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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US--PHILANTHROPY-HARRISON-FORD
DESCRIPTION: Harrison Ford will receive an award for his philanthropy Tuesday night from the global surgery and training nonprofit Operation Smile named for his friend, humanitarian Dr. Randy Sherman.
UPCOMING: By 06/03/2025 12:01 p.m. EDT, Text, Photo
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NEW AND DEVELOPING
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MCDONALD'S SNACK WRAPS RETURN
McDonald's is bringing back its discontinued Snack Wrap
SUMMARY: McDonald's says it's bringing back a menu item it discontinued nearly a decade ago. The Chicago burger giant confirmed on Tuesday that Snack Wraps will return to its U.S. menu on July 10. McDonald's introduced Snack Wraps in 2006 but pulled them in the U.S. a decade later because they were too complicated for its kitchens to prepare. But fans have clamored for a comeback for years. The U.S. president of McDonald says some customers kept ordering the Snack Wrap at drive-thrus. In the meantime, rivals like Burger King introduced their own chicken wraps. McDonald's expects Snack Wraps to boost its U.S. sales, which have been sluggish as consumers react to economic conditions.
WORDS: 1,044 MOVED 06/03/2025 9:35 a.m. EDT
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META-NUCLEAR ENERGY
Meta becomes the latest big tech company turning to nuclear power for its AI needs
SUMMARY: Facebook parent company Meta is partnering with Constellation Energy to expand the output of an Illinois nuclear plant to help meet surging demand for artificial intelligence and other computing needs. The 20-year deal announced Tuesday is the latest in a series of recent tech-nuclear partnerships that also help technology companies achieve their clean energy goals. Financial details of the agreement were not given. The companies say the investment will expand Clinton's clean energy output by 30 megawatts, preserve 1,100 local jobs and bring in $13.5 million in annual tax revenue.
WORDS: 374 MOVED 06/03/2025 10:45 a.m. EDT
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FINANCIAL MARKETS
Wall Street drifts as financial markets worldwide hold relatively steady
SUMMARY: U.S. stocks are drifting, and financial markets worldwide are holding relatively steady as the wait continues for more updates on President Donald Trump's tariffs and how much they're affecting the economy. The S&P 500 was virtually unchanged in Tuesday morning trading, coming off a modest gain that added to its stellar May. It is within 3.4% of its all-time high set earlier this year. The Dow Jones Industrial Average dipped 71 points, and the Nasdaq composite rose 0.3%. Treasury yields held relatively steady in the bond market, while stock indexes across most of Europe and Asia made only modest moves.
WORDS: 634 - MOVED: 06/03/2025 10:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e2b0968cc5f496fa0dd1cdb33d30a7c7&mediaType=text
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US--VICTORIAS-SECRET EARNINGS
Victoria's Secret says it will postpone earnings report after recent security breach
SUMMARY: Victoria's Secret is postponing the release of its quarterly earnings following a security breach that disrupted the popular lingerie brand's corporate operations and led it to take down its U.S. shopping site for several days last week. Victoria's Secret said it first detected a "security incident involving its information technology systems" on May 24 -- and temporarily shut down corporate systems and its retail website on May 26. The website in the U.S. stayed dark for several days after, sparking prolonged frustration among shoppers. It wasn't back online until late Thursday. While not directly confirmed by Victoria's Secret, the incident bore hallmarks of a cyberattack involving ransomware. Analysts note that more and more retailers are facing these kinds of attacks today.
