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
--------------------
NISSAN-ENGINE RECALL
DESCRIPTION: Nissan is recalling more than 480,000 of its vehicles across the U.S. and Canada due to potential manufacturing defects that could cause engine failure. The recall covers certain Nissan Rogues between 2021-2024 model years and 2019-2020 Altimas -- as well as a number of 2019-2022 Infiniti QX50s and 2022 Infiniti QX55s sold under the automaker's luxury brand. The vehicles impacted carry specific "VC-Turbo" engines that may have manufacturing defects in their bearings. This may cause engine damage and possibly lead to engine failure while driving, the regulator warns -- increasing crash risks. As a remedy, Nissan and Infiniti dealers will inspect the engine pan of these-now recalled cars -- and repair or replace the engine if necessary.
UPCOMING: By 07/03/2025 11:00 a.m. EDT, Text
___
US PHILADELPHIA-LABOR STRIKE
DESCRIPTION: After negotiations resumed, coverage on merits of the third day of a strike by thousands of city workers in Philadelphia that impacts residential curbside trash collection, 911 call answering, pool and recreation center hours and other services.
ON MERITS: By 07/03/2025 3:00 p.m. EDT, Photo, Alternate Headlines, Text, Video
___
CONGRESS-GREEN ENERGY CUTS
DESCRIPTION: Congress was expected to pass a massive tax and spending cuts package Thursday that curbs billions of dollars in spending across clean energy. That means people will be paying a lot more for home solar, energy efficiency and other green technologies -- and the nation's efforts to address climate change just got a lot more challenging. Things to know about what's in the legislation for clean energy. By Alexa St. John.
UPCOMING: By 07/03/2025 3:00 p.m. EDT, Photo, Text, Video
___
--------------------
NEW AND DEVELOPING
--------------------
US-ECONOMY-JOBS-REPORT
The US labor market continues to surprise and the unemployment rate, against the odds, is falling
SUMMARY: U.S. employers added 147,000 jobs in June as the American labor market continues to show surprising resilience despite uncertainty over President Donald Trump's economic policies. The unemployment rate ticked down to 4.1% from 4.2% in May, the Labor Department said Thursday. Hiring rose modestly from a revised 144,000 in May and beat economists expectations of fewer than 118,000 new jobs and a rise in the unemployment rate.
WORDS: 969 - MOVED: 07/03/2025 10:20 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:1d0ff530d9704e1dd5f4c08205dc0d21&mediaType=text
___
UNEMPLOYMENT BENEFITS
U.S. applications for jobless aid fell to 233,000 last week as layoffs remain low
SUMMARY: Fewer Americans applied for unemployment benefits last week as layoffs in the U.S. remain low despite uncertainty about how tariffs will impact the economy. The Labor Department reported Thursday that jobless claims for the week ending June 28 fell by 4,000 to 233,000, less than the 241,000 that analysts forecast. The four-week average of claims, which evens out some of the weekly volatility, fell by 3,750 to 241,500. Applications for unemployment aid are considered a proxy for layoffs. The total number of Americans collecting unemployment benefits the week of June 21 held steady at 1.97 million.
WORDS: 390 - MOVED: 07/03/2025 9:15 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:afc0c74ae1b5aab6f7d374523b9ec034&mediaType=text
___
FINANCIAL MARKETS, 2ND LD-WRITETHRU
US stocks climb and yields leap on signals the US economy is solid
SUMMARY: U.S. stocks are climbing further into record heights after a report showed the U.S. job market looks stronger than Wall Street expected. The S&P 500 rose 0.7% Thursday and was on track to set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 387 points, and the Nasdaq composite gained 0.9%. The reaction was bigger in the bond market, where Treasury yields jumped. The strong data on U.S. jobs pushed traders to erase bets that the Federal Reserve could cut its main interest rate at its next meeting later this month.
WORDS: 747 - MOVED: 07/03/2025 10:28 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6387b5b91e5119ef0ce70be2494abc55&mediaType=text
___
EU--RUSSIA-UKRAINE-WAR-US WEAPONS
How Ukraine can cope with the US pause on crucial battlefield weapons
SUMMARY: Ukrainian authorities are enlisting European help to increase domestic military production as the United States pauses some weapons shipments to Ukraine. European countries don't have the production levels, military stockpiles or the technology to pick up all the slack left by the U.S. pause. But Ukraine is recruiting their help for ambitious joint investment projects. The reality though is that some high-tech U.S. weapons are irreplaceable including Patriot air defense missiles. Washington's decision comes at a tough time for Kyiv. Russia's bigger army is making a concerted push on parts of the roughly 1,000-kilometer or 620-mile front line and is intensifying long-range drone and missile attacks that increasingly hammer civilians in Ukrainian cities.
