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
--------------------
MORTGAGE RATES
DESCRIPTION: Freddie Mac reports on this week's average U.S. mortgage rates. By Alex Veiga. UPCOMING: 250 words after noon release.
UPCOMING: By 04/03/2025 12:00 p.m. EDT, Photo, Text
___
BRICS-ENVIRONMENT-BRAZIL
DESCRIPTION: BRASILIA, Brazil -- Environment ministers from the bloc of developing economies known as BRICS -- a group of 10 countrie that includes China, Russia, Brazil and India -- meet Thursday to discuss issues ranging from climate change to desertification. By Fabiano Maisonnave. On merits.
UPCOMING: By 04/03/2025 4:00 p.m. EDT, Text
___
BBO--RAYS BALLPARK
DESCRIPTION: A plan to repair the hurricane-shredded roof at Tropicana Field, home of the Tampa Bay Rays, is scheduled to be considered Thursday by the St. Petersburg City Council after the team nixed a proposed new $1.3 billion ballpark. The team hopes to return to the Trop for the 2026 season.
UPCOMING: By 04/03/2025 5:00 p.m. EDT, Photo, Text, Video
___
US--LOUISIANA OIL COMPANIES LAWSUIT
DESCRIPTION: A landmark trial more than a decade in the making in south Louisiana seeks to hold Chevron and other oil companies responsible for billions of dollars in damages for knowingly engaging in harmful practices that destroyed the state's fragile wetlands and accelerated land loss. The outcome of the jury trial will influence the dozens of other related lawsuits across the state. Closing arguments are scheduled for Thursday. Story on merits pending verdict.
UPCOMING: By 04/03/2025 7:00 p.m. EDT
___
--------------------
NEW AND DEVELOPING
--------------------
FINANCIAL MARKETS
Dow drops 1,200 as US stock market leads a worldwide sell-off following Trump's tariff shock
SUMMARY: Financial markets around the world are reeling following President Donald Trump's latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it. The S&P 500 fell 3.3% Thursday. The Dow Jones Industrial Average dropped 1,204 points, and the Nasdaq composite sank 4.3%. Little was spared as fear flared globally about the potentially toxic mix of higher inflation and weakening economic growth that tariffs can create. Prices fell for everything from crude oil to Big Tech stocks to small companies that invest only in U.S. real estate. Even gold pulled lower.
WORDS: 927 - MOVED: 04/03/2025 9:59 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:52dbb020a4c41122e31669c2da236d67&mediaType=text
___
LT--BRAZIL-LULA
Once called the world's most popular politician, Brazil's Lula faces plummeting approval
SUMMARY: Brazil's President Luiz Inácio Lula da Silva was once called the most popular politician on Earth by then-U.S. President Barack Obama. Those times are long gone. Halfway through his four-year term, Lula has faced consistent dipping approval these past months and at levels never before seen across all three of his administrations. Despite the South American giant's growing economy and decreasing unemployment, people are complaining about higher food prices and crime. Lula's approval rating has dropped to 24%, according to pollster Datafolha in its latest February poll. That is an all-time low across his time in office between 2003 and 2010 and since he took office again in 2023.
WORDS: 956 - MOVED: 04/03/2025 10:17 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:52c1e006d260ccdeda8ba57d36c5161e&mediaType=text
___
EU--NATO-US
Rubio tries to reassure wary allies of US commitment to NATO as Trump sends mixed signals
SUMMARY: U.S. Secretary of State Marco Rubio and the Trump administration's new envoy to NATO are seeking to reassure wary NATO members of the U.S. commitment to the alliance. Rubio decried "hysteria and hyperbole" in the media about U.S. President Donald Trump's intentions despite persistent signals from Washington that NATO as it has existed for 75 years may no longer be relevant. Rubio and new NATO envoy Matthew Whitaker are in Brussels for a meeting of alliance foreign ministers at which many are hoping Rubio will shed light on U.S. security plans in Europe.
WORDS: 831 - MOVED: 04/03/2025 10:10 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:210c5c3856ab32570f165ea31be5e39e&mediaType=text
___
US--EEOC-DEI
EEOC chief shifts focus to investigating DEI but the methods provoke an outcry
SUMMARY: The acting chief of the top federal agency for protecting worker rights has signaled a pivot toward prioritizing President Donald Trump's campaign to stamp out diversity, equity and inclusion programs in the private and public sectors. The initial steps taking by Andrea Lucas, acting chief of the Equal Opportunity Employment Commission, have earned her backing from the Trump administration. But former Democratic EEOC officials and prominent civil rights groups have accused Lucas of taking shortcuts that supersede her authority and they have urged employers to be wary of her directives and guidance, if not altogether ignore them.
