BC-APFN-Business News Digest
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.
GENERAL MOTORS-RESTRUCTURING — Even though unemployment is low, the economy is growing and U.S. auto sales are near historic highs, General Motors is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation. By Tom Krisher. SENT: 1,100 words, photos, video.
BRITAIN-FACEBOOK — A cohort of international lawmakers is trying to turn up the pressure on Facebook, grilling one of its executives and making a show of founder Mark Zuckerberg’s refusal to explain to them why his company failed to protect users’ data privacy. By Kelvin Chan. SENT: 500 words, photos.
IMPLANT FILES-FDA — AP Investigation: Under pressure from industry, US health officials adopted a goal to be “first in the world” in approving new medical devices for US patients. The Food and Drug Administration’s new “vision” mirrored talking points from industry lobbyists. And former regulators say the agency’s shift ushered in a series of changes that may put American patients at risk. By Matthew Perrone. SENT: 3,800 words, photos. An abridged version of 930 words also was sent.
IMPLANT FILES-INDUSTRY INFLUENCE — The nation’s top medical advisers have called the FDA’s main system for clearing medical devices “flawed.” In 2011 they recommended that it be replaced because it cannot assure safety and effectiveness. Despite a string of device safety problems, the 42-year-old pathway persists, bolstered by millions in lobbying dollars from industry manufacturers and trade groups. By Matthew Perrone. SENT: 1,250 words.
IMPLANT FILES-INSULIN PUMPS — Medical device manufacturers and experts say insulin pumps are safe. But an AP investigation found that insulin pumps and their components are responsible for the highest number of malfunctions, injuries and death reports in the U.S. Food and Drug Administration’s medical device database. In terms of injuries, insulin pumps were second only to metal hip replacements. But those problems have been widely reported. By contrast, problems with insulin pumps largely have flown under the radar. By Holbrook Mohr and Mitch Weiss. SENT: 1,410 words, photos.
METOO-DISOBEDIENCE AWARD — Three women influential in the #MeToo movement are receiving an MIT award that recognizes disobedience for the good of society. SENT: 150 words, photo.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Major U.S. stock indexes are mostly lower after a strong gain the day before. A steep loss for United Technologies is taking industrial and defense companies lower. Steelmakers and other materials companies are falling while technology and internet companies edge higher. By Marley Jay. SENT: 780 words, photos. UPCOMING: Will be updated through 5 p.m.
CONSUMER CONFIDENCE — U.S. consumer confidence slipped this month but remains strong. By Paul Wiseman. SENT: 280 words, photos. UPCOMING: Will be updated.
HOME PRICES — U.S. home prices increased more slowly in September from a year ago as higher mortgage rates weighed on sales. By Christopher Rugaber. SENT: 360 words. UPCOMING: 300 words by 9:45 a.m.
JAPAN-AUTO ALLIANCES — The arrest of Nissan’s former chief executive Carlos Ghosn has raised doubts over the future of the alliance among automakers Nissan, Renault and Mitsubishi Motors that he helped to forge. This is not the first time East-West auto alliances in Japan have run afoul, underlining the challenges of such collaborations. Here’s a look at some other alliances and why they folded. By Yuri Kageyama. SENT: 690 words, photos.
CHICK-FIL-A-UNIVERSITY — Students at a private university in New Jersey can eat more chicken as long as it’s not Chick-fil-A. SENT: 140 words.
US SPORTS BETTING — Gambling companies, professional sports leagues, government officials and others discuss the rapidly growing legal sports betting market in the U.S. at a conference. By Wayne Parry. UPCOMING: Developing from conference, timing uncertain.
FEMALE FUNERAL DIRECTORS — A training program for the next generation of morticians and undertakers is testament to a change that is slowly remaking the funeral business. Sixty of the 75 students in the program at the State University of New York Canton are women, and those numbers are no fluke. By Ted Shaffrey. SENT: 600 words, photos, video.
