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BC-APFN-Business News Digest

August 24, 2018

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

TOP STORIES:

FEDERAL RESERVE-POWELL — Federal Reserve Chairman Jerome Powell will not lack for topics to cover when he delivers the keynote speech to a gathering of global central bankers on Friday in Wyoming. Markets will be watching to see what Powell has to say about financial turmoil in emerging markets, the economic threats posed by a growing trade war and President Donald Trump’s criticism of the Fed’s recent rate hikes. By Martin Crutsinger. UPCOMING: 600 words by 3 a.m., followed by 130 words after embargo on prepared remarks lifts at 10 a.m., 400 words by 10:45 a.m.

TAX OVERHAUL-HIGH-TAX STATES — The Trump administration has laid down rules aimed at preventing residents in high-tax states from avoiding a new cap on widely popular state and local tax deductions. The action over the new Republican tax law pits the government against high-tax, heavily Democratic states in an election-year showdown. By Marcy Gordon and Geoff Mulvihill. SENT: 950 words, photos.

With: TAX OVERHAUL-HIGH-TAX STATES-Q&A — A newly announced rule from the IRS could hit high-tax states hard. A federal policy will thwart states’ efforts to help residents work around a new cap on how much of their state and local taxes they can deduct on their federal income-tax returns. Here are questions and answers about the IRS rule announced Thursday, what it means for states and how high-tax states might respond. By Geoff Mulvihll. UPCOMING: 500 words, photo at 3 a.m.

MISSING STUDENT-IOWA-AGRICULTURE — The arrest of a Mexican farmworker in the death of an Iowa college student renewed calls to change immigration laws, but it also focused attention on the immigrant workers whose labor is essential to agriculture. By David Pitt and Scott McFetridge. UPCOMING: About 875 words with photos by 2 a.m.

MARKETS & ECONOMY:

FINANCIAL MARKETS — A report on global markets, starting in Asia and updated through the close of trading on Wall Street.

DURABLE GOODS — The Commerce Department releases its July report on durable goods. By Josh Boak. UPCOMING: 130 words after release of report at 8:30 a.m., 300 words by 9:15 a.m.

INTERNATIONAL:

LEBANON-SQUEEZED ECONOMY — Nearly four months after Lebanon’s first parliamentary elections in nine years, Prime Minister-designate Saad Hariri has not succeeded in forming a new Cabinet due to political bickering between rival groups increasing pressure on the country’s economy. The political paralysis adds to a years-long crisis made worse by Syria’s war, the influx of a million Syrian refugees and massive debt that has made Lebanon the third-worst indebted country in the world. By Fadi Tawil. UPCOMING: 900 words, photos, video at about 2 a.m.

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