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--TRUMP-CALIFORNIA TARIFFS-LAWSUIT
DESCRIPTION: San Francisco -- Hearing on US request to transfer California's complaint against Trump tariffs to Court of International Trade and possible hearing on preliminary injunction request by state of California to stop tariffs. ON MERITS.
ON MERITS: By 05/27/2025 3:30 p.m. EDT, Text
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TRUMP TARIFFS-EUROPE
DESCRIPTION: The European Union's executive commission says it's pushing hard for a trade deal with the Trump administration. Time is tight, since Trump has said he'll impose a 50% tariff on imported goods if there's no agreement by July 9. A look at what Trump wants from Europe and how likely he is to get it.
UPCOMING: By 05/27/2025 4:00 p.m. EDT, Photo, Text
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NEW AND DEVELOPING
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FINANCIAL MARKETS
Wall Street's roller-coaster ride whips back upward after Trump pauses more of his tariffs
SUMMARY: Wall Street is climbing after President Donald Trump delayed a 50% tariff on goods coming from the European Union. The S&P 500 rose 1.4% Tuesday, and its gains built following a better-than-expected report on U.S. consumer confidence. The Dow Jones Industrial Average added 401 points, and the Nasdaq composite jumped 1.8%. They're on track to more than recover their losses from Friday, when Wall Street's roller coaster dropped after Trump announced the tariffs on the European Union. Nvidia was one of the strongest forces pushing the US stock market higher. Treasury yields eased in the bond market.
WORDS: 775 - MOVED: 05/27/2025 10:28 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6c2c99748c4fd0c2b30ece2df981cd67&mediaType=text
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TRUMP MEDIA-BITCOIN
Trump Media says investors will fund a company 'bitcoin reserve' through share purchases
SUMMARY: President Donald Trump's media company said Tuesday that institutional investors will buy $2.5 billion in the company's stock with the proceeds going to build up a bitcoin reserve. About 50 institutional investors will put up $1.5 billion in the private placement for common shares in the company and another $1 billion for convertible senior notes, according to Trump Media and Technology Group, the operator of Truth Social and other companies. Trump, who referred to cryptocurrencies in his first term as "not money," citing volatility and a value "based on thin air," has shifted his views on the technology.
WORDS: 190 - MOVED: 05/27/2025 10:30 a.m. EDT
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EU--EUROPE-PORN SITES
European Union investigates four major porn sites under bloc's digital rules on child protection
WORDS: 498 - MOVED: 05/27/2025 10:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f0e711529447e24a0e2d59b4858c0560&mediaType=text
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CONSUMER CONFIDENCE
US consumer confidence rebounds after five straight months of declines due to tariff anxiety
SUMMARY: Americans' views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump's tariffs. The Conference Board said Tuesday that its consumer confidence index rose 12.3 points in May to 98, up from April's 85.7, its lowest reading since May 2020. A measure of Americans' short-term expectations for their income, business conditions and the job market jumped 17.4 points to 72.8, but remained below 80, which can signal a recession ahead.
WORDS: 130 - MOVED: 05/27/2025 10:11 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cd4860a3aff316d90080f96e4487c3c5&mediaType=text
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US--SOUTHWEST-CHECKED BAGS
Final boarding call for free bags at Southwest as airline abandons a cherished perk
SUMMARY: It's the last day to book a flight on Southwest Airlines without being hit with a fee to check bags after the airline abandoned a decades-long luggage policy. Southwest Airlines will start charging many of its customers a fee to check bags beginning on Wednesday, abandoning a decades-long practice that its executives once described as key to differentiating the budget carrier from its rivals. The airline announced the change in March, saying at the time that the the new policy would start with flights booked on Wednesday.
WORDS: 482 - MOVED: 05/27/2025 9:49 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:5e1a887d57bf8d690f35ffab43572f3b&mediaType=text
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US--SALESFORCE-INFORMATICA
Salesforce is buying Informatica in deal worth approximately $8 billion
SUMMARY: Salesforce is buying AI-powered cloud data management company Informatica in an approximately $8 billion deal. Informatica's shareholders will receive $25 per share. The transaction will give Salesforce access to Informatica's data management capabilities. Both companies' boards have approved the deal, which is expected to close early in Salesforce's fiscal 2027.
WORDS: 236 - MOVED: 05/27/2025 9:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bca8e785b46794ad719d51cbca78161a&mediaType=text
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EU--EUROPE-TESLA
Tesla's monthly sales in Europe plunge by half, signaling backlash against Musk runs deep
SUMMARY: Tesla sales across Europe plunged by half last month even as growth in the electric car market picked up pace. That's according to fresh data released Tuesday. The numbers are the latest indication of how much the Tesla brand is suffering because of the backlash against billionaire CEO Elon Musk over his far-right views. Sales of Tesla vehicles in 32 European countries tumbled 49% in April compared with the same month the previous year. The figures were released by the European Automobile Manufacturers' Association. At the same time, sales of battery-electric vehicles by all manufacturers rose about 28%. Meanwhile, sales of gasoline and diesel powered cars slumped.
WORDS: 389 - MOVED: 05/27/2025 6:55 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:8501d6a8370b6a22c6bec7e52de7d50c&mediaType=text
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AS--JAPAN-7-ELEVEN
Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan
SUMMARY: Stephen Hayes Dacus has been approved to be the new chief executive of the operator of 7-Eleven, the first foreigner to lead the Japanese convenience store chain. The American, who has a Japanese mother, was appointed earlier to be chief executive of Seven & i Holdings Co., which operates the stores. A proposed acquisition by Alimentation Couche-Tard of Canada, which the company has so far rejected, was not up for vote at the shareholders' meeting where Dacus was approved. Seven & i is studying and discussing the proposal. Fluent in Japanese and English, Dacus previously worked at Walmart and Uniqlo, among other companies.
WORDS: 271 - MOVED: 05/27/2025 6:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:c9770713558ef27edb887b0ee1bee72a&mediaType=text
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AS--JAPAN-NISSAN
Japan's troubled automaker Nissan banks on hybrid EV technology
SUMMARY: Money-losing Japanese automaker Nissan is banking on its latest "e-Power" technology for a turnaround. The hybrid vehicle does not require charging through a plug but has a gasoline engine that charges its electric battery, which powers the motor. It doesn't switch back and forth between the motor and engine during the drive. That means the car always is running on its EV battery, ensuring a quiet, smooth ride. Nissan racked up a $4.5 billion loss for the fiscal year through March.
WORDS: 463 - MOVED: 05/27/2025 5:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:eb87779c2b251254768327aa713ce0a2&mediaType=text
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US--TRUMP-PUBLIC LANDS-DOGE
Here's what a Texas oil executive from DOGE is doing inside the Interior Department
SUMMARY: A Texas oil executive from Elon Musk's government efficiency team has been tasked with overhauling the federal agency that manages vast tracts of public lands. Tyler Hassen hasn't been confirmed by the Senate, and records show he hasn't filed an ethics commitment to break ties with companies regulated by the Interior Department, nor has he divested his investments in energy businesses These potential conflicts of interest are compounding the concerns of Democratic lawmakers and environmental advocates. Interior spokesperson Katie Martin said Hassen is working to realize the president's vision for a vastly overhauled federal government, and that Interior will prioritize retaining first responders, parks services and energy production employees.
WORDS: 1183 - MOVED: 05/27/2025 1:44 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:830e9df68c7869e943f96c4b5e384f20&mediaType=text
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