WORDS: 1157 - MOVED: 04/03/2025 10:00 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:bc3aff73de5e3649b1daccf718eefdc2&mediaType=text
___
US--BE WELL-WORKING WELL-EMPLOYEE RESOURCE GROUPS
Community, mentors and skill-building: Experts weigh the role of employee resource groups
SUMMARY: Employer-sanctioned groups designed to enhance diversity and inclusion began in corporate America in the 1970s to help address tensions around race, gender and sexual orientation. Over the years, the focus of employee resource groups has expanded to recognize other affiliations and experiences. Today, companies may have workplace groups devoted to caring for a family member, mental health challenges or addressing generational divides. An executive order President Donald Trump signed with the goal of ending diversity, equity and inclusion programs has created uncertainty around the future of employee resource groups. Experts have advice for people who may be wondering if they can start or participate in workplace affinity groups.
WORDS: 1263 - MOVED: 04/03/2025 9:48 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:49a63a253a42f8d71b6981b85158a11f&mediaType=text
___
EU--TRUMP-TARIFFS-TINY TARGETS
Rocky outcrops home to polar bears and tiny tropical islands slapped with US tariffs
SUMMARY: The Trump administration appears to be leaving no stone unturned with its sweeping tariffs around the globe, from rocky outcrops home to polar bears in the Arctic to tiny tropical islands to a former British penal colony. The U.S. president rattled markets, manufacturers and more Wednesday by announcing a baseline of 10% tariffs on imports into the United States. Here's a look at some target territories that have little to no production, exports or role in the global economy. The leader of one such territory said its people were "scratching our heads" about why it was targeted.
WORDS: 875 - MOVED: 04/03/2025 9:36 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:dd11cff84a6b8cedb90dc63b31ead306&mediaType=text
___
US--UNEMPLOYMENT BENEFITS
Fewer Americans file for jobless benefits last week as labor market continues to show strength
SUMMARY: The number of Americans seeking unemployment benefits fell modestly last week, remaining within the same range of recent years. Jobless claim filings fell by 6,000 to 219,000 for the week ending March 29, the Labor Department said Thursday. That's less than the 226,000 new applications analysts forecast. Weekly applications for jobless benefits are considered a proxy for layoffs, and have remained mostly in a range between 200,000 and 250,000 for the past few years. The total number of Americans receiving unemployment benefits for the week of March 22 increased by 56,000 to 1.9 million.
WORDS: 490 - MOVED: 04/03/2025 8:53 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:7fbff64930a247667fdc2a2ee271b2eb&mediaType=text
___
TRUMP-TARIFFS-GLOBAL-REACTION
Sweeping Trump tariffs draw dismay, calls for talks from countries around the globe
SUMMARY: Tariff hikes announced by U.S. President Donald Trump have provoked dismay, threats of countermeasures and calls for further negotiations to make trade rules fairer. The measured responses from key trading partners highlighted a lack of appetite for an outright trade war. Trump said the import taxes, ranging from 10% to 49%, would do to U.S. trading partners what they have long done to the U.S. He maintains they will draw factories and jobs back to the United States. But many others said the tariffs would be harmful to vulnerable people and raise the risk of recession. Financial markets were jolted, and prices of oil and bitcoin dropped.
WORDS: 1188 - MOVED: 04/03/2025 8:17 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:5b8411d056e013015a0df6227b41dd5b&mediaType=text
___
US-PHILANTHROPY-RIHANNA-FOUNDATION
Why Rihanna's expanding Clara Lionel Foundation is seen as a model for celebrity philanthropy
SUMMARY: Rihanna fans might know the musician for hits such as "Umbrella" and "Diamonds." But it is the billionaire's philanthropy that is poised to make waves. Rihanna started the Clara Lionel Foundation in 2012. It is named after her grandparents and has focused on health and her home country of Barbados. Its broader ambitions are now reflected in a strategy refresh that promises to send more resources toward the under-invested regions of East Africa, the Caribbean and the U.S. South. Close partners and independent experts applaud the foundation for embracing trust-based giving. Rihanna says the foundation's DNA still holds that "notion of love for community and for our roots."
WORDS: 1301 - MOVED: 04/03/2025 8:09 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:11f6562a8f0e86630d775be6642a3f35&mediaType=text
___
US--TRUMP-TARIFFS
Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars
SUMMARY: President Donald Trump has announced far-reaching new tariffs on nearly all U.S. trading partners -- including a 34% tax on imports from China and 20% on the European Union, among others. Trump placed the elevated tariff rates on dozens of nations that run meaningful trade surpluses with the United States, while imposing a 10% baseline tax on imports from all countries. The Republican president used aggressive rhetoric to describe a global trade system the U.S. helped to build after World War II, saying "our country has been looted, pillaged, raped and plundered" by other nations. The action kickstarts what could be a painful transition for many Americans, who could find middle-class essentials such as housing, autos and clothing more costly.
