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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TRUMP-MASS-FIRINGS
DESCRIPTION: San Francisco-- US Judge William Alsup hears arguments on motions for summary judgment in challenge to mass firing of federal probationary workers. 9th circuit court last week heard arguments on appeal of Alsup's ruling that firings were likely unlawful. Daily on merits.
ON MERITS: By 08/28/2025 3:00 p.m. EDT, Photo, Text
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NEW AND DEVELOPING
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IRAN-NUCLEAR
European nations start process to impose a 'snapback' of Iran nuclear sanctions at UN
SUMMARY: France, Germany and the United Kingdom have started a process to reimpose U.N. sanctions on Iran over its nuclear program. The mechanism, known as "snapback," could freeze Iranian assets abroad, halt arms deals, and put renewed sanctions on its ballistic missile program. It is designed to be veto-proof at the U.N. and is likely to go into effect. European nations warned Iran on August 8 that it could trigger "snapback" after Tehran halted inspections by the International Atomic Energy Agency. Iran initially downplayed the threat but later engaged in brief diplomacy.
WORDS: 1103 - MOVED: 08/28/2025 10:28 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cadaa70e892e9836a76e92b64cf60201&mediaType=text
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WALGREENS-GOING PRIVATE
Sycamore Partners finishes deal to take drugstore chain Walgreens private
SUMMARY: The private equity firm Sycamore Partners has completed its acquisition of Walgreens, ending the drugstore chain's run as a publicly traded company. Walgreens said Thursday that former Staples leader Mike Motz will become its new chief executive officer, replacing Tim Wentworth. Walgreens had announced in March that it agreed to be acquired by Sycamore in a deal valued at around $10 billion. Its shareholders approved that deal last month. Walgreens, like its rivals, faced several business challenges. Going private gives the company more flexibility to make changes to improve its business without worrying about Wall Street's reaction.
WORDS: 204 - MOVED: 08/28/2025 10:26 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a620a4392369bea0a01017136b939ba9&mediaType=text
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FINANCIAL MARKETS
Stocks hold steady on Wall Street as earnings roll in
SUMMARY: Stocks held relatively steady near their record highs as investors pored over a mixed batch of earnings reports from big U.S. companies. The S&P 500 was down 0.1% in early trading Thursday, edging below the all-time high it set a day earlier. The Dow Jones Industrial Average was down 52 points, or 0.1%, and the Nasdaq composite was down less than 0.1%. Spam maker Hormel fell sharply after reporting earnings that fell short of Wall Street's forecasts and cutting its outlook for the year. Treasury yields were mixed in the bond market following some mixed reports on the economy.
WORDS: 492 - MOVED: 08/28/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:43ab1eb16a201e9a923a9c73bd57d7c4&mediaType=text
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US--TRUMP-IMMIGRATION-FORT BLISS
Mystery surrounds $1.2 billion Army contract to build huge detention tent camp in Texas desert
SUMMARY: President Donald Trump's administration has awarded a $1.2 billion contract to a tiny Virginia company to build and operate what's expected to become the nation's largest immigration detention complex. Acquisition Logistics LLC has no experience running correction facilities and had never won a federal contract for more than $16 million. It also lacks a functioning website and lists as its address a modest home in suburban Virginia owned by a retired Navy flight officer. The Pentagon refuses to disclose the Army's contract with Acquisition Logistics or explain why it selected the company to build the massive tent camp in Texas. The CEO of Acquisition Logistics hasn't responded to messages seeking comment.
WORDS: 1281 - MOVED: 08/28/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3595746cd420c6f83c4ffd0b331ae056&mediaType=text
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US-EV BATTERIES-UNION VOTE
Disputed ballots could swing outcome of union election at EV battery complex in Kentucky
SUMMARY: An election to determine whether workers unionize an electric vehicle battery manufacturing complex in Kentucky is in limbo. The union and the company focused on a few dozen disputed ballots that could swing the outcome. The United Auto Workers has claimed a narrow victory at the BlueOval SK battery park after the two-day vote that ended Wednesday. The outcome could depend on 41 challenged ballots. The UAW says those ballots were "illegitimate" and should not be counted. The company is urging the National Labor Relations Board to count each eligible vote. The company says "every voice matters."
WORDS: 342 - MOVED: 08/28/2025 10:07 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:50da029c83fd95eda39151cfc52a32d3&mediaType=text
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US--FEDERAL RESERVE-COOK LAWSUIT
Fed Gov. Lisa Cook sues Trump administration to block her attempted firing
SUMMARY: Federal Reserve Governor Lisa Cook is suing the Trump administration in an effort to overturn the president's attempt to fire her, launching an unprecedented legal battle that could significantly reshape the Fed's longstanding political independence. No president has sought to fire a Fed governor in the institution's 112-year history until Trump posted a letter on his Truth Social media platform late Monday saying that Cook was fired. Trump said the reason for her removal were allegations that she committed mortgage fraud in 2021, before she was appointed to the board.
