Business News Digest

DAVID McHUGH

February 24, 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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MEDIA-TRUMP-AP

DESCRIPTION: Arguments in U.S. District Court on AP's suit against three White House officials for restricting the agency from presidential events. UPCOMING: 700 words and photos, video. By Matt Sedensky.

UPCOMING: By 02/24/2025 3:00 p.m. EST, Photo, Audio, Video, Text

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NEW AND DEVELOPING

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FINANCIAL MARKETS

Stock market today: Wall Street drifts following last week's tumble

SUMMARY: U.S. stock indexes are drifting following their sharp losses from last week. The S&P 500 slipped 0.4% Monday after losing an early gain. The Dow Jones Industrial Average dipped 30 points, and the Nasdaq composite dropped 1%. Berkshire Hathaway climbed after Warren Buffett's company reported a jumped in operating profits for the latest quarter, but it also indicated it's not seeing many stocks priced well enough to buy. This upcoming week will feature a profit report from Nvidia, one of Wall Street's most influential stocks, as well as updates on consumer confidence and inflation.

WORDS: 729 - MOVED: 02/24/2025 10:21 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:52a03f169e5264863783dff442c2acab&mediaType=text

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US--ROBINHOOD-SEC

Robinhood says SEC has closed its investigation into the company

SUMMARY: Lawsuits filed against cryptocurrency platforms during President Joe Biden's administration continue to fall away as the administration of President Donald Trump has projected a much more lenient stance on cryptocurrency markets. Robinhood is just the latest company in the mix, announcing on Monday that the Securities and Exchange Commission has closed its investigation into the company and will not pursue an enforcement action. The SEC declined to comment on the matter.

WORDS: 325 - MOVED: 02/24/2025 9:45 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:d16d788760c6d38e0e4dd3c9e6620a22&mediaType=text

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SOC--WOMEN'S EUROS-BRITISH PUBS

More wins, more drinks: Opening hours in pubs could extend in England and Wales during Women's Euros

SUMMARY: Soccer fans in England and Wales might be allowed to spend more time in pubs if their teams go far at the Women's European Championship being held in Switzerland in July. The British government is launching a four-week consultation to discuss whether pubs can extend their licensing hours from 11pm to 1am should England and/or Wales reach the semifinals or final of Euro 2025. The government says Britain's home secretary has the power to extend licensing hours for occasions of "exceptional international, national or local significance." England's women's team, whose players are nicknamed the Lionesses, will be defending the title won on home soil in 2022.

WORDS: 305 - MOVED: 02/24/2025 9:44 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:c7c0c3ef61e50d2446774a1df04cdf6c&mediaType=text

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GERMANY-ELECTION-BUSINESS-QUOTES

German business leaders say new government must act quickly to rescue stagnant economy

SUMMARY: Germany's businesses have been frustrated by government inaction on the stagnating economy. Sunday's national election raises hopes of a stable two-party coalition of conservatives and center-left Social Democrats, with center-right leader Friedrich Merz as likely chancellor. But will it take the swift action business leaders are calling for? Leading economists and business figures are offering their views on the way forward.

WORDS: 477 - MOVED: 02/24/2025 9:37 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:69c0773bceb01ddb9361adb84dce3dfa&mediaType=text

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US-MED--WEIGHT-LOSS DRUGS-COVERAGE

Patients struggle with lack of consistent coverage for popular weight-loss drugs

SUMMARY: Supplies of high-demand obesity treatments are improving, but that doesn't mean they're easier to get. Many employers and health insurers are scaling back coverage of Wegovy or Zepbound and a key government program, Medicare, doesn't cover the drugs for obesity. Clouding the picture even further, some big employers are adding coverage. But their commitment isn't guaranteed. Treatment prices that can top hundreds of dollars monthly even after discounts make it hard for many to afford these drugs on their own. That makes the life-changing weight-loss that patients seek largely dependent on the coverage they have and how long it lasts.

WORDS: 909 - MOVED: 02/24/2025 9:34 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:4d2be2052f1df71dbded96628028159b&mediaType=text

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STARBUCKS-LAYOFFS

Starbucks lays off 1,100 corporate employees as coffee chain streamlines

SUMMARY: Starbucks plans to lay off 1,100 corporate employees globally as new Chairman and CEO Brian Niccol streamlines operations. In a letter to employees released Monday, Niccol said the company will inform employees who are being laid off by mid-day Tuesday. Niccol said Starbucks is also eliminating several hundred open and unfilled positions. Niccol said the Seattle coffee giant needs to operate more efficiently and reduce complexity. Baristas in Starbucks' stores aren't impacted by the layoffs.

