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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COPPER PRICES

DESCRIPTION: Driven by government stimulus in China and threats of a U.S. tariff, copper prices have soared to record highs.

UPCOMING: By 03/26/2025 2:00 p.m. EDT, Photo, Text

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US RENEWABLE ENERGY TRANSMISSION FIGHT

DESCRIPTION: Native American tribes and environmentalists are asking a federal appeals court to weigh in on their request to halt construction along part of a $10 billion transmission line that will carry wind-generated electricity from New Mexico to customers as far away as California. The disputed stretch of the SunZia Transmission line is in southern Arizona’s San Pedro Valley. Oral arguments are scheduled for Wednesday. Developing ON MERITS from 9am PT hearing.

ON MERITS: By 03/26/2025 2:30 p.m. EDT, Photo, Text

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US HYUNDAI GEORGIA

DESCRIPTION: Executives of Hyundai Motor Group celebrate the opening of the South Korean automaker’s first U.S. assembly plant for electric vehicles. Though billed as a “grand opening,” the event comes six months after Hyundai began manufacturing EVs at the site west of Savannah.

UPCOMING: By 03/26/2025 6:00 p.m. EDT, Photo, Text

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NEW AND DEVELOPING

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EU--BRITAIN-ECONOMY

UK government halves 2025 growth forecast to 1% and confirms defense spending boost

SUMMARY: The U.K. Treasury chief says the economy will only grow by 1% this year, half the rate previously anticipated. Rachel Reeves addressed lawmakers in a statement about the state of the public finances against the backdrop of sluggish economic growth that she blamed on a volatile international environment. Reeves unveiled measures intended to meet her self-imposed budget rules. They include welfare cuts as well as measures to rein in tax avoidance and tax evasion.

WORDS: 701 - MOVED: 03/26/2025 10:24 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:79d215bf9f48551e8797c1dcddb8753c&mediaType=text

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AS--INDONESIA-CHINA-NICKEL PLANT ACCIDENT

Sludge collapse kills 1 at a Chinese-funded nickel plant in Indonesia

WORDS: 254 - MOVED: 03/26/2025 10:22 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a21160d114540ebf84e9e2871225f558&mediaType=text

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CLIMATE-RENEWABLE ENERGY BOOM

Renewable energy jumps to new high, powered by China solar boom

SUMMARY: An international agency reports that the installation of renewable energy worldwide hit a record high last year, with 92.5% of all new electricity brought online coming from the sun, wind or other clean sources. Wednesday’s report from the International Renewable Energy Agency says nearly two-thirds of the new renewable electricity generated in 2024 was in China. Overall, the world has added 585 billion watts of new renewable electrical energy. That’s a 15.1% jump from 2023. But the report says the world still is not on track to reach its goal of tripling renewable energy by 2030.

WORDS: 517 - MOVED: 03/26/2025 10:21 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6d570ec401b6762453ec3af0ce973694&mediaType=text

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US--HOUSING CRISIS-ALTERNATIVE SOLUTIONS

3D printed and factory-built homes could help tackle housing crisis

SUMMARY: Businesses and lawmakers are trying to address the U.S. affordable housing crisis by turning to alternative ways to build homes. These include 3D printing houses out of concrete, building homes in a factory and shipping them to their final destination, and even using the hemp plant in construction. The 3D printing technology is far off from making a dent in the crisis, but proponents hope its speed in building walls can bring down construction time and costs. Modular and manufactured homes, built inside a factory, are gaining ground in the U.S., with homes built in a matter of days. Hemp, a plant related to marijuana, has also shown promise when combined with other materials to build more cheaply and efficiently.

WORDS: 1130 - MOVED: 03/26/2025 10:02 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:b61a54e0caee09f221b859fd99b18a43&mediaType=text

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US--FINANCIAL WELLNESS-FIRST TIME FILERS

Got your first job? Here are some tax tips for first-time filers

SUMMARY: The deadline to file your taxes is less than a month away, and if you’re doing them for the first time, you might be feeling added pressure. Experts say that planning ahead, doing your research and talking with experts can help first-time filers feel better about their taxes. The deadline to file is April 15. If you run out of time, you can file for an extension until Oct. 15. Experts also suggest gathering relevant documents, like your W-2s or 1099 forms, and researching relevant tax credits and deductions.

