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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US--TRUMP TARIFF TARGETS

DESCRIPTION: A look at products in the crosshairs, including avocados and autos, as 25% tariffs on goods imported from Mexico and Canada are set to go into effect Tuesday.

UPCOMING: By 03/03/2025 12:00 p.m. EST, Photo, Text

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NEW AND DEVELOPING

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US--AIRPORT-POWER-OUTAGE

Power outage at BWI Airport interrupts air travel

SUMMARY: A power outage at Baltimore-Washington International Airport is causing significant flight delays and other interruptions to air travel. More than 100 flights have been delayed and a handful have been canceled as of mid-morning Monday. A spokesperson for Baltimore Gas and Electric Company says the outage was reported around 7:40 a.m. and caused by a downed power line near the airport. Airport officials are advising passengers to check with their airlines about flight status.

WORDS: 155 - MOVED: 03/03/2025 10:28 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:88c3c2a4538e5c7a1a20fdab2097f1d9&mediaType=text

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BBO--ORIOLES-NATIONALS-TV-DISPUTE

Nationals free to negotiate TV deal starting in 2026, settle lengthy MASN dispute with Orioles

SUMMARY: The Nationals and Baltimore Orioles ended a legal fight over television rights dating to 2012 when Major League Baseball announced Washington will be freed from its deal with the Mid-Atlantic Sports Network after the upcoming season. MLB said Nationals' games will be broadcast by MASN in 2025 under a new, one-year contract. As part of the settlement, MLB said all disputes had been resolved and lawsuits will be dismissed. MASN was established in March 2005 after the Montreal Expos relocated to Washington and became the Nationals, moving into what had been Baltimore's exclusive broadcast territory since 1972.

WORDS: 426 - MOVED: 03/03/2025 10:24 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:ef656b3ce9e096c8c3ea7eec260cb863&mediaType=text

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FINANCIAL MARKETS

Stock market today: Wall Street rises ahead of the latest deadline on tariffs

SUMMARY: U.S. stocks are remaining relatively calm ahead of President Donald Trump's latest tariff deadline. The S&P 500 rose 0.4% Monday. The Dow Jones Industrial Average added 138 points, and the Nasdaq composite rose 0.6%. Wall Street is coming off a rocky few weeks, where it set a record and then dove amid worries about tariffs. On Tuesday, Trump's tariffs on Canada and Mexico are scheduled to start after being delayed a month. Wall Street's hope is he'll go with policies that would ultimately mean less damage for the global economy. European indexes leaped, as stocks outside the United States continue to be the year's best.

WORDS: 651 - MOVED: 03/03/2025 9:45 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:72339ddf1ecb65d7815f4bb5272197d7&mediaType=text

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LT--MEXICO-US-TARIFFS

Mexico makes case to avoid US tariffs as it awaits Trump's decision

SUMMARY: Mexico President Claudia Sheinbaum has said that her administration is waiting to see if U.S. President Donald Trump makes good on his threat to impose 25% tariffs on Mexican imports. Her Cabinet secretaries for security and trade among others have been in constant communication with their U.S. counterparts and she said Monday there was still the possibility she and Trump would speak. Trump had threatened to impose tariffs in February before suspending them at the last minute when Mexico sent 10,000 National Guard troops to their shared border to crack down on drug trafficking and illegal immigration.

WORDS: 278 - MOVED: 03/03/2025 9:42 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:301bb669362a148f356923ef5e058dce&mediaType=text

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US--KROGER-CEO

Kroger Chairman and CEO resigns following investigation into personal conduct

SUMMARY: Kroger Chairman and CEO Rodney McMullen is stepping down after an internal investigation into his personal conduct. The company said Monday that the investigation into McMullen's personal conduct was unrelated to the business, but was found to be inconsistent with Kroger's business ethics policy. Board member Ronald Sargent will serve as chairman and interim CEO, effective immediately. McMullen, 64, began his career with Kroger in 1978 as a part-time bagger and stock clerk. He has served as Kroger's CEO since 2014.

