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.
--------------------
NEW AND DEVELOPING
--------------------
US--PEPSICO-ELLIOTT-STAKE
Activist investor takes a $4 billion stake in PepsiCo, seeing a path to revive sales
SUMMARY: Activist investor Elliott Investment Management is taking a $4 billion stake in PepsiCo, saying there's an opportunity to turn the beverage company around. In a letter to PepsiCo's board, Elliott said that the company is being hurt by a lack of strategic clarity, decelerating growth and eroding profitability in its North American food and beverage businesses. But the firm still believes in PepsiCo's potential, particularly noting its growing international business.
WORDS: 354 - MOVED: 09/02/2025 10:28 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:a35e7a8392846827f5b15cc5d71feda6&mediaType=text
___
FINANCIAL MARKETS
Wall Street pulls further from its records under the weight of pressure from the bond market
SUMMARY: Wall Street is pulling further from its records, ground down by tightening pressure from the bond market. The S&P 500 sank 0.9% after falling as much as 1.4% early Tuesday. The Dow Jones Industrial Average dropped 305 points, and the Nasdaq composite lost 1.1%. Nvidia and other companies that have benefited from the frenzy around artificial-intelligence technology were some of the heaviest weights on the market. The overall stock market was feeling pressure from rising yields in the bond market. When bonds are paying more in interest, investors are less willing to pay high prices for stocks.
WORDS: 768 - MOVED: 09/02/2025 10:24 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:418330719b7ad3d80d4d30fbcc92fa1c&mediaType=text
___
US--PHILANTHROPY-ELEVATE-STORYTELLING
Nonprofits face a tough funding landscape. They hope better storytelling will bring more donations
SUMMARY: Nonprofits are increasingly using storytelling to connect with donors. Cindy Eggleton, CEO of Brilliant Cities, participated in the "Nevertheless: The Women Changing the World" documentary series to honor her late mother. The series, produced by Elevate Studios, has gained over 3 million views on YouTube. Lance Gould, founder of Brooklyn Story Lab, highlights the importance of storytelling in reaching the right audience. Nicole Bronzan from the Council on Foundations emphasizes transparency in storytelling to build trust. Brilliant Cities saw increased donations after Eggleton's episode aired, demonstrating storytelling's impact on fundraising.
WORDS: 1076 - MOVED: 09/02/2025 10:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:6e8715f2a614cb023c1b447c45524263&mediaType=text
___
US--KRAFT HEINZ-SPLIT
Kraft Heinz breaks up with changing consumer tastes and little appetite for big food companies
SUMMARY: Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
WORDS: 794 - MOVED: 09/02/2025 9:53 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:79a6fe0491da98bcda8c77a8227994c3&mediaType=text
___
ENT--VOGUE-ANNA WINTOUR
Anna Wintour taps Chloe Malle as Vogue successor -- but she's still in charge
SUMMARY: Anna Wintour has named Chloe Malle as her successor as head of editorial content at American Vogue, ending weeks of speculation. However, she remains the chief content officer for parent company Condé Nast and global editorial director of Vogue's nearly 30 editions around the globe. The new appointee announced Tuesday will take over much of the day-to-day operations at the U.S. edition of the magazine but will report to Wintour. Wintour's title of editor-in-chief is being retired. She will continue to oversee various other brands as well and remain involved in major events like the Met Gala. Malle is the daughter of actor Candice Bergen and the late French director Louis Malle.
WORDS: 1045 - MOVED: 09/02/2025 9:08 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:ebc07119ab27b82d599bb856baabafb0&mediaType=text
___
US--BOEING-JUSTICE DEPARTMENT
Crash victims' families prepare to make what could be their final plea for Boeing's prosecution
SUMMARY: Families that lost loved ones in two crashes of Boeing 737 Max jetliners may be getting their last chance to demand the American aerospace company's criminal prosecution. A federal judge in Texas is set to hear arguments Wednesday on a Department of Justice motion to dismiss a felony charge against Boeing. The Justice Department revived the conspiracy charge last summer in connection with the crashes that killed 346 people off the coast of Indonesia and in Ethiopia. Although Boeing agreed to plead guilty, a Texas judge opposed certain aspects of the aircraft maker's plea agreement in December. Prosecutors came back with a new agreement that took the charge and the plea off the table.
WORDS: 1062 - MOVED: 09/02/2025 7:42 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:65b71e3304bc5ec21e060b0cbe76096c&mediaType=text
___
US--MCDONALD'S-VALUE MENU
Coming price cuts at McDonald's may signal a broader fast food price war
SUMMARY: McDonald's is cutting prices on some combo meals to woo back customers who've been turned off by the rising costs of grabbing a fast food meal. Starting Sept. 8, McDonald's will offer Extra Value Meals, which combine select entrées like a Big Mac or an Egg McMuffin with medium fries or hash browns and a drink. Prices will vary by location, but McDonald's said Extra Value Meals will cost 15% less than ordering each of those items separately. McDonald's and other fast-food companies have been losing lower-income customers after years of prices increases. That could lead to more U.S. fast food deals this fall.
WORDS: 565 - MOVED: 09/02/2025 7:40 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:9b99f13e71210c27168aa3d7efdf0ec0&mediaType=text
___
AS--JAPAN-SUNTORY-RESIGNATION
Top Japanese beverage giant Suntory's chief resigns as he faces a drug probe
SUMMARY: Takeshi Niinami, a Japanese business leader and CEO of beverage giant Suntory, has resigned as he is facing an investigation into his alleged possession of an illegal drug. Suntory Holdings President Nobuhiro Torii announced the resignation on Tuesday, saying the company had accepted Niinami's decision. Torii did not specify the drug or the circumstances, noting the investigation was still underway. Niinami became CEO of Suntory in 2014 and has won praise for the company's performance. Torii expressed respect for Niinami's leadership but said the resignation was necessary due to governance issues. Suntory officials suggested the drug might have been a supplement Niinami acquired personally.
WORDS: 345 - MOVED: 09/02/2025 6:15 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:0dd341f3206dfb8103d471a8d47c9fd0&mediaType=text
___
US--POWERBALL-JACKPOT
Powerball jackpot rises to an estimated $1.3 billion after no winning ticket sold
SUMMARY: The Powerball jackpot has risen to an estimated $1.3 billion after the winning numbers failed to appear. The numbers drawn Monday night were 8, 23, 25, 40, 53 with the Powerball 5. There have been no jackpot winners since May 31. That long winless streak has allowed the prize to swell to the fifth-largest in the game's history. The $1.3 billion jackpot is for winners who opt for an annuity. Most people prefer cash and that value is now $589 million. The odds of matching all six numbers are astronomical: 1 in 292.2 million.
WORDS: 223 - MOVED: 09/02/2025 2:44 a.m. EDT
https://newsroom.ap.org/home/search?query=itemid:95539223d7f227cb314c256c72f67932&mediaType=text
___
