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By MATT OTT, AP Business Writer

WASHINGTON (AP) — U.S. applications for unemployment benefits fell last week as layoffs remain at historically low levels.

The number of Americans filing for jobless aid for the week ending Feb. 14 fell by 23,000 to 206,000 from the previous week, the Labor Department reported Thursday. That’s significantly fewer than the 225,000 new applications that analysts surveyed by the data firm FactSet had forecast.

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Filings for unemployment benefits are viewed as representative of U.S. layoffs and are close to a real-time indicator of the health of the job market. read more

By PAUL WISEMAN, AP Economics Writer

WASHINGTON (AP) — The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries. But the gap in the trade of goods such as machinery and aircraft — the main focus of Trump’s protectionist policies — hit a record last year despite sweeping import taxes.

Overall, the gap the between the goods and services the U.S. sells other countries and what it buys from them narrowed to just over $901 billion, from $904 billion in 2024, but it was still the third-highest on record, the Commerce Department reported Thursday.

Exports rose 6% last year, and imports rose nearly 5%.

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By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks fell Thursday, while oil prices rose with worries about a potential conflict between the United States and Iran.

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The S&P 500 slipped 0.3% for its first loss in four days. The Dow Jones Industrial Average dropped 267 points, or 0.5%, and the Nasdaq composite slipped 0.3%.

Booking Holdings dropped 6.1% for one of the market’s sharper losses, even though the company behind the Booking.com, Priceline and OpenTable brands reported a profit for the latest quarter that edged past analysts’ expectations. read more

By CHRISTOPHER RUGABER, Associated Press

WASHINGTON (AP) — Many Federal Reserve officials want to see inflation fall further before they would support additional interest rate cuts this year, particularly if the job market continues to stabilize, minutes of last month’s meeting show.

The “vast majority” of the 19 participants on the Fed’s rate-setting committee said that there were signs the job market has stabilized, after the unemployment rate rose in late 2025, the minutes said. And most of the officials agreed that the Fed’s key rate is close to a level that neither stimulates nor restrains the economy. The minutes were released Wednesday, three weeks after the central bank’s Jan. 27-28 meeting.

Fed officials at that meeting agreed to keep its key rate steady at about 3.6%, after cutting it three times late last year. Two officials — Fed governors Stephen Miran and Christopher Waller — voted instead to cut another quarter-point.

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Grandson of the inventor of Reese’s Peanut Butter Cups accuses Hershey of cutting corners read more

By DEE-ANN DURBIN, Associated Press

The grandson of the inventor of Reese’s Peanut Butter Cups has lashed out at The Hershey Co., accusing the candy company of hurting the Reese’s brand by shifting to cheaper ingredients in many products.

Hershey acknowledges some recipe changes but said Wednesday that it was trying to meet consumer demand for innovation. High cocoa prices also have led Hershey and other manufacturers to experiment with using less chocolate in recent years.

Brad Reese, 70, said in a Feb. 14 letter to Hershey’s corporate brand manager that for multiple Reese’s products, the company replaced milk chocolate with compound coatings and peanut butter with peanut crème.

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