Global Demand for Defense Metals Is Surging 7X

Lithium, uranium and titanium are at the center of a global race. Nations are scrambling to secure them for fighter jets, EVs, and reactors. One N. American project could help fill the West's critical-minerals gap.

AP Business News Digest

The Associated Press
November 05, 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.

EU--France-Shein

France suspends access to Shein online platform as the retailer opens its first store in Paris

SUMMARY: France's government says it is suspending access to online retail giant Shein until the company proves that its content conforms with French law. The decision, announced in a statement by the Finance Ministry, came after controversy over sex dolls with childlike features were found listed for sale on Shein's website. The move came on the same day that Shein opened its first permanent store in Paris inside one of the city's most iconic department stores. On Wednesday morning protesters camped outside the BHV department store, but crowds of shoppers turned out undeterred. Shein did not immediately respond to a request for comment.

WORDS: 767 - MOVED: 11/05/2025 5:33 a.m. EST

https://newsroom.ap.org/detail/FrancesuspendsaccesstoSheinonlineplatformastheretaileropensitsfirststoreinParis/e034b3016b77cdd6c30d640d37a8fd78/text

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Financial Markets

Wall Street dips as markets take in more earnings ahead of Supreme Court hearing on Trump's tariffs

SUMMARY: Technology stocks were dragging Wall Street modestly lower as markets take in another big batch of corporate earnings while waiting for the Supreme Court to decide on the legality of President Donald Trump's unilaterally imposed tariffs. Futures for the S&P 500 slipped 0.1% before the bell Wednesday, while futures for the Dow Jones Industrial Average were flat. Futures for the Nasdaq, where the most prominent tech companies trade, fell 0.2%. The software maker and AI darling Palantir fell 1.9% before markets opened Wednesday, even after it posted strong third quarter results. Chipmaker Advanced Micro Devices fell 4.3% following a similar decline Tuesday.

WORDS: 744 - MOVED: 11/04/2025 10:37 p.m. EST

https://newsroom.ap.org/detail/WallStreetdipsasmarketstakeinmoreearningsaheadofSupremeCourthearingonTrumpstariffs/0206035d2877de30454b7376904f1e9b/text

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EU--Britain-Earns-Marks & Spencer

Cyberattack on Marks & Spencer slices profits by more than a half

SUMMARY: British retailer Marks and Spencer saw its half-year profits more than halve as a result of a cyberattack that brought its online business to a grinding halt. In a statement Wednesday, M&S said its underlying pretax profits tumbled 55.4% to 184.1 million pounds ($240 million) in the six months to Sept. 27, largely on the back of a 40% collapse in online home and fashion sales after it was forced to halt website orders. Firm food sales helped cushion the blow. M&S had to stop all online sales for around six weeks and suffered empty shelves due to disruption to its logistics systems after hackers targeted the business around the Easter weekend.

WORDS: 511 - MOVED: 11/05/2025 7:05 a.m. EST

https://newsroom.ap.org/detail/CyberattackonMarksSpencerslicesprofitsbymorethanahalf/56e221ce55984cb18f52f84353c5a2d3/text

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US--McDonald's-Results

Snack Wraps' return helps boost McDonald's third quarter sales

SUMMARY: McDonald's sales got a lift from Snack Wraps and in the third quarter. The burger giant said Wednesday that its same-store sales, or sales at locations open at least a year, rose 3.6% for the July-September period. That was slightly ahead of Wall Street's forecast. The fan-favorite Snack Wraps returned to U.S. menus in July after a nine-year absence. In early September, McDonald's also introduced Extra Value Meals to woo back customers who've been turned off by high prices. Chicago-based McDonald's said its third quarter revenue rose 3% to $7.08 billion.

WORDS: 425 - MOVED: 11/05/2025 7:12 a.m. EST

https://newsroom.ap.org/detail/SnackWrapsreturnhelpsboostMcDonaldsthirdquartersales/9ef91c6feb45a2ef581f2445b8a8ac79/text

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Behind The Wheel-Expedition vs Yukon

Ford Expedition vs GMC Yukon, an Edmunds big SUV comparison

SUMMARY: Full-size three-row SUVs can fulfill many needs, with room for more than five passengers, a large cargo area, and the ability to pull a heavy trailer. Edmunds' automotive experts compare the new Ford Expedition with the recently updated GMC Yukon in critical areas -- power and fuel economy, space and towing, and technology -- to help car shoppers determine which is the better buy for them.

