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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NEW AND DEVELOPING

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EU--SWITZERLAND-US-TARIFFS

Switzerland's president rushes to Washington in effort to avert steep US tariffs

SUMMARY: Switzerland's president and other top officials are traveling to Washington in a hastily arranged trip aimed at striking a deal with the Trump administration over steep tariffs. The proposed tariffs have cast a pall over Swiss industries like chocolates and watchmaking. President Karin Keller-Sutter is leading a delegation to the U.S. capital after last week's announcement that exports of Swiss goods to the U.S. will face a whopping 39% percent tariff starting Thursday. That is over 2 1/2 times higher than the rate on European Union goods exported to the U.S.

WORDS: 592 - MOVED: 08/05/2025 10:25 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:2a8c9448855c764a0a9ef7c494beb91f&mediaType=text

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FINANCIAL MARKETS

Wall Street holds steadier following a whipsaw couple of days

SUMMARY: Wall Street is holding steadier following its see-saw ride that bracketed the weekend. The S&P 500 rose 0.1% Tuesday after following up its worst day since May with its best since May. The Dow Jones Industrial Average added 77 points, and the Nasdaq composite rose 0.1%. Worries are still high that President Donald Trump's tariffs may be hurting the economy. But increased hopes for cuts to interest rates by the Federal Reserve, along with a stream of stronger-than-expected profit reports from U.S. companies, are helping to support the market. Palantir Technologies and DuPont were among Tuesday's winners.

WORDS: 534 - MOVED: 08/05/2025 9:49 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:aaefba66fe902c6d93f2a75ef25cf45a&mediaType=text

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US--TRUMP-DATA PROBLEMS

In rejecting the jobs report, Trump follows his own playbook of discrediting unfavorable data

SUMMARY: President Donald Trump has a pattern of dismissing or altering data that reflects poorly on him. During his first term, the Republican president suggested reducing COVID-19 testing to make the outbreak seem less severe. When he lost the 2020 election, he falsely said the vote count was fraudulent. And on Friday, after a jobs report showed economic distress, he fired the official responsible for the data and called the report "phony." Critics warn manipulating data could harm public trust and lead to misguided policies. Experts stress the importance of trustworthy data for government and businesses. The White House disputes any claims Trump wants to hide numbers that undermine his preferred narratives.

WORDS: 1235 - MOVED: 08/05/2025 9:41 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:5138de0a2abfb45546fe40d70bcca346&mediaType=text

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PALANTIR-NEW HIGHS

Palantir books its first $1 billion in quarterly sales after dodging US spending cuts

SUMMARY: Shares of Palantir Technologies appear to be heading toward another record high after booking its first $1 billion in quarterly sales and raising its outlook for the year. The stock rose above $170 before the opening bell Tuesday, which would be tops for the company that has already notched record highs four times this year, the most recent on July 25 when its stock closed at $158.80. Since going public in 2020 when it posted a $1.17 billion annual loss, the artificial intelligence software company has slowly swung to a profit, which rose 33% to $327 million in the second quarter.

WORDS: 398 - MOVED: 08/05/2025 9:33 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:08c793327a723336cb2edcd057fa8252&mediaType=text

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NATO-UKRAINE

NATO to coordinate regular and large-scale arm deliveries to Ukraine. Most will be bought in the US

SUMMARY: NATO has started coordinating regular deliveries of large weapons packages to Ukraine, most bought from the U.S. Sweden said Tuesday that it would work with neighbors Denmark and Norway to provide $500 million worth of air defenses, anti-tank weapons, ammunition and spare parts. It follows a Dutch announcement of air defense equipment and ammunition worth $578 million. NATO says the weapons "packages will be prepared rapidly and issued on a regular basis." The equipment is based on Ukraine's priority needs on the battlefield. Air defense systems are in greatest need. The United Nations has said Russia's relentless pounding of urban areas has killed more than 12,000 Ukrainian civilians.

WORDS: 620 - MOVED: 08/05/2025 8:58 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f256489ea9e10a81dba83a5c58420668&mediaType=text

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OCEAN-FISHERIES-ANTARCTIC KRILL

Krill fishery in Antarctica shut down after record catch triggers unprecedented early closure

SUMMARY: Officials have shut down the krill fishery near Antarctica early after exceeding the seasonal catch limit for the first time. This decision follows a report detailing a surge in krill catches after a conservation framework lapsed without a new plan. The Commission for the Conservation of Antarctic Marine Living Resources confirmed the early closure of the 2024-25 season. The U.S., Russia, China, and other governments failed to approve a new management plan. Krill is crucial for marine ecosystems and climate change mitigation. Researchers highlight its role in removing 20 million tons of carbon annually from the atmosphere.

WORDS: 455 - MOVED: 08/05/2025 8:30 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:a4525f1f68d3beca3212caa9096dde27&mediaType=text

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US-MONEY MATTERS-RETIREMENT

Take this simple step as you approach retirement

SUMMARY: While most retirement portfolios include allocations to stocks and bonds in the years leading up to retirement, most retirement savers don't hold much more than an emergency cushion in cash. Here's some guidance on the amount, source and location of those liquid reserves, according to the Bucket approach to retirement portfolio planning.

WORDS: 678 - MOVED: 08/05/2025 6:00 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:6f096ec105ae4b27c059b28679713fb5&mediaType=text

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EU--RUSSIA-OIL-BUYERS

A look at the top buyers of Russian oil as Trump pressures China and India to stop buying it

SUMMARY: U.S. President Donald Trump is urging China and India to stop buying oil from Russia. He aims to pressure Russian President Vladimir Putin into agreeing to a ceasefire in Ukraine. However, cheap Russian oil is beneficial to refineries in these countries, and they show no signs of stopping. China, India and Turkey are the largest buyers of Russian oil since the EU boycotted most Russian seaborne oil in January 2023. Despite sanctions, Russia continues to earn substantial oil revenues, with predictions of $153 billion this year. These imports support Russia's economy and military capabilities.

WORDS: 396 - MOVED: 08/05/2025 4:19 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:f377653aebf6d5a34a09a7466d85fd56&mediaType=text

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AS--AUSTRALIA-JAPAN FRIGATE

Australia selects Japan's Mitsubishi Heavy Industries for $6.5B warship deal

WORDS: 497 - MOVED: 08/05/2025 12:44 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:2300e38f5eed463018446019048ec979&mediaType=text

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LT--MEXICO-US-SCREWWORM-RANCHERS

Mexican ranchers struggle to adapt as a tiny parasite ravages their cattle exports to the US

WORDS: 866 - MOVED: 08/05/2025 12:09 a.m. EDT

https://newsroom.ap.org/home/search?query=itemid:c16e84d2474ff0390fd9927fdba233f3&mediaType=text

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