BC-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.
MILLENNIAL INVESTORS _ Many millennial investors just got their first big test in the stock market. After enjoying the longest bull market on record, they got the brutal reminder that stocks can fall quickly and indiscriminately. Many passed the test, though, and not only held steady through the volatility but also picked up their buying. By Stan Choe. SENT: 1,000 words, photos.
With: FINANCIAL MARKETS _ Stocks are moving broadly lower on Wall Street as traders worry about the impact on U.S. companies of a slowdown in China’s economy. By Damian J. Troise. SENT: 600 words, photos. UPCOMING: 700 words by 5 p.m.
FEDERAL RESERVE _ Chairman Jerome Powell is likely to refer this week to a word he’s been using to describe the Federal Reserve’s latest approach to interest rates: “Patient.” With pressures on the economy rising _ a global slowdown, a trade war with China, slowing corporate earnings, a nervous stock market _ the Powell Fed has been signaling it’s in no hurry to resume raising rates. By Martin Crutsinger. SENT: 1,000 words, photo.
FREE TV ONLINE-REVIEW _ Attaching an antenna to a TV is one way to ditch an expensive cable bill but still watch “The Bachelor.” A donation-supported service called Locast offers another way to get the country’s most popular networks on TVs, phones and computers. The bare-bones, year-old service isn’t well-known, but it’s free, easy to use and is perfect for sporadic viewers – if it survives. By Tali Arbel. SENT: 800 words, photos.
VENEZUELA-ECONOMIC PAIN _ The Trump administration’s recognition of opposition leader Juan Guaido as the Venezuela’s interim president is being touted by the U.S. as the only way to restore the country’s democracy. Economists agree that the longer the standoff between the U.S.-backed Guaido and Maduro drags on, the more regular Venezuelans are likely to suffer. By Joshua Goodman and Scott Smith. SENT: 1,000 words, photos.
MARKETS & ECONOMY:
BUDGET DEFICIT _ The federal government shutdown will cause a slight permanent harm to the economy _ about $3 billion _ according to a new report by the Congressional Budget Office. The report says the five-week shutdown has slowed growth in the near term but that most of the lost growth “will eventually be recovered.” By Andrew Taylor. SENT: 570 words, photo.
ECONOMY-BUSINESS SERVICES _ A majority of business economists foresee no recession in the United States within the next 12 months but do predict a slowdown in growth this year. By Josh Boak. SENT: 300 words.
UNITED STATES-IRAN _ The Trump administration is closely eyeing efforts in Europe to set up an alternative money payment channel to ease doing business with Iran and avoid running afoul of sanctions the U.S. has levied on the Islamic republic. By Deb Riechmann and Matthew Lee. SENT: 840 words, photos.
EARNS-CATERPILLAR _ Caterpillar returned to profitability in the fourth quarter, but sales have begun to slow in China and earnings failed to measure up to expectations on Wall Street. SENT: 620 words, photo.
JAPAN-NISSAN-GHOSN _ Nissan Motor Co. says it has received an inquiry from the U.S. Securities and Exchange Commission, suggesting investigations into dealings by its former chairman Carlos Ghosn could expand beyond Japan. SENT: 220 words, photo.
NERDWALLET-LIZ WESTON-5 DIVORCE MISTAKES _ Missteps, such as ignoring tax consequences in property settlements or battling it out in court, can drive the price, over $15,000 on average, even higher. By NerdWallet columnist Liz Weston. SENT: 810 words, photo.
TECHNOLOGY & MEDIA:
EUROPE-FACEBOOK _ Facebook says it’s tightening up requirements for European Union political ads ahead of bloc-wide elections scheduled for May. It’s part of the company’s latest efforts to fight misinformation on its platforms. The social media giant said Monday that political ad buyers will need to have their identities confirmed before placing ads, which will also be entered into a public archive. By Kelvin Chan. SENT: 400 words, photo.
NBC-SKY SPORTS NEWS _ Britain’s Sky Sports News is returning to U.S. television this week for a transfer-deadline show on the NBC Sports Network. By Ronald Blum. SENT: 380 words.
BRAZIL-DAM COLLAPSE _ Firefighters are carefully moving over treacherous mud, sometimes walking, sometimes crawling, in search of survivors or bodies left by a dam collapse that buried mine buildings and surrounding neighborhoods with iron ore waste. By Marcelo Silva de Sousa and Peter Prengaman. SENT: 1,000 words, photos.
BREXIT _ Pro-Brexit British lawmakers are mounting a campaign to rescue Prime Minister Theresa May’s rejected European Union divorce deal in a parliamentary showdown this week. By Jill Lawless. SENT: 800 words, photos.
With: BREXIT-AMENDMENTS _ Here’s a look at the possible amendments to be considered. SENT: 520 words.
EUROPE-ECONOMY _ European Central Bank head Mario Draghi says that much of the drag on the eurozone economy would ease if “clarity and peace” were to break out in the trade dispute between the U.S. and China. Draghi says ECB officials think the key factor is how long the various causes for slower growth might persist, such as uncertainty about tariffs and whether Britain will leave the European Union without a negotiated deal. By David McHugh. SENT: 420 words, photo.
THAILAND-MEDICAL MARIJUANA _ Thailand’s military government has suspended the licensing of commercial marijuana-based products for medical use amid concern that foreign pharmaceutical companies might try to monopolize the market. By Kaweewit Kaewjinda. SENT: 390 words.
MONEY & MARKETS SUMMARY:
China slows Caterpillar
Caterpillar’s shares suffered their worst loss in a decade Monday after the maker of construction equipment said sales are slowing in China.
The International Monetary Fund is trimming its growth forecasts for this year and next. Among the causes, it blames the tit-for-tat trade war between the United States and China and rising interest rates.
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