WORDS: 547 - MOVED: 06/03/2025 10:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1fda0fe1da3699177f2ab0c6ee75873e&mediaType=text
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EU--SPAIN-ISRAEL
Spain cancels contract for anti-tank missiles built by Israeli subsidiary
WORDS: 285 - MOVED: 06/03/2025 10:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:441fb6373134b4c28e068e05c59ee537&mediaType=text
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US-JOB-OPENINGS
US job openings rose unexpectedly in April, a sign the American labor market remains resilient
SUMMARY: U.S. job openings rose unexpectedly in April, showing that the labor market remains resilient in the face of uncertainty arising from President Donald Trump's trade wars. The Labor Department reported Tuesday that employers posted 7.4 million job vacancies in April, up from 7.2 million in March. Economists had expected opening to drift down to 7.1 million. But the number of Americans quitting their job -- a sign of confidence in their prospects -- fell, and layoffs ticked higher. Openings remain high by historical standards but have dropped sharply since peaking at 12.1 million in March 2022 when the economy was still roaring back COVID-19 lockdowns.
WORDS: 217 - MOVED: 06/03/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:699dba3134443ec0388cb3ed0f58b510&mediaType=text
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US--EDUCATION-AIR QUALITY-OIL AND GAS-ABRIDGED
Oil and gas have boomed in New Mexico. Its schools are contending with pollution's effects
SUMMARY: Natural gas has become a go-to fuel for power plants from coast to coast, sometimes replacing dirtier coal-fired plants and, by extension, improving air quality. In New Mexico, oil and gas companies employ thousands of workers, often in areas with few other opportunities, all while boosting the state's budget with billions in royalty payments. But those benefits may come at a cost for thousands of students whose schools sit near oil and gas pipelines, wellheads and flare stacks. An Associated Press analysis of state and federal data found 694 oil and gas wells with new or active permits within a mile of a school in New Mexico.
WORDS: 1142 - MOVED: 06/03/2025 10:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1159360cec77304d12f6fcaeb70c5c46&mediaType=text
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US--EDUCATION-AIR QUALITY-OIL AND GAS
Oil and gas have boomed in New Mexico. Its schools are contending with pollution's effects
SUMMARY: Natural gas has become a go-to fuel for power plants from coast to coast, sometimes replacing dirtier coal-fired plants and, by extension, improving air quality. In New Mexico, oil and gas companies employ thousands of workers, often in areas with few other opportunities, all while boosting the state's budget with billions in royalty payments. But those benefits may come at a cost for thousands of students whose schools sit near oil and gas pipelines, wellheads and flare stacks. An Associated Press analysis of state and federal data found 694 oil and gas wells with new or active permits within a mile of a school in New Mexico.
WORDS: 1773 - MOVED: 06/03/2025 9:58 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d2e9bb105c68a11bb5ae31564706d8e7&mediaType=text
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US--DOLLAR GENERAL-RESULTS
Dollar General posts record sales as bargain stores attract more people anxious about the economy
SUMMARY: Dollar General set a quarterly sales record of $10.44 billion and it upgraded its annual profit and sales outlook as Americans tighten their budgets and spend more at dollar stores and off-price retailers amid economic uncertainty. The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump's trade wars disrupted business. Consumer spending also slowed sharply. For the period ended May 2, Dollar General's sales climbed 5% to $10.44 billion from $9.91 billion. That's better than the $10.29 billion that Wall Street was expecting, according to a poll by Zacks Investment Research.
WORDS: 456 - MOVED: 06/03/2025 9:22 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:950f85ff117dd7cb46feffb4af94b546&mediaType=text
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ML--IRAN-US-ANALYSIS
Analysis: An outline is emerging of the US offer to Iran in their high-stakes nuclear negotiations
WORDS: 1055 - MOVED: 06/03/2025 8:33 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2cbea2d6982bd8806d7e8fa7771afc37&mediaType=text
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EUROPE-ECONOMY
Inflation slides to 1.9% in Europe, as worries shift from prices to Trump and tariffs
SUMMARY: Inflation in the 20 countries that use the euro fell to 1.9% in May from 2.2% in April, helping clear the way for more interest rate cuts from the European Central Bank. Cuts could support growth in the face of U.S. President Donald Trump's tariff offensive. The ECB's rate-setting council meets on Thursday under bank President Christine Lagarde to determine the next step on rates. Analysts expect a cut of a quarter percentage point and for Lagarde to indicate that at least one more cut is possible at future meetings.
