BC-APFN-Business News Preview
Among the stories Thursday from The Associated Press:
APPLE-IPHONE SALES-CHINA — Apple Inc.’s $1,000 iPhone is a tough sell to consumers in China unnerved by an economic slump and the trade war with the U.S. CEO Tim Cook said in a letter to shareholders that demand for iPhones is waning and revenue for the last quarter of 2018 will fall well below projections, a decrease he traced mainly to China. By Joe McDonald. SENT: 810 words, photos.
APPLE-IPHONE SALES-CHINA-THE LATEST — Running updates.
FINANCIAL MARKETS — Apple’s warning that its sales in China weakened over the holidays added to investors’ fears that the global economy is losing strength, with the trade fight between the U.S. and China making the situation worse. U.S. stock indexes fell sharply. By Marley Jay. SENT: 800 words, photos. UPCOMING: 700 words by 5 p.m.
PEAK SMARTPHONE — Behind Apple’s disconcerting news of weak iPhone sales lies a more sobering truth: The tech industry has hit Peak Smartphone, in which adoption has saturated, feature innovation has slowed and most people no longer see a reason to keep upgrading frequently. Some manufacturers have boosted prices to keep up profits, although Apple’s shortfall in China may highlight the limits of that strategy. By Mae Anderson and Tali Arbel. UPCOMING: 600 words by 4 p.m., photos.
BRISTOL-MYERS SQUIBB-CELGENE — Bristol-Myers Squibb is spending $74 billion on fellow drugmaker Celgene in a deal aimed at stocking the combined company’s development pipeline with cancer, immunology and cardiovascular treatments. SENT: 250 words, photo. UPCOMING: May be updated.
YE-MUTUAL FUNDS-YEAR IN REVIEW — A recap of how mutual funds did in 2018. By Stan Choe. UPCOMING: 800 words, photos.
GROWING UP DIGITAL-SMARTPHONE PSYCHIATRY — Smartphones have been blamed for contributing to anxiety, depression and suicidal behavior in susceptible teens. But what if they could be used instead to identify kids at risk? By Lindsey Tanner. UPCOMING: 1,200 words by 11 a.m., photos.
TESLA SALES — Tesla made about 9,300 more vehicles than it delivered last year, raising concerns among industry analysts that inventory is growing as demand for the company’s electric cars may be starting to wane. By Tom Krisher. SENT: 740 words, photos. A version of this story ran in a previous cycle.
MARKETS & ECONOMY:
ECONOMY-MANUFACTURING — The Institute for Supply Management, a trade group of purchasing managers, issues its index of manufacturing activity for November. By Paul Wiseman. UPCOMING: 130 words after release of report at 10 a.m. 350 words by 10:45 a.m.
ADP-EMPLOYMENT — Payroll processor ADP reports says U.S. businesses added a robust 271,000 jobs in December. By Josh Boak. SENT: 280 words, photos.
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.
GENERAL MOTORS-PRESIDENT — General Motors has promoted product development chief Mark Reuss (Royce) to company president. SENT: 130 words.
BLACK FARMERS-SOYBEAN LAWSUIT — Some black farmers from Mississippi and Tennessee are returning to federal court for a hearing on their lawsuit claiming a seed company sold them faulty soybean seeds because of their race. SENT: 130 words. UPCOMING: Will be updated from morning hearing.
TECHNOLOGY & MEDIA:
SELF-DRIVING SNACK DELIVERY — Forget vending machines, PepsiCo is testing a way to bring snacks directly to college students. By Joseph Pisani. SENT: 220 words, photos.
ESPORTS-GETTING WOMEN IN THE GAME — The Entertainment Software Association reported this year that 45 percent of U.S. gamers are female, yet women make up a scant portion of the professional esports player pool. The industry has grappled with harassment and toxic behavior since the Gamergate scandal of 2014, when a group of male gamers organized to target women throughout the industry. By Jake Seiner. SENT: 1,350 words, photos.
NERDWALLET-ZERO MONEY TRAVEL — Travel accommodations can be costly. Slash the cost of yours by exploring alternative forms of lodging, such as couch-surfing, home exchanges or housesitting. UPCOMING: 800 words by 11 a.m., photos.
GOVERNMENT SHUTDOWN — No one budged at President Donald Trump’s closed-door meeting with congressional leaders, so the partial government shutdown persisted over his demand for billions of dollars to build a wall along the U.S. border with Mexico. They’ll all try again Friday. By Lisa Mascaro and Catherine Lucey. SENT: 1,030 words, photos, audio, video.
SOUTH KOREA-JAPAN-FORCED LABOR — Lawyers for South Koreans forced into wartime labor have taken legal steps to seize the South Korean assets of a Japanese company they are trying to pressure into following a court ruling to provide them compensation. By Kim Tong-Hyung. SENT: 370 words, photos.
TURKEY-ECONOMY — Official figures show that Turkey’s inflation rate eased for the second consecutive month in December, helped by tax cuts and discounted prices on consumer goods. SENT: 130 words, photo.