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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PORTUGAL ECB FORUM

DESCRIPTION: European Central Bank meeting in Portugal. 400 words on merit

UPCOMING: By 06/30/2025 3:00 p.m. EDT, Text, LiveVideo, Video

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NEPAL-CLIMATE CHANGE

DESCRIPTION: A Himalayan village in Nepal has vanished -- emptied by climate change. Samjung, perched in the high-altitude Upper Mustang region, was once home to a few dozen yak herders and barley farmers. But its streams dried up and snowfall disappeared. Then, a sudden flood destroyed many homes. That was the last straw. The villagers relocated and named their new settlement "New Samjung." Scientists say warming in the Himalayas is accelerating, melting glaciers and disrupting weather patterns. Some residents now grow apples or work in tourism, but many still long for the village they left behind forever as climate change transforms the mountains.

UPCOMING: By 06/30/2025 9:00 p.m. EDT, Alternate Headlines, Photo, Text, Video

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NEW AND DEVELOPING

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US--HOME DEPOT-GMS

Home Depot buying specialty building products distributor GMS in deal worth about $4.3B

SUMMARY: Home Depot is buying specialty building products distributor GMS Inc. in a deal valued at approximately $4.3 billion. Including debt, the deal value totals $5.5 billion. The transaction will help strengthen Home Depot's relationship with professional contractors. GMS distributes specialty building products including drywall, ceilings, steel framing and other products related to construction and remodeling projects in residential and commercial end markets.

WORDS: 186 - MOVED: 06/30/2025 8:54 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c47328567c7a8c175d1c18b1ebd9166f&mediaType=text

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US--PHILANTHROPY-GIVING-FUNDS

GoFundMe is refurbishing a little-known financial tool in a bid to supercharge everyday giving

SUMMARY: Giving Funds is GoFundMe's latest in a flurry of product rollouts with the purported goal of moving stagnant U.S. charitable contributions beyond the 2% GDP mark where totals have long hovered. But the for-profit company's DAF, announced Monday, enters a crowded market of more than a thousand providers. To transform the way that everyday users plan their donations, Cadogan will have to widen the appeal of DAFs beyond the likes of the technology entrepreneur's circles. And he wants to change public perceptions of his company as just a crowdfunding site. He says "we're also hopeful that more people will start using GoFundMe for a broader set of things in their lives."

WORDS: 1068 - MOVED: 06/30/2025 8:11 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:dcfb4af8a32f412d5a9f1aebbe95a907&mediaType=text

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US--SUPREME COURT-CAMPAIGN FINANCES

Supreme Court takes up a Republican appeal to end limits on party spending in federal elections

SUMMARY: The Supreme Court will take up a Republican-led drive to wipe away limits on how much political parties can spend in coordination with candidates for Congress and president. The justices said Monday they'll review an appellate ruling that upheld a provision of federal election law that's more than 50 years old. Democrats wanted the court to leave the law in place. Since Chief Justice John Roberts joined the court in 2005, a conservative majority has upended a variety of congressionally enacted limits on raising and spending money to influence elections. The court's 2010 Citizens United decision opened the door to unlimited independent spending in federal elections. The case will be argued in the fall.

WORDS: 499 - MOVED: 06/30/2025 10:13 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a6b43b10ae73e58cc2e7af581b91ec76&mediaType=text

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US--MEDIA-TRUMP-ON THE PHONE

Who's calling? A reporter, and it's often President Donald Trump answering

SUMMARY: Reporters are used to calling sources on the telephone for quotes and information. But dialing up the leader of the free world? There's evidence that President Donald Trump is making greater use of his phone to conduct interviews, often on the spur of the moment. Several were done in the wake of the U.S. bombing of Iran. It's a seemingly paradoxical development for the leader of an administration that has shown its hostility to the news media on several fronts. Trump also has assented to interviews with callers for whom he's shown hostility in the past.

WORDS: 1278 - MOVED: 06/30/2025 9:58 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:7ee47adcbe2c0bb7f2fcb842c0891bbd&mediaType=text

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US--STATE BUDGET UNCERTAINTY

States brace for impact as Trump's big bill nears completion in Congress

SUMMARY: President Donald Trump's tax cut bill could have large implications for states. The legislation nearing completion in Congress could reduce federal funding to states for Medicaid and food assistance programs. But in many states, it's too late to do much about it this year. Tuesday marks the start of a new budget year in 46 states. Though a few are still working, many state legislatures already have adjourned and had to craft a budget without knowing whether their federal funding would be cut. Some states have set aside money as a precaution. Others are tentatively planning to return in special sessions.