WORDS: 804 - MOVED: 07/03/2025 9:37 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ca5e90a0c1f2cc938dafa9c9e9d061c9&mediaType=text
___
ONE TECH TIP-BETTER AI PROMPTING
One Tech Tip: Get the most out of ChatGPT and other AI chatbots with better prompts
SUMMARY: If you're using ChatGPT but getting mediocre results, don't blame the chatbot. The problem might be your prompts. There's a lot you can do to improve the prompt to get better answers. Be specific because a chatbot can't read your mind. Give clear and explicit instructions on what you need it to do. Ask follow-up questions or refine your original query, like you would in a conversation. You can tell the chatbot to respond in a specific voice or style, and the type of person that the response is aimed at. Give it all the background behind the reason for your request and how extensive - or short - the answer should be.
WORDS: 931 - MOVED: 07/03/2025 9:36 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9decab8abe739f44bbc932f32e13ea9b&mediaType=text
___
OCEAN--FISHERIES-CAPTURING CARBON-GIGABLUE
An Israeli startup says its new technology will save the planet. Scientists have doubts
SUMMARY: A startup called Gigablue claims to have reached a milestone by selling 200,000 carbon credits for its ocean-based carbon capture technology. The company says its patented particles grow algae that trap carbon dioxide, which then sinks to the ocean floor. Outside scientists, however, question the effectiveness and environmental impact of this method, citing a lack of public data and concerns about marine ecosystems. Gigablue has conducted trials in New Zealand and plans to expand operations. While some buyers trust the company's promises, experts remain skeptical about its unproven technology and the broader implications of such ocean-based carbon removal efforts.
WORDS: 2978 - MOVED: 07/03/2025 9:11 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:06be29dd4dd2e8d3c0f92ac20e9ea193&mediaType=text
___
US--CONGRESS-TAX CUTS
House Republicans are pushing Trump's big bill to the brink of passage
SUMMARY: House Republicans are ready to vote on President Donald Trump's $4.5 trillion tax breaks and spending cuts bill early Thursday. GOP leaders were up all night and the president himself worked to persuade skeptical holdouts to drop their opposition and deliver by their Fourth of July deadline. The package would extend tax breaks that would otherwise expire at year's end. To help offset lost revenue, it cuts some $1.2 trillion in Medicaid health care and food stamps programs, and rolls back green energy investments. Pushing the package this far has been difficult at every step. GOP lawmakers are going it alone over unified Democratic opposition.
WORDS: 1121 - MOVED: 07/03/2025 7:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ced365c347de9320eef2ccb8df16dda2&mediaType=text
___
US--TRUMP-EDUCATION-GRANT FREEZE
Some education grants in limbo were used for 'leftwing agenda,' Trump administration says
SUMMARY: The Trump administration has accused states and schools of using federal education grants to help fund "a radical leftwing agenda." The administration this week froze over $6 billion in federal education grants meant for immigrant and low-income students. Officials say they are reviewing the funds to ensure alignment with President Donald Trump's priorities. On Wednesday, the Office of Management and Budget claimed some grants were misused to support immigrants in the country illegally or promote LGBTQ+ inclusion. Programs for English learners and migrant children are among those affected, leaving schools scrambling to adjust. Advocates say the majority of children in English language programs were born in the United States.
WORDS: 678 - MOVED: 07/03/2025 3:45 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:093aa36735f5d50de7406ee8465e1729&mediaType=text
___
ML--EMIRATES-DUBAI-RESTAURANTS
Dubai's booming restaurant scene is feeling the heat of high costs and high failure rates
SUMMARY: Dubai's 13,000 food and drink establishments go all out to attract customers in one of the world's most saturated dining markets. They cater to all tastes and budgets: inexpensive biryani, dishes dusted with edible gold, suspended tables and underwater lounges. These are some of the ways the emirate competes with its neighbors for tourist dollars and so far it's beating them handily. Dubai has more restaurants per capita than any major city beside Paris. But the city-state's booming restaurant scene is testing the limits of its growth-at-all-costs model.
WORDS: 859 - MOVED: 07/03/2025 1:32 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9ed3b9ab9d12748880bfef889e4c5784&mediaType=text
___
US--JULY FOURTH-POOL PARTY PRICES
Why hosting a July Fourth pool party may cost less this year
WORDS: 640 - MOVED: 07/03/2025 1:05 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:fb4e60637e0a9e4cfc4e8b6664f91a99&mediaType=text
___
OCEAN--FISHERIES-CAPTURING CARBON-GIGABLUE-TAKEAWAYS
Takeaways from AP report on company that sold 200,000 carbon credits to remove CO2 from ocean
SUMMARY: A startup called Gigablue claims to have reached a milestone by selling 200,000 carbon credits for its ocean-based carbon capture technology. The company says its patented particles grow algae that trap carbon dioxide, which then sinks to the ocean floor. Outside scientists, however, question the effectiveness and environmental impact of this method, citing a lack of public data and concerns about marine ecosystems. Gigablue has conducted trials in New Zealand and plans to expand operations. While some buyers trust the company's promises, experts remain skeptical about its unproven technology and the broader implications of such ocean-based carbon removal efforts.
WORDS: 1088 - MOVED: 07/03/2025 12:03 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:fbf9676103e95919f7b9a2e05d34d0b2&mediaType=text
___
