peel back effect

AP Business SummaryBrief at 6:40 a.m. EDT

Posted 9/24/26

Trump and Xi Jinping head into Washington summit with both leaders thinking time is on their side

WASHINGTON (AP) — Presidents Donald Trump and Xi Jinping have a packed agenda for their talks …

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AP Business SummaryBrief at 6:40 a.m. EDT

Posted

Trump and Xi Jinping head into Washington summit with both leaders thinking time is on their side

WASHINGTON (AP) — Presidents Donald Trump and Xi Jinping have a packed agenda for their talks at the White House. The leaders on Thursday are tackling issues like trade irritants, artificial intelligence safeguards, and the war in Iran. Trump wants China to use its influence with Iran, while Xi seeks a halt to U.S. arms sales to Taiwan. A fragile trade truce had been set to expire in November, but the two countries agreed Wednesday to extend it for two months. Trump faces midterm elections, and Xi is dealing with a sluggish economy. Despite tensions, both leaders aim to avoid conflict. Any big breakthroughs in the relationship seem unlikely, but both sides are keen to maintain stability.

Senators to question FDA nominee about her views on abortion pill and vaccines

WASHINGTON (AP) — President Donald Trump’s pick to run the Food and Drug Administration will face questions from Senate lawmakers considering her nomination. Thursday’s hearing is likely to focus on Dr. Heidi Overton’s views on vaccines and abortion drugs. Both have come under new scrutiny at the FDA under Trump and Health Secretary Robert F. Kennedy Jr. Overton is a physician and top White House aide with longstanding ties to Trump and his administration. Overton is an outspoken abortion critic and would oversee an ongoing FDA review of mifepristone, the nation's leading abortion pill.

Gulf nations have found ways to keep oil flowing through the Iran war, but the costs are mounting

FRANKFURT, Germany (AP) — When Iran shut down the Strait of Hormuz at the start of the war, many feared that prices would skyrocket, cratering the world economy. Instead, nearly seven months on, oil is expensive but not exorbitant. Analysts say there’s enough oil available to meet current global needs, even as the higher prices cause political problems for U.S. President Donald Trump and others. That’s because Saudi Arabia and other Gulf producers quickly found alternative routes and reached for unused pipeline capacity. When Iran and its militant allies targeted those, the oil exporters and the U.S. military found still other ways in an often clandestine game of whack-a-mole. But the workarounds are expensive and may not be sustainable.

Global shares mostly lower as oil rises and markets await Trump-Xi talks

TOKYO (AP) — Global shares are trading mostly lower as investors took in the recent swings in oil prices and the U.S. bond market. Benchmarks declined in early Thursday trading in France, Germany and Britain. U.S. shares were set to drift lower with Dow future and S&P 500 futures slipping. In Asia, Japan's benchmark rose, but shares fell in Sydney, Hong Kong and Shanghai. Trading was closed in South Korea for the Chuseok autumn harvest holiday. Oil prices rose, remaining well above the cost before the war with Iran began. Investors are also watching for what might come of the talks between Presidents Donald Trump and Xi Jinping.

Autonomous AI hacks raise thorny questions of legal accountability

WASHINGTON (AP) — The Justice Department has a long history of investigating and prosecuting hackers who break into a private company’s network. But what happens when the hackers aren’t human? That’s the question at the center of a public policy debate roiling Silicon Valley and Washington following disclosures by leading tech companies that their artificial intelligence models went rogue and hacked into other organizations. The attacks have generated calls even from within the industry for a slowdown in AI development and greater government oversight. The attacks have spurred congressional inquiries and raised questions about whether a years-old legal framework designed to punish criminal hackers is sufficient in an era of autonomous actors capable of engineering their own havoc.

One Tech Tip: iOS 27 comes with revamped screen time controls and other useful new features

Apple's latest operating system, iOS 27, introduces a more advanced Siri assistant and several new features for iPhone users. The update, available for devices from the iPhone 11 onward, includes faster app loading and improvements powered by Apple Intelligence. However, some features are only available on newer models like the iPhone 16 and iPhone 15 Pro. A new Siri AI app is initially in beta, requiring users to join a waitlist. Notable features include Safari's Notify Me, which alerts users to webpage changes, and AI-powered photo editing tools. Enhanced screen time controls offer more flexibility for parents managing their children's device usage.

Hundreds of trucks jam Turkey-Iran border crossing as US blockade pushes trade overland

GURBULAK BORDER CROSSING, Turkey (AP) — Iran faces a critical economic challenge as a U.S. naval blockade of its ports has forced a surge in overland trade through Turkey and Pakistan. Iranian President Masoud Pezeshkian has emphasized the need to increase overland traffic, but the shift has led to long delays and increased costs for drivers. Truckers report waiting days to cross the border, while rising fuel prices and inflation further squeeze their low incomes. Iran's economy has shrunk significantly since the war, and added U.S. sanctions are adding pressure. Both Iran and its neighbors say they are taking measures to speed up border crossings.

Meta bets big on wearable AI, new AI agent as Zuckerberg pushes back against AI doom

Meta is diving into AI with new wearable devices and an AI agent called Muse. At the company's annual Connect conference, CEO Mark Zuckerberg emphasized optimism about AI's future. He distanced Meta from calls to slow AI development, arguing for empowering people. Meta introduced updates to its AI glasses with a new generation that have slimmer designs and longer battery life. The company also unveiled lighter VR glasses, set for a 2027 release. New audio glasses, Ray-Ban Meta Audio, will launch in October. Meta also said it plans to integrate its recently launched AI agent Muse into its AI glasses lineup.

US will make up to $7 billion in loans to help Trump ally Milei tap Argentina’s oil and minerals

BUENOS AIRES, Argentina (AP) — The Trump administration wants to put billions of dollars into Argentina’s energy and mining industries. It announced plans Wednesday to make up to $7 billion available for loans to projects through next year. The money would help companies buy American equipment and hire U.S. contractors to build railways, pipelines and ports. Washington wants energy and critical minerals closer to home and less reliance on China, while Argentine President Javier Milei, a close Trump ally, is counting on exports to revive the economy and bring in dollars. The plan would help connect Argentina’s mineral deposits and shale fields to ports on its Atlantic coast.

Morocco’s Authenticity and Modernity Party leads in provisional election results

CASABLANCA, Morocco (AP) — Provisional election results in Morocco show that the Authenticity and Modernity Party has won the largest number of seats in the country’s parliamentary election. The count released by the Interior Ministry on Thursday showed that the governing National Assembly of Independents or RNI suffering major losses while a moderate Islamist party made a strong comeback. Authenticity and Modernity or PAM won 97 of the 395 seats in the House of Representatives. The party was followed by the Independents with 66 and the Istiqlal Party with 65. Moderate Islamist party Justice and Development surged to 54 seats after winning just 13 in 2021.

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