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--POSTAL SERVICE 250-ABRIDGED

From Benjamin Franklin to Pony Express to anthrax: How the US Postal Service shaped a nation

SUMMARY: The U.S. Postal Service is turning 250. Saturday's anniversary comes as the agency faces financial challenges. The postal service was established in 1775, when the Second Continental Congress appointed Benjamin Franklin as postmaster general. Its service predates the United States, launched nearly a year before the colonies declared their break from British rule. A key link between colonial leaders and the Continental Army, it also helped unify the fragmented colonies by spreading ideas of liberty and independence and would help shape the nation throughout its history. It still reaches nearly every American daily.

WORDS: 997 - MOVED: 07/25/2025 10:03 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6fa04e83fb0fa8672c87949f436b8304&mediaType=text

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US--POSTAL SERVICE 250

From Benjamin Franklin to Pony Express to anthrax: How the US Postal Service shaped a nation

SUMMARY: The U.S. Postal Service is turning 250. Saturday's anniversary comes as the agency faces financial challenges. The postal service was established in 1775, when the Second Continental Congress appointed Benjamin Franklin as postmaster general. Its service predates the United States, launched nearly a year before the colonies declared their break from British rule. A key link between colonial leaders and the Continental Army, it also helped unify the fragmented colonies by spreading ideas of liberty and independence and would help shape the nation throughout its history. It still reaches nearly every American daily.

WORDS: 1648 - MOVED: 07/25/2025 10:02 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f3767d7216b8779a95a6b27cd8082737&mediaType=text

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EU-MED--HIV DRUG APPROVED

EU regulator green lights an injectable HIV drug that could help stop transmission

SUMMARY: The European Medicines Agency has recommended authorizing a twice-yearly injectable drug to prevent HIV. Scientists say this could help end the virus' transmission. On Friday, the agency said lenacapavir, sold as Yeytuo in Europe by Gilead Sciences, is "highly effective" and of "major public health interest." Once approved by the European Commission, it will be available in all 27 EU countries and others. Studies suggest lenacapavir is nearly 100% effective in stopping transmission. Critics worry it may not be widely available. Drugmaker Gilead plans to allow cheap, generic versions to be sold in 120 countries with high HIV rates.

WORDS: 422 - MOVED: 07/25/2025 9:56 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6c60e9dc07776af2af88ee121e015e2b&mediaType=text

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FINANCIAL-MARKETS

US stocks coast toward the finish of a record-setting week

SUMMARY: U.S. stocks are hanging around their records and coasting toward the close of another winning week. The S&P 500 edged up by 0.1% Friday, coming off its latest all-time high. The Dow Jones Industrial Average added 71 points, and the Nasdaq composite was drifting around its record set the day before. Deckers helped lead the market after the company behind Ugg boots and Hoka shoes reported stronger profit and revenue for the spring than analysts expected. It helped offset a sharp drop for Intel, which said it would cut thousands of jobs as it tries to turn around its struggling fortunes.

WORDS: 729 - MOVED: 07/25/2025 9:46 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:2882d3cf706eb9891bdc0600e46e6524&mediaType=text

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ML--IRAN-NUCLEAR

European and Iranian diplomats meet in Istanbul as return of sanctions looms over nuclear deadlock

SUMMARY: Talks between Iranian and European diplomats in Istanbul have ended with the sides agreeing to meet again to seek to unpick the deadlock over Tehran's nuclear program. Representatives from Britain, France and Germany gathered at the Iranian Consulate building Friday. The gathering was the first time that talks were held between Iran and the European countries known as the E3 since Iran's 12-day war with Israel in June. The talks ended after four hours. They centered on the possibility of reimposing sanctions on Iran that were lifted in 2015 in exchange for Iran accepting restrictions and monitoring of its nuclear program. European leaders have said the reinstating of sanctions will start by the end of August if there's no progress on containing Iran's nuclear program.

WORDS: 908 - MOVED: 07/25/2025 9:32 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f8fa3bb6e939545872b33220702bb46d&mediaType=text

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US--COLDPLAY-JUMBOTRON

HR exec caught on Coldplay cam resigns after embrace with CEO went viral

SUMMARY: Kristin Cabot, an executive at tech company Astronomer, has resigned after a viral video showed her embracing CEO Andy Byron at a Coldplay concert. Byron had already resigned after being placed on leave pending an investigation. The incident, which occurred last week at Gillette Stadium in Massachusetts, sparked memes and parody videos online. During the concert, singer Chris Martin joked about the pair when their surprised reactions were caught on the big screen. Their identities were quickly uncovered by online sleuths. Both executives' profiles have been removed from the company's website. Coldplay's online streams jumped 20% after the video went viral.

