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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INVESTORS-WHAT TO DO?

DESCRIPTION: The typical advice for investors during volatile times as markets are currently experiencing to hold steady and remember you're in it for the long-term. But is anything different this time around?

UPCOMING: By 03/06/2025 12:00 p.m. EST, Photo, Text

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TREASURY-BESSENT

DESCRIPTION: The Economic Club of New York hosts Treasury Secretary Scott Bessent at 12 p.m. in New York. Treasury reporter Fatima Hussein monitoring, story on merits.

ON MERITS: By 03/06/2025 12:00 p.m. EST, Video, Photo, LiveVideo, Text

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SOUTH AFRICA MICROSOFT

DESCRIPTION: Microsoft president Brad Smith visits South Africa and attends a press event with South African President Cyril Ramaphosa. On merits.

UPCOMING: By 03/06/2025 1:00 p.m. EST, Video, Photo, Text

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NEW AND DEVELOPING

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AF--MALI-MINING-PERMITS SUSPENDED

Mali suspends artisanal gold mining permits for foreign companies after series of accidents

WORDS: 427 - MOVED: 03/06/2025 10:28 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:fec8a95a94cb21c762ba94c9d1422886&mediaType=text

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US-MACY'S-RESULTS

Macy's fourth quarter is mixed and its 2025 outlook is tempered by tariffs and leery shoppers

SUMMARY: Macy's swung to a profit in the fourth quarter, though sales dipped with shoppers still cautious about spending. The strength of the quarterly profit surprised Wall Street Thursday, but sales were just below expectations and uncertainty about both the American consumer and new tariffs seeped into the company's outlook for 2025. Macy's, which also runs Bloomingdale's and Bluemercury, reported net income of $342 million. Sales fell 4.3% to $7.77 billion. The department store expects to earn $2.05 to $2.25 per share in 2025 on revenue of between $21 billion and $21.4 billion. Both are blow what Wall Street had been projecting.

WORDS: 633 - MOVED: 03/06/2025 10:22 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:07ad9991e660c62138ebfb0e8e117f30&mediaType=text

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CN--CANADA-US-TARIFFS

Trudeau expects a trade war between Canada and the US for the 'foreseeable future'

WORDS: 219 - MOVED: 03/06/2025 10:20 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:58eaa333ef96d4f17965bb7004e6bee7&mediaType=text

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FINANCIAL MARKETS

Stock market today: Wall Street's drops kick back into gear as S&P 500 loses 1%

SUMMARY: U.S. stocks are resuming their slide, led by the market's AI superstars that are now feeling the painful downside of big expectations. The S&P 500 fell 1% Thursday, nearly erasing its mini-recovery from the prior day. The Dow Jones Industrial Average dropped 340 points, and the Nasdaq composite sank 1.1%. Semiconductor companies and their suppliers were particularly heavy weights on the market, after soaring in recent years because of the frenzy around artificial-intelligence technology. Retailers including Macy's also gave discouraging forecasts about how much U.S. households can continue to spend. President Donald Trump's tariffs have helped sour confidence among consumers.

WORDS: 872 - MOVED: 03/06/2025 10:16 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:1e09507d9731e30b315f91e6a178f7e9&mediaType=text

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US--TRUMP-TARIFFS-BUSINESS-UNCERTAINTY

Trump's erratic trade policies are baffling businesses, threatening investment and economic growth

SUMMARY: President Donald Trump's ever-changing, on-again, off-again tariff war with America's three biggest trading partners - Mexico, Canada and China -- is baffling businesses and causing them to delay or cancel the investments that help drive economic growth. Trade wars complicate the decisions businesses have to make - which suppliers to use, where to locate factories, what prices to charge. During Trump's first-term trade battles, U.S. business investment weakened late in 2019, convincing the Federal Reserve to cut its benchmark interest rate three times in second half of the year to provide some offsetting economic stimulus. Trump 2.0 is proving even more unnerving to business.

WORDS: 1198 - MOVED: 03/06/2025 10:02 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:2b01e586faf99bae3438d289f48a1add&mediaType=text

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US--BE WELL-WORKING WELL-MENOPAUSE

More than hot flashes: Women raise awareness about menopause symptoms and work

SUMMARY: Menopause affects about half the world's population at some point in life. Yet women often don't recognize their insomnia, migraine headaches and anxiety as side effects of declining hormone levels. Social stigma and a lack of information leave many dealing with symptoms that may impact their work and relationships. Some leave their jobs or reduce their hours as a result of difficulty finding health care providers who are trained to identify and treat severe menopause symptoms. There are steps employers and employees can take to make workplaces better for colleagues experiencing menopause, including providing access to knowledgeable doctors and starting support groups.

