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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NINTENDO SWITCH 2-REVIEW

DESCRIPTION: Nintendo's Switch 2 video-game console is out, and it makes some substantial improvements over its predecessor. The 7.9-inch portable display (up from 6.2 inches) boosts the resolution, and while the LCD screen isn't quite as sharp as an OLED screen might have been, it's much cleaner than the original model. The Switch 2 looks even better when connected to an HDTV, since it now supports 4K and HDR. However, the launch lineup of games is a bit sparse. The marquee title, Mario Kart World, is excellent, but if you don't feel the need for speed, you might want to wait.

UPCOMING: By 06/09/2025 11:30 a.m. EDT, Photo, Text

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NEW AND DEVELOPING

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US--MEDIA-ABC-MORAN

ABC's Terry Moran is suspended following his social media post calling Trump and Miller haters

SUMMARY: ABC News has suspended veteran correspondent Terry Moran for a since-deleted social media post calling Trump administration deputy chief of staff Stephen Miller a "world class hater." Moran was quickly condemned by officials in the Republican administration, including Vice President J.D. Vance, who says Americans should think of this when they watch ABC News' coverage. Moran's Sunday morning post on X said President Donald Trump is a hater, too, but for Miller, "his hatreds are his spiritual nourishment." New York-based ABC News says it stands for objectivity and impartiality in its news coverage and "does not condone subjective personal attacks on others."

WORDS: 223 - MOVED: 06/09/2025 10:23 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:db3b0e127ed977e3bca4c207c4349526&mediaType=text

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US--BIG DATA-POWER PLANTS

Amazon to spend $20 billion on data centers in Pennsylvania, including one at a nuclear power plant

SUMMARY: Amazon says it will spend $20 billion on two data center complexes in Pennsylvania, including one it is building alongside a nuclear power plant that has drawn federal scrutiny over its arrangement to essentially plug right into the power plant. Kevin Miller of Amazon's cloud computing subsidiary, Amazon Web Services, told The Associated Press on Monday that the company will build another data center complex just north of Philadelphia. The data centers are designed to meet growing demand for artificial intelligence products. Amazon has recently committed to big data center projects in Mississippi, Indiana, Ohio and North Carolina as it expands to compete with other tech giants.

WORDS: 307 - MOVED: 06/09/2025 10:16 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:31f705d035069279b70fa27a5dc71596&mediaType=text

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BRITAIN-GETTY IMAGES-AI COPYRIGHT

Getty Images and Stability AI face off in British copyright trial that will test AI industry

SUMMARY: Getty Images is facing off against artificial intelligence company Stability AI in a London courtroom for the first major copyright trial of the generative AI industry. Tech companies have long argued that "fair use" or "fair dealing" legal doctrines in the United States and United Kingdom allow them to train their AI systems on large troves of writings or images. Getty was among the first to challenge those practices when it filed copyright infringement lawsuits in the U.S. and UK in early 2023.

WORDS: 755 - MOVED: 06/09/2025 10:14 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:580ba200a3296c87207983f04cda4680&mediaType=text

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AS--CAMBODIA-THAILAND-BORDER DISPUTE

Tough talk drags on in Cambodia-Thailand border standoff. But tensions appear to be easing

SUMMARY: Cambodia's defense ministry says that the country's troops have not withdrawn from a patch of land whose ownership is hotly disputed by neighboring Thailand. But the ministry's declaration on Monday also echoed recent statements by both sides seeking a peaceful resolution to their competing border claims. Cambodian and Thai authorities engaged in saber-rattling last week after an armed confrontation at the border on May 28 left one Cambodian soldier dead. Each side blamed the other for the incident. It reportedly took place in a relatively small "no man's land" constituting territory along their border that both countries claim is theirs. Thai officials over the weekend said that both sides were backing down from another confrontation.

WORDS: 495 - MOVED: 06/09/2025 10:09 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:5ae4ab04f3abb52d7ee614438bdbd83c&mediaType=text

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US--WARNER BROS DISCOVERY-SPLIT

Warner Bros. Discovery to split into two companies, dividing cable and streaming services

SUMMARY: Warner Bros. Discovery will calve off cable operations from its streaming service, creating two independent companies as the number of people "cutting the cord" brings with it a sustained upheaval in the entertainment industry. HBO, and HBO Max, as well as Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, will become part of the streaming and studios company. The cable company will include CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service and Bleacher Report. Shares of Warner Bros. Discovery, based in New York City, jumped 11% at the opening bell.

WORDS: 441 - MOVED: 06/09/2025 9:55 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:1cdafec11e6cb542ca644e20dd29e826&mediaType=text

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FINANCIAL MARKETS

US stocks drift and Chinese markets rise as trade talks start between the world's largest economies

SUMMARY: U.S. stock indexes are nearly stuck in place as the world's two largest economies begin talks on trade that could help avoid a recession. The S&P 500 edged down by 0.1% in early Monday trading. The Dow Jones Industrial Average dipped 107 points, and the Nasdaq composite added 0.1%. Markets are waiting to hear what comes of trade talks between the United States and China taking place in London. Treasury yields were also largely on pause in the bond market. Chinese stocks rallied, while indexes were mixed amid mostly modest movements across the rest of Asia and Europe.

