NEW YORK (AP) — After a week of promises to alter the policy, the U.S. Department of Commerce has rescinded a Biden-era rule due to take effect Thursday that placed limits on the number of artificial intelligence chips that could be exported to certain international markets without federal approval.

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“These new requirements would have stifled American innovation and saddled companies with burdensome new regulatory requirements,” the Commerce Department stated in its guidance.

The Biden administration had established the export framework in an attempt to balance national security concerns about the technology with the economic interests of producers and other countries. While the United States had already restricted exports to adversaries such as China and Russia, some of those controls had loopholes and the rule would have set limits on a much broader group of countries.

Commerce Undersecretary Jeffery Kessler said Tuesday that the Trump administration work to replace the now-rescinded rule.

“The Trump Administration will pursue a bold, inclusive strategy to American AI technology with trusted foreign countries around the world, while keeping the technology out of the hands of our adversaries.”

By YURI KAGEYAMA and MATT OTT, Associated Press Business Writers

Wall Street bounced between small gains and losses in meek trading early Wednesday ahead of the new retail sales numbers this week and any hints from Federal Reserve officials about the U.S. central bank’s future interest rate decisions.

Futures for the S&P 500 rose 0.2% before the bell, while futures for the Dow Jones Industrial Average were flat. Futures for the tech-heavy Nasdaq rose 0.4%.

There’s still some relief in markets after the U.S. and China agreed Monday to a 90-day pause in their trade war to allow for negotiations. How that pause will influence the Fed’s next interest rate decision remains cloudy.

In light of Tuesday’s data showing that inflation cooled for third straight month in April, Fed officials would have likely been leaning toward restarting interest rate cuts in the absence of tariffs. The fed cut its benchmark rate three times last year but has since frozen rates while it awaits further evidence of how the tariffs and other policy changes — such as immigration restrictions and potential tax cuts — affect the economy.

Investors and economists will be paying close attention to a public appearances by two Fed officials Wednesday, Fed governor Christopher Waller and Philip Jefferson, the Fed’s vice chair and a top lieutenant to Jerome Powell, followed by a speech by Powell himself at a conference in Washington on Thursday.

Also Thursday, the government reports its latest data on retail sales in the U.S. and Walmart, the world’s biggest retailer, reports quarterly earnings. Investors may be more interested in the retail giant’s forecast than its results as many companies withdraw their financial guidance for 2025 due to uncertainty over President Donald Trump’s tariffs.

American Eagle Outfitters became the latest retailer to do so late Tuesday, which sent its shares tumbling more than 14% before the opening bell Wednesday. The retailer said it would write down $75 million in spring and summer merchandise and that it expects first-quarter revenue to slide 5%, or more than $1 billion.

In Asian trading, Chinese markets rallied on expectations of another rush in export orders during the 90-day grace period for China-U.S. tariffs.

Hong Kong’s Hang Seng jumped 2.3% to 23,640.65, while the Shanghai Composite gained 0.9% to 3,403.95.

Chinese tech companies made big gains, with games and entertainment giant Tencent Holdings up 3%, search engine company Baidu up 4% and e-commerce giant Alibaba Group Holdings advancing 3.4%.

Japan’s benchmark Nikkei 225 lost 0.1% to finish at 38,128.13. Australia’s S&P/ASX 200 rose 0.1% to 8,279.60.

South Korea’s Kospi surged 1.2% to 2,640.57.

The relief over the trade truce between the U.S. and China is tepid among global businesses and investors given uncertainty over how long it might last and where tariffs might go in the months ahead.

The hope is that Trump will ease his stiff tariffs on trading partners worldwide before they create a recession and send inflation spiking higher.

In Europe at midday, France’s CAC 40 slipped 0.5%, while Germany’s DAX fell 0.4%. Britain’s FTSE 100 was essentially unchanged.

Benchmark U.S. crude fell 77 cents to $62.90 a barrel following a four-day rally. Brent crude, the international standard, declined 75 cents to $65.88 a barrel.

The U.S. dollar edged down to 146.02 Japanese yen from 147.21 yen. The euro cost $1.1225, up from $1.1188.

By Lebawit Lily Girma, Bloomberg News

Sterile hallways, basic options for food and shopping, no glimpse of the outside world: This is what we often think about U.S. airports.

But as outdated facilities turn into swanky terminals, spending more time at the airport has grown tolerable, if not moderately pleasant. Upgraded concession programs have made for better meals— both sit-down and grab-and-go — while credit card companies have vastly improved the airport lounge game, and you can even get robot manicures from the types of airport “spas” that were once limited to 10-minute chair massages.

Now a new chapter of airport enhancement is kicking off. U.S. airports coast to coast are lately adding all sorts of outdoor spaces for the general flying public to enjoy—regardless of airline status or seat assignment. They include post-security observation decks, open-air lounges and microbrewery-inspired drinking holes that let you relax a bit before boarding your next flight.

Matt Needham, who leads aviation projects for global design and architecture firm HOK, says the trend is a way for airlines to address the increased stress of air travel. Carriers are increasingly thinking about airports as part of their own customer experience, he says, so they’re also signing the checks for these outdoor chill zones. “It makes a difference,” he says, if you can get “a little bit of sunshine and some breeze in your hair before you have to get on that pressurized tube.”