WORDS: 1272 - MOVED: 03/06/2025 9:59 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:c91eb76a8802c3dbbd5a0fdef219086c&mediaType=text

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AS--CHINA-CONGRESS-ECONOMY

China slams US tariffs, says its economy is resilient but there are no winners in a trade war

SUMMARY: China's commerce minister says Beijing will not yield to bullying and its economy can weather tariffs and other challenges, though there are "no winners in a trade war." Commerce Minister Wang Wentao stressed that Beijing is open to talks with the U.S. He and other senior Chinese officials spoke Thursday on the sidelines of the annual session of China's national congress, outlining Beijing's economic plans for 2025. Wang said that coercion and threats would not work and that China's role as a main trading partner of 140 nations means it has plenty of options. He added that China will act quickly to support companies and markets as needed.

WORDS: 541 - MOVED: 03/06/2025 9:53 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:bc6939090e5397d60e6d7880c82f3bb4&mediaType=text

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US--TARIFFS-TOYS

Toys are expected to cost more by fall due to new US tariffs on Chinese imports

SUMMARY: As toy inventors, toy manufacturers and buyers for stores that sell toys met for an annual trade show in New York last weekend, a topic besides which items were destined for holiday wish lists permeated the displays. President Donald Trump had announced he planned to further increase his tariff on Chinese imports. Would he? By Tuesday, Toy Fair attendees had their answer, and the talk about how it would affect the prices of playthings grew more urgent. The Toy Association notes that nearly 80% of the toys sold in the U.S. are sourced from China. The trade association's president says retail prices are expected to go up 15% to 20% by the back-to-school shopping season.

WORDS: 965 - MOVED: 03/06/2025 9:52 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:e6407f7625f0be76e752b3224ebaeb1b&mediaType=text

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US--PENNY PRESS MACHINES

The US penny costs nearly 4 cents to make. But for one sector of souvenir sellers, it's a living

SUMMARY: President Donald Trump talks of big change in his second term of office. But he's not forgetting small change. Trump ordered the Treasury Department to stop making pennies with a Feb. 10 sentence on his social media account that followed years of conservatives pointing out that putting a copper-coated zinc disc in your pocket costs the government more than a cent. It's almost 4 cents today. There is no sign that the U.S. Mint will stop pressing pennies, and Mint officials did not respond to requests for clarification this week. But the presidential penny pledge is already being felt in one niche world that depends on loading pennies into machines and persuading parents to feed a few dollars into machines that stamp designs on them.

WORDS: 769 - MOVED: 03/06/2025 9:50 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:6ea449332877ca36022d4db246c71e2f&mediaType=text

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AS--TAIWAN-US-TSMC

Taiwan says chipmaker's move to invest $100 billion in the US wasn't because of US pressure

WORDS: 413 - MOVED: 03/06/2025 9:50 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:71d3aeb2bc403a92ce8eccdd8c51c0c8&mediaType=text

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UNEMPLOYMENT BENEFITS

The number of Americans filing for jobless benefits falls as labor market remains sturdy

SUMMARY: Applications for U.S. jobless benefits fell last week as the labor market remains sturdy ahead of an expected purge of federal government employees. The number of Americans filing for jobless benefits fell by 21,000 to 221,000 for the week ending March 1, the Labor Department said Thursday. That's significantly fewer than the 236,000 new applications analysts expected. Weekly applications for jobless benefits are considered a proxy for layoffs, which have remained mostly in a range between 200,000 and 250,000 for years. The total number of Americans receiving unemployment benefits for the week of Feb. 22 rose by 42,000 to 1.9 million.

WORDS: 444 - MOVED: 03/06/2025 9:33 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:27acafb840a650f68211a5dd9a3fbef0&mediaType=text

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EUROPE-ECONOMY

European Central Bank cuts rates by quarter point with trade war a potential threat

SUMMARY: The European Central Bank is cutting interest rates by a quarter percentage point, lowering credit costs for consumers and businesses to support an economy that is struggling to show solid growth. The rate decision Thursday, which was widely expected by economists, was overshadowed by concerns over a potential trade war with the U.S. and the impact of a surge in defense spending, two factors that could upend expectations for growth and inflation. The ECB's rate-setting council lowered its benchmark deposit rate to 2.5%. That should provide support for growth by making it cheaper to borrow and buy a house or expand a factory.