WORDS: 485 - MOVED: 06/09/2025 9:49 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:18b7fea5f711f5058c0b1b277faf94d0&mediaType=text

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US--APPLE-SHOWCASE

Apple heads into annual showcase reeling from AI missteps, tech upheaval and Trump's trade war

SUMMARY: After stumbling out of the starting gate in Big Tech's pivotal race to create artificial intelligence, Apple will try to regain its footing Monday with its annual showcase for the next generation of software powering the iPhone and other popular products. The presummer rite is expected be more subdued than the feverish anticipation that surrounded the event in 2023 when Apple unveiled a mixed-reality headset and last year when the company hyped AI features that didn't pan out as envisioned. Now Apple is facing nagging questions about its ability to innovate and ability to navigate a gauntlet of other challenges as it heads into this year's World Wide Developers Conference.

WORDS: 916 - MOVED: 06/09/2025 9:37 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:ba918c2091e0d49a8b3f164e4f980b6e&mediaType=text

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EU--US-CHINA-TRADE

US and China are holding trade talks in London after Trump's phone call with Xi

SUMMARY: High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy. A Chinese delegation led by Vice Premier He Lifeng is due to meet U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer on Monday. The talks are due to last at least a day. They follow negotiations in Geneva last month that brought a temporary respite in the trade war. The two countries announced May 12 they had agreed to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other.

WORDS: 312 - MOVED: 06/09/2025 8:26 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e9e87d76a81a5e51294368308d5af47d&mediaType=text

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EU--BRITAIN-POLITICS

British government reverses policy that limited home heating subsidies for retirees

WORDS: 349 - MOVED: 06/09/2025 8:17 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:8e2e69bebf6a2eec85b83ed81473a439&mediaType=text

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US--DEMOCRATS-CRYPTO

Democrats are drawing closer to the crypto industry despite Trump divisions

SUMMARY: The crypto industry is seeing growing support from the Democratic Party, though it's far from unanimous. A number of Democrats are supporting legislation in the Senate that would create a new regulatory structure for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. But other Democrats are against the bill as they condemn Republican President Donald Trump's efforts to profit from cryptocurrency while in office. Despite the tensions, the bill is expected to clear the Senate this month. The legislative push follows an election in which the crypto industry ranked among the top campaign spenders, pouring millions of dollars into tight Senate races.

WORDS: 1153 - MOVED: 06/09/2025 7:05 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9e56e7a4ea9881bc83d2c35a9a9a2a19&mediaType=text

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US--CONGRESS-TAX CUTS-SENATORS TO WATCH

Republican senators to watch in the maneuvering over Trump's big bill

SUMMARY: The Senate has set an ambitious timeline to pass President Donald Trump's sweeping legislation to cut taxes and spending. But getting it on the Republican president's desk by July 4 will require some big decisions, and soon. Republican senators are airing concerns about different parts of the legislation, including cuts to Medicaid, changes to food aid and the impact on the deficit. To push the bill to passage, Senate Majority Leader John Thune and other negotiators will need to find a compromise that satisfies both ends of their conference. And they'll need to ensure those changes don't threaten support in the House.

WORDS: 1146 - MOVED: 06/09/2025 6:25 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:ffc8fbb61fc0dcc1683453be9aa59f18&mediaType=text

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ML--EMIRATES-MAJID AL FUTTAIM

Dubai orders Mall of the Emirates owner to restructure its board

WORDS: 462 - MOVED: 06/09/2025 5:18 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:86891be1a1d250911eb61e85b4e54fcc&mediaType=text

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CHINA-TRADE

China says its exports to the US fell 35% in May, as trade talks are due to start in London

SUMMARY: China has reported its exports to the United States fell 35% in May from a year earlier, straining the economy, as trade talks with Washington were due to start in London. Customs data released Monday showed total exports rose 4.8% in May from a year earlier, much lower than economists' forecasts and down sharply from an 8.1% jump in April. Its imports declined 3.4% year-on-year, leaving a trade surplus of $103.2 billion. China's exports to the U.S. fell 9.7% in May to June. Exports to the U.S. sank even after U.S. President Donald Trump struck a deal with Beijing in early May to delay imposing stiff tariff hikes to allow time for talks.

WORDS: 577 - MOVED: 06/09/2025 4:20 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a6f55570462e4ffce106698ef23ac7be&mediaType=text

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ML--IRAQ-BAGHDAD-KURDS-OIL DISPUTE

Public employees in Iraq's Kurdish region caught in the middle of Baghdad-Irbil oil dispute

WORDS: 869 - MOVED: 06/09/2025 4:17 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:948d0682f42f0664ba9d6a0baca4799e&mediaType=text

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AF--KENYA-SLUM-CRYPTOCURRENCY

Bitcoin is introduced into Africa's largest slum, with risks and rewards

WORDS: 908 - MOVED: 06/09/2025 4:12 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:543883377ed5edaf3050296354268806&mediaType=text

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US--DIGITAL PRICE LABELS

Shoppers are wary of digital shelf labels, but a study found they don't lead to price surges

WORDS: 1043 - MOVED: 06/09/2025 12:10 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:132ef73fbbe2eb13a8c724b55fb458d1&mediaType=text

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