WORDS: 297 - MOVED: 02/24/2025 8:47 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:ac4110200335139836c6b370d864313c&mediaType=text

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US--TRUMP-DOGE-JOB SEARCH

Fired federal workers hunt for new jobs but struggle to replace their old ones

SUMMARY: Job searches can be tough for anyone, but some of the federal workers flooding the market after widespread layoffs are finding it particularly tough. Park ranger? Nuclear submarine engineer? Diplomat? Some jobs are almost exclusively the realm of government, making the search even harder. President Donald Trump and his cost-cutting czar, billionaire Elon Musk, have presided over thousands of federal job cuts touching nearly every part of the country. Those workers are now on the hunt for replacement work and are likely to be joined by others. The White House and its Musk-headed Department of Government Efficiency are telling agency leaders to plan for "large-scale reductions in force" and the freezing of trillions of dollars in federal grant funds.

WORDS: 1047 - MOVED: 02/24/2025 8:38 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:57671a76f22d5398a3c794e29e350082&mediaType=text

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US--INSIDER-Q&A-ALLEN INSTITUTE

AI nonprofit CEO says 'closed nature' of most artificial intelligence research hinders innovation.

WORDS: 553 - MOVED: 02/24/2025 6:00 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:b20122deab3924ac4a6cf82d97327fae&mediaType=text

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US--GREENPEACE LAWSUIT-NORTH DAKOTA

Greenpeace says a pipeline company's lawsuit threatens the organization's future

SUMMARY: A Texas pipeline company has sued Greenpeace accusing the organization of defamation, disruptions and attacks during protests against the Dakota Access Pipeline. The environmental advocacy group says the lawsuit, which goes to trial in North Dakota on Monday, threatens free speech rights and its very future. Dallas-based Energy Transfer filed the lawsuit in 2019 over the protests of the Dakota Access Pipeline in 2016 and 2017 near the Standing Rock Sioux Tribe's reservation in North Dakota. Energy Transfer alleges trespass, nuisance, defamation and other offenses by Netherlands-based Greenpeace International and the organization's U.S.-based entity, Greenpeace USA, as well as funding arm Greenpeace Fund Inc.

WORDS: 633 - MOVED: 02/24/2025 5:59 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:a449e34e61f7114e97b132fdd27815e8&mediaType=text

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ML--EMIRATES-EARNS-FLYDUBAI

Low-cost carrier FlyDubai sees record $611 million profit in 2024.

WORDS: 186 - MOVED: 02/24/2025 5:48 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:c5851618a4412c277fab929e105641eb&mediaType=text

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EU--EUROPE-SYRIA-SANCTIONS

EU begins easing Syria energy, transport and banking sanctions to help revive its economy.

WORDS: 352 - MOVED: 02/24/2025 5:42 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:7d8133be1a67ef06e91d4785c69e2306&mediaType=text

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US--FINANCIAL WELLNESS-ABLE ACCOUNTS

These little-known bank accounts allow Americans with disabilities to save and invest

SUMMARY: If you're an American with a disability who receives government assistance, you likely qualify for an ABLE account, or you may starting next year. These little-known accounts allow Americans with disabilities to save and invest money without the risk of losing benefits like Supplemental Security Income or Medicaid. Beginning in 2026, they'll become available to people diagnosed with a disability before the age of 46, up from the current threshold of 26, increasing access to the accounts by 6 million people. But state treasurers and experts say raising awareness of the accounts is a challenge.

WORDS: 1028 - MOVED: 02/24/2025 5:01 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:439fe21204ff443a1c0d907a112b99a0&mediaType=text

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US--HOSPITAL VIOLENCE

Pennsylvania hostage-taking and shootout highlight rising violence against US hospital workers

SUMMARY: Violence against healthcare workers is on the rise as seen by an attack at a Pennsylvania hospital. A gunman took hostages before exchanges of gunfire that killed a police officer and wounded five other people at a York County, Pennsylvania, intensive care unit on Saturday. The shooting killed the man, identified as 49-year-old Diogenes Archangel-Ortiz. His motives remain unclear but he had been in contact with the hospital about a medical issue involving someone else. Security consultant Dick Sem says hospital shooters tend not to kill at random but often are angry about something that has happened and target specific victims.

WORDS: 735 - MOVED: 02/24/2025 12:01 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:b8ef04b728c67aac36024ca22806a6ee&mediaType=text

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