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.

Xi and Carney, meeting in South Korea, try to rebuild China-Canada relations

SUMMARY: Chinese President Xi Jinping and Canadian Prime Minister Mark Carney have taken steps to mend their countries' fractured ties. Meeting in South Korea during an Asia-Pacific summit, they called for improving relations pragmatically and constructively. Xi noted that relations are showing signs of recovery due to joint efforts. Carney, who became prime minister in March, emphasized the importance of the relationship and said he hopes to restart cooperation. Relations soured in 2018 after Canada arrested a Huawei executive, leading to China's arrest of two Canadians. More recently, tensions rose over tariffs on electric vehicles and other goods.

WORDS: 516 - MOVED: 10/31/2025 8:02 a.m. EDT

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Amazon hoists Wall Street toward another winning week and month

SUMMARY: The mighty heft of Amazon is pulling the U.S. stock market higher. The S&P 500 rose 0.5% Friday, erasing some of its slump from the day before and pulling closer to its all-time high set on Tuesday. The index is on track to close a third straight winning week and a sixth straight winning month, which would be its longest monthly winning streak since 2021. The Dow Jones Industrial Average added 61 points, and the Nasdaq composite climbed 0.9%. Amazon led the way after delivering a much bigger profit than analysts expected. Treasury yields eased in the bond market.

WORDS: 761 - MOVED: 10/31/2025 12:50 a.m. EDT

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Disney pulls ABC, ESPN and more from YouTube TV as talks break down

SUMMARY: YouTube TV viewers have lost access to Disney channels, including ABC and ESPN, after contract talks broke down. Other channels like the Disney Channel, FX, and Nat Geo have also disappeared. YouTube TV announced Thursday that Disney followed through on a threat to suspend its content during negotiations. YouTube claims Disney used the blackout threat to push for higher prices, benefiting its own streaming services like Hulu + Live TV and Fubo. YouTube TV expressed disappointment and urged Disney to work towards a fair agreement. Subscribers will receive a $20 credit if Disney content remains unavailable for a long time.

WORDS: 332 - MOVED: 10/31/2025 7:23 a.m. EDT

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Instacart, DoorDash, Gopuff among companies offering discounts to SNAP recipients

SUMMARY: Instacart says it will offer customers who receive SNAP benefits 50% on their next grocery order to ease strain as the government prepares to cut off payments. The benefit will be available even if payments are made as scheduled on Nov. 1. Instacart said any customer who placed an order in October using a SNAP/EBT card will be eligible. Instacart is one of several companies reacting to the government's plan to freeze payments to the Supplemental Nutrition Assistance Program because of the government shutdown. DoorDash is also planning to waive service and delivery fees for an estimated 300,000 orders for SNAP recipients in November.

WORDS: 367 - MOVED: 10/31/2025 8:24 a.m. EDT

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Americans staying put: US home turnover rate at lowest level in decades as housing slump drags on

SUMMARY: The number of U.S. homes that typically changes hands as people relocate for work, retire or trade-up for more living space hasn't been this low in nearly 30 years. That's according to an analysis by Redfin, which found that only 28 out of every 1,000 homes changed hands between January and September. This decline suggests homeowners are staying put longer amid rising worry about the job market and economy, and affordability constraints to homeownership despite easing mortgage rates. The job market has slowed, with U.S. employers adding fewer jobs recently. Many homeowners are also reluctant to sell because they secured low mortgage rates in 2020 and 2021, making current rates less appealing.

WORDS: 542 - MOVED: 10/31/2025 9:12 a.m. EDT

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Exxon posts strong quarterly earnings with production in Guyana and the Permian Basin picking up

SUMMARY: Exxon Mobil's third-quarter earnings beat Wall Street's expectations, bolstered by strong Guyana and Permian Basin production. Exxon earned $7.55 billion, or $1.76 per share, for the period ended Sept. 30. It earned $8.61 billion, or $1.92 per share, in the prior-year period. Removing certain items, earnings were $1.88 per share. That was better than Wall Street anticipated, but Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts polled by Zacks Investment Research predicted earnings of $1.81 per share.

WORDS: 479 - MOVED: 10/31/2025 7:00 a.m. EDT

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Nvidia partners with South Korean government, companies to boost AI development

SUMMARY: Silicon Valley chipmaker Nvidia plans to supply its graphics processing units for projects with the South Korean businesses and government to advance the country's artificial intelligence infrastructure and technologies. The government and companies announced the plan after South Korean President Lee Jae Myung met Friday with Nvidia Chief Executive Jensen Huang. He has gotten a rockstar treatment reminiscent of Apple's Steve Jobs since arriving in South Korea on Thursday to attend meetings of the Asia-Pacific Economic Cooperation forum in Gyeongju. As APEC host, South Korea has used the gathering of world leaders to showcase its ambitions in AI.

WORDS: 907 - MOVED: 10/31/2025 2:18 a.m. EDT

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China's factory activity contracts for 7th month, reflecting tariffs pressure on trade

SUMMARY: China has reported its factory activity contracted for a seventh straight month in October, reflecting pressure from higher U.S. tariffs and sluggish domestic demand. The National Bureau of Statistics said Friday that its official purchasing managers index, or PMI, slipped to 49 from 49.8 in September. Measured on a scale between 0 and 100, a PMI reading below 50 indicates contraction. On Thursday, U.S. President Donald Trump and Chinese leader Xi Jinping met and announced plans to scale back their mutual tariffs for at least a year, among other measures that amount to a truce in the trade war between the two biggest economies. China's exports have continued to grow, but consumer spending and investment remain weak.

