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BC-Business News Digest

May 22, 2019

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:

US-CHINA-TRADE _ China is cutting taxes on its fledgling software and integrated circuit industries as U.S. export controls threaten to handicap Chinese tech companies. By Joe McDonald. SENT: 600 words, photo.

With:

TRADE WARS-RETAILERS _ An escalating trade war with China could mean higher prices on a broad array of products from toys to clothing. But big box giants like Target and Walmart are best positioned to absorb the costs by using clout with their suppliers or judiciously increasing prices on a broad array of items to lessen the impact. The losers will be mall-based clothing stores and others who sell commoditized products like basic sweaters. By Anne D’Innocenzio. UPCOMING: 850 words, photos.

Also:

_ HUAWEI _ British and Japanese mobile phone companies say they’re putting on hold plans to sell new devices from Huawei, in the latest fallout from U.S. tech restrictions aimed at the Chinese company. SENT: 370 words, photo.

ELECTRIC CARS-FUTURE JOBS _ Volkswagen has employed generations of local workers in Zwickau, eastern Germany, to make combustion engine cars. Now it’s changing to make only electric cars, in a shift that some see as a promise for the future but others fear will mean thousands have to retrain or move, affecting the local community. By David McHugh. SENT: 1,090 words, photos.

EUROPEAN ELECTIONS-FIGHTING FAKE NEWS _ Fake news has evolved beyond the playbook used by Russian trolls in the U.S. election. As the European Union gears up for a crucial election, it is mostly homegrown groups rather than foreign powers that are taking to social media to push false information and extremist messages, experts say. By Kelvin Chan, Lorne Cook and Aritz Parra. SENT: 1,100 words, photo.

ON THE MONEY-DEBT COLLECTION _ The Consumer Financial Protection Bureau is proposing new rules to govern how third-party debt collectors contact borrowers. The rules are expected to accelerate the industry’s switch from insistent phone calls to email and texting. By Ken Sweet. SENT: 740 words.

SMALLBIZ-SMALL TALK-CULTURE _ Small business owners are making their company culture a bigger priority as they respond to the dramatically different expectations of a younger work force and a low unemployment rate that makes it harder to find staffers. By Joyce M. Rosenberg. UPCOMING: 950 words by 11 a.m., photos.

With:

SMALLBIZ-HOW TO CREATE A CULTURE _ While the culture at any business can be critical to attracting and retaining top workers, it needs to be a focus for small business owners who can’t offer the kind of salary and benefits that bigger companies do. By Joyce M. Rosenberg. UPCOMING: 300 words by 11 a.m.

MARKETS & ECONOMY:

FINANCIAL MARKETS _ Stocks are opening lower on Wall Street as investors eye developments in the U.S.-China trade dispute and absorb a key ruling in an antitrust case involving chipmaker Qualcomm. SENT: 500 words, photos. UPCOMING: Will be updated through 5 p.m.

FEDERAL RESERVE-MINUTES _ The Federal Reserve releases minutes from its May meeting when it left rates unchanged. By Martin Crutsinger. UPCOMING: 130 words after 2 p.m. release. 350 words by 2:45 p.m.

EARNINGS:

EARNS-TARGET _ An aggressive campaign at Target to let customers do more online is paying off. The retailer exceeded first quarter expectations on just about every level. By Anne D’Innocenzio. SENT: 540 words, photo.

EARNS-LOWE’S _ Shares of Lowe’s tumbled 10% at the opening bell Wednesday after the home improvement retailer cut its outlook for the year after a weak first quarter. SENT: 400 words, photos.

INDUSTRY:

CHINA-BOEING _ China is stepping up pressure on Boeing Co. as its airlines demand compensation for the grounding of 737 Max jetliners after fatal crashes in Ethiopia and Indonesia. By Joe McDonald. SENT: 400 words, photo.

NASCAR-INTERNATIONAL SPEEDWAY _ NASCAR is buying International Speedway for $2 billion. SENT: 160 words, photo. UPCOMING: Will be updated.

MED--ELI LILLY-INSULIN PRICE CUT _ A half-price version of Eli Lilly’s popular Humalog insulin is now available under the name Insulin Lispro, after the drugmaker promised a more affordable option amid soaring insulin prices. By Linda A. Johnson. SENT: 300 words, photo.

DAIMLER-CEO _ Daimler CEO Dieter Zetsche is handing off to his successor after 13 years at the helm as the company faces challenges from the transition to electric cars and digital transportation technologies. By David McHugh. SENT: 480 words, photos.

BRITAIN-STEEL INDUSTRY _ British Steel Ltd has been ordered into liquidation as it struggles with industry-wide troubles and Brexit, threatening 5,000 workers and another 20,000 jobs in the supply chain. By Danica Kirka. SENT: 460 words, photo.

LIONSGATE THEME PARK _ A massive indoor theme park in China will bring some of Lionsgate’s biggest films, from ‘The Hunger Games’ and ‘Twilight,’ to life. By Jonathan Landrum Jr. SENT: 800 words, photos.

TRUMP-CONGRESS-INFRASTRUCTURE _ Reality has set in during the three weeks since President Donald Trump and Democratic congressional leaders agreed to work together on a $2 trillion infrastructure package to invest in roads, bridges and broadband. SENT: 800 words, photo. UPCOMING: Will be updated from White House meeting at 11:15 a.m.

TECHNOLOGY & MEDIA:

QUALCOMM-ANTITRUST _ Qualcomm’s stock is tumbling before the opening bell after a federal judge ruled that the company unlawfully stifled cellphone chip market competition and charged excessive licensing fees. SENT: 270 words, photo.

JAPAN-ANTI-GROPING APP _ A smartphone app developed by Japanese police is being widely downloaded by women trying to protect themselves from gropers on packed rush-hour trains. By Mari Yamaguchi. SENT: 290 words, photos.

VENEZUELA-CRYPTOCURRENCY AID _ Over the past decade, cryptocurrencies like EOS and bitcoin have become popular among investors looking to make large profits or anonymously store money. By Manuel Rueda. SENT: 1,200 words, photos.

PERSONAL FINANCE:

BEHIND THE WHEEL-SUMMER OF USED CARS _ This summer, the best deals will be found on a dealership’s pre-owned lot. Because the price gap between new and used cars is widening, buying a used car now makes more sense than it did just a few years ago. By Matt Jones of Edmunds. SENT: 800 words, photo.

INTERNATIONAL:

BRITAIN-ECONOMY _ Inflation in Britain rose in April back above the Bank of England’s target rate following an uptick in energy prices and airfares, official figures showed Wednesday. By Pan Pylas. SENT: 400 words.

BREXIT _ British Prime Minister Theresa May is under pressure to scrap a planned vote on her Brexit blueprint, after her attempt at compromise got the thumbs-down from her own party and the opposition. By Jill Lawless. SENT: 720 words, photos.

AUSTRALIA-COAL MINE _ An Australian state government leader intervened on Wednesday to fast-track a proposed coal mine days after voters rejected tougher action to curb greenhouse gas emissions in the country’s general election. By Rod McGuirk. SENT: 750 words, photo.

THAILAND-LABOR ACTIVIST _ An appeals court in Thailand has upheld a 10 million baht ($313,000) judgment against a British activist who was sued by a fruit canning company whose workers complained of alleged labor abuses. By Grant Peck and Kaweewit Kaewjinda.

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.

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