WORDS: 881 - MOVED: 11/05/2025 6:54 a.m. EST

https://newsroom.ap.org/detail/FordExpeditionvsGMCYukonanEdmundsbigSUVcomparison/f7e9fe6005a975dc0dd86ff04e166167/text

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AS--Japan-Earns-Toyota

Toyota reports a drop in profit as Trump's taxes hurt Japanese automakers

SUMMARY: Toyota has reported a 7% drop in profit for April to September. U.S. tariffs have hit Japanese automakers hard. On Wednesday, Toyota said its net profit for the period was 1.77 trillion yen, down from 1.9 trillion yen the previous year. Despite this, Toyota has raised its profit forecast for the fiscal year ending in March 2026 to 2.93 trillion yen. The company cites better vehicle sales and cost-cutting efforts. U.S. tariffs on Japanese automobiles fell to 15% in September. Toyota's sales have grown in the U.S. and Japan, with first-half sales up 5.8%.

WORDS: 349 - MOVED: 11/05/2025 3:15 a.m. EST

https://newsroom.ap.org/detail/ToyotareportsadropinprofitasTrumpstaxeshurtJapaneseautomakers/d59cd0e8b278c6ab37c3db709c38de5f/text

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Novo Nordisk-Metsera Bid

Novo Nordisk hikes Metsera bid to up to $10B in competition with rival Pfizer

SUMMARY: Novo Nordisk is raising the stakes in its push to outbid rival Pfizer for the development-stage drugmaker Metsera. Metsera says Novo is now offering to pay as much as $10 billion for Metsera, up from a previous bid for up to $9 billion that sparked litigation from Pfizer. Metsera said Pfizer also has changed an offer of $4.9 billion it made to in September to provide more cash up front. Metsera said Tuesday that the new Novo bid is superior, and Pfizer now has a window to negotiate. Pfizer Chairman and CEO Albert Bourla called the Novo offer "illusory."

WORDS: 456 - MOVED: 11/04/2025 10:38 a.m. EST

https://newsroom.ap.org/detail/NovoNordiskhikesMetserabidtouptoBincompetitionwithrivalPfizer/9d54f50a8109b1bbf806e850e501af09/text

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COVID Vaccines-Slow Sales

Pfizer COVID-19 vaccine sales tumble after government guidance on the shots narrows

SUMMARY: The fall COVID-19 vaccine season is starting slowly for Pfizer, with U.S. sales of its Comirnaty shots sinking 25% after federal regulators narrowed recommendations on who should get them. Approval of updated shots also came several weeks later than usual, and Pfizer said Tuesday that hurt sales as well. Many Americans get vaccinations in the fall, to give their bodies protection from disease surges in the coming winter. Experts say interest in COVID-19 shots has been declining, and that trend could pick up this fall due to anti-vaccine sentiment and confusion about whether the shots are necessary.

WORDS: 570 - MOVED: 11/04/2025 9:45 a.m. EST

https://newsroom.ap.org/detail/PfizerCOVIDvaccinesalestumbleaftergovernmentguidanceontheshotsnarrows/135becc90cb55ac1dfb6727d85f4f4db/text

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US--Boeing-Crash-Lawsuits

Jury is picked in Boeing's first civil trial over payouts to families of Ethiopia crash victims

SUMMARY: More than six years after a Boeing 737 Max crashed in Ethiopia, the first civil trial stemming from the disaster is set to proceed in Chicago. An eight-person jury was selected Tuesday and will be asked to decide how much Boeing should pay the families of two victims who died in the March 2019 crash. Opening statements were scheduled to begin Wednesday. The trial won't examine liability since Boeing already accepted legal responsibility for the crash. The aircraft maker has settled most wrongful death lawsuits from the crash. Lawyers say about 14 more cases remain open.