WORDS: 353 - MOVED: 03/03/2025 9:19 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:da4088a0b626d56b55e2fe75f4520476&mediaType=text

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EU--RUSSIA-UKRAINE-WAR

Ukraine's Zelenskyy says end of war with Russia is 'very, very far away'

SUMMARY: Ukrainian President Volodymyr Zelenskyy says a deal to end the war between Ukraine and Russia "is still very, very far away." He added that he expects to keep receiving U.S. support despite his recent fraught relations with U.S. President Donald Trump. Zelenskyy said late Sunday that "I think our relationship (with the U.S.) will continue because it's more than an occasional relationship." He was referring to Washington's support for the past three years of war. Zelenskyy publicly was upbeat despite recent diplomatic upheaval between Western countries that have been helping Ukraine with military hardware and financial aid. The turn of events is unwelcome for Ukraine whose understrength army is having a hard time keep bigger Russian forces at bay.

WORDS: 385 - MOVED: 03/03/2025 8:54 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:b025877c40ffe0ddf2a92adad1715231&mediaType=text

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US--TREASURY-BUSINESS DATABASE

Treasury ends enforcement of business ownership database meant to stop shell company formation

SUMMARY: The U.S. Treasury Department says it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation. In a Sunday evening announcement, Treasury said in a news release it will not impose penalties now or in the future if companies fail to register for the agency's beneficial ownership information database that was created during the Biden administration. Despite efforts by small businesses to undue the rule in the courts, the rule remains in effect. On Sunday, President Donald Trump on his Truth Social media site praised the suspension of enforcement of the rule and said the database is "outrageous and invasive."

WORDS: 428 - MOVED: 03/03/2025 8:52 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:a903100907851cca1930511f96e9686d&mediaType=text

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AS--PAKISTAN-AFGHANISTAN

Afghan and Pakistani forces trade fire at the border as a key crossing remains closed

WORDS: 315 - MOVED: 03/03/2025 8:15 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:e7c82ce8d168d44c536a3166b52b9a10&mediaType=text

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AF--CLIMATE-SOUTH SUDAN-COFFEE

As warming climate hammers coffee crops, this rare bean may someday be your brew

SUMMARY: Earth's warming climate is causing problems for big coffee producers everywhere and some are looking to a rarely cultivated species that may stand up better to drought and heat. It's excelsa, which is native to South Sudan and a handful of other African countries. The tree's deep roots, thick leaves and big trunk help it thrive in extreme conditions where other coffees cannot. It's also resistant to many common coffee pests and diseases. Excelsa currently has less than 1% of a market dominated by arabica and robusta. In South Sudan, some farmers testing the excelsa trees hope it will help lift them out of poverty.

WORDS: 1380 - MOVED: 03/03/2025 8:10 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:b6efff83f2ff89ccc63033dcec071783&mediaType=text

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US-TESLA-BACKLASH

Musk's embrace of right-wing politics risks turning off car buyers and sinking Tesla's stock

SUMMARY: Elon Musk appears be to turning off potential Tesla buyers with his embrace of far-right politicians around the world, analysts say, and the hit couldn't come at a worse time. The company was already losing market share to European and Chinese automakers as they catch up in quality to Tesla's electric vehicles. Now Musk has to contend with a fierce political backlash, too. He has been hung in effigy in Italy, mocked in Britain for selling "swasticars" and faced calls for a boycott in Poland. Tesla sales plunged 45% in Europe in January, after a drop in California. Its stock is falling, too. Since Inauguration Day, Tesla investors have lost $550 billion.

WORDS: 959 - MOVED: 03/03/2025 7:54 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:e6459a0207f1318a1110e3d15e89956c&mediaType=text

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EU--BRITAIN-TIKTOK

UK data protection watchdog investigating how TikTok uses children's personal data

SUMMARY: The U.K.'s data protection watchdog says that it's investigating how TikTok uses the personal information of teenagers to deliver content recommendations to them when they use the social media platform. The Information Commissioner's Office said Monday that there are growing concerns around how social media platforms are using data generated by children's online activity to power their recommendation algorithms. There are also concerns about the potential for young people to see inappropriate or harmful content as a result. The regulator said it wanted to ensure the robustness of TikTok's safety procedures when it comes to using the personal information of 13 to 17 year olds. The regulator will also look into how Reddit and Imgur use children's personal data.