PIPELINE LAWSUIT — An appeals court in upstate New York rules in favor of landowners who are fighting against a gas company’s plans to build a pipeline from Pennsylvania to Lake Ontario. SENT: 130 words.
ATM-MISTAKEN MONEY-TEXAS — An ATM in the Houston area has been shut down and was temporarily guarded by law officers after mistakenly dispensing $100 bills instead of $10s and word of the glitch got out on social media. SENT: 130 words.
HOMES-POROUS PAVING — One driveway at a time, many green-minded homeowners and communities are opting for permeable paving options instead of traditional asphalt. By Katherine Roth. SENT: 530 words, photos.
SOYBEAN SURPLUS-TARIFFS — American farmers still working to get out their remaining soybeans after a weather-plagued harvest season are struggling to figure out what to do with a record crop now that their traditionally dominant export market is largely closed. By David Pitt. SENT: 680 words, photos.
TECHNOLOGY & MEDIA:
IVANKA TRUMP-IDAHO — Ivanka Trump, President Donald Trump’s daughter and White House adviser, is scheduled to visit a southwestern Idaho school district with Apple CEO Tim Cook. SENT: 130 words. UPCOMING: Will be updated from event scheduled for 1:15 p.m.; photos.
BRITAIN-UBER — The ride-hailing service Uber has been fined the equivalent of nearly $1.2 million by British and Dutch authorities for failing to protect customers’ data during a cyberattack in 2016. SENT: 270 words.
MALAYSIA-DISNEY-FOX — Resort developer Genting Malaysia has filed a lawsuit in California seeking at least $1 billion in damages from Walt Disney Co. and Fox Entertainment Group for alleged breach of contract related to a theme park, the company says. SENT: 260 words, photos.
AUSTRALIA-FAIRFAX-NINE-MERGER — A court dismisses a last-ditch challenge and approved the merger of television network Nine Entertainment with newspaper publisher Fairfax Media into an Australian media giant to be known only as Nine. SENT: 230 words.
GREECE-JOURNALISTS STRIKE — Greek journalists have walked off work for 24 hours ahead of a general strike that is expected to bring the country to a standstill to protest against protracted austerity measures. By Nicholas Paphitis. SENT: 410 words.
NETHERLANDS-DRONES — A scale model of a flying drone-car drove and hovered across an Amsterdam exhibition hall Tuesday, providing a glimpse of what could be the future of urban mobility. By Mike Corder. SENT: 420 words, photos.
MICROSOFT’S STEADY RESILIENCE — Microsoft is threatening to overtake Apple as the world’s most valuable publicly traded company — a sign of Microsoft’s steady resilience as other tech giants stumble. By Matt O’Brien. UPCOMING: 500 words by 3 p.m., photos.
NERDWALLET-MILLENIAL MONEY-NO GIFT EXCHANGE — It’s OK to bow out of secret Santas and other gift exchanges if you don’t have the funds to participate. By Kelsey Sheehy. SENT: 740 words, photos.
BREXIT — The European Union’s highest court begins considering whether Britain can change its mind about leaving the EU, as Prime Minister Theresa May battled criticism of her divorce deal from U.K. politicians — and from U.S. President Donald Trump. By Jill Lawless and Raf Casert. SENT: 720 words, photos.
FRANCE-GAS PRICE PROTESTS — French President Emmanuel Macron is trying to defuse protests over rising fuel taxes by explaining his plans to wean the country off fossil fuels and promising to shift out of cheap nuclear energy more slowly. By Sylvie Corbet. SENT: 600 words, photos.
ITALY-BUDGET — Investors are welcoming with relief the Italian government’s indication that it is open to changing the draft budget that has led to a high-stakes standoff with the European Union. By Colleen Barry. SENT: 350 words, photo.
MONEY & MARKETS SUMMARY:
Spirit Airlines’ stock had its biggest one-day gain after the budget airline said it expects strong revenue growth in the fourth quarter.
Auto parts slowdown?
Uncertainty about auto sales in China, Europe and the U.S. is causing some angst in the auto parts supply business.
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: firstname.lastname@example.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