WORDS: 737 - MOVED: 11/04/2025 7:22 a.m. EST

https://newsroom.ap.org/detail/JuryispickedinBoeingsfirstciviltrialoverpayoutstofamiliesofEthiopiacrashvictims/84098e93821ccbaace391b3cf72dc866/text

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US--American Airlines-Layoffs

American Airlines announces cuts to management at its Texas headquarters

SUMMARY: American Airlines has announced plans to cut a small number of management and support roles, mainly at its headquarters in Fort Worth, Texas. The company said Tuesday that the layoffs are part of an effort to adjust its workforce to match current needs. American did not say the exact number of jobs affected. A spokesperson for the carrier declined to further comment. Airlines, including American, hired aggressively after the pandemic to meet increased travel demand. But that demand slowed earlier this year due to wider economic uncertainty.

WORDS: 186 - MOVED: 11/04/2025 5:32 p.m. EST

https://newsroom.ap.org/detail/AmericanAirlinesannouncescutstomanagementatitsTexasheadquarters/79dc5f60ce850d4cf3fcb9b5fa53fefd/text

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Financial Markets-Box

How major US stock indexes fared Tuesday, 11/4/2025

SUMMARY: Stocks fell on Wall Street, pulled down by losses in the same big tech companies that have been the main drivers of the market's rally so far this year. The S&P 500 slid 1.2% Tuesday. The Dow Jones Industrial Average lost 0.5%. The drops in tech pulled the Nasdaq composite down 2%. Palantir Technologies, which had more than doubled so far this year, slumped 7.9% despite reporting results that beat analysts' forecasts. Nvidia also reversed course with a loss of 4%. Metsera jumped after a bidding war for the drug company heated up with a bid from Novo Nordisk.

WORDS: 260 - MOVED: 11/04/2025 4:37 p.m. EST

https://newsroom.ap.org/detail/HowmajorUSstockindexesfaredTuesday/756f19f27ab7308bed90f1843dcf737d/text

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Financial Markets

Losses for Big Tech pull Wall Street lower

SUMMARY: Stocks fell on Wall Street, pulled down by losses in the same big tech companies that have been the main drivers of the market's rally so far this year. The S&P 500 slid 1.2% Tuesday. The Dow Jones Industrial Average lost 0.5%. The drops in tech pulled the Nasdaq composite down 2%. Palantir Technologies, which had more than doubled so far this year, slumped 7.9% despite reporting results that beat analysts' forecasts. Nvidia also reversed course with a loss of 4%. Metsera jumped after a bidding war for the drug company heated up with a bid from Novo Nordisk.

WORDS: 796 - MOVED: 11/04/2025 12:04 a.m. EST

https://newsroom.ap.org/detail/LossesforBigTechpullWallStreetlower/c339a15fc5beb5a9a95510bde3c8a726/text

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US--Pizza Hut-Sale

Pizza Hut's parent company says it's considering selling the chain

SUMMARY: Pizza Hut could soon be up for sale. Yum Brands, Pizza Hut's parent company, said Tuesday it's conducting a formal review of options for the brand, which has struggled to compete in a crowded pizza market. Yum CEO Chris Turner said Pizza Hut has many strengths, including a global footprint and strong growth in many countries. Pizza Hut has nearly 20,000 stores in more than 100 countries, and its international sales were up 2% in the first nine months of this year. But the brand has struggled in the U.S., where it gets nearly half its sales. Yum Brands said there is no deadline for completion of the review.

WORDS: 482 - MOVED: 11/04/2025 11:01 a.m. EST

https://newsroom.ap.org/detail/PizzaHutsparentcompanysaysitsconsideringsellingthechain/ba818d29eb38fd91af5bed8a8d8ea59c/text

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Tesla-Shareholders

Big Tesla investor will vote against Musk's massive pay package

SUMMARY: Norway's sovereign wealth fund, one of Tesla's biggest investors says it will vote against a proposed compensation package that could pay CEO Elon Musk as much as $1 trillion over a decade. There will be more than a dozen company proposals up for a vote Thursday during Tesla's annual meeting, but none have generated more division than Musk's potentially massive pay package. The fund has a 1.16% stake, the sixth largest holding among institutional investors. Baron Capital Management, which holds about 0.4% of Tesla's outstanding shares said Monday that it will vote in favor of the compensation package.

