AP Business Briefs - June 10, 2026

FDA OKs first new sunscreen ingredient in more than 25 years

WASHINGTON (AP) — Federal health regulators have signed off on the first new sunscreen ingredient for the U.S. market in more than 25 years. The announcement Tuesday by the Food and Drug Administration will give Americans access to a skin-protecting chemical long used in Europe. The FDA says the chemical, bemotrizinol, meets the agency's standards for protecting from dangerous sun rays while causing little irritation. It will initially be sold in the U.S. under the brand name Parsol Shield. Efforts to introduce new sunscreen products have long been delayed by the FDA's bureaucratic system for updating its list of safe drug ingredients

EU orders Meta to restore WhatsApp access for rival AI chatbots

LONDON (AP) — European Union regulators have ordered Meta Platforms to restore access to WhatsApp for rival AI chatbot makers. The decision comes as the EU's executive Commission investigates potential antitrust violations. The commission is imposing interim measures to prevent harm to competition in the growing AI assistant market. They began scrutinizing Meta's updated terms last year, concerned that third-party AI companies were blocked from offering their assistants on WhatsApp. Meta's attempt to charge rivals for access didn't satisfy regulators. They threatened in April to force the company to reinstate access for free.

US home sales surge to the fastest pace this year despite rising mortgage rates and prices

Sales of previously occupied U.S. homes accelerated last month to their fastest pace since December, a sharp turnaround in demand for the housing market after a lackluster start to the spring homebuying season. The National Association of Realtors said Tuesday that existing home sales rose 3.2% in May from the previous month to a seasonally adjusted annual rate of 4.17 million units. Sales also rose 3.2% compared to May last year. The latest sales figure topped the roughly 4.07 million pace economists were expecting, according to FactSet. The national median sales price increased 1.3% in May from a year earlier to $429,300.

OpenAI files confidential SEC paperwork for IPO, opening the door to a Wall Street debut

OpenAI has filed preliminary paperwork to potentially become a publicly traded company. The company announced Monday it has submitted confidential documents to the U.S. Securities and Exchange Commission. OpenAI says it hasn't decided on timing yet, as there are advantages to staying private. This move follows Anthropic's June announcement of its own IPO plans. Both companies are following SpaceX, which is also pursuing an IPO. OpenAI CEO Sam Altman mentioned last fall that an IPO was the "most likely path" due to the company's size and capital needs.