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.
--------------------
UPCOMING
--------------------
TRUMP-TARIFFS
FORMATS: Audio, Text, Photo, Video
1. WITH: TRUMP-TARIFFS-WHAT'S AFFECTED
2. DESCRIPTION: The auto, energy and beverage industries are among the sectors of the U.S. economy that are likely to be affected by new taxes on steel and aluminum imports. But the wide-ranging tariffs also target sporting goods, cookware, household appliances, furniture and other consumer products.
3. UPCOMING: By 03/12/2025 11:00 a.m. EDT
___
EGG PRICES
DESCRIPTION: A dozen Grade A eggs cost an average of $5.90 in U.S. cities last month, according to the latest Consumer Price Index. That's just about double the price from a year earlier. The U.S. Department of Agriculture reported last week that egg shortages are easing and wholesale prices are dropping, which might provide relief on the retail side before this year's late Easter.
UPCOMING: By 03/12/2025 11:00 a.m. EDT, Text, Photo
___
--------------------
NEW AND DEVELOPING
--------------------
TRUMP TARIFFS-GLOBAL REACTION
EU retaliates against Trump's trade moves and hits beef, whiskey, motorcycles with targeted tariffs
SUMMARY: The European Union has announced retaliatory trade action with new duties on U.S. industrial and farm products. The bloc responded on Wednesday within hours to the Trump administration's increase in tariffs on all steel and aluminum imports to 25%. The world's biggest trading bloc was expecting the U.S. tariffs and prepared in advance. But the measures still place great strain on already tense trans-Atlantic relations. Washington warned Europe only last month that it would have to take care of its own security in the future. The EU measures will cover goods from the United States worth around 26 billion euros or $28 billion.
WORDS: 827 - MOVED: 03/12/2025 9:58 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:806a3b9bcc9cd4e45817e672d95f0070&mediaType=text
___
EU--FRANCE-META-AI LAWSUIT
French publishers and authors sue Meta over copyright works used in AI training
SUMMARY: French publishers and authors are taking Meta to court, accusing the social media company of using their works without permission to train its artificial intelligence model. Three trade groups said they were launching legal action against Meta in a Paris court over what they said was the company's "massive use of copyrighted works without authorization" to train its generative AI model. Meta didn't respond immediately to a request for comment. One groups representing book publishers accused Meta of "noncompliance with copyright and parasitism. Another group for writers and composers was worried about AI that "produces 'fake books' which compete with real books."
WORDS: 358 - MOVED: 03/12/2025 9:57 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:168b32059e70d0509b0a6ac407f37e8a&mediaType=text
___
US--CONSUMER PRICES
US inflation cooled last month, though trade war threatens to lift prices
SUMMARY: U.S. inflation slowed last month for the first time since September even as additional tariffs on steel and aluminum kicked in Wednesday that could send prices higher. The consumer price index increased 2.8% in February from a year ago, Wednesday's report from the Labor Department showed, down from 3% the previous month. Core prices, which exclude the volatile food and energy categories, rose 3.1% from a year earlier, down from 3.3% in January. The core figure is the lowest in nearly four years. The declines were larger than economists expected, according to a survey by data provider FactSet.
WORDS: 737 - MOVED: 03/12/2025 9:53 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:883afba8a7199b3a92a617b68ab1a6a6&mediaType=text
___
US--TRUMP-TARIFFS
Trump's 25% tariffs on all steel and aluminum imports go into effect
SUMMARY: President Donald Trump has increased tariffs on steel and aluminum imports to 25%, triggering a response from Canada. Trump has promised the taxes will help create U.S. factory jobs when his seesawing tariff threats are jolting the stock market and raising fears of an economic slowdown. Wednesday's move eliminates exemptions from his 2018 tariffs on the metals and increases the tariffs on aluminum from 10%. The Republican president has separate tariffs on Canada, Mexico and China, with plans to tax imports from the European Union, Brazil and South Korea by charging "reciprocal" rates starting April 2. Canada is the largest foreign supplier of steel and aluminum to the U.S. and responded with its own countermeasures.