WORDS: 384 - MOVED: 03/03/2025 7:49 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:cbb967830539d83b8bb60772a4c2ccb5&mediaType=text

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LT--BRAZIL-CARNIVAL-STREET-VENDORS

Street vendors dispense the party fuel for Rio's Carnival, but face pushback as their numbers grow

SUMMARY: Vendors are a fixture at Rio's Carnival street parties. They scour Instagram pages for times and locations, coordinate on WhatsApp groups, then race across parks and up hills, from Rio's downtown to Copacabana beach, all to place themselves and their carts in the thronging crush of thousands -- or hundreds of thousands -- of thirsty revelers. Peddlers provide much-needed party fuel and hydration, and can themselves partake in the joyous atmosphere. More than that, though, it's an economic lifeline that can set them up for the rest of the year. But as opportunity to cash in has grown, more and more vendors have joined the rush -- and drawn pushback.

WORDS: 1013 - MOVED: 03/03/2025 6:44 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:c90c3974ddcad8a21e22112f865d69fa&mediaType=text

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EU--EUROPE-ECONOMY

Inflation eases to 2.4% in Europe, supporting likely central bank rate cut

SUMMARY: Inflation in Europe eased to 2.4% in February, supporting the case for another interest rate cut from the European Central Bank but leaving open how far the central bank will go in lowering borrowing costs. The February figure for the 20 countries that use the euro currency was down from 2.5% in January, as energy inflation dwindled and major economy France saw a rate of only 0.9%.

WORDS: 509 - MOVED: 03/03/2025 6:32 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:cb555f0a040aed0c505d957769d96e9a&mediaType=text

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AS--CHINA-CONGRESS-EXPLAINER

What to watch for at China's major political event this week

SUMMARY: China's annual major political event gets underway this week to endorse decisions already made by the all-powerful Chinese Communist Party. The meetings, expected to last around a week, are important as the country's rubber-stamp parliament retains a key function: to signal the priorities of the government for the coming year and to disseminate instructions to party members and officials across the country. The messaging from leadership appears unchanged from previous years -- stay the course on fostering innovation while also spurring domestic consumption. The question will be how they balance those two goals, and will it be enough to reinvigorate the economy.

WORDS: 958 - MOVED: 03/03/2025 5:38 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:5cf899bfc9d4705135d9dd56c8dc5212&mediaType=text

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CHINA-ECONOMY

China eyeing U.S. farm exports for retaliation, report says, as importers rush to beat tariffs

SUMMARY: Chinese manufacturers reported stronger orders in February as importers rushed to beat higher U.S. tariffs. Surveys of factory managers showed China's official purchasing managers index rose to 50.2%, though that was just above the 50 level that marks the break between contraction and expansion. The new orders index rose to 51.1. Another survey released Monday showed a similar improvement. The stronger-than-expected data came as Chinese leaders gathered in Beijing for the annual session of the National People's Congress. Lawmakers are expected as usual to endorse policies and priorities set by the ruling Communist Party, which could include some fresh help for the economy as it slows to growth economists forecast will fall below 5%.

WORDS: 591 - MOVED: 03/03/2025 3:11 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:b439ce7e8148f6c9b266b1c183c36a1b&mediaType=text

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ML--IRAN

Iranian government official who was key to 2015 nuclear deal resigns under hard-liner pressure

SUMMARY: An Iranian official who was key to the country's 2015 nuclear deal with world powers has reportedly tendered his resignation from the government of reformist President Masoud Pezeshkian. Mohammad Javad Zarif was Iran's former foreign minister and has served as a vice president to Pezeshkian. Zarif has long been a target of hard-liners within the country's theocracy. He had tried to resign once before and it remained unclear whether Pezeshkian has accepted this attempt to leave the government. However, Zarif's move comes after Iran's parliament on Sunday impeached Finance Minister Abdolnasser Hemmati, who once ran for the presidency signaling he'd be willing to talk to the U.S. president directly.

WORDS: 663 - MOVED: 03/03/2025 2:43 a.m. EST

https://newsroom.ap.org/home/search?query=itemid:a1f69333ab317789e3acc23cb46c04fc&mediaType=text

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