WORDS: 646 - MOVED: 03/06/2025 9:15 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:d0df8908a463ff8b000ff858691a0025&mediaType=text

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US-MED--TRUMP-FDA COMMISSIONER

Trump's FDA nominee faces Senate questions after agency layoffs and resignations

SUMMARY: Dr. Marty Makary will answer questions from a Senate panel about his plans to lead the Food and Drug Administration. President Donald Trump nominated the surgeon and contrarian researcher to lead the powerful regulatory agency. If confirmed, Makary would take over at a turbulent period for FDA, which recently fired hundreds of employees fired, only to quickly rehire some of them. Health Secretary Robert F. Kennedy has called for a sweeping review of vaccines, antidepressants and other products regulated by FDA. Republicans generally support Kennedy's "Make America Healthy Again" agenda. But Senate Democrats are expected to press Makary on his willingness to break with Kennedy on some scientific issues.

WORDS: 533 - MOVED: 03/06/2025 8:52 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:3a502dc95c7fe98db71f0a39969e17fd&mediaType=text

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MORTGAGE RATES

Mortgage rates have declined but could stay at a level that makes it tough to afford a home

SUMMARY: Mortgage rates have been mostly declining in recent weeks, helping encourage prospective home shoppers just as the spring homebuying season gets going. But the same factors that have pulled mortgage rates to their lowest level since December -- signs that the U.S. economy is slowing and uncertainty over the potential fallout from the Trump administration's tariffs on imports -- are clouding the outlook for where mortgage rates will go from here.

WORDS: 650 - MOVED: 03/06/2025 8:23 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:990c0affee58009fcd34b4685e859f53&mediaType=text

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INSIDER Q&A-MORTGAGE RATES

EXp Realty CEO expects US home sales will rise modestly this year and a more buyer-friendly market

SUMMARY: Elevated mortgage rates and rising home prices are freezing out many would-be buyers, and that's keeping the U.S. housing market in a years-long slump. While home sales are off to a soft start this year, it's not all bad news. Mortgage rates have eased recently and the number of homes listed is up sharply from a year ago. Leo Pareja, CEO of brokerage eXp Realty, recently spoke to The Associated Press about why he expects home sales to rise this year even if mortgage rates stay high.

WORDS: 746 - MOVED: 03/06/2025 8:13 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:cd87496f63eccac89aa3ede3003450f3&mediaType=text

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US--TRUMP-WHY TARIFFS?

How Trump justifies his tariffs -- from budget balancing to protecting 'the soul' of America

SUMMARY: To President Donald Trump, "tariff" is more than "the most beautiful word in the dictionary." In Trump's view, tariffs are a cure for many of the nation's ills and a tool to reach new heights. As the Republican president has touched off a trade war with America's trading partners, he's offered an array of reasons to justify steep tariffs on goods coming from Mexico, Canada, China and beyond. Among his reasons: stopping the flow of illegal fentanyl, balancing the budget, making America rich and protecting "the soul" of America. Most economists see taxes paid on imports as capable of addressing unfair trade practices but are skeptical of the quasi-miraculous properties Trump claims they possess.

WORDS: 1092 - MOVED: 03/06/2025 7:16 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:50f0b4416234e63c7136eaa5c5f96759&mediaType=text

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EU--TURKEY-ECONOMY

Turkey's central bank lowers key interest rate as inflation slows

SUMMARY: Turkey's central bank has lowered its key interest rate by a further 2.5 percentage points days after official figures indicated a slowdown in inflation that has eroded households' purchasing power. The bank said Thursday it was reducing its benchmark one-week repo rate from 45% to 42.5%. It was the bank's third rate cut in a row and came after official data indicated that annual inflation has dipped to below 40% for the first time in nearly two years. The bank said, however, that it would review inflation trends and adjust rates cautiously in upcoming policy meetings.

WORDS: 311 - MOVED: 03/06/2025 6:53 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:c9f6e3006b5f0bce84ca21e189edc526&mediaType=text

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JAPAN-SEVEN & I

Japan's Seven & i sells retail business to Bain Capital for $5.4 billion, plans IPO

SUMMARY: Japan's Seven & I, the parent company of the Japanese 7-Eleven convenience store chain, says it is selling its supermarket store assets to Bain Capital for about $5.4 billion. The company announced the deal a day after naming Stephen Dacus, its board chairman, to be its president and CEO. It also said it plans an initial public offering in the U.S. of 7-Eleven or SEI, its convenience store business in North America, by the end of 2026. Funds from the IPO and sale to Bain will be returned to shareholders in the form of share buybacks. The deal follows Seven & I's rejection of a takeover bid by Canada's Alimentation Couche-Tard.

WORDS: 261 - MOVED: 03/06/2025 4:54 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:6788e712d917854868e34378460a683a&mediaType=text

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