WORDS: 790 - MOVED: 03/12/2025 9:52 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e5a6295577275045db3484b71c979bfb&mediaType=text
___
EU--RUSSIA-UKRAINE-WAR
US arms flow to Ukraine again as the Kremlin mulls a ceasefire proposal
SUMMARY: Ukrainian and Polish officials say U.S. arms deliveries to Ukraine have resumed. That comes a day after the Trump administration lifted its suspension of military aid for Kyiv in its war against Russia and Ukrainian officials signaled they were open to a 30-day ceasefire backed by Washington. Kremlin spokesperson Dmitry Peskov said Wednesday that it's important not to "get ahead" of the question of responding to the ceasefire proposal. He told reporters that Moscow is awaiting "detailed information" about it from the U.S.. The American military help is vital for Ukraine's shorthanded and weary army, which is having a tough time keeping Russia's bigger military force at bay.
WORDS: 1067 - MOVED: 03/12/2025 9:39 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:349e58cfe22eb3e77e75c15989cbc110&mediaType=text
___
EU--BRITAIN-TRUMP-TARIFFS
Britain says retaliation is possible over new U.S. tariffs on steel and aluminum imports
WORDS: 393 - MOVED: 03/12/2025 9:26 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:25d55a8d4dfb4ad39982fd1999be2dac&mediaType=text
___
CN--CANADA-US-TRUMP TARIFFS
Canada will announce more than $20 billion in tariffs in response to Trump's metal tariffs
SUMMARY: Canada will announce Canadian $29.8 billion or $20.7 billion in retaliatory tariffs in response to the 25% steel and aluminum tariffs that U.S. President Donald Trump has leveled. A senior Canadian government official confirmed the amount. The official spoke on condition of anonymity because they weren't authorized to speak before the announcement. The European Union on Wednesday also announced retaliatory trade action with new duties on U.S. industrial and farm products. The EU responded within hours to the Trump administration's increase in tariffs on all steel and aluminum imports to 25%.
WORDS: 109 - MOVED: 03/12/2025 9:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2517a6a2baf0596cb1a43d3a7d1e7939&mediaType=text
___
ENT--PRO ATHLETES-FILMMAKING
NFL players score a shot at Hollywood through hands-on training sessions with filmmaker Deon Taylor
SUMMARY: Filmmaker Deon Taylor has built a pipeline for pro athletes to transition into a filmmaking post career with the Hidden Empire Sports Collective. He recently launched the entertainment division focused on elevating athletes' voices through content creation and intellectual property development with training sessions with more than 20 former and active NFL players at his studio office in Santa Monica, California. It's the third year of program -- which has featured panelists including entertainers Tyrese Gibson and Master P along with NFL player Vernon Davis. This year, athletes eager to break into film had the opportunity to learn from Taylor and Ephraim Salaam, who successfully transitioned from the NFL to Hollywood.
WORDS: 1189 - MOVED: 03/12/2025 9:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:c07a0f780d8a0441e09783aeece8e7b9&mediaType=text
___
EU--PARIS FASHION WEEK-TRENDS
Fashion trends for fall: Big shoulders, even bigger coats and a color story to dye for
SUMMARY: Paris has spoken and fashion's final authority has laid down the law: This fall it's all about power shoulders, enveloping outerwear and a color palette that runs the gamut from somber to surreal. The Milanese softened up with romance and New York went hard on Y2K grunge. But Paris countered with a sense of sartorial surety in a wardrobe built for the sharp the serious, and the spectacular. Coats are enormous, tailoring is back in play and the drama is dialed up on every front.