WORDS: 293 - MOVED: 11/04/2025 7:44 a.m. EST

https://newsroom.ap.org/detail/BigTeslainvestorwillvoteagainstMusksmassivepaypackage/2c5a5323a4cd95973d3879a17a3adb8f/text

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US--Nippon-US-Steel

US Steel details plans to invest $11 billion by 2028 across all business segments

SUMMARY: United States Steel on Tuesday detailed an $11 billion growth plan with new owner Nippon Steel that includes modernizing the century-old steelmaker. U.S. Steel says it has identified more than 200 initiatives to drive operational efficiencies across all business segments, assisted by nearly 50 professionals from Nippon Steel. The company is upgrading its manufacturing operations and expanding research and development to feature "higher value, lower emission steel."

WORDS: 314 - MOVED: 11/04/2025 1:45 p.m. EST

https://newsroom.ap.org/detail/USSteeldetailsplanstoinvestbillionbyacrossallbusinesssegments/8c3febc45bb65c84202b46a3fa61fd2d/text

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Chrysler-Jeep-Recall

Chrysler recalls 320,000 Jeep plug-in hybrids due to faulty battery that can catch fire

SUMMARY: Chrysler is recalling more than 320,000 Jeep plug-in hybrid vehicles due to a faulty battery that can fail and lead to a fire, U.S. traffic safety regulators said. Owners of the vehicles, which include 228,221 Jeep Wranglers model years 2020-2025 and 91,844 Jeep Grand Cherokees model years 2022-2026, are being advised to park the vehicles outside and away from structures until a remedy for the problem is determined. Vehicle owners are also being told not to charge their vehicles, the National Highway and Traffic Safety Administration said. Chrysler, which is owned by Netherlands-based Stellantis, is aware of 19 reports and 1 injury potentially related to the issue.

WORDS: 213 - MOVED: 11/04/2025 11:04 a.m. EST

https://newsroom.ap.org/detail/ChryslerrecallsJeeppluginhybridsduetofaultybatterythatcancatchfire/33cc4f8cfb1f95b3aebdb10d54eb4b9e/text

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Vulcan-US-Rare Earths

Trump administration and private investors sign off on $1.4 billion deal with rare earth startups

SUMMARY: The Trump administration and private investors are partnering with two rare earth startups in a $1.4 billion deal to scale up the nation's access to materials and technology that is crucial for producing an array of high-tech goods and military equipment. The investment in Vulcan Elements and ReElement Technologies is the latest stake taken by the U.S. in a handful of private companies -- including another rare earths company and chipmaker Intel. The White House has made it a priority to bolster the nation's supply chain in a market dominated by China. Vulcan Elements manufactures rare earth magnets, while ReElement processes rare earth mineral ores and recycles old batteries and other products made with rare earths

WORDS: 539 - MOVED: 11/04/2025 1:44 p.m. EST

https://newsroom.ap.org/detail/Trumpadministrationandprivateinvestorssignoffonbilliondealwithrareearthstartups/17647d7219ab8b8098fce5fc66975fdd/text

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EU-Britain-Getty-Images-AI-Copyright

Stability AI largely wins UK court battle against Getty Images over copyright and trademark

SUMMARY: Stability AI has mostly prevailed against Getty Images in a British court battle over intellectual property. The judge's decision, released Tuesday, shows Getty narrowly winning its trademark infringement argument but losing its copyright claim. Both sides claimed victory. Getty says the ruling is a significant win for intellectual property owners, while Stability is pleased the copyright concerns are resolved. The case is part of a wave of lawsuits by creative industries against tech companies using their works to train AI. Getty is also pursuing a copyright lawsuit against Stability in the United States.

WORDS: 767 - MOVED: 11/04/2025 6:57 a.m. EST

https://newsroom.ap.org/detail/StabilityAIlargelywinsUKcourtbattleagainstGettyImagesovercopyrightandtrademark/fa2c561a33c7b6714a7657255a3fbdf1/text

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<END>

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