WORDS: 1597 - MOVED: 04/03/2025 7:30 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:2a031b3c16120a5672a6ddd01da09933&mediaType=text
___
EU--EUROPEAN PARLIAMENT-LE PEN-EXPLAINER
The EU Parliament has transparency problems. Marine Le Pen's case is a window into what's wrong
SUMMARY: The conviction of French far-right leader Marine Le Pen for embezzling funds from the EU Parliament has sent shockwaves around the continent and beyond. But it's just one example of transparency problems that have long plagued the legislature. Le Pen's political allies have cried foul over this week's ruling that could block her chances at securing France's presidency in 2027. She's one of 24 people convicted in Monday's ruling in Paris. Transparency advocates say the case underlines broader issues related to lack of oversight at the EU legislature. It affects members across the political spectrum.
WORDS: 839 - MOVED: 04/03/2025 2:24 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3293717d677e05f2a66f67e50018d760&mediaType=text
___
US-MICROSOFT-ANNIVERSARY-CATALYTIC CODE
Microsoft founder Bill Gates reflects upon a 50-year-old computer code that reshaped technology
SUMMARY: Even as he grows older, Microsoft founder Bill Gates still fondly remembers the catalytic computer code he wrote 50 years ago that opened up a new frontier in technology. Although the code that Gates printed out on a teletype machine may look crude compared to what's powering today's artificial intelligence platforms, it played a critical role in creating Microsoft in April 1975 -- a golden anniversary that the Redmond, Washington, company will celebrate on Friday.
WORDS: 536 - MOVED: 04/03/2025 12:30 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:dd33373215f6d22ccf4faa2913f6075f&mediaType=text
___
CB--HAITI-JOURNALISTS UNDER ATTACK
Journalists in Haiti defy bullets and censorship to cover unprecedented violence
SUMMARY: Journalists in Haiti are under attack like never before. They are dodging bullets, defying censorship and setting personal struggles aside as they document the downfall of Haiti's capital and the surge in violence blamed on powerful gangs that control 85% of Port-au-Prince. Heavily armed gangs attacked at least three TV and radio stations in March. Two of the buildings were already abandoned because of previous violence, but gunmen stole equipment that had been left behind. Gangs sent an even deadlier message on Christmas Eve: they opened fire on journalists covering the failed reopening of Haiti's largest public hospital, saying they had not authorized its reopening.
WORDS: 1270 - MOVED: 04/03/2025 12:27 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a28d55fed4433c8842290fb6e16fa4c9&mediaType=text
___
US-XGR--NORTH CAROLINA-GREENHOUSE GASES
Rare greenhouse gas law in Southern state could get pulled back by GOP legislators
SUMMARY: North Carolina enacted a rare energy law in the South in 2021 that directed power plant emissions be sharply reduced. But now the state's GOP-controlled legislature is seeking to repeal a key element in that law. The Senate wants to do away with the requirement to take "all reasonable steps to achieve" reducing carbon dioxide output 70% from 2005 levels by 2030. Bill sponsors say regulators have already delayed the deadline as the law allows and the change would help Duke Energy assemble less expensive power sources now. Bill critics say the interim goal is useful to meet a 2050 carbon neutrality standard that still would be in place.
WORDS: 888 - MOVED: 04/03/2025 12:07 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:3ec75336cbe3175d69148a0b30f10e0a&mediaType=text
___
EU--GREENLAND-DENMARK
Danish prime minister visits Greenland as Trump seeks control of the Arctic territory
SUMMARY: Danish Prime Minister Mette Frederiksen is in Greenland for a visit aimed at building the trust of Greenlandic officials as the Trump administration is seeking control of the Arctic territory. Frederiksen announced plans for the three-day trip after U.S. Vice President JD Vance visited a U.S. air base in Greenland and accused Denmark of underinvesting in the territory. Greenland is a mineral-rich and strategically critical island that is becoming more accessible because of climate change. U.S. President Donald Trump has said Greenland is critical to Washington's security. The island is geographically part of North America but is a semiautonomous territory belonging to the Kingdom of Denmark.
WORDS: 471 - MOVED: 04/03/2025 12:02 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:eac862993ca6c43f19a2ba9e1a454574&mediaType=text
___
