Business News

Buster Barker
March 19, 2025
Teresa Ann Eldreth
March 20, 2025
Buster Barker
March 19, 2025
Teresa Ann Eldreth
March 20, 2025
Business News

AP-Summary Brief-Business

March 19, 2025

Key rate unchanged

WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though more policymakers forecast fewer cuts. The Fed also now expects the economy to grow slowly this year and next than it did three months ago, according to a set of quarterly economic projections also released Wednesday. Policymakers also expect inflation will pick up slightly by the end of this year, to 2.7% from its current level of 2.5%. Bother are above the central bank’s 2% target.

Stock market today: Wall Street rallies as pressure eases from the bond market after Fed decision

NEW YORK (AP) — U.S. stocks climbed after the Federal Reserve said the economy still looks healthy enough to keep interest rates where they are. The S&P 500 jumped 1.1% Wednesday. The Dow Jones Industrial Average added 383 points, and the Nasdaq composite rose 1.4%. Wall Street also got a boost from easing yields in the bond market as expectations rose for the Fed to deliver as many as three cuts to its main interest rate by the end of the year. The yield on the 10-year Treasury dropped to 4.24% after the Fed also announced a move that could help keep longer-term yields lower.

European Union lays out how Apple must open its tech up to competitors under bloc’s digital rules

LONDON (AP) — The European Union on Wednesday outlined that steps that Apple must take to open up its iPhone and iPad operating systems to work better with competing technologies. It’s the first time it has moved to compel a technology company to comply with the bloc’s digital rulebook, known as the Digital Markets Act. The 27-nation bloc’s executive Commission had opened two “specification proceedings” last year to lay out the steps Apple needed to comply with the sweeping rulebook, also known as the DMA, which took effect last year.

Controversial insider account by former Meta official has strong first-week sales

NEW YORK (AP) — A former Meta official’s explosive insider account sold 60,000 copies in its first week and reached the top 10 on Amazon.com’s best-seller list amid efforts by the social media giant to discredit the book. Released last week by Flatiron Books, Sarah Wynn-Williams’ “Careless People” alleges cruel and otherwise disturbing behavior by Mark Zuckerberg, Joel Kaplan and other executives and describes Zuckerberg’s alleged efforts to win favor with Chinese officials. Meta has countered that Wynn-Williams, a former director of global public policy who left what was then Facebook in 2017, violated a severance agreement and wrote a book filled with inaccuracies.

Ben & Jerry’s alleges parent company Unilever removed its CEO over social activism

Ben & Jerry’s says its CEO was unlawfully removed by its parent company, Unilever, in retaliation for the ice cream maker’s social and political activism. In a federal court filing late Tuesday, Ben & Jerry’s said Unilever informed its board on March 3 that it was removing and replacing Ben & Jerry’s CEO David Stever. Ben & Jerry’s said that action violated its merger agreement with Unilever, which states that any decision regarding a CEO’s removal must follow a consultation with an advisory committee from Ben & Jerry’s board. Unilever acquired Ben & Jerry’s in 2000. The marriage of the London-based company and the progressive brand based in Vermont hasn’t been a happy one lately.

Delaware’s status as corporate capital might be on the line in a fight over shareholder lawsuits

HARRISBURG, Pa. (AP) — Delaware is trying to protect its status as the corporate capital of the world amid fallout from a judge rejecting billionaire Elon Musk’s landmark compensation package from Tesla. A Delaware House committee voted Wednesday to advance legislation that Gov. Matt Meyer says will ensure Delaware remains the premier home for businesses to incorporate. Lawmakers are being warned that Delaware-based corporations might flee elsewhere, as Tesla has done. Backers say it’ll maintain balance between corporate officers and shareholders. Institutional investors and asset managers say it’ll lower corporate governance standards and limit the ability to hold corporate officers accountable.

Trump suggests to Zelenskyy that the US should take ownership of Ukrainian power plants for security

KYIV, Ukraine (AP) — President Donald Trump has suggested to Ukrainian President Volodymyr Zelenskyy that the U.S. should take ownership of Ukrainian power plants to ensure the critical facilities’ security. According to a White House statement, Trump told Zelenskyy during a call Wednesday that the U.S could be “very helpful in running those plants with its electricity and utility expertise.” Trump added that “American ownership of those plants could be the best protection for that infrastructure.” The idea was floated even as the Trump administration looks to finalize an agreement to gain access to Ukraine’s critical minerals as partial repayment for U.S. support for Ukraine during the war. Wednesday’s call, which both sides say went well, comes weeks after Zelenskyy’s disastrous White House visit.

Europe and Canada are eyeing alternatives to American-made fighter jets. Here’s why

BERLIN (AP) — Questions are mounting in Canada and in Europe over whether big-ticket purchases of high-end U.S. weaponry are still a wise strategic choice. Western countries are worried about their investment in U.S. defense technology. U.S. President Donald Trump has upended decades of U.S. foreign policy in less than two months. That could impact foreign sales of the F-35 Joint Strike Fighter and other advanced U.S. jets like the F-16. Some countries are now rethinking tying their defense to U.S. made systems and potentially considering European jets as alternatives.