the flight. They launched from Florida in late June.

WORDS: 414 - MOVED: 07/14/2025 9:14 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4765bdc3840da294f10f77a087f3cf9f&mediaType=text

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AS--CLIMATE-INDIA-AIR CONDITIONERS

India wants air conditioners to be made with milder temperature settings to save energy

SUMMARY: The Indian government has proposed requiring the lowest temperature setting on all new air conditioners to be 20 Celsius, or 68 Fahrenheit. They hope the change will result in large savings on electricity as the South Asian nation faces increasingly hotter and longer summers. Current air conditioners in India can cool to as low as 17 C or 62 F. Indian officials said every Celsius degree difference in temperature can cut energy use by 6%. India is one of the world's largest air conditioner markets.

WORDS: 938 - MOVED: 07/14/2025 8:41 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:29dc15ba12cb4142e0670ca8466ba61f&mediaType=text

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US--KENVUE-CEO

Kenvue CEO Mongon leaves the consumer health company as it continues its strategic review

SUMMARY: Kenvue says that CEO Thibaut Mongon is departing as the maker of Listerine and Band-Aid brands continues with a strategic review of the company. Kenvue used to be a part of Johnson & Johnson. J&J announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions in a bid to make each more nimble. Kenvue said Monday that board member Kirk Perry will serve as interim CEO, effective immediately.

WORDS: 237 - MOVED: 07/14/2025 8:33 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a7a3a0388d591063d10efe14c74adf2f&mediaType=text

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US--CONGRESS-BUDGET-CUTS-EXPLAINER

A Senate vote this week will test the popularity of DOGE spending cuts

SUMMARY: Senate Republicans are putting the popularity of Department of Government Efficiency spending cuts to the test this week. The GOP lawmakers are looking to pass President Donald Trump's request to claw back $9.4 billion in spending on public media and foreign aid. Senate Democrats are looking to kill the measure. The House has already approved the rescissions package on a mostly party line 214-212 vote. The Senate has little time to spare to beat the 45-day deadline for the Republican president's signature. If Congress fails to act by Friday, then the spending stands.

WORDS: 1262 - MOVED: 07/14/2025 8:09 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c2e049f189923c35c0aa176faa848ceb&mediaType=text

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ML--EMIRATES-WIZZ AIR

Wizz Air will exit Abu Dhabi's Zayed International Airport, long overshadowed by Dubai

SUMMARY: Wizz Air says it will suspend its Abu Dhabi operations starting Sept. 1. The Hungarian low-cost airline cited geopolitical instability, supply chain issues, and limited market access as key challenges. The decision follows recent regional tensions, including a 12-day war between Israel and Iran, which disrupted air travel. Abu Dhabi's airport has long struggled to compete with Dubai International, the world's busiest for international travel. Wizz Air plans to refocus on its core markets in Central and Eastern Europe. The company says the move aims to allocate resources to regions with better long-term growth and profitability prospects.

WORDS: 395 - MOVED: 07/14/2025 6:59 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:ea911d613ca12730a0d99a5f320f8366&mediaType=text

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US--ECONOMY-MANUFACTURING

US manufacturers are stuck in a rut despite subsidies from Biden and protection from Trump

SUMMARY: Democratic President Joe Biden handed out subsidies to chipmakers and electric vehicle manufacturers. Republican President Donald Trump is building a wall of import taxes - tariffs - around the U.S. economy to protect domestic industry from foreign competition. But American manufacturing has been stuck in a rut anyway. Biden's subsidies haven't had time to deliver many factory jobs, and some of them have already been overturned by the Republican Congress. Trump's tariffs help some manufacturers but hurt others. And the erratic way he's rolled them out has paralyzed factory managers who don't know what to plan for.

WORDS: 1134 - MOVED: 07/14/2025 6:00 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:70ba2e081d44eea594ef3203af96d483&mediaType=text

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AS--VIETNAM-MOTORCYCLE BAN

Vietnam will ban fossil-fuel motorcycles from central Hanoi over pollution concerns

WORDS: 428 - MOVED: 07/14/2025 5:15 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:29bf81ec6b7bad9e8a63bd636ea34d18&mediaType=text

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CHINA-TRADE

China's exports jump 5.8% in June as tariffs reprieve prompts a rush of orders

WORDS: 462 - MOVED: 07/14/2025 2:19 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:570852c13d62b3ae55667ec686ea43dc&mediaType=text

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