WORDS: 306 - MOVED: 07/25/2025 9:23 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9d3ed25a5391732d58786705e9a234a9&mediaType=text

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EU--EUROPE-WILDFIRES

Fires engulf Turkey's Mediterranean coast as government declares 2 disaster zones

SUMMARY: New wildfires have broken out on Turkey's Mediterranean coast and the government has declared two western provinces to be disaster zones. Images showed flames and smoke billowing into the sky on Friday close to high-rise apartment buildings in Antalya. Local and foreign visitors flock there during the summer months. Privately owned news agency DHA reported that homes were evacuated in the city center and the outlying district of Aksu as the fire advanced. Interior Minister Ali Yerlikaya said that Izmir and Bilecik provinces have been declared "disaster areas affecting public life" because of the recent spate of wildfires.

WORDS: 520 - MOVED: 07/25/2025 9:17 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:06f14e807287b4237b57dbc314614475&mediaType=text

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EU-EUROPE-META-POLITICAL ADS

Meta will cease political ads in European Union by fall, blaming bloc's new rules

SUMMARY: Meta has announced it will stop all political advertising in the European Union by October. The decision comes in response to new EU rules aimed at increasing transparency in election campaigns. Meta says the regulations create significant operational challenges and legal uncertainties. Starting in early October, Meta will no longer allow ads for political, electoral, and social issues on its platforms, including Facebook, Instagram, and Threads. Google made a similar move last year. The EU rules, effective Oct. 10, require platforms to label political ads and disclose their funding sources. Violations could result in hefty fines.

WORDS: 344 - MOVED: 07/25/2025 8:47 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:89efeac96723308d2a0469740d24d433&mediaType=text

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AS--JAPAN-WEAVING-AI

Tradition meets AI in Nishijinori weaving style from Japan's ancient capital

WORDS: 902 - MOVED: 07/25/2025 4:44 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6c95395a5197ce3dd97b87afa6ac5cc7&mediaType=text

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EU--BRITAIN-INDIA

Leaders Starmer and Modi hail long-sought India-UK trade deal as historic

SUMMARY: The prime ministers of Britain and India have sealed a major trade agreement that will reduce tariffs on products like Scotch whisky and Indian spices. The signing ceremony took place Thursday at Chequers, the British leader's country residence. Indian Prime Minister Narendra Modi said it was "a historic day in our bilateral relations." The deal announced in May comes after more than three years of negotiations. It will cut India's average tariff on British goods from 15% to 3%. Indian taxes on Scotch whisky, a major U.K. export, will drop significantly. India says 99% of Indian exports will face no import duty under the deal. Britain expects the deal to boost bilateral trade by billions of pounds and create thousands of jobs.

WORDS: 511 - MOVED: 07/25/2025 1:19 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4d258647939f3d71fcbf4b795a059ca5&mediaType=text

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AS--NEPAL-COFFEE BUZZ

Tea-loving Nepal is warming up to coffee

SUMMARY: Coffee hasn't always been an easy sell in Nepal. The Himalayan country is a major tea producer, as well as a major consumer. Tea is a constant presence at homes, meetings and social gatherings. But a growing number of Nepalis are warming up to coffee, as trendy cafes spring up street corners in cities and towns across the country. A cup of coffee costs as much as a meal, or five cups of tea, but it's popular with office workers and students looking for a place to hang out. Himalayan Java, which began as a single cafe in an alley in Kathmandu,has grown to a chain with 84 locations the country.

WORDS: 585 - MOVED: 07/25/2025 12:34 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:09df8bbd381473167ece27017d955830&mediaType=text

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US--VISITING THE FED

Trading a suit for boots and a hard hat: Behind the scenes at the Federal Reserve, mid-renovation

SUMMARY: On Thursday, staff at the Federal Reserve led a small group of journalists, photographers and television cameras on an extensive tour of the large, active construction site that comprises two 1930s-era buildings. The renovation began in 2022, and the Fed hopes to complete it in the fall of 2027. It is a $2.5 billion overhaul. By providing journalists -- and, by extension, the public -- such extensive access, the Fed clearly hopes greater transparency will help beat back the White House's criticism. Trump toured the same site several hours after the reporters, then downplayed his threats to fire the Fed chair.

WORDS: 836 - MOVED: 07/25/2025 12:01 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:74fdf57e4dc86ae16ed674af5b60e74f&mediaType=text

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