AP Business SummaryBrief at 11:41 p.m. EDT

Trump fires 2 Democrats on the Federal Trade Commission, seeking more control over regulators

WASHINGTON (AP) — President Donald Trump has fired two Democratic members of the Federal Trade Commission, intensifying efforts to exert his administration’s control over independent agencies across the government. Commissioners Alvaro Bedoya and Rebecca Kelly Slaughter said they’d been dismissed illegally and planned to sue. Removing them may free up more space on the five-member FTC for new commissioners loyal to the White House and its policies. The FTC is a regulator that enforces consumer protection measures and antitrust legislation. Its seats are typically comprised of three members of the president’s party and two from the opposing party. Commissioners are appointed by the president and confirmed by the Senate. They serve staggered, seven-year terms.

The $300 billion question: What to do with Russia's frozen central bank money?

FRANKFURT, Germany (AP) — With U.S. support for Ukraine in doubt, Kyiv’s European allies are weighing whether to seize $300 billion in frozen Russian assets. Some of Ukraine’s allies have argued for seizing the money and using it to compensate Ukraine, support its military and rebuild. But so far the Group of Seven democracies have held off. Opponents of seizure warn that the move could violate international law and destabilize financial markets. They also fear that countries and investors would hesitate to use European financial institutions if they are afraid assets could be seized. That could undermine the euro’s role as an international currency for state reserves.

Vancouver International Auto Show removes Tesla, citing safety concerns at event

VANCOUVER, British Columbia (AP) — Tesla has been removed from participating in this week’s Vancouver International Auto Show over safety concerns. The event’s executive director says the show asked the electric carmaker to withdraw because of a “primary concern” for the safety of workers, attendees and exhibitors. Nicholl says Tesla was provided “multiple opportunities to voluntarily withdraw.” The automaker’s removal comes after so-called “Tesla Takedown” protests on the weekend, including in Ottawa and Vancouver, that denounced Tesla CEO Elon Musk and his role advising U.S. President Donald Trump, who has infuriated Canadians with talk of making Canada the 51st U.S. state.

China's BYD launches EV charging system it says works nearly as fast as a fill up

BANGKOK (AP) — China's energy and auto giant BYD has announced a super fast EV charging system that it says is nearly as quick as a fill up at the pumps. BYD said its flash-chargers can provide a full charge for its latest EVs within five to eight minutes. Charging times and limited ranges have been a major factor constraining the switch from gas and diesel vehicles to EVs. BYD says it will roll out its new charging system across China. The news gave Tesla a jolt on Monday, as its share price sank 4.8%. BYD, which stands for build your dreams, began pre-sales of its Han L and Tang L models, which are upgraded versions of earlier models.

Google to buy cybersecurity firm Wiz for $32 billion in the biggest deal in company's history

SAN FRANCISCO (AP) — Google has struck a deal to buy cybersecurity firm Wiz for $32 billion in what would be the tech giant’s biggest-ever acquisition at the same time it’s facing a potential breakup of its internet empire. The proposed takeover announced Tuesday is part of Google’s aggressive expansion into cloud computing during an artificial intelligence boom. The frenzy is driving demand for data centers that provide the computing power for AI technology and intensifying the competition in that space among Google and two other tech powerhouses, Microsoft and Amazon. If the all-cash transaction is approved by regulators, Wiz will join Google Cloud next year.

Stock market today: Back down goes Wall Street as Big Tech resumes its slide

NEW YORK (AP) — Wall Street swung back down, and its former superstars once again led the way. The S&P 500 lost 1.1% Tuesday for its latest swerve in a jarring, weekslong ride. The Dow Jones Industrial Average dropped 0.6%, and the Nasdaq composite tumbled 1.7%. Tesla and stocks in the artificial-intelligence industry were again some of the heaviest weights on the market. They've been among the hardest hit in Wall Street's recent sell-off caused by uncertainty created by President Donald Trump's trade war. Treasury yields slipped ahead of the Federal Reserve's announcement on interest rates coming Wednesday.

Nvidia CEO Jensen Huang unveils new Rubin AI chips at GTC 2025

Nvidia founder Jensen Huang kicked off the company’s artificial intelligence developer conference, on Tuesday by telling a crowd of thousands that AI is going through “an inflection point.” Huang said demand for GPUs from the top four cloud service providers is surging, adding that he expects Nvidia’s data center infrastructure revenue to hit $1 trillion by 2028. He also announced that car maker GM would integrate Nvidia technology in its new fleet of self-driving cars.

Tariffs on lumber and appliances set stage for higher costs on new homes and remodeling projects

Shopping for a new home? Ready to renovate your kitchen or install a new deck? You’ll be paying more to do so. The Trump administration’s tariffs on imported goods from Canada, Mexico and China — some already in place, others set to take effect in a few weeks — are already driving up the cost of building materials used in new residential construction and home remodeling projects. The tariffs are projected to raise the costs that go into building a single-family home by $7,500 to $10,000, by some estimates. The timing of the tariffs couldn’t be worse for homebuilders and the home remodeling industry, as this is typically the busiest time of year for home sales.

Breweries and maple syrup producer among Vermont businesses hit by Trump's tariffs on Canada

NEWPORT, Vt. (AP) — Business owners from both sides of the U.S.-Canada border have gathered in Vermont to share their experiences with the sweeping tariffs imposed by the Trump administration. The 18 participants in Tuesday's roundtable discussion included breweries, a maple syrup producer, a furniture company, an electrical company and a ski resort. The event was hosted by Sen. Peter Welch, a Vermont Democrat, and featured Marie-Claude Bibeau, a Canadian member of parliament. Welch says he is disturbed by Trump’s actions that have affected a long stable and valuable relationship.

Patient dies following muscular dystrophy gene therapy, Sarepta reports

WASHINGTON (AP) — A patient has died while taking a closely watched gene therapy for muscular dystrophy. Sarepta Therapeutics announced the death Tuesday morning, sending the company's shares plummeting in morning trading. Sarepta says the young man died of acute liver injury, a known side effect of the therapy. But the company says the severity of the patient’s case had not previously been seen. It’s the first known patient death with the therapy, which has been used in more than 800 patients. The therapy was approved in 2023 despite concerns from some Food and Drug Administration’s scientists about its effectiveness.