BC-Business News Preview
Among the stories Thursday from The Associated Press:
WAGES-BIG RAISES FOR SOME — American workers who quit to take new jobs have been enjoying pay raises that are one-third larger than raises for workers who stay put — producing a gap that is the widest since the Great Recession. At the same time, retail and restaurant workers are receiving more generous raises than manufacturing workers are. And America’s CEOs are receiving some of the biggest pay gains of all. At a time when the average annual wage increase for U.S. workers as a whole — 2.7 percent — remains surprisingly sluggish, some categories of workers are doing much better than average. By Christopher Rugaber. UPCOMING: 800 words by 9 a.m.
TRADE-CHINA-TARIFFS — The Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods, escalating a confrontation between the world’s two biggest economies and likely squeezing U.S. companies that import everything from handbags to bicycle tires. By Paul Wiseman and Anne D’Innocenzio. SENT: 600 words, photos.
— US-CHINA TARIFFS — China is ready to retaliate if U.S. President Donald Trump goes ahead with a tariff hike on Chinese goods and is confident it can maintain “steady and healthy” economic growth, a government spokesman says. SENT: 250 words, photos.
— TRADE-CHINA-TARIFFS-THE LATEST — Running updates.
FINANCIAL MARKETS — U.S. stocks are little changed at the start of trading and global markets are mixed on worries that the U.S. is on the verge of imposing tariffs on another $200 billion of Chinese goods in a mounting trade dispute. SENT: 490 words, photo. UPCOMING: 700 words by 5 p.m.
UBER CEO-Q&A — Dara Khosrowshahi took the reins at Uber a year ago and inherited a ride-sharing company plagued with scandals. He has made safety the top priority and is trying to rebuild its culture. He envisions Uber becoming a one-stop shop for transportation planning including Uber cars, bikes, scooters and mass-transit. By Cathy Bussewitz. SENT: 770 words, photos.
OF MUTUAL INTEREST-HOMEBUILDERS — A recent batch of weak housing data suggest the housing market is losing momentum, despite an otherwise solid economy, adding to an already tough year for homebuilders. Shares for most builders are down more than 15 percent this year. By Alex Veiga. UPCOMING: 320 words by 11 a.m., photos.
ICELAND-DIGITAL FREE ZONE — Iceland’s Hornstrandir Nature Reserve is one of the last digital-free frontiers in the Nordic nation ranked as the world’s most-wired, and many people want to keep it that way now that internet service is on the horizon. By Egill Bjarnson. SENT: 920 words, photos.
ITALY-STARBUCKS — Starbucks is opening its first store in Italy on Friday, betting that premium brews and novelties like a heated marble-topped coffee bar will win customers in a country fond of its daily espresso rituals. By Luca Bruno and Frances D’Emilio. SENT: 450 words, photos.
MARKETS & ECONOMY:
ADP-EMPLOYMENT — Payroll processor ADP reports how many jobs private employers added in August. By Christopher Rugaber. SENT: 310 words, photo.
PRODUCTIVITY — The Labor Department issues revised data on productivity in the second quarter. By Josh Boak. UPCOMING: 160 words, photo.
ECONOMY-SERVICES — The Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for July. UPCOMING: 130 words after release of report at 10 a.m., 300 words by 10:45 a.m.
MORTGAGE RATES — Freddie Mac reports on this week’s average U.S. mortgage rates. UPCOMING: 130 words after release of report at 10 a.m. 300 words by 10:45 a.m.
DISNEY-LABOR — Thousands of Walt Disney World workers are voting on whether to accept a contract proposal that would increase the starting minimum wage to $15 an hour over the next three years while enabling Disney to use more part-time workers and require new workers to stay in their positions longer before transferring. By Mike Schneider. SENT: 520 words, photo. UPCOMING: Will be updated after vote tally at 8 p.m.
HOSPITALS-MAKING DRUGS — Several major hospital groups launch their own generic drug company to tackle chronic shortages and high prices. By Linda A. Johnson. SENT: 320 words, photos.
FORD-PICKUP RECALL — Under pressure from U.S. safety regulators, Ford is recalling about 2 million F-150 pickup trucks in North America because the seat belts can spark and cause fires. By Tom Krisher. SENT: 380 words, photos.
LITHUANIA-WALMART-SOVIET SYMBOL — Lithuania has lashed out at retailing giant Walmart for using the letters USSR and Soviet Union emblems on T-shirts and other products for sale online, and is demanding that the goods be removed. By Liudas Dapkus. SENT: 440 words.
BRITAIN-FARFETCH IPO — Online luxury e-commerce company Farfetch says it expects to reap $446.5 million in its upcoming initial U.S. stock sale. SENT: 270 words.
BRITAIN-BURBERRY-FUR — The British luxury fashion brand Burberry will stop using real fur in its products. SENT: 280 words, photo.
TECHNOLOGY & MEDIA:
CONGRESS-SOCIAL MEDIA-DORSEY — A chill, bearded and nose-ringed Jack Dorsey appeared unflappable as he faced hours of questioning from members of Congress Wednesday on issues as wide-ranging as political bias, hate speech, school safety and election manipulation. By Barbara Ortutay. SENT: 710 words, photos. First moved in a previous cycle.
NERDWALLET-COLLEGE MAJOR DEBT — If you don’t know what you want to study, you can choose a major that won’t leave you with student loans you can’t repay. By Anna Helhoski, NerdWallet. UPCOMING: 780 words by 11 a.m., photo.
BRITAIN-MUSIC SALES — The body representing British music is warning that the industry’s financial fortunes, currently buoyed by the likes of Ed Sheeran, could be harmed in the event of a “bad Brexit deal.” By Pan Pylas. SENT: 440 words.
GERMANY-ECONOMY — Official data show German factory orders dropped for a second month in a row despite increasing domestic demand. SENT: 130 words.
SOUTH AFRICA-CORRUPTION PROBE — South African President Cyril Ramaphosa has ramped up an anti-corruption drive, authorizing an investigation of alleged wrongdoing in the national water department’s dealings with German software firm SAP. SENT: 160 words.
ASIA-STORM — A major Japanese airport flooded by a typhoon is expected to partially reopen Friday after officials promised round-the-clock work to repair damage and make the travel hub ready for passengers. SENT: 180 words, photos.