Business News Digest

The Associated Press

March 14, 2025

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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CANADA-MARKET SLUMP

DESCRIPTION: All eyes have been on the U.S. stock market, but the spat between the U.S. and its key trading partners has knocked Canada's main stock index down from an all-time high.

UPCOMING: By 03/14/2025 11:00 a.m. EDT, Photo, Text

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VANCE

DESCRIPTION: Vice President JD Vance will tour a plastics facility in Michigan on Friday with Kelly Loeffler, who leads the Small Business Administration, as the Trump administration looks to highlight what it calls "America's industrial resurgence."

UPCOMING: By 03/14/2025 2:00 p.m. EDT, LiveVideo, Text, Video, Photo

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US-TRUMP TARIFFS-KENTUCKY

DESCRIPTION: President Donald Trump's blunt-force use of tariffs has forged an unusual bipartisan alliance among Kentucky's most prominent leaders -- Democratic Gov. Andy Beshear and Republican Sens. Mitch McConnell and Rand Paul.

UPCOMING: By 03/14/2025 1:30 p.m. EDT, Photo, Text

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CHINA-FOOD-BRANDS-EXPANSION

DESCRIPTION: Chinese food and beverage brands are gaining ground across Southeast Asia, offering alternatives to big name American chains and expanding Beijing's commercial and cultural influence in neighboring economies. The Chinese beverage giant Mixue Group has become the world's largest F&B chain by number of outlets, overtaking Starbucks and McDonalds. The company, whose brand name Mixue Bingcheng means "Honey Snow Ice City," in Chinese, is capitalizing on the region-wide sweet tooth with affordable offerings of ice cream and bubble tea. Other market stars include hotpot giant Haidilao, Fish With You sauerkraut fish restaurants, and well-known tea brands like Heytea and Chagee.

UPCOMING: By 03/14/2025 10:00 p.m. EDT, Photo, Text, Video

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NEW AND DEVELOPING

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FINANCIAL MARKETS

US stocks rally after their sell-off, but not by enough to keep them from a 4th straight losing week

SUMMARY: U.S. stocks are rallying, but not by enough to keep Wall Street from a fourth straight losing week. The S&P 500 rose 1% Friday, a day after closing more than 10% below its record for its first "correction" since 2023. The Dow Jones Industrial Average added 241 points, and the Nasdaq composite climbed 1.3%. Ulta Beauty helped lead the market after the beauty products retailer reported stronger profit for the latest quarter than analysts expected. Worries have been rising that U.S. consumers may pull back on their spending because of tariffs. A preliminary survey suggested U.S. consumer sentiment is souring even more.

WORDS: 764 - MOVED: 03/14/2025 10:26 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:99a47b4146ef7204ea94e0e5e46e5c26&mediaType=text

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CN--CANADA-CARNEY-PRIME MINISTER

Former central banker Mark Carney to be sworn in as Canada's new prime minister

WORDS: 340 - MOVED: 03/14/2025 9:41 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:46b29cfb1d40a8ade38f003774934792&mediaType=text

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US--FLORIDA CITRUS' FUTURE

Hit by storms and disease, Florida's citrus growers try to survive until bug-free trees arrive

SUMMARY: Florida's citrus growers are struggling to survive the one-two punch of hurricanes and disease. As production of the state's signature crop has declined in recent years, many citrus farmers have sold their land rather than wait for the development of a genetically modified tree that could save their groves. The downturn in the citrus industry has been a boon for developers looking to build homes for the state's rapidly expanding population. Florida has the third largest population of all U.S. states and last year the Sunshine State expanded by more than 450,000 people.

WORDS: 1014 - MOVED: 03/14/2025 9:06 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:1b15f4d51cd6df41188a1884aa38dd8e&mediaType=text

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EU--BRITAIN-ECONOMY

UK economy unexpectedly shrinks in January, in blow to Treasury chief ahead of key statement

SUMMARY: The British economy unexpectedly shrank during January, piling pressure on Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month. Official figures Friday showed that the economy, the world's sixth-largest, saw output drop by 0.1% during the month, in contrast to expectations for a modest increase and December's solid 0.4% gain. Though monthly figures are notoriously volatile and prone to future revision, the decline puts in sharp relief the struggles the Labour government, elected last July after 14 years in opposition, is having in generating growth. The monthly decline is an uncomfortable backdrop for Reeves before she delivers a budget statement to Parliament on March 26.