WORDS: 444 - MOVED: 08/28/2025 9:55 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:308f2e6ac04f62643d96b8347d5b2417&mediaType=text
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ECONOMY-GDP
US economy grows 3.3% in second quarter, government says, in second estimate of April-June growth
SUMMARY: The U.S. economy rebounded this spring from a first-quarter downturn caused by fallout from President Donald Trump's trade wars. In an upgrade from its first estimate, the Commerce Department said Thursday that U.S. gross domestic product -- the nation's output of goods and services -- expanded at a 3.3% annual pace from April through June after shrinking 0.5% in the first three months of 2025. The department had initially estimated second-quarter growth at 3%.
WORDS: 583 - MOVED: 08/28/2025 9:31 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:f2f3c1a5401124fdee31ca02a1daa4b6&mediaType=text
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US-CHINA MONEY LAUNDERING
The Treasury Department wants US banks to monitor for suspected Chinese money laundering networks
SUMMARY: The Treasury Department wants U.S. financial institutions to monitor for suspected Chinese money laundering networks handling funds that are used to fuel the flood of fentanyl across American communities. An advisory Thursday to banks, brokers and others highlights how such operations are working with Mexican drug cartels. The Trump administration is calling on banks to flag certain customers who may fit a profile of people who could launder money for cartels. That could include Chinese nationals such as students, retirees and housewives with unexplained wealth, and those who refuse to provide information about the source of their money. The Chinese Embassy in Washington had no immediate comment.
WORDS: 404 - MOVED: 08/28/2025 9:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0be1e832a9f09e1316dfaa0aa5ea8517&mediaType=text
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CLIMATE-HEAT-WEDDINGS
Melting makeup, sweaty tuxes and overheating guests are shifting summer weddings
SUMMARY: Some people spend their entire lives dreaming of that one special day where they walk down the aisle to be married. As heat waves become more common, those special days are sometimes being forced indoors. At a desert-themed venue outside Cincinnati, co-owner Christina Elsass has both an outdoor space and an indoor space that can readily be used if temperatures become dangerous. She says she has noticed a shift from summer weddings toward October, when the weather is cooler.
WORDS: 1000 - MOVED: 08/28/2025 9:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:08e8cb36f67b5a88b7b9f8c063e17cf5&mediaType=text
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US--UNEMPLOYMENT BENEFITS
US applications for jobless benefits fell last week as layoffs remain low
SUMMARY: Fewer Americans sought unemployment benefits last week as employers appear to be holding onto their workers even as the economy has slowed. Applications for unemployment benefits for the week ending Aug. 23 dropped 5,000 to 229,000, the Labor Department reported Thursday. Measures of the job market are being closely watched on Wall Street and in Washington as the most recent government data suggests hiring has slowed sharply since this spring. Job gains have averaged just 35,000 a month in the three months ending in July, barely one-quarter what they were a year ago.
WORDS: 367 - MOVED: 08/28/2025 8:57 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bd496163bf386a3fabaaa6d1b6db06ff&mediaType=text
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OCEAN-FISHERIES-THE FISHING WAR-TAKEAWAYS
Takeaways: Gambia's fishermen are caught in a 'sea war' with foreign vessels
SUMMARY: A "sea war" is brewing off the West African nation of Gambia as desperate local fishermen attack foreign commercial fishing vessels, and each other. The fight is driven by market forces and foreign seafood appetites that are far beyond their control. The Associated Press exclusively obtained video of one attack that documents the emerging problem in the fight for dominance. The fighting threatens to tear fishing communities apart, while overfishing undermines livelihoods for everyone. There are concerns that the fish population off Gambia could collapse in the coming years. That would be a business and environmental disaster in the small nation.
WORDS: 1071 - MOVED: 08/28/2025 8:41 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3653dd97ead458bc40b0d907dd58640a&mediaType=text
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OCEAN-FISHERIES-THE FISHING WAR
A 'sea war' brews off Gambia as desperate local fishermen attack foreign vessels, and each other
SUMMARY: A "sea war" is brewing off the West African nation of Gambia as desperate local fishermen attack foreign commercial fishing vessels, and each other. The fight is driven by market forces and foreign seafood appetites that are far beyond their control. The Associated Press exclusively obtained video of one attack that documents the emerging problem in the fight for dominance. The fighting threatens to tear fishing communities apart, while overfishing undermines livelihoods for everyone. There are concerns that the fish population off Gambia could collapse in the coming years. That would be a business and environmental disaster in the small nation.
