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BC-Business News Digest

October 8, 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:

NOBEL-ECONOMICS — Just one day after a United Nations panel issued an urgent call for action on climate change, the Nobel prize in economics went to one American researcher for his pioneering work on the economics of a warming planet — and to another whose study of technological innovation raises hopes that people are creative enough to do something about it. The alarming report Sunday from the U.N. panel explicitly cited the work of William Nordhaus of Yale University, one of the new Nobel laureates. His co-winner, Paul Romer of New York University, says “humans are capable of amazing accomplishments” — even saving the planet. By Paul Wiseman and David Keyton. UPCOMING: 900 words at 3:30 p.m.

With:

NOBEL-ECONOMICS-THE LATEST — Running updates.

DIVIDED RETIREMENT — Government stats show more Americans are working longer than ever, with the percentage of those working at 65+ close to the highest level in more than 50 years. But the broad numbers belie some stratification underneath. It appears that those retiring later are also the better educated - so they may be choosing to work longer because they like their jobs. By Stan Choe and Sarah Skidmore Sell. SENT: 1,250 words, photos, graphic.

AMERICAN AIRLINES-STRANDED PASSENGERS — A new policy at American Airlines could leave more coach passengers stranded after delays or canceled flights. The airline is telling agents to avoid rebooking economy customers on other airlines, with a few exceptions, like people flying to a wedding. By contrast, agents are told to do whatever is necessary to help elite customers and business-class travelers get to their destinations quickly. By David Koenig. SENT: 820 words, photos.

FACEBOOK-HOME DEVICE — Facebook is launching the first electronic device to bear its brand, a screen and camera-equipped gadget intended to make video calls easier and more intuitive. By Michael Liedtke and Barbara Ortutay. SENT: 530 words, photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stocks are falling sharply for the third day in a row Monday as technology companies again take steep losses. By Marley Jay. SENT: 810 words, photos. UPCOMING: Will be updated through 5 p.m.

PRODUCER PRICES — The Labor Department reports on U.S. producer price inflation in September. By Christopher Rugaber. UPCOMING: 130 words after release of report at 8:30 a.m. 300 words by 9:15 a.m.

INDUSTRY:

CORPORATE DEALS — Executives around the world are cooling to the idea of mergers and acquisitions in the face of rising trade tensions, notably between the U.S. and China, a leading adviser on international corporate deals said. By Pan Pylas. SENT: 560 words, photo.

ABU DHABI-OIL — A subsidiary of General Electric Co. has agreed to purchase a 5-percent stake in the drilling arm of Abu Dhabi’s state oil company for $550 million. SENT: 120 words.

ONE CHAMPIONSHIP-INVESTMENT — One Championship says it has closed a $166 million financing round led by Sequoia Capital, pushing the Asian mixed martial arts promotion’s total capital base past $250 million. SENT: 130 words.

YELLOWSTONE MINING — U.S. Interior Secretary Ryan Zinke is in southwestern Montana, where he’s expected to approve a plan to block new mining claims on public lands near Yellowstone National Park. SENT: 140 words, photos.

SMALLBIZ-GET STARTED — The IRS is making it simpler for companies to deduct business meals. The agency last week issued guidance for the deductibility of meals under the tax law enacted in December. The law left some confusion about whether company owners could deduct the cost of taking clients or staffers out for meals. But under the IRS’ guidance, 50 percent of what a business spends on meals remains deductible. And it’s now OK to deduct the cost of taking a prospective client or customer to a restaurant. By Joyce M. Rosenberg. SENT: 450 words, photos.

FRANCE-AIRBUS-CEO — A new chief executive has been named at Airbus. The European aircraft maker’s board picked insider Guillaume Faury to replace CEO Tom Enders in April. SENT: 130 words, photos.

TECHNOLOGY & MEDIA:

BRITAIN-GOOGLE — A British court has blocked a suit against Google on allegations that it had collected personal data on some 4 million iPhone users. SENT: 120 words.

CHINA-CHIP HACK — A Chinese government spokesman has sidestepped questions about a report that its spies inserted chips into computer equipment that might allow them to hack into U.S. companies and government agencies. SENT: 140 words.

RUSSIA-CYBERATTACKS — Russian Foreign Minister Sergey Lavrov says suspected Russian spies accused of trying to hack into the world’s chemical weapons watchdog weren’t doing anything illegal. SENT: 130 words, photo.

HONG KONG-EDITOR’S VISA — Hong Kong journalist groups have expressed dismay over the government’s refusal to renew a work visa for a Financial Times editor. SENT: 370 words, photos.

SPACEX-ARGENTINE SATELLITE — When SpaceX launched a rocket carrying an Argentine Earth-observation satellite from California, both the night sky and social media lit up. SENT: 460 words, photos.

BULGARIA-JOURNALIST KILLED — Bulgarian police are investigating the rape, beating and slaying of a female television reporter whose body was dumped near the Danube River after she reported on the possible misuse of European Union funds in Bulgaria. By Alison Mutler. SENT: 750 words.

FOX-HICKS — President Donald Trump’s former communications chief Hope Hicks has been hired as communications director at the newly revamped Fox company. By David Bauder. SENT: 320 words.

PERSONAL FINANCE:

NERDWALLET-LIZ WESTON-PAYING-FOR-COLLEGE — Four in 10 families who hope to send kids to college aren’t saving for that goal, and many who have aren’t saving enough. Here are some steps to take now that can help expand your options. By NerdWallet columnist Liz Weston. SENT: 820 words, photos.

INTERNATIONAL:

GERMANY-ECONOMY — German factory production dropped in August for the third straight month in a disappointing trend for Europe’s largest economy. SENT: 110 words.

AUSTRALIA-OPERA HOUSE — A plan to project a horse racing advertisement on the famed sails of the Sydney Opera House is dividing Australians. SENT: 530 words, photo.

GERMANY-OKTOBERFEST — More than 6 million visitors, 7.5 million liters of beer, 124 rotisserie oxen and Bill Clinton in lederhosen; another Oktoberfest in Munich has come and gone. SENT: 140 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Shares in Arconic climbed after Reuters reported that several private equity companies are joining forces to buy the aluminum products maker.

CENTERPIECE

The outlook for insurers

Wall Street expects big earnings growth from the nation’s largest health insurers this year, but the early read on 2019 isn’t as shiny.

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.

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.

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