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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FEDERAL RESERVE-TRUMP
DESCRIPTION: President Donald Trump's demands that the Federal Reserve cut interest rates wouldn't necessarily lower borrowing costs for consumers, economists say, and his attacks on the Fed and his tariff policies could keep longer-term interest rates elevated. Trump has repeatedly urged Fed Chair Jerome Powell to cut the short-term interest rate that the central bank controls. But the longer-term borrowing costs that matter to consumers and businesses -- on things like mortgages, auto loans, and credit cards -- are mostly set by market forces. And in recent weeks, fears that Trump's tariff policies could raise inflation, along with the administration's threats to the Fed's independence, have led markets to push those longer term rates higher. By Christopher Rugaber.
UPCOMING: By 04/25/2025 11:00 a.m. EDT, Text
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NEW AND DEVELOPING
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FINANCIAL MARKETS
Wall Street's rally fades as more CEOs talk about uncertainty because of Trump's trade war
SUMMARY: U.S. stocks are drifting in mixed trading as they near the end of another roller-coaster week. The S&P 500 rose 0.2% Friday, even though more stocks were falling within the index than rising. The Dow Jones Industrial Average slipped 124 points, and the Nasdaq composite rose 0.6%. Intel weighed on the market after giving a forecast for upcoming revenue and profit that fell short of analysts' expectations. But Google's parent company helped limit the market's losses after reporting a better profit than expected. Treasury yields eased in the bond market, and the U.S. dollar rose against other currencies.
WORDS: 707 - MOVED: 04/25/2025 10:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cd30ed61467eee2dc778006fa49924ee&mediaType=text
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AS--CHINA-AUTO SHOW-TARIFFS
Automakers focus on the global market, chide the US over tariffs at Shanghai's auto show
SUMMARY: Booths of big Chinese, German and Japanese automakers are bustling at Shanghai's auto show as the industry keeps its sights on the wider global market not subject to steep U.S. tariffs on imports of cars and auto parts. U.S. President Donald Trump's 25% tariffs may fence the U.S. market in, raising costs and causing companies to recalibrate their strategies. Whatever happens with U.S. trade policy, auto and parts makers indicated their focus is on the fast growing global markets. Some attending the show said they believe that ultimately Trump will end up softening his stance.
WORDS: 913 - MOVED: 04/25/2025 8:39 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:397bc37d5412bb6c0aa1426665c3779b&mediaType=text
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EU--SWITZERLAND-US-TARIFFS
Swiss leader says Trump administration foresees 'privileged' talks with 15 countries on US tariffs
SUMMARY: The Swiss president says Switzerland is among 15 countries with which the United States plans to conduct "privileged" negotiations to help reach a deal in the wake of sweeping U.S. tariffs on dozens of countries that have shaken global markets. Karin Keller-Sutter, in an interview with broadcaster SRF published Friday, said she was "satisfied" with talks in Washington this week that included an International Monetary Fund conference and her one-on-one meeting with U.S. Treasury Secretary Scott Bessent. Keller-Sutter also serves as Switzerland's finance minister. She said Switzerland was among the 15 countries but it was no
WORDS: 536 - MOVED: 04/25/2025 5:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3b60eb27bf53b6b3a815e7a43169badc&mediaType=text
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US-NEW CAR RULES
US to loosen rules on Tesla, other carmakers taking on China in race for self-driving cars
SUMMARY: The Trump administration is loosening rules to help U.S. automakers like Elon Musk's Tesla develop self-driving cars so they can take on Chinese rivals. That is according to a Transportation Department statement Thursday. The department said U.S. companies developing self-driving cars will be allowed exemptions from certain federal safety rules for testing purposes. It also said it will streamline crash reporting requirements involving self-driving features and move toward national rules for the technology to replace a patchwork of state regulations. Transportation Secretary Sean Duffy said the U.S. is in a race against China and U.S. automakers need less red tape and a single national standard.
WORDS: 349 - MOVED: 04/25/2025 4:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b7f03d1e23b68256a051cef490aead3b&mediaType=text
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AS--JAPAN-7-ELEVEN
7-Eleven's soon-to-be chief is confident he knows value, and thrifty customers
SUMMARY: The first foreigner tapped to head 7-Eleven is confident the Japanese convenience store chain will continue to attract thrifty customers, even in an economic slowdown. Stephen Hayes Dacus, an American with a Japanese mother, declined to comment Friday on the specifics of the various investment plans now being studied, including an acquisition proposal by Alimentation Couche-Tard of Canada. A special committee is charged with studying the options. Dacus spoke with a small group of reporters at the Tokyo headquarters of Seven & i Holdings Co., which operates 7-Eleven. His appointment as chief executive still needs shareholders' approval, set for May.
WORDS: 398 - MOVED: 04/25/2025 4:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4b7bfdb9638fa3688a0b91b495e468aa&mediaType=text
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AS--SOUTH KOREA-MOON INDICTED
Former South Korean President Moon calls his bribery indictment 'unjust'
SUMMARY: Former South Korean President Moon Jae-in has called his bribery indictment "unjust" and accused prosecutors of abusing their power in what he called a politically motivated investigation. Prosecutors in the southern city of Jeonju said the indictment involves allegations that a budget airline gave Moon's then-son-in-law a lucrative no-show job during his presidency. Multiple South Korean leaders have faced criminal allegations or scandals near the end of their terms or after leaving office. South Korea will hold a presidential by-election in June after Moon's successor in office was impeached and removed from office over his imposition of martial law.
WORDS: 443 - MOVED: 04/25/2025 3:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a391f0ab0714e9a710a98b27d26d59c8&mediaType=text
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CN--CANADA-US TRAVEL
Canadians put off by Trump's bluster and border arrests are booking far fewer US visits
SUMMARY: Trump's attacks on Canada's economy and threats to make it the 51st state have infuriated Canadians, who are canceling trips to the U.S. in big numbers. They also seem to have also flipped the narrative heading into Canada's parliamentary elections on Monday, with Liberals surging after trailing far behind in the polls just months ago. There has been a big drop foreigners visiting the U.S. since Trump took office, and Canadians are no exception. The U.S. gets more visitors from Canada each year than from any other country. But there was a 22% decline in land border crossings from Canada into the U.S. last month than in March of 2024, according to U.S. Customs and Border Protection data.
WORDS: 943 - MOVED: 04/25/2025 1:33 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:81fe117b5691c8d6afb0ce8e587ccd47&mediaType=text
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