WORDS: 1064 - MOVED: 03/26/2025 10:02 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9489cd51a45e5a41e51f6f89bb401c39&mediaType=text

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FINANCIAL MARKETS

Stock market today: Wall Street is drifting again after getting whipsawed for weeks

SUMMARY: Wall Street is drifting and potentially heading toward a second quiet day following weeks of scary swings, both down and up. The S&P 500 edged down by 0.1% in early Wednesday trading. The Dow Jones Industrial Average added 97 points, and the Nasdaq composite slipped 0.4%. GameStop jumped to one of the market’s bigger gains after reporting better-than-expected results and saying it would put some of its treasury into bitcoin. Dollar Tree fell after saying it’s selling the Family Dollar chain to a pair of private equity firms. Treasury yields were higher following another mixed report on the U.S. economy.

WORDS: 397 - MOVED: 03/26/2025 9:44 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:352fd536517d6824d7006c429651e3a2&mediaType=text

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AS--JAPAN-BRAZIL

Leaders of Brazil and Japan stress importance of multilateralism and agree to strengthen ties

SUMMARY: Brazilian President Luiz Inácio Lula da Silva has stressed the importance of free trade and multilateralism and decried threats against democracy as he and Japan’s Prime Minister Shigeru Ishiba agreed to step up ties across the board. The two leaders adopted an action plan for the next five years to bolster their cooperation from security to economy and trade to climate change. Lula said Wednesday in Tokyo that now is a perfect time to reactivate the strategic partnership when democracy and multilateralism are threatened and protectionism is rising in a number of countries.

WORDS: 395 - MOVED: 03/26/2025 9:43 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:97f3c78c220595b6cf1b2029cb4e6692&mediaType=text

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US--DOLLAR TREE-FAMILY DOLLAR

Dollar Tree sells Family Dollar to private equity firms after a decade of trying to find a fit

SUMMARY: Dollar Tree is selling Family Dollar to a pair of private equity firms in a deal worth approximately $1 billion after unsuccessfully trying to incorporate it into its business for a decade. Dollar Tree Inc. had been reviewing possible options for Family Dollar for a while and said Wednesday that the sale to Brigade Capital Management and Macellum Capital Management will now allow it to focus on its core business.

WORDS: 315 - MOVED: 03/26/2025 9:42 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:dfbeef22b260851cc1f95b6db9e93618&mediaType=text

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SEWAGE SLUDGE-HOW IT’S MADE

Sewage sludge can find a second life on farm fields. Here’s how it’s made

SUMMARY: What goes down your toilet and drain can end up on farm fields across the United States. Biosolids, or sewage sludge, are the solid byproducts of the wastewater treatment process. So how does this nutrient-rich residue come about? At most sewage treatment plants, the process starts when wastewater arrives and screens are used to filter out large debris such as toilet paper and trash. After that, a sedimentation tank uses gravity to separate more of the solids from the liquid. Other steps use microbes to aid in decomposition, centrifuges to thicken the solids, more microbes, and then heat to kill off most pathogens. One more thickening step and the material is ready to apply on a farm field.

WORDS: 680 - MOVED: 03/26/2025 9:33 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:05d3656b76223b54b3e14fe0831dd875&mediaType=text

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US--SEWAGE SLUDGE-FARMLAND

Residue from human waste has long wound up as farm fertilizer. Some neighbors hate it

SUMMARY: Opposition to the use of sewage sludge as fertilizer is growing across the country. While the practice has been happening for decades, there are increasing concerns about potential pollution of groundwater from toxic chemicals in wastewater. Now the battle over how to place guardrails on the practice is playing out in legislatures even in red states like Oklahoma. Maine has temporarily banned the land application of sewage sludge and Oklahoma is considering a similar ban. Many other states are more closely regulating the practice. One big concern is the human health risk from toxic per- and polyfluoroalkyl substances (PFAS), also known as forever chemicals because they don’t degrade in the environment.