WORDS: 830 - MOVED: 03/12/2025 9:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:31670352e5462f764a3ecbc3780dcaea&mediaType=text
___
EU--BRITAIN-SHIPS COLLIDE
Ship owner says arrested captain of cargo vessel involved in North Sea collision is Russian
SUMMARY: The captain of a cargo ship that collided with a U.S. tanker is a Russian national who remains in U.K. police custody. The vessel's owner confirmed Wednesday that the 59-year-old man is a Russian who led a mixed crew of Russians and Filipinos. He was arrested on Tuesday on suspicion of manslaughter by gross negligence. He hasn't been charged. The cargo ship Solong collided Monday with a tanker transporting jet fuel for the U.S. military in the North Sea off eastern England on Monday. It set both vessels ablaze. One sailor from the Solong was presumed dead in the collision. U.K. authorities say they haven't found evidence of foul play.
WORDS: 510 - MOVED: 03/12/2025 8:21 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:d4a984f46fc00d0e7b96ec0820a9b836&mediaType=text
___
US--TRUMP-TARIFFS TIMELINE
Trump has begun another trade war. Here's a timeline of how we got here
SUMMARY: Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a trade war abroad -- all while on-again, off-again new levies continue to escalate uncertainty. Since taking office less than two months ago, Trump has rolled out hefty import taxes on goods coming from America's three biggest trading partners -- Mexico, Canada and China -- and promises that more targets are on the horizon. Trump is no stranger to tariffs. He also launched a trade war during his first term in office, but has more sweeping plans now. Economists stress there could greater consequences on businesses and economies worldwide this time -- and that higher prices will likely lead consumers to foot the bill.
WORDS: 1781 - MOVED: 03/12/2025 7:52 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:cfe1fa82a47f1bca21a82f4b504486c8&mediaType=text
___
US--TRUMP-AFFORDABLE HOUSING PRESERVATION
Trump administration halts $1 billion program that keeps aging affordable housing livable
SUMMARY: The Associated Press has obtained a document showing that the Trump administration is halting a $1 billion program that helps preserve affordable housing. The cuts could jeopardize projects across the country intended to keep 25,000 units energy efficient, livable and affordable for low-income Americans. The details of how the program will be wound down remain unclear. The lack of communication from HUD about the program's future has sent organizations in search of contingency plans. A spokesperson for the U.S. Department of Housing and Urban development declined repeated requests for comment.
WORDS: 922 - MOVED: 03/12/2025 7:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:de27d7846271779157550fcec0a78ea6&mediaType=text
___
BEHIND THE WHEEL-CR-V VS FORESTER
Edmunds: 2025 Honda CR-V vs. 2025 Subaru Forester
SUMMARY: Edmunds editors compare the redesigned 2025 Subaru Forester to the popular and class-leading 2025 Honda CR-V. How do these two established SUVs stack up against each other in technology, interior space and visibility, fuel economy and the all-important drivability? For better or worse, the 2025 Forester doesn't change that much from its predecessor. As a result, the Forester remains a perfect choice for some, but the well-rounded 2025 Honda CR-V remains the better choice for more buyers.
WORDS: 800 - MOVED: 03/12/2025 6:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6d23285487b5a0f76845b8be5ea8406c&mediaType=text
___
AS--JAPAN-FUKUSHIMA
'Nervous and rushed': Massive Fukushima plant cleanup work involves high radiation and stress
SUMMARY: The Fukushima Daiichi nuclear power plant's radiation levels have significantly dropped since the cataclysmic meltdown 14 years ago. Workers walk around in many areas wearing only surgical masks and regular clothes. It's a different story for those who enter the reactor buildings, including the three damaged in the 2011 earthquake and tsunami. They must use maximum protection -- full face masks with filters, multilayered gloves and socks, shoe covers, hooded hazmat coveralls and a waterproof jacket, and a helmet. As workers remove melted fuel debris from the reactors in a monumental nuclear cleanup effort that could take more than a century, they are facing both huge amounts of psychological stress and dangerous levels of radiation.