WORDS: 978 - MOVED: 06/30/2025 9:50 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:2e6ac67454045ee402f3361f62a5e97b&mediaType=text

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AS--INDIA-FACTORY FIRE

At least 12 killed in an explosion and fire at a pharmaceutical factory in southern India

WORDS: 296 - MOVED: 06/30/2025 9:47 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:ed032b2c921151585169837c342451d4&mediaType=text

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US--CONGRESS-TAX CUTS

Senate Republicans are in a sprint on Trump's big bill after a weekend of setbacks

SUMMARY: The Senate has reopened as it tries to sprint ahead on President Donald Trump's big bill of tax breaks and spending cuts after weekend setbacks. An all-night session to consider proposed amendments, called a vote-a-rama, was abruptly postponed. But it's now underway as the Senate gaveled open Monday. Senate Majority Leader John Thune says it's time to vote. With Democrats united against the Republican president's legislation, the voting could take all day. The day ahead could be pivotal for Republicans, who are racing to meet Trump's Fourth of July deadline to pass the bill. The House is being called back to session for votes as soon as Wednesday, if the Senate can pass the bill.

WORDS: 997 - MOVED: 06/30/2025 9:44 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:549c2fdd47c1965007282b8461687bc9&mediaType=text

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FINANCIAL MARKETS

US stocks add to their all-time high

SUMMARY: U.S. stocks are adding to their records as Wall Street nears the finish of a second straight winning month. The S&P 500 rose 0.2% Monday in its first trading after completing a stunning rebound from its springtime sell-off of roughly 20%. The Dow Jones Industrial Average added 142 points, and the Nasdaq composite gained 0.2%. Stocks got a boost after Canada said it's resuming talks on trade with the United States after rescinding a planned tax on U.S. technology firms that had angered U.S. President Donald Trump. Treasury yields eased in the bond market.

WORDS: 725 - MOVED: 06/30/2025 9:43 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:765fd2c2e1e15aaa560da7ad3078bb53&mediaType=text

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UNITED NATIONS-DEVELOPMENT FUNDING

US skips global UN meeting aimed at raising trillions to combat poverty

SUMMARY: Many of the world's nations, but not the United States, are gathering Monday in Spain to tackle the growing gap between rich and poor nations. They will try to drum up trillions of dollars needed to close it. Many countries face escalating debt burdens, declining investments, decreasing international aid and increasing trade barriers. Co-hosts the U.N. and Spain believe the meeting is an opportunity to close the staggering $4 trillion annual financing gap to promote development and bring millions of people out of poverty. More than 70 world leaders are attending. The U.S. pulled out of the process earlier this month.

WORDS: 732 - MOVED: 06/30/2025 9:32 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e7b965e2a160b7c51f7da6fcf58edc29&mediaType=text

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FINANCIAL MARKETS-WALL STREET RECOVERY

How Wall Street powered to a record high and what comes next

SUMMARY: A trade war. A real war with bombs dropped in the Middle East. A barrage of insults hurled by the president of the United States at the head of the Federal Reserve. The stock market has powered through all of that in the past few months to set a new record Thursday and reward investors who stayed their ground through a volatile stretch. The S&P 500 closed at an all-time high of 6,173. While Wall Street can take a bow ,there's no let-up ahead. Trade policy as well as a new batch of profit reports and economic indicators could all sway the markets in July.

WORDS: 791 - MOVED: 06/30/2025 9:14 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:1bd2027a7564f42cc1387d8f3115def9&mediaType=text

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EU--BRITAIN-ISRAEL-ARMS EXPORTS

Judges rule against Palestinian human rights group's claim that the UK is illegally arming Israel

SUMMARY: A Palestinian human rights group lost a legal challenge against the U.K. government over supplying Israel with parts for F-35 fighter jets. The High Court in London ruled on Monday the case involves national security issues that are part of a defense collaboration with the U.S. and other partners. The Palestinian group Al-Haq argued the exports violate international law and contribute to atrocities in Gaza. Judges said it is up to the government, not the courts, to decide on such matters. The Campaign Against Arms Trade, a nonprofit group, estimates that the U.K. supplies about 15% of components for F-35 fighter jets, including laser targeting systems.