WORDS: 1915 - MOVED: 08/28/2025 8:38 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ccc244072c92291bbd1f54ab0bec7182&mediaType=text
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FBC--DEION AND SABAN
Deion Sanders calls for paying players who reach the playoff and Saban supports the proposal
SUMMARY: Leave it to Deion Sanders to come up with an idea for the College Football Playoff that nobody has really mentioned yet: Pay the players for making the tournament, and pay them more when their teams win. If they do that, the Colorado coach said, then every player on a successful team would be making the same amount of money for the wins. Sanders and former Alabama coach Nick Saban talked to The Associated Press as part of their unveiling of a new Aflac commercial that rolls out this week.
WORDS: 658 - MOVED: 08/28/2025 8:30 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:47d1cd221c64e6c23c21c253179dd44c&mediaType=text
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US-BEST BUY-RESULTS
A solid quarter at Best Buy overshadowed by outlook grown cloudy with tariffs
SUMMARY: Best Buy posted a solid second quarter that exceeded Wall Street expectations, but the performances was overshadowed by an outlook that has grown cloudy due to tariffs the U.S. is imposing on trading partners. Despite easily beating expectations, shares slid 4% before the opening bell Thursday after the company stuck to earlier guidance for 2025. The company cited the potential impact of tariffs. Comparable sales, a good barometer of a retailer's health, increased 1.6%, which was in line with expectations. Yet the company had been battered by online competition. CEO Corie Barry pointed out that it was the highest growth for same-store sales, which include online sales, in three years.
WORDS: 387 - MOVED: 08/28/2025 8:29 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d4b420fe59c38fe3f7cbda56fabc8887&mediaType=text
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AF--NIGERIA-SHEA NUTS BAN
Nigeria bans exports of raw shea nuts used for cosmetic products to help grow local economy
SUMMARY: The Nigerian government has announced a six-month ban on the export of raw shea nuts, an essential raw material for making cosmetic products. Authorities said the ban will boost local industries and help grow the country into a global supplier of refined shea butter and other skincare ingredients. It is meant to be reviewed after the six months. Nigeria's vice president said the country currently contributes to just 1% of the $6.5-billion global market in shea products despite producing 40% of the world's supply of the crop.
WORDS: 419 - MOVED: 08/28/2025 7:40 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7efb544eb2f7c4994cc3627cf07abc4c&mediaType=text
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US--CRANBERRY BOGS-BACK TO NATURE
Massachusetts cranberry bogs are being given a second life as vibrant wetlands
SUMMARY: A growing number of cranberry bogs in Massachusetts are being converted back to nature as farmers get out of the business. The shift comes as the industry is being hit by lower prices for the pinkish crimson berries used in sauce and juice along with rising costs of producing the larger, hybrid varieties are popular. Farmers also are seeing the effects of climate change which is bringing unpredictable weather like droughts and warmer fall conditions that can influence the color of berries. Farmers have in the past considered options like selling the land for development or solar farms are now getting paid through state and federal funds to conserve the land.
WORDS: 1136 - MOVED: 08/28/2025 7:24 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ab04dcaaa44384ef35a7bff87eee10a4&mediaType=text
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US--AGE VERIFICATION-CHALLENGES
Online age checks are proliferating, but so are concerns they curtail internet freedom
SUMMARY: Online age checks are on the rise in the U.S. and elsewhere, asking people for IDs or face scans to prove they are over 18 or 21 or even 13. To proponents, they're a tool to keep children away from adult websites and other material that might be harmful to them. But opponents see a worrisome trend toward a less secure, less private and less free internet, where people can be denied access not just to pornography but news, health information and the ability to speak openly and anonymously.
WORDS: 1160 - MOVED: 08/28/2025 6:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1cf99c96ab6b461cf7612d312e111e79&mediaType=text
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AS--JAPAN-US-TRADE
Japan's chief trade envoy postpones US trip as Tokyo calls for faster action on its tariffs deal
SUMMARY: Japan's top trade negotiator has abruptly canceled a trip to Washington aimed at issuing a joint statement on a tariffs deal with the Trump administration. A top government spokesman said trade envoy Ryosei Akazawa cancelled the trip to Washington because some details required further discussions. He urged the U.S. side to speed up implementation of the agreement. In July, Japan and the U.S. said they had agreed that most Japanese exports including autos would face a 15% U.S. tariff. That was lower than the 25% tariff originally ordered by President Donald Trump. U.S. Commerce Secretary Howard Lutnick said earlier this week that Washington was ready to finalize the deal.
WORDS: 315 - MOVED: 08/28/2025 4:15 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d6fd859e1343663d0a734eb89ee5ac2a&mediaType=text
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