BC-Business News Preview
Among the stories Friday from The Associated Press:
UNEMPLOYMENT-1960S AND NOW — The last time the U.S. unemployment rate was roughly as low as the 3.7 percent it is now — December 1969 — the economy was overheating, inflation was spiking and a short recession soon followed. Could that happen again? Probably not anytime soon, most economists say. Yet there are some surprising similarities between today’s economy and the late 1960s, when the unemployment rate remained mostly below 4 percent for four straight years. By Christopher S. Rugaber. UPCOMING: 900 words by 10:15 a.m.
ECONOMY-JOBS REPORT — The U.S. unemployment rate fell to 3.7 percent in September — the lowest level since December 1969 — while hiring slowed. Employers added just 134,000 jobs, the fewest in a year, the Labor Department says. But that figure was likely lowered by Hurricane Florence. By Christopher Rugaber. SENT: 670 words, photos. UPCOMING: Will be updated.
— ECONOMY-JOBS REPORT-DEMOGRAPHICS-GLANCE
— ECONOMY-JOBS REPORT-INDUSTRIES-GLANCE
FACEBOOK-KAVANAUGH — The appearance of a Facebook executive behind Supreme Court nominee Brett Kavanaugh during recent and contentious hearings has created some rifts at the company. SENT: 140 words, photo. UPCOMING: Will be updated.
MARKETS & ECONOMY:
FINANCIAL MARKETS — U.S. stocks are opening higher while bond prices are falling again after the Labor Department said the economy continues to add jobs at a strong pace. SENT: 500 words, photos. UPCOMING: 700 words by 5 p.m.
TRADE GAP — Record imports drove the U.S. trade deficit up for the third straight month in August. The deficit in the trade of goods with China and Mexico hit records. By Paul Wiseman. SENT: 370 words, photo.
CONSUMER BORROWING — The Federal Reserve releases its August report on consumer borrowing. By Martin Crutsinger. UPCOMING: 130 words after release of report at 3 p.m., 300 words by 3:45 p.m.
TESLA-ACCIDENT RECORDS — Tesla says it recorded one accident for every 3.34 million miles driven in the third quarter when the autopilot was engaged on its vehicles. SENT: 130 words, photo.
CYPRUS-NATURAL GAS — ExxonMobil will search for natural gas off the cost of Cyprus by the end of the year, a top executive said, as Turkey renewed warnings against resource exploration in seas where it says it infringes on its rights and those of breakaway Turkish Cypriots. By Menelaos Hadjicostis. SENT: 310 words, photos.
JAPAN-TOYOTA-RECALL — Toyota Motor Corp. says it has issued a recall for 2.43 million hybrid vehicles in Japan and elsewhere for potential problems with stalling. SENT: 230 words, photos.
NETHERLANDS-UNILEVER — Anglo-Dutch consumer goods multinational Unilever, whose brands include Knorr and Dove, has scrapped a plan to consolidate its headquarters in the Netherlands following opposition from British shareholders. By Mike Corder. SENT: 310 words, photo.
GERMANY-DIESEL — The German government is calling on automakers to pay for upgrades to diesel vehicles with excessively high emissions, as part of a deal to avert driving bans next year. SENT: 130 words, photo.
TECHNOLOGY & MEDIA:
CHINA-HACK REPORT-TECH STOCKS — Chinese tech stocks Lenovo Group and ZTE Corp. tumble in Hong Kong following a news report Chinese spies might have used chips supplied by another company to hack into U.S. computer systems. SENT: 350 words, photos.
RUSSIA-CYBERATTACKS — Germany has become the latest European country to blame the Russian military for a worldwide campaign of cyberattacks against sports organizations, businesses and media. SENT: 150 words, photo.
HONG KONG-EDITOR’S VISA — Hong Kong authorities have refused to renew the work visa of a senior editor of the Financial Times, a move that came after he chaired a talk by a pro-independence activist that drew Beijing’s ire. SENT: 800 words, photos.
PAKISTAN-SAUDI ARABIA — Pakistani authorities say they are in talks with Saudi Arabia to launch several mega projects, including construction of an oil refinery at the country’s southwestern Gwadar port on the Arabian Sea coast. SENT: 120 words.
SKOREA-CORRUPTION — A South Korean court has sentenced former President Lee Myung-bak to 15 years in prison over a slew of corruption charges. By Hyung-Jin Kim. SENT: 800 words, photo.
JAPAN-NUCLEAR — The International Atomic Energy Agency says it will test seawater, marine sediment and fish around Japan’s wrecked Fukushima nuclear plant this month. SENT: 120 words.
INDIA-RUSSIA — India has signed a $5 billion deal to buy five Russian S-400 air defense systems despite a looming threat of U.S. sanctions on countries that trade with Russia’s defense and intelligence sectors. By Ashok Sharma and Emily Schmall. SENT: 500 words, photos.