WORDS: 312 - MOVED: 06/03/2025 8:04 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d0f6f49e56659b5b9b9abd3fd4d9b2b9&mediaType=text
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WORLD ECONOMY-OECD
US growth likely to slow to 1.6% this year, hobbled by Trump's trade wars, OECD says
SUMMARY: U.S. economic growth will slow to 1.6% this year from 2.8% last year as President Donald Trump's erratic trade wars disrupt global commerce, drive up costs and leave businesses and consumers paralyzed by uncertainty. World economic growth will slow to just 2.9% this year and stay there in 2026, according to the OECD's forecast. It marks a substantial deceleration from growth of 3.3% global growth last year. Trump's policies have raised average U.S. tariff rates to the highest since 1938, according to the OECD. Tariffs raise costs for consumers and American manufacturers that rely on imported raw materials and components.
WORDS: 544 - MOVED: 06/03/2025 7:50 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:b0e7a05c80035bc41f600d7710919730&mediaType=text
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EU--BRITAIN-THAMES WATER
US private equity firm KKR drops bid to buy troubled British utility Thames Water
WORDS: 328 - MOVED: 06/03/2025 4:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2e809a195898ff9f26ab588e6be68705&mediaType=text
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EU--BULGARIA-EURO DOUBTS
Bulgaria is close to joining the euro currency but faces disinformation and fear
WORDS: 904 - MOVED: 06/03/2025 3:26 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cd150e80f27141ecec18be097c3881f9&mediaType=text
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EU--POLAND-PRESIDENTIAL-ELECTION
Nawrocki's win turns Poland toward nationalism and casts doubt on Tusk's centrist government
SUMMARY: Conservative Karol Nawrocki's victory in Poland's presidential runoff has set the country on a more nationalist course. It also casts doubt on the viability of Prime Minister Donald Tusk's centrist government after the defeat of his liberal ally. Nawrocki was supported by U.S. President Donald Trump. He won just over 50% of votes in a tight race against Warsaw Mayor Rafa? Trzaskowski. Tusk now says he will ask parliament to hold a vote of confidence in his fragile coalition government. The election revealed deep divisions in the country along the eastern flank of NATO and the European Union.
WORDS: 1137 - MOVED: 06/03/2025 2:46 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:80a99eeb7a2f3ae64260a9263e7028ee&mediaType=text
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US--GOODYEAR BLIMPS-BY THE NUMBERS
The iconic Goodyear Blimp is 100. To celebrate, a flight over Ohio
SUMMARY: The iconic Goodyear airships are taking a "victory lap" over the skies of an Ohio city this week. The Akron-based company is celebrating the 100th anniversary of the inaugural flight of its first branded blimp, known as "Pilgrim," which took flight just outside of the city on June 3, 1925. Goodyear began experimenting with lighter than aircraft in the early 1900s, and the dirigibles have since become one of the most lasting and iconic corporate brand assets in the world. For some, it evokes nostalgia, while for others it offers a glimpse into a larger-than-life advertising symbol.
WORDS: 639 - MOVED: 06/03/2025 1:28 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1facd6116ed9a627b82994e75e9d0366&mediaType=text
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US--MEDIA-PENTAGON-REPORTER
OAN's Pentagon reporter learns the limits of expressing her own opinion
SUMMARY: Gabrielle Cuccia calls herself a "MAGA girl" who made no secret of her support for President Donald Trump, even as she got a job covering the Pentagon for the One America News Network. But when Cuccia wrote a Substack post criticizing Defense Secretary Pete Hegseth for new restrictions imposed on the press, she found herself out of a job within a few days. OAN wouldn't discuss her abrupt exit. Cuccia said her bosses were made aware of her Substack post, but wouldn't say by who. Traditionally it is frowned upon even for legacy media reporters to express opinions about the people they cover, although media access is often an area of exception.
WORDS: 878 - MOVED: 06/03/2025 12:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:dbb74d55d13564fcd0c53bad4b76dfbe&mediaType=text
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