WORDS: 536 - MOVED: 06/30/2025 8:13 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:5c4b053513d9b3394b6e57237e4c7fe4&mediaType=text

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EU--GREECE-GOVERNMENT

A hard-right lawmaker is sworn in as Greece's migration minister

WORDS: 314 - MOVED: 06/30/2025 6:56 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:4701dcb929b9b73708b7523d37e436e9&mediaType=text

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AS--CHINA-JAPAN-SEAFOOD IMPORTS

China lifts a nearly 2-year ban on seafood from Japan over Fukushima wastewater

WORDS: 475 - MOVED: 06/30/2025 5:42 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f1b2b21d6afd179d63dfd321384286da&mediaType=text

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EU--DENMARK-FEMALE CONSCRIPTION

Women can be drafted into the Danish military as Russian aggression and military investment grows

SUMMARY: Danish women who turn 18 after Tuesday will be entered into the draft lottery system for military service. It will place them on an equal footing with their male compatriots. The change comes against a backdrop of Russian aggression and growing military investment across NATO countries. Denmark is a nation of 6 million people and has about 9,000 professional troops. The new arrangement is expected to bring up to 6,500 annual conscripts by 2033. That's up from 4,700 last year. Denmark's gender-parity reforms were originally outlined in 2024 as part of a major defense agreement. The program was originally expected to be implemented by early 2027. But it has been brought forward to summer 2025.

WORDS: 757 - MOVED: 06/30/2025 5:30 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:e5070c4f1dd1c9d648a28e45d52a18f7&mediaType=text

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CHINA-ECONOMY

Chinese factory activity improves slightly with delay on tariffs, but still lags

WORDS: 476 - MOVED: 06/30/2025 1:33 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:dc63eac22dc66c608abf0ad14f87c83f&mediaType=text

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EU--SOUTHERN EUROPE-HEAT WAVES

Severe heat wave hits southern Europe and raises wildfire risks

SUMMARY: Major heat waves have pushed temperatures above 40 degrees Celsius or 104 degrees Fahrenheit in southern European countries including Italy, Spain and Greece. Local authorities issued new warnings against the risk of wildfires. Experts link the rising frequency and intensity of these heat waves to climate change. They warn that such extreme weather events are becoming increasingly common across Europe's southern region. Major heat waves were recorded in Italy, Greece, Spain and Portugal before the weekend. Locals and tourists alike are taking shelter from the sweltering conditions. Two-thirds of Portugal were on high alert Sunday for extreme heat and wildfires as temperatures were expected to top 42 C or 107 F in Lisbon.

WORDS: 513 - MOVED: 06/30/2025 1:18 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f6eeeb8f8f0d63d40d3da4911cc42d40&mediaType=text

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ENT--FILM-BOX OFFICE

'F1' opens with $55 million, delivering Apple its biggest big-screen hit

SUMMARY: Apple has its first box-office hit. According to studio estimates Sunday, "F1 The Movie" debuted with $55.6 million in North American theaters and $144 million globally over the weekend, handing the tech company easily its biggest opening yet. "F1" was Apple's first foray into summer blockbuster territory. Universal's "M3gan 2.0" had been expected to pose a greater challenge to "F1." Instead, the robot doll sequel collected a modest $10.2 million in 3,112 theaters. "How to Train Your Dragon," the box-office leader of the last two weekends, slid to second place with $19.4 million

WORDS: 826 - MOVED: 06/30/2025 12:38 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c65f7c7c7b2dc3db731e4afd587d73d1&mediaType=text

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AS--HONG KONG-NATIONAL-SECURITY-LAW

Hong Kong's security net extends beyond arrests as small businesses pressured

SUMMARY: It's been years since Hong Kong's mass arrests of activists devastated its pro-democracy activism. But a crackdown on dissent in the semi-autonomous Chinese city is still expanding, hitting restaurants, bookstores and other small businesses. Shops and eateries owned by people once associated with the largely subdued pro-democracy movement are feeling a tightening grip through increased official inspections, anonymous complaint letters and other regulatory checks. Those critical of the political changes say it's a less visible side of a push to silence dissent that began five years ago, when Beijing imposed a national security law to crush challenges to its rule.

WORDS: 1190 - MOVED: 06/30/2025 12:18 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:be9ba88d5af8e039558007c64c5247e4&mediaType=text

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