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BC-Business News Digest

November 9, 2018

Here are AP Business News’ latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan at newsroom.ap.org.

TOP STORIES:

TRUMP’S TAXES — Getting President Donald Trump’s tax returns is high on the list of Democratic priorities now that they have won the House. By law, the leaders of tax-writing committees in the House and Senate can obtain tax returns and related information from the Internal Revenue Service. Yet there’s no guarantee that the Trump administration will provide the president’s returns. That sets up the possibility of a legal battle that could take years to resolve. By Marcy Gordon. SENT: 1,260 words, photos.

CHINA-STOCK MARKET BLUES — The Chinese government is struggling, with limited success, to restore confidence in its stock market after a 30 percent price plunge. By Joe McDonald. SENT: 1,250 words, photos. First moved late Thursday.

FRANCE-PLANE IMPOUNDED — Ryanair pays 525,000 euros ($610,000) in subsidies back to French authorities in order to end a tarmac standoff that forced 149 passengers to disembark from an impounded plane. SENT: 150 words, photo. UPCOMING: Will be updated.

MARKETS & ECONOMY:

FINANCIAL MARKETS — US stocks are falling as crude oil prices are on track to drop for the 10th consecutive day, deepening a slump that began in early October. By Marley Jay. SENT: 930 words, photos. UPCOMING: Will be updated through 5 p.m.

PRODUCER PRICES — U.S. wholesale prices rose by the most in six years last month, led higher by more expensive gas, food, and chemicals. By Christopher Rugaber. SENT: 600 words, photos.

INDUSTRY:

KEYSTONE XL PIPELINE — Environmentalists are lauding a federal court order that blocks a Trump administration permit for the construction of the Keystone XL pipeline, pending an environmental review. By Matthew Daly. SENT: 480 words, photos.

MEDICARE-NEW BENEFITS — In a harbinger of potentially big changes for Medicare, seniors in many states will be able to get additional services such as help with chores, safety devices and respite for caregivers next year through private “Medicare Advantage” insurance plans. By Ricardo Alonso-Zaldivar. SENT: 930 words, photos.

CHINA-AUTO SALES — China’s auto sales sank for a fourth month in October as an unexpectedly painful slump in the global industry’s biggest market deepened. By Joe McDonald. SENT: 610 words, photos.

JAPAN-NAOMI OSAKA — Naomi Osaka used a powerful forehand and a matching serve to win the U.S. Open against Serena Williams. Off the court — on the marketing front — experts say she could have the same potential as Williams, and maybe more. By Yuri Kageyama. SENT: 800 words, photos.

UN-TOBACCO — Opponents of Big Tobacco say a decision by the International Labor Organization to stop accepting funds from the industry is a step in the right direction, but are urging the U.N.-backed agency to go further and “completely shut the door.” SENT: 140 words.

TECHNOLOGY & MEDIA:

HONG KONG-FINANCIAL TIMES — The Asia editor of the Financial Times has been refused entry to Hong Kong, weeks after he was denied a new work visa in what critics call an ominous sign of Beijing encroaching on the semi-autonomous Chinese territory’s civil liberties. SENT: 630 words, photos.

HALFWAY-TV RATINGS — After years of declines, NFL television ratings are showing modest gains. Three of the league’s television partners have shown increases after the first nine week of the season while one remains flat. That is welcome news after ratings decreased 9.7 percent last season and 8 percent in 2016. By Joe Reedy. SENT: 730 words, photos.

MEREDITH-FORTUNE SALE — Media and publishing giant Meredith Corp. says it is selling its Fortune brand for $150 million in cash to Fortune Media Group. SENT: 130 words.

PERSONAL FINANCE:

NERDWALLET-VETERANS-STUDENT RIGHTS — Veterans and active-duty service members who have student loans can access repayment benefits that may help them avoid default. These benefits include repayment options, loan forgiveness opportunities and a lower interest rate. By NerdWallet columnist Anna Helhoski. SENT: 800 words, photos.

INTERNATIONAL:

BRITAIN-ECONOMY — A spike in consumer spending driven by warm weather and England’s surprise advance to the semifinals of the soccer World Cup helped the British economy post its best growth in nearly two years during the third quarter, official figures showed. By Pan Pylas. SENT: 570 words.

BREXIT — A minister in the British government stepped down Friday to protest Prime Minister Theresa May’s Brexit plan and is backing calls for a second referendum on whether the country should leave the European Union. By Gregory Katz. SENT: 470 words, photos.

VIETNAM-CUBA — The leaders of Vietnam and Cuba on Friday pledged to deepen relations between two of the world’s few remaining communist countries. SENT: 300 words, photos.

BRAZIL-CORRUPTION — Brazilian police have arrested a former chairman of the world’s largest meatpacker whose testimony was central to allegations of corruption against the president. SENT: 370 words.

ITALY-ECONOMY — The head of one of Italy’s ruling parties insisted Friday that the country won’t exit the euro currency bloc nor exceed its targeted deficit limit, dismissing the European Union’s worries about the populist government’s budget strategy. By Frances D’Emilio. SENT: 360 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Negative reviews

Yelp plummeted to its worst single-day loss after the online reviews site reported soft sales and warned investors that the current quarter will also be weak.

CENTERPIECE

Room for improvement

Slowing spending growth on home improvements has concerned some investors in Home Depot and Lowe’s, but shareholders shouldn’t overestimate the impact.

Business News Supervisor Richard Jacobsen (800-845-8450, ext. 1680). For photos (ext. 1900.) For graphics/interactives (ext. 7636.) For access to AP Newsroom and technical issues: customersupport@ap.org, or 877-836-9477. Questions about transmission of financial market listings, call 800-3AP-STOX.

The full digest for AP’s Money & Markets service can be found at markets.ap.org. For questions about M&M content, contact Greg Keller at (212) 621-7958

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