WORDS: 997 - MOVED: 03/12/2025 6:16 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:4efe204a48f952137cac5a44b41f93ae&mediaType=text
___
AS--INDIA-STARLINK
Musk's Starlink could help remote parts of India get online under deals with telecoms players
SUMMARY: Elon Musk's Starlink has signed an agreement with India's top telecom operator on Wednesday to bring the U.S. satellite internet giant's services to the world's most populous country, a day after announcing a similar agreement with the country's second-largest provider. The deals with Reliance Jio and Bharti Airtel, which together control more than 70% of India's telecom market, could help bring internet connections to millions of people who live in remote areas. But they depend on Starlink obtaining government approval to enter India. The partnership announcements come weeks after Indian Prime Minister Narendra Modi met with Musk in Washington.
WORDS: 501 - MOVED: 03/12/2025 4:40 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ab8eb4c9b8e629763f411520e46b8dca&mediaType=text
___
AS--AUSTRALIA-US-TRUMP-TARIFFS
Australia won't retaliate against 'unjustified' US tariffs on steel and aluminum
SUMMARY: Australian Prime Minister Anthony Albanese says U.S. tariffs on Australian steel and aluminum are unjustified, but his government will not retaliate with its own tariffs. U.S. President Donald Trump said last month he was considering a tariff exemption for Australia, a free trade treaty partner that has traded with the United States at a deficit for decades. A former Australian government secured an exemption with the previous Trump administration in 2018 based on arguments including that Australian steelmaker BlueScope employers thousands of workers in the U.S. Albanese said he would continue to pursue an Australian exemption. The 2018 exemption took several months to secure.
WORDS: 456 - MOVED: 03/12/2025 1:18 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:fe8ad2239a20c65d42c9249c05ae9303&mediaType=text
___
ML--MIDEAST-WARS-YEMEN
Yemen's Houthi rebels say 'any Israeli vessel' in nearby Mideast waterways again a target
SUMMARY: Yemen's Houthi rebels have warned shippers that "any Israeli vessel" traveling through nearby Mideast waters is now a target as Israel continues to block aid to the Gaza Strip. The statement early Wednesday from the Houthis' Humanitarian Operations Coordination Center follows a four-day deadline set by the rebels for Israel to resume aid shipments. It described the warning as taking hold in the Red Sea, the Gulf of Aden, the Bab el-Mandeb Strait and the Arabian Sea. There was no immediate sign of an attack on ships.
WORDS: 603 - MOVED: 03/12/2025 12:48 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0da6c2453fe2c4e5f81923c84c7d3f3a&mediaType=text
___
US--TRUMP-STOCK MARKET
In his own words: Trump takes credit for stock market rises but casts aside blame for sell-off
SUMMARY: President Donald Trump in recent days has dismissed fears of a recession and brushed aside the stock market sell-off, going so far as to say, "You can't really watch the stock market." That's a new message from a president who has frequently pointed to the market's ups and downs as a reflection of himself and his activities, even when he was not in power. Over the last year, while President Joe Biden was in office, Trump took credit for stock market rallies as a vote of confidence in his electoral prospects. When it dipped, he blamed Biden and Vice President Kamala Harris.
WORDS: 1509 - MOVED: 03/12/2025 12:09 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:dba336a82ffaf000b80e7218d749995a&mediaType=text
___
US--TEXAS-CONVEYOR BELT
This 'Dune' isn't fiction. It's the longest conveyer belt in the US and moving sand in Texas
SUMMARY: A more than 40-mile long conveyor belt filled with sand stretches from the oil fields of West Texas to New Mexico, all for the purpose of one mission: oil production. Atlas Energy Solutions claims their conveyor belt is the second-largest in the world and that they've engineered the unique contraption as a solution to moving the millions of tons of sand needed for hydraulic fracturing. CEO John Turner says the $400 million project is supposed to deliver the millions of tons of sand more cheaply and safely than trucks
WORDS: 700 - MOVED: 03/12/2025 12:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1e98b8438de8dfa687118599ec2ff7f4&mediaType=text
___