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Needham is just one of the architects at the forefront of this trend. His team’s most recent projects include such spaces at Salt Lake City International Airport — where the Delta Sky Lounge has an open-air patio with fans and heaters — as well as at LaGuardia Airport’s Terminal B, where the new Capital One Landing lounge will feature an outdoor terrace when it opens later this year. Other firms, like Gensler, are also working on al fresco airport spaces across the country.

Currently, Needham is overseeing Monterey Airport’s new Terminal 1 in California, set to break ground this year and reach completion in late 2027. After travelers pass through its Transportation Security Administration lanes, they’ll find an outdoor terrace with views of the runways, which here are surrounded by towering Monterey pine trees.

But in some places, these outdoor spots can offer far more than a concrete terrace with runway views. In September, San Diego’s Terminal 1 is expected to unveil $3.8 billion in improvements that include a new terminal building, improved roadways, a parking plaza and — you guessed it — a giant outdoor terrace jointly created by Gensler and Turner-Flatiron. Its 5,000 square feet will be accessible from the new terminal’s food court, with a terrace, a complimentary lounge and an outdoor restaurant. And all of it will have sweeping views of San Diego’s harbor, downtown and the mountains to the east.

“If you were in a hotel room with that same view, that would be a $3,000-a-night penthouse suite,” says Terence Young, principal and design director at Gensler. “The sunlight, the sky, the view of the sunset over the masts of the boats — it’s pretty insane.”

Other designs are similarly taking into account a sense of place. By year’s end, four green terraces at Pittsburgh International Airport will evoke the woodsy landscapes of western Pennsylvania with more than 20 native and adaptive plant species such as Red Maple and Quaking Aspen trees. Their arrival comes with a new terminal, the focus of a $1.7 billion airport modernization project.

“We felt this biophilic design would be important for travelers as well as for staff,” says Christina Cassotis, chief executive officer at the airport.

Other major airports have added similar fresh air spaces in the past three years. They include the al fresco Nueces Brewing Bar at Corpus Christi International Airport in Texas, which serves specialty beers and cocktails, and a trio of decks at Denver International Airport — one in each concourse — all with fire pits, runway views and pet-friendly areas.

Given that airports tend to be tight on space and funding but replete with regulatory hurdles, there’s a limit to how far the trend can grow. But Young says airports are increasingly willing to fund these types of improvements for their staff as well as their passengers, especially as awareness grows around mental health and the needs of neurodivergent travelers.

Expect more greenery to make its way inside terminals too. Rooftop bars and outdoor terraces will soon be complemented by koi gardens and indoor greenhouses, say all the designers. Young even imagines farm-to-table airport dining, with the farm onsite. “And you could make it so that it is actually quiet,” he says, dreaming aloud, “even though you’re still at an airport.”

©2025 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

By MICHAEL R. SISAK and LARRY NEUMEISTER

NEW YORK (AP) — The R&B singer Cassie returns to the witness stand Wednesday after a day spent recounting grotesque and humiliating details of life with her ex-boyfriend, Sean “Diddy” Combs.

During her first day of testimony Tuesday at Combs’ sex trafficking trial, Cassie described being pressured into degrading sexual encounters with paid sex workers. She also recounted being beaten numerous times by Combs when she did things that displeased him — like smiling at him the wrong way.

Cassie Ventura takes an oath before testifying in Manhattan federal court, Tuesday, May 13, 2025, in New York. (Elizabeth Williams via AP)

“You make the wrong face and the next thing I knew I was getting hit in the face,” she said.

Cassie, whose legal name is Casandra Ventura, accused Combs of gaining her submission by threatening to publicly release videos of her with male sex workers.

Combs’ attorneys have acknowledged Combs could be violent but maintain that the sexual acts were consensual. They say nothing he did amounted to sex trafficking or racketeering — the charges that he faces.

Sean Diddy’Combs, far left, and attorney Marc Agnifilo, right, sit at the defense table during witness testimony in Manhattan federal court, Tuesday, May 13, 2025, in New York. (Elizabeth Williams via AP)

Lawyers for Combs have yet to cross-examine Cassie, a type of questioning that will give them an opportunity to challenge her credibility or poke holes in her accounts of what happened.

The trial is expected to last about two months.

Prosecutors have accused Combs of exploiting his status as a powerful music executive to violently force women into drugged-up sex parties he called “freak offs.”

Cassie met Combs in 2005, when she was 19 and just at the start of a career as a singer, model and actor. She had a hit song, “Me & U,” in 2006 off an album released by Combs’ Bad Boy Records.

Combs, who was 37 when they met, nurtured her career early on and also became her boyfriend for a decade.

Cassie left Combs’ record label in 2019 and then sued him in 2023, accusing him of years of physical and sexual abuse. She told jurors during her testimony Tuesday that there were loving moments during their relationship but that Combs was always controlling and often violent.

Cassie said she was 22 when Combs first asked her to do a “freak off,” with the first one occurring in his Los Angeles home with a male stripper that left her feeling dirty and confused, but relieved that Combs was happy.

“It was his fantasy,” she said. “He was controlling the whole situation. He was directing it.”

Combs, 55, has been jailed since September. He faces at least 15 years in prison if convicted.