WORDS: 438 - MOVED: 03/14/2025 7:29 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:5ca1dae87e8db957a32e625d4b07f322&mediaType=text

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EU--BRITAIN-COIN-LENNON

John Lennon gets honored on UK coin collection in what would have been his 85th year

SUMMARY: John Lennon is being honored in a specially minted British coin collection to mark the year the Beatles legend and peace advocate would have turned 85. The Royal Mint said Friday that the coin features a portrait of Lennon that is based on a famous image taken by music industry photographer Bob Gruen in 1974. It depicts a side profile of Lennon taken on the roof of his penthouse in New York. Lennon was shot dead by Mark David Chapman in the city on Dec. 8, 1980 at the age of 40. Lennon fans and coin collectors will be able to buy the coins from the Royal Mint's website from Monday.

WORDS: 356 - MOVED: 03/14/2025 7:14 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:0ae99e42b4e1aa1ca997740f985fcf6b&mediaType=text

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US--PLANE FIRE-DENVER

American Airlines Boeing 737 catches fire at Denver airport

SUMMARY: Twelve people have been taken to hospitals after an American Airlines passenger plane landed at Denver International Airport and caught fire, prompting slides to be deployed so passengers could evacuate quickly. The Denver International Airport says the people taken to hospitals had minor injuries. The Federal Aviation Administration says Flight 1006 was headed from Colorado Springs to Dallas Forth Worth on Thursday. After the crew reported engine vibrations, it diverted to Denver and landed safely around 5:15 p.m. The FAA says that while taxiing to the gate, an engine caught fire.

WORDS: 301 - MOVED: 03/14/2025 6:57 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a3fab66c0caf6b1bca541681bac82f8d&mediaType=text

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ML--SYRIA-QATAR-ELECTRICITY

Qatar will send natural gas to Syria to increase its meager electricity supply

WORDS: 358 - MOVED: 03/14/2025 6:56 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:de3c12491048b5470b1a54beee29efd6&mediaType=text

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CHINA-ECONOMY

China orders banks to boost lending, credit card use to get consumers to spend more

WORDS: 401 - MOVED: 03/14/2025 3:32 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:7ac99baf099083099b6b87b2d24944eb&mediaType=text

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LT--PERU-GERMANY-ENVIRONMENTAL LAWSUIT

Peruvian farmer's case against German energy giant RWE could reshape global climate accountability

SUMMARY: A groundbreaking climate lawsuit heads to trial in Germany next week, as Peruvian farmer Saúl Luciano Lliuya challenges German energy giant RWE. The case could set a major precedent by holding large polluters legally accountable for climate change. Lliuya claims RWE's greenhouse gas emissions have fueled glacial melt above his hometown of Huaraz, Peru, causing Lake Palcacocha to swell and threaten catastrophic flooding. His lawsuit argues for corporate responsibility in climate damages, with potential global implications. RWE denies legal responsibility, asserting that climate change results from numerous global contributors and should be addressed through policy, not the courts.

WORDS: 928 - MOVED: 03/14/2025 2:23 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4ce86fa6fdbd822f878ecf3c750ca97d&mediaType=text

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US--FINANCIAL WELLNESS-STUDENT LOANS-TRUMP

Some student loan repayment plans have been suspended. Here's what borrowers should know

SUMMARY: The Trump administration's recent changes to student loans are causing frustration and confusion for some borrowers. In response to a February court ruling that blocked some Biden-era programs, the Education Department has taken down online and paper applications for income-driven repayment plans. The removal of application materials also has caused confusion around the recertification process for borrowers already enrolled in repayment plans, experts say. Income-driven repayment plans take a borrower's finances and family size into account when calculating monthly payments, but borrowers must periodically demonstrate they still qualify.

WORDS: 969 - MOVED: 03/14/2025 12:01 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:9fb6287fe52ed0be73719b53dd5bf90d&mediaType=text

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