WORDS: 1026 - MOVED: 03/26/2025 9:31 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:27ef39f1561f66548b1cca5ce46062d4&mediaType=text

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US--BLACK-OWNED BRANDS-NEW CLIMATE

Founders of Black-owned brands adapt their hopes and business plans for a post-DEI era

SUMMARY: The Black creators of some consumers products are rethinking their business plans as major U.S. companies end or water down their diversity, equity and inclusion programs. Big retail chains pursued partnerships with Black-owned brands after the 2020 police killing of George Floyd. Some brand founders suspect a more hostile climate for DEI means those opportunities are over. The owners of a Texas company that makes jigsaw puzzles from the work of Black artists got their products picked up by Macy’s and Nordstrom a few years. These days, they wonder if they need to offer “neutral” subjects to keep growing. Other Black entrepreneurs feel pressure to cancel their contracts with retailers like Target and Walmart.

WORDS: 1223 - MOVED: 03/26/2025 9:15 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:54574b737a34b50dd77badc3db5c2816&mediaType=text

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US--BEHIND THE WHEEL:-BIG SUVS-$30K

Edmunds: Five best used three-row SUVs for under $30,000

SUMMARY: A three-row SUV is ideal for car shoppers who need extra space for transporting lots of people and plenty of cargo. The best of the breed come loaded with driver aids and the latest in onboard technology, too. Except, with the average price of a new vehicle hovering around $50,000, finding that perfect new SUV could be out of reach for many people. This is why the automotive experts at Edmunds have compiled five of the best used three-row SUVs that deliver loads of value and practicality, minus the eyebrow-raising price tag of a brand-new model.

WORDS: 869 - MOVED: 03/26/2025 6:32 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a9e9d5bdf9700b4b0520456a44051e80&mediaType=text

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US-CHINA-TRADE

US adds Chinese tech firms to its export control list, says they sought US knowhow for military use

SUMMARY: The U.S. has added dozens of companies to its export control, including more than 50 based in China that it says sought advanced knowhow in supercomputing, artificial intelligence and quantum technology for military purposes. Companies from Taiwan, Iran, Pakistan, South Africa and United Arab Emiriates also were included in the updated list. Six are subsidiaries of the Inspur Group, which is China’s leading cloud computing and big data service provider and was already listed in the U.S. government’s entity list. The tightening of controls comes as the Trump administration prepares for another round of tariff hikes due next week.

WORDS: 515 - MOVED: 03/26/2025 6:24 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:44c6a0fd445814a4b5fa40c7baa178ca&mediaType=text

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AS--JAPAN-NISSAN

Nissan’s new CEO says the Japanese automaker will move faster to achieve a turnaround

SUMMARY: The chief-executive-to-be at money-losing Japanese automaker Nissan is determined to speed up the company’s decision-making to come up with models that say Nissan — and really sell. Ivan Espinosa, 46, chief planning officer and a Mexican with two decades of experience at Nissan, told reporters in embargoed comments for Wednesday that Nissan’s corporate culture has to change. He said Nissan needs to work together better as a team. Nissan recently appointed Espinosa to take its helm, effective April 1, replacing Makoto Uchida. Uchida stepped down after the company projected a loss for this fiscal year. Espinosa also said he was open to various partnerships.

WORDS: 530 - MOVED: 03/26/2025 5:55 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:67b308f9ce1b91d3e98c55cb99ca02d8&mediaType=text

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US--SUPREME COURT-TELECOMMUNICATIONS FEE

Supreme Court takes up $8 billion phone and internet subsidy for rural and low-income areas

SUMMARY: The Supreme Court is hearing arguments in a major legal fight over the $8 billion a year the federal government spends to subsidize phone and internet services in schools, libraries and rural areas, in a new test of federal regulatory power. The justices on Wednesday are reviewing an appellate ruling that struck down as unconstitutional the Universal Service Fund, the tax that has been added to phone bills for nearly 30 years. The 5th U.S. Circuit Court of Appeals ruled that Congress has given too much authority to the Federal Communications Commission and the agency in turn has ceded too much power to a private entity. A decision is expected by late June.

WORDS: 541 - MOVED: 03/26/2025 12:27 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c51526ec5c78ed913064b1c4d3399ba2&mediaType=text

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