WORDS: 396 - MOVED: 10/30/2025 11:57 p.m. EDT

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Apple delivers strong quarter despite iPhone sales slowdown and ongoing artificial technology issues

SUMMARY: Apple's iPhone sales growth decelerated during its summertime quarter, but the trendsetting company still delivered financial results that exceeded analyst projections while continuing its efforts to catch up to its Big Tech peers in the artificial intelligence race. The performance announced Thursday was driven by strong demand for the premium models of the iPhone 17 lineup that went on sale last month. Although iPhone sales rose by 6% from the same July-September period last year, the growth was slightly below analyst estimates and less than the pace from the prior quarter. But Apple's profit and revenue still topped analyst forecasts and its stock surged by more than 3% in extended trading.

WORDS: 657 - MOVED: 10/30/2025 5:10 p.m. EDT

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US stocks sink as Wall Street sees both good and bad in Big Tech profits, US-China relations

SUMMARY: The U.S. stock market sank from record heights as Wall Street sifted through mixed developments on everything from the U.S.-China trade war to profits for Big Tech behemoths. The S&P 500 fell 1% Thursday and edged further from its all-time high set on Tuesday. The Dow Jones Industrial Average slipped 0.2%, and the Nasdaq composite dropped 1.6% from its record set the day before. President Donald Trump hailed his much-anticipated talk with China's leader, Xi Jinping, but major tensions remain between the world's two largest economies. On Wall Street, Meta Platforms and Microsoft sank, while Alphabet climbed following its profit report.

WORDS: 855 - MOVED: 10/30/2025 1:43 a.m. EDT

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Deal between the US and China is undoing damage from a self-inflicted trade war

SUMMARY: After months of posturing, arguing and threatening, U.S. President Donald Trump and Chinese leader Xi Jinping have essentially turned back the clock. While the meeting between the two leaders was hailed by Trump as a "roaring success," the agreement that came out of it may only serve to undo some of the damages Trump inflicted with his trade war upon his return to the White House. Nevertheless, the deal has injected a degree of stability, giving the world's two largest economies -- as well as the rest of the world -- time and room to readjust.

WORDS: 1110 - MOVED: 10/30/2025 3:11 p.m. EDT

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Phony AI-generated videos of Hurricane Melissa flood social media sites

SUMMARY: AI-generated videos claiming to show Hurricane Melissa have been circulating on social media, causing confusion. These videos, including sharks in a hotel pool and a damaged airport, are not real. The storm hit Jamaica and Cuba this week, but the clips are AI creations, some using OpenAI's Sora tool. They have gained millions of views on platforms like TikTok and Instagram. To avoid being misled, check for watermarks, examine details closely, verify the source, and trust your instincts. Official sources like the Jamaican government and the National Hurricane Center provide reliable information.

WORDS: 961 - MOVED: 10/29/2025 1:14 p.m. EDT

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Europe's Central Bank leaves key interest rate unchanged as businesses weather US tariffs

SUMMARY: The European Central Bank is leaving its key interest rate unchanged as inflation remains under control and European businesses weather the impact of higher U.S. tariffs better than expected. The bank's deposit rate has stayed at 2% now for the third meeting in a row. The bank has entered a holding pattern after cutting the rate from 4% to snuff out double-digit inflation caused by the rebound from the pandemic and higher energy prices.

WORDS: 654 - MOVED: 10/30/2025 7:16 a.m. EDT

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Average long-term US mortgage rate dips to 6.17%, its lowest level in more than a year

SUMMARY: The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year. The average long-term mortgage rate dropped to 6.17% from 6.19% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.72%. The latest dip brings the average rate to its lowest level since early October 2024, when it was at 6.12%. Lower mortgage rates boost homebuyers' purchasing power. They also benefit homeowners eager to refinance their current home loan to a more attractive rate. Mortgage rates are influenced by several factors, from the Federal Reserve's interest rate policy decisions to bond market investors' expectations for the economy and inflation.

WORDS: 616 - MOVED: 10/30/2025 12:02 p.m. EDT

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Obesity, diabetes treatments fuel Eli Lilly growth and spark bidding war

SUMMARY: The market for obesity and diabetes treatments remains scorching hot, funneling billions in sales to Eli Lilly and spawning a bidding war over another drugmaker. Lilly said Thursday that its top-selling drugs, Mounjaro and Zepbound, brought in more than $10 billion combined during the recently completed third quarter. That made up over half of the drugmaker's $17.6 billion in total sales. Separately, Danish drugmaker Novo Nordisk announced plans to buy Metsera Inc. in a deal that could be worth up to $9 billion. That came more than a month after Pfizer Inc. made a nearly $5 billion bid.

WORDS: 511 - MOVED: 10/30/2025 10:39 a.m. EDT

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Stellantis' shares tumble after posting modest gains, warning of future charges

SUMMARY: Stellantis' shares have dropped 10% after the world's fourth-largest carmaker posted modest third-quarter gains and warned about possible future charges. The company on Thursday reported a 13% increase in net revenues for the three months ending in September. It was driven by strong North American results. Shipments rose 13% to 1.3 million vehicles with nearly 70% of new vehicles shipped in North America. Stellantis warned about charges in the second half of this year because of regulatory changes. CEO Antonio Filosa called the results encouraging as the company continues to implement strategic changes. Stellantis plans to expand its U.S. manufacturing footprint with a $13 billion investment.

WORDS: 485 - MOVED: 10/30/2025 5:06 a.m. EDT

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Universal Music and AI song tool Udio settle lawsuit and partner on new platform, sparking backlash

SUMMARY: Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.

WORDS: 642 - MOVED: 10/30/2025 7:21 a.m. EDT

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