Why Is a $116B Mining Giant Backing a $10M Firm?

Rio Tinto rarely makes early-stage bets. Yet one small N. American firm earned its trust with projects in lithium, uranium, and titanium - all vital to U.S. defense and energy independence.

AP Business News Digest

JONEL ALECCIA
November 24, 2025

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.

US--Thanksgiving-Food Prices

Stores keep prices down in a tough year for turkeys. Other Thanksgiving foods may cost more

SUMMARY: Bird flu and another disease have shrunk the U.S. turkey population to a 40-year low this year. Wholesale turkey prices are expected to be up more than 40% as a result. But shoppers preparing for Thanksgiving may not see higher prices themselves because many grocers are offering discounted or even free turkeys to get customers in the door. Market research company Datasembly expects the 10 holiday meal staples it tacks to cost 4% more overall. Canned cranberry sauce had the biggest price increase after drought impacted production and new tariffs on steel made cans more expensive. Pricing out a Thanksgiving dinner isn't an exact science, though, and the firm's tally differed from other estimates.

WORDS: 1072 - MOVED: 11/23/2025 9:19 p.m. EST

https://newsroom.ap.org/detail/StoreskeeppricesdowninatoughyearforturkeysOtherThanksgivingfoodsmaycostmore/5754f2e4c7ca8747b75a4b3efe15297f/text

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Financial Markets

Wall Street points higher to kick off holiday-shortened trading week

SUMMARY: Wall Street was poised to kick off the holiday-shortened trading week with gains following last week's bumpy ride. Futures for the S&P 500 were up 0.5% before the bell Monday, while futures for the Dow Jones Industrial Average ticked up 0.2%. Nasdaq futures jumped 0.7%. This week, U.S. markets will be closed Thursday for the Thanksgiving holiday, which will be followed by the Black Friday and Cyber Monday retail rushes. Novo Nordisk shares tumbled 10% after the Danish drug maker reported that its Alzheimer's drug failed to slow progression of the disease in a trial.

WORDS: 461 - MOVED: 11/23/2025 11:20 p.m. EST

https://newsroom.ap.org/detail/WallStreetpointshighertokickoffholidayshortenedtradingweek/4aae117f7a02df19b82dcf1b5f58fd27/text

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AS--China-Flying-Cars

Takeoff of China's flying taxis hits turbulence

SUMMARY: Chinese companies are rushing to deploy low-flying vehicles and drones for various uses as the country finds innovative ways to drive its economy. Flying taxis, once a sci-fi dream, are being tested in southern China, where pilotless, oval-shaped crafts hover like mini helicopters. In Shenzhen, which neighbors Hong Kong, food-delivery drones already are part of daily life and a novelty attraction for tourists. The industry is growing with support from the government, but strict airspace controls, battery limitations and other obstacles are hindering the rise of the low-altitude economy. Analysts say the industry is still in its early stages and more obvious successes in commercialization may take years.

WORDS: 1141 - MOVED: 11/23/2025 8:30 p.m. EST

https://newsroom.ap.org/detail/TakeoffofChinasflyingtaxishitsturbulence/72e7eb6883bd0b865a05cbb041d505fb/text

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US--Trump-Tariffs-Tea

Tea tariffs once sparked a revolution. Now they are creating angst

SUMMARY: President Donald Trump's decision to back down from some tariffs is being celebrated by tea importers, who say the levies have been devastating this year. But the nature of the business means some prices could still rise. That's because much of next year's tea supply was already imported to the U.S. before tariffs were halted. The U.S. relies on foreign growers for nearly all of its tea and its history is uniquely entwined with tea tariffs. British Parliament's decision to begin taxing American colonists' tea sparked the revolt known as the Boston Tea Party and helped lead to the revolution that brought independence.

WORDS: 1042 - MOVED: 11/21/2025 2:07 p.m. EST

https://newsroom.ap.org/detail/TeatariffsoncesparkedarevolutionNowtheyarecreatingangst/9ea92d8d87c3afd233356ac728de41c0/text

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<END>

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