Business News Digest

The Associated Press

August 08, 2025

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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NEW AND DEVELOPING

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US-MED--BOAR'S HEAD-DELI MEAT

Boar's Head plans to reopen troubled deli meat plant, but reports of sanitation problems persist

SUMMARY: The Boar's Head deli meat plant at the heart of a deadly food poisoning outbreak is set to reopen in the coming months. Federal health officials lifted a forced suspension at the company's Jarratt, Virginia, site. However, new documents show that sanitation problems similar to those that led to listeria contamination persist at three other company sites -- in Forrest City, Arkansas; New Castle, Indiana; and Petersburg, Virginia. The outbreak that began in July 2024 killed 10 people and sickened dozens more. The company recalled 7 million pounds of deli products nationwide, discontinued liverwurst and shut down the Jarratt site.

WORDS: 1140 - MOVED: 08/08/2025 10:26 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e9a1cef1dca3f7545dba0024bf5ac594&mediaType=text

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FINANCIAL MARKETS

Stocks rise on Wall Street and hold on to weekly gains

SUMMARY: Stocks are rising on Wall Street, keeping the market on track for its third weekly gain in the last four. The S&P 500 was up 0.6% in morning trading Friday. The Dow Jones Industrial Average added 188 points, or 0.4%, and the Nasdaq added 0.6% to the all-time high it set a day earlier. Expedia and Gilead Sciences both rose sharply after reporting results that easily beat analysts' forecasts. Both companies also raised their outlooks. Asian markets closed mostly lower except in Tokyo, where the Nikkei rose 1.9%. European markets were mixed. Treasury yields were higher.

WORDS: 298 - MOVED: 08/08/2025 10:13 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:8791e464a5eba81d252e976a06614c4b&mediaType=text

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ENT--BOOKS-THE HISTORY PRESS

From Stephen King to New Jersey diners, History Press books cover local lore around the US

SUMMARY: A writer from Maine, Sharon Kitchens has turned her passion for Stephen King's books into a published work. Her book, "Stephen King's Maine," explores the real-life settings and inspirations behind King's stories. Published by The History Press, it's part of a series focused on regional and local histories. The History Press is now part of Arcadia Publishing and aims to make community histories accessible. Kitchens' book gained attention after Stephen King endorsed it on Instagram. The History Press often works with local specialists who are passionate about preserving their community's history, offering them a platform to share untold stories.

WORDS: 1019 - MOVED: 08/08/2025 9:49 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:55c8b4a3836317d5d9b4c7740bd7964c&mediaType=text

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EU--EUROPE-MIDEAST

Germany halts exports of military equipment to Israel that could be used in Gaza

SUMMARY: German Chancellor Friedrich Merz says Germany won't authorize exports of military equipment to Israel that could be used in Gaza "until further notice." The decision came after the Israeli Cabinet announced plans to take over Gaza City. Merz said Friday that Israel "has the right to defend itself against Hamas' terror." He stated that the release of Israeli hostages and negotiations toward a ceasefire in the nearly two-year war are "our top priority." Merz added that the recent military actions by Israel make it difficult for Germany to see how these goals will be achieved.

WORDS: 1202 - MOVED: 08/08/2025 9:46 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:b957e28b73ee94ed33fbd2d4e4d36246&mediaType=text

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PLASTIC-POLLUTION-TREATY

US at plastics treaty talks is rare international participation under Trump. What's the goal?

SUMMARY: Under President Donald Trump's leadership, the United States has withdrawn from international negotiations and commitments, particularly around climate. But it is very much involved in treaty talks for a global accord to end plastic pollution. Nations kicked off a meeting Tuesday in Geneva to try to complete a landmark treaty over 10 days to end the spiraling plastic pollution crisis. It's the sixth time negotiators are meeting and they hope the last. The State Department says engaging in the negotiations is a critical opportunity for the United States to continue protecting its interests and businesses. Plastics is a $500 billion industry in the United States that employs about 1 million people.

WORDS: 825 - MOVED: 08/08/2025 9:04 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4bef60c192fe004d238157a4faa7bbfb&mediaType=text

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US--INTEL-CEO

Intel CEO responds after Trump calls for his resignation

SUMMARY: Intel CEO Lip-Bu Tan says he's "always operated within the highest legal and ethical standards" after coming under pressure following President Donald Trump's call for him to resign. In a message to employees, Tan said that there was misinformation circulating about his past roles at Walden International and Cadence Design Systems and that he's always followed proper standards. Tan also said Intel was in contact with the Trump administration.

WORDS: 328 - MOVED: 08/08/2025 8:45 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:492a8d9353cd2396ec03ce1d844d0fd4&mediaType=text

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US--EDUCATION-ENDOWMENT TAX

College endowment tax is leading to hiring freezes and could mean cuts in financial aid

SUMMARY: An increase in the tax on university endowments is creating financial challenges for the wealthiest U.S. colleges. Some, such as Yale and Stanford, have already laid off staff or implemented hiring freezes. The tax was signed into law by President Donald Trump and takes effect in 2026. Experts say it could lead to reduced financial aid. Colleges usually use most of their endowment proceeds for scholarships, but they'll soon have to use some of the money to pay the higher tax. The new tiered system taxes college endowments at 8% if they have more than $2 million or more in assets per student. This applies only to private colleges with at least 3,000 students.

WORDS: 943 - MOVED: 08/08/2025 6:08 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:830b699ab8bd1b2035fb60e455655df1&mediaType=text

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