PBS, NPR stations struggle with Trump-fueled government funding cuts

NEW YORK (AP) — A month after Congress voted to strip public media of public money, PBS and NPR stations are working to cope — and survive. More than 500 radio and television stations are affected, and while some have issues in common, most have problems and strategies unique to their own area. For example, the PBS station in Spokane, Washington, has turned to viewers for emergency donations, but a significant part of their membership is from Canada, and many are already angry with the U.S. because of President Donald Trump's drive to make the country the 51st state. Many stations are heartened by the way viewers are responding, and different ideas to save money are emerging.

How the Fed losing its independence could affect Americans’ everyday lives

WASHINGTON (AP) — President Donald Trump’s attempt to fire a member of the Federal Reserve’s governing board has raised alarms among economists and legal experts who see it as the biggest threat to the central bank’s independence in decades. The consequences could impact most Americans’ everyday lives. Economists worry that a loyal Fed that sharply cuts short-term interest rates could result in higher inflation and, over time, higher borrowing costs for things like mortgages, car loans and business loans. Trump is trying to fire Fed governor Lisa Cook over mortgage fraud allegations. She has filed a lawsuit seeking to block her firing.

Asian shares are mixed as reports show a marginally improved factory outlook for China

BANGKOK (AP) — Asian shares are mixed, with Chinese benchmarks gaining after surveys showed a slight improvement in Chinese factory data. Hong Kong's Hang Seng jumped 2%, while Japan's Nikkei 225 index fell 1.6%, tracking Friday's losses on Wall Street. Surveys showed a meager improvement suggesting that Chinese manufacturing is holding up despite higher U.S. tariffs on goods from many countries. On Friday, the S&P 500 fell 0.6% and the Dow industrials 0.2%. The Nasdaq composite fell 1.2%. The U.S. government said prices mostly held steady last month. The latest data showed inflation holding steady while consumer sentiment deteriorated. U.S. markets are closed on Monday for the Labor Day holiday.

The success of AI music creators sparks debate on future of music industry

LONDON (AP) — Oliver McCann, a British AI music creator, uses AI to produce songs across various genres. Despite lacking musical talent, McCann signed with Hallwood Media after one of his tracks gained 3 million streams. The rise of AI tools like Suno and Udio has sparked debate about AI's role in music. Experts say AI is set to transform the industry, though its impact on the global music market remains unclear. AI-generated music is growing, but it faces legal challenges over copyright. Creators hope AI will become a mainstream part of the music world.

What happens to Trump’s tariffs now that a federal appeals court has knocked them down?

WASHINGTON (AP) — President Donald Trump has audaciously claimed virtually unlimited power to bypass Congress and impose sweeping taxes on foreign products. Now a federal appeals court has said: Not so fast. The U.S. Court of Appeals for the Federal Circuit ruled Friday that Trump went too far when he declared national emergencies to justify imposing sweeping import taxes on almost every country on earth. The ruling largely upheld a May decision by a specialized federal trade court in New York. But the 7-4 appeals court decision tossed out a part of that ruling striking down the tariffs immediately, allowing his administration time to appeal to the U.S. Supreme Court.

Court finds Trump's tariffs an illegal use of emergency power, but leaves them in place for now

WASHINGTON (AP) — A federal appeals court has ruled President Donald Trump illegally used emergency powers to impose sweeping tariffs but left them in place for now. The U.S. Court of Appeals for the Federal Circuit ruled Friday that Trump wasn’t legally allowed to declare national emergencies and impose import taxes on almost every country on earth, largely upholding a May decision by a specialized federal trade court in New York. But the court tossed out a part of that ruling, striking down the tariffs immediately and allowed his administration time to appeal to the Supreme Court.

Fed governor Cook seeks court order blocking her firing by Trump

A case that could provide the Trump administration with new and expansive power over the traditionally independent Federal Reserve got its first court hearing Friday. Federal Reserve Governor Lisa Cook has requested an emergency injunction to block President Donald Trump’s attempt to fire her over allegations that she committed mortgage fraud when she purchased a home and condo in 2021. She was appointed to the Fed’s board by former president Joe Biden in 2022. If her firing is allowed to stand, it would likely erode the Fed’s longstanding independence from day-to-day politics. No president has ever fired a Fed governor in the agency’s 112-year history.

Key US inflation gauge holds mostly steady though core inflation ticks higher

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased. Prices rose 2.6% in July compared with a year ago, the Commerce Department said Friday, the same annual increase as in June. The figures illustrate why many officials at the Federal Reserve have been reluctant to cut their key interest rate. While inflation is much lower than the roughly 7% peak it reached three years ago, it is still running noticeably above the Fed’s 2% target.

Stocks pull back from their latest all-time highs on Wall Street

Stocks lost ground on Wall Street a day after the market hit its latest all-time highs. The S&P 500 fell 0.6% Friday. The index ended August up 1.9%, its fourth straight month of gains. The Dow Jones Industrial Average fell 92 points, or 0.2%. The Nasdaq composite fell 1.2%. Treasury yields were mixed in the bond market. The government said prices mostly held steady last month. European markets were mostly lower and Asian markets closed mixed. U.S. markets will be closed on Monday for the Labor Day holiday.

Duty-free no more: Parcels worth under $800 no longer qualify for a US tariff exemption

NEW YORK (AP) — Low-value imports no longer are eligible to enter the U.S. duty-free. An order signed by President Donald Trump eliminated a widely used customs exemption for international shipments worth $800 or less as of 12:01 a.m. Eastern time on Friday. The national postal services of more than 30 countries have temporarily suspended sending some or most U.S.-bound packages because of the change. They say they didn't have enough time or information to prepare for collecting the new import taxes on small parcels. Logistics experts say that in addition to bringing new costs for sellers and buyers, the end of the “de minimis” exception is likely to delay orders.