AP Business SummaryBrief at 11:55 p.m. EDT

What's open and closed on Memorial Day

In what had long been celebrated every May 30 to honor America’s fallen soldiers, Memorial Day officially became a federal holiday in 1971, observed on the last Monday in May. Businesses increasingly have chosen to stay open on the holiday, leading to what is now one of the biggest retail sales and travel weekends of the year. Government offices, post offices and schools are closed, as is the stock market, banks and a handful of businesses. The vast majority of retailers will be open, with many trying to lure customers with big promotional sales. Hours may vary by location.

In one North Carolina county, it's 'growth, growth, growth.' But will Biden reap the benefit?

SILER CITY, N.C. (AP) — Just 81,000 people live in rural Chatham County in North Carolina, where there are more than 1,000 farms. But life is changing. The new Wolfspeed factory that overlooks I-64 will soon produce advanced wafers for computer chips. Automaker Vinfast is scheduled to open a factory next year. Both projects stem in large part from incentives that President Joe Biden signed into law. The Democrat has campaigned on how his policies helped pump hundreds of billions of dollars in private and federal investment into companies. But so far this election year, the investments haven’t significantly swayed a public concerned about inflation.

Walmart ends credit card partnership with Capital One, but shoppers can still use their cards

Walmart has ended a partnership with Capital One that made the banking company the exclusive issuer of Walmart’s consumer credit cards. The companies announced the change Friday. The companies said card holders can still use their Capital One Walmart Rewards cards, which will continue to accrue rewards unless customers are notified of a change. Walmart partnered with Capital One in 2019 but eventually soured on the deal. In 2023, Walmart sued Capital One, saying Capital One was taking too long to process payments and mail replacement cards. A federal judge ruled in March that Walmart could terminate the deal.

Stock market today: Asian shares mostly higher after rebound on Wall St

Asian shares are mostly higher after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week. Hong Kong's Hang Seng slipped but other benchmarks advanced. Taiwan led the gains, with heavy buying of computer chip-related shares pushing the Taiex up 1.3% to a fresh record. Oil prices also rose. On Friday, the S&P 500 gained 0.7% and the Dow Jones Industrial Average rose by less than 0.1%. The Nasdaq composite gained 1.1% to top its all-time high set earlier this week. Nvidia climbed again following its blowout profit report earlier this week to help push the market higher.

Nigeria is emerging as a critical mineral hub. The government is cracking down on illegal operations

ABUJA, Nigeria (AP) — Nigeria’s government is cracking down on illegal mining, making dozens of arrests of unlicensed miners since April for allegedly stealing the country’s lithium, a critical mineral used in batteries for electric vehicles, smartphones and power systems. The recent arrests come as Nigeria seeks to regulate its mining operations of critical minerals, curb illegal activity and better benefit from its mineral resources. Illegal mines are rife in the country’s fledging industry as corruption among regulatory officials is common and the mineral deposits are located in remote areas with minimal government presence. Officials say profits from illicit mining practices has helped arm militia groups in the north of the county.

G7 officials make progress but no final deal on money for Ukraine from frozen Russian assets

FRANKFURT, Germany (AP) — Finance officials from the Group of Seven rich democracies say they have moved toward agreement on a U.S. proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. But they left a final deal to be worked out ahead of a June summit of national leaders. The finance ministers said Saturday in a statement after meetings in Stresa, Italy, that they were “making progress” on a U.S. proposal to borrow against future interest income on the frozen assets to give Ukraine a large chunk of cash now. The last word will rest with the G7 national leaders, including U.S. President Joe Biden, next month at their annual summit in Fasano in southern Italy.

UAW files objection to Mercedes vote, accuses company of intimidating workers

MONTGOMERY, Ala. (AP) — The United Auto Workers on Friday accused Mercedes of interfering in last week's union election at two Alabama factories. The union filed an objection to the result with the National Labor Relations Board. The union accused the company of intimidating and coercing workers into voting against joining the union. The union accused the company of engaging in a “relentless antiunion campaign marked with unlawful discipline, unlawful captive audience meetings, and a general goal of coercing and intimidating employees.” Employees at Mercedes battery and assembly plants near Tuscaloosa voted 56% against the union

American Airlines drops law firm that said a 9-year-old girl should have seen camera on toilet seat

FORT WORTH, Texas (AP) — American Airlines is changing law firms after a controversial filing in a lawsuit brought by the family of a 9-year-old girl who was recorded using an airplane lavatory. A spokesperson for American confirmed the change in lawyers on Friday. A former flight attendant has been charged with recording young girls in plane bathrooms. Lawyers from the firm of Wilson Elser argued that the 9-year-old was negligent for not noticing that there was a camera phone taped to the seat in the lavatory. Her family is now suing American in state court in Austin, Texas.

Bird flu virus detected in beef from an ill dairy cow, but USDA says meat remains safe

Bird flu has been detected in beef for the first time, but the U.S. Department of Agriculture says the meat from a single sickened dairy cow was not allowed to enter the nation's food supply and beef remains safe to eat. The department made the announcement Friday. The virus has been found in dairy cattle in nine states and in milk. It has also prompted the slaughter of millions of chickens and turkeys. But its presence in beef is a new development for the outbreak, which began in 2022.

Despite surging demand for long-term care, providers struggle to find workers

Despite growing demand for long-term care, the industry struggles with labor shortages, and experts worry about whether there will be enough workers in the future to care for America’s aging population. Reporting from The Associated Press and CNHI News found the country's direct care workforce is predominantly made up of women and people of color, and they face low pay, the risk of injury and other challenges. These issues contribute to recruitment and retention problems. Experts point to insufficient Medicaid funding as one of the factors that have kept worker wages low.

The Associated Press