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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OIL PRICES
DESCRIPTION: The oil market remained calm after the weekend U.S. strike on Iran. Experts say Iran is unlikely to block the pivotal Strait of Hormuz because doing so would hurt its own shipments of oil to China. Still Iran can take measures that could push oil prices higher over the long-term.
UPCOMING: By 06/23/2025 3:00 p.m. EDT, Photo, Text.
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NEW AND DEVELOPING
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HOME SALES
May home sales barely move as high mortgage rates, prices, weigh on housing market
SUMMARY: Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase. Existing home sales rose 0.8% last month from April to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said Monday. Sales fell 0.7% compared with May last year. The latest home sales fell topped the 3.95 million pace economists were expecting, according to FactSet. The national median sales price rose 1.3% in May from a year earlier to $422,800, an all-time high for the month of May.
WORDS: 521 - MOVED: 06/23/2025 10:19 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2331cd0a212a1c1e8a9d8f0641696203&mediaType=text
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FINANCIAL MARKETS
US stocks rise and oil prices flip flop as Wall Street remains calm after US strikes on Iran
SUMMARY: Oil prices are flip-flopping, and the U.S. stock market is drifting higher following the United States' bunker-busting entry into Israel's war with Iran. Oil jumped as much as 4% shortly after trading began on Sunday night, but it quickly pared all of the gain by Monday morning. The S&P 500 rose 0.4%, the Dow Jones Industrial Average added 156 points and the Nasdaq composite rose 0.3%. Markets calmed amid hopes that Iran will not retaliate in a way that disrupts the global flow of crude, which would hurt economies worldwide but also its own. Treasury yields eased in the bond market.
WORDS: 913 - MOVED: 06/23/2025 10:17 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2d05b0a9e52320e822b649b8e29d28aa&mediaType=text
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US--COMPASS-ZILLOW
Compass files lawsuit against Zillow over private home listings policy
SUMMARY: Real estate brokerage company Compass has filed a lawsuit against Zillow over its policy to ban private home listings. Compass says that Zillow has implemented an exclusionary policy that says if a home seller and their real estate agent market their property off Zillow for more than one day, that Zillow and its allies, Redfin and eXp Realty, will ban that home from being listed on their search platforms. "The Zillow Ban seeks to ensure that all home listings in this country are steered on to its dominant search platform so Zillow can monetize each home listing and protect its monopoly," Compass said in the lawsuit.
WORDS: 445 - MOVED: 06/23/2025 9:54 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:703ed6fe67f1dca6f9dce01c2f279a2e&mediaType=text
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ML--OMAN-PERSONAL INCOME TAX
Oman plans to impose personal income tax, a first among Gulf states
WORDS: 307 - MOVED: 06/23/2025 9:25 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0dc7cf34a7079eb37796b97b99385584&mediaType=text
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HEALTH INSURERS-PRIOR AUTHORIZATION
Health insurers promise to improve coverage reviews that prompt delays and complaints
SUMMARY: The nation's major health insurers are promising to scale back and improve a widely despised practice that leads to care delays and complications. UnitedHealthcare, CVS Health's Aetna and dozens of other insurers say they plan to reduce the scope of health care claims subject to prior authorization, standardize the process and expand the number of real-time responses. Prior authorization means insurers require approval before they'll cover medical care, a prescription or a service. Insurers say it helps guard against care overuse and ensures patients get the right treatment. Doctors say the practice has grown in scope and complication.
WORDS: 596 - MOVED: 06/23/2025 8:26 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:e8814aa509028c45e34cf11aa9fe0809&mediaType=text
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US--PHILANTHROPY-PROSPEROUS FOOLS
A MacArthur 'genius' skewers philanthropy in a farcical play tackling oligarchy and arts funding
WORDS: 950 - MOVED: 06/23/2025 8:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bee0e5773eaf9c2ba160a6b74a42d0d4&mediaType=text
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US--AP POLL-CLIMATE
Support for solar energy and offshore wind falls among Democrats and independents, AP-NORC poll says
SUMMARY: A new poll shows Americans' support for green energy tax credits and renewable energies like wind and solar power has decreased in recent years, driven by a softening in support from Democrats and independents. The Associated Press-NORC Center for Public Affairs Research poll finds U.S. adults' support for tax credits for electric vehicles and solar panels has weakened, as well as their enthusiasm for offshore wind farm expansion. While Democrats remain the strongest supporters of these initiatives, the poll reveals signs of growing cynicism within their ranks. The poll results coincide with sweeping changes President Donald Trump's Republican administration is making to regulations related to energy and climate change.
WORDS: 1116 - MOVED: 06/23/2025 7:46 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:5303f07c30f2cdbc9cf129f9928c8a32&mediaType=text
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US--BE WELL-FINANCIAL WELLNESS-LAYOFFS
How to take care of yourself and your finances when you've experienced a layoff
SUMMARY: Mass layoffs are currently affecting thousands of Americans both in the private and public sectors. Losing your job is not an easy thing to process and you might feel the impact of this change in several aspects of your life. But, there are a few actions you can make to alleviate some of the stress and anxiety of a job loss.If you're currently experiencing a layoff, experts recommend that you first take a moment to process, approach your job search with a plan, stick through a routine and lean on community resources.
WORDS: 966 - MOVED: 06/23/2025 4:44 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:46cba2de95050ec5e9091ef96c960be0&mediaType=text
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US--THC-PRODUCT BAN-TEXAS
Texas governor vetoes bill that would ban all THC products
SUMMARY: Texas Gov. Greg Abbott has vetoed a bill to ban all THC products. The Republican waited until the final moment Sunday to veto the measure that would have hampered a booming industry flush with THC-infused gummies, vapes and other goods found at stores across the state. The bill would have made it a misdemeanor to own, sell or manufacture THC, or tetrahydrocannabinol. A 2018 federal law allowing states to regulate hemp led to the proliferation of THC goods, which can be synthetically processed from hemp. This has led residents in states where marijuana is strictly prohibited, like Texas, to access goods that give a similar high.
WORDS: 358 - MOVED: 06/23/2025 1:46 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9379bb3ab75b7278e9a3ec56fad791a9&mediaType=text
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US--FEMALE CRASH DUMMIES
Crash dummies used in car safety tests are still modeled after men despite higher risks for women
SUMMARY: Although women face the threat of more injury risks in vehicle crashes, the crash test dummies used in U.S. safety tests are designed almost entirely around the body of a man. Maria Weston Kuhn, a survivor of a near-fatal accident, created a nonprofit to help change that. Her organization is asking members of Congress to sign onto a bill that would mandate the National Highway Traffic Safety Administration to upgrade the standards and add a new female dummy. A Michigan-based company called Humanetics has designed one, but the standard tests still involve a dummy from the 1970s based on an average-sized male. Even the company's upgraded male model, adopted by numerous other countries, still hasn't won final U.S. approval.
WORDS: 1208 - MOVED: 06/23/2025 12:06 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ff29ea47e58f2325ddbe6c7930748d63&mediaType=text
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