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BC-Business News Digest

December 27, 2018

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.

TOP STORIES:

FINANCIAL MARKETS —Stocks are down sharply, unable to build on the prior day’s strong performance, as Wall Street’s wild Christmas week rolls on. By Alex Veiga. SENT: 600 words, photos. UPCOMING: Will be updated throughout trading day.

LIGHTER LAUNDRY DETERGENT — Amazon’s rise is forcing laundry detergents to shrink. Soap makers Tide and Seventh Generation have introduced redesigned packaging that’s several pounds lighter than traditional bottles by cutting down on plastic and using less water in their formulas. They’re making the changes to please Amazon and other online stores: lighter packaging means those retailers will pay less to ship the detergent to shopper’s doorsteps, making each sale more profitable. By Joseph Pisani. SENT: 680 words, photos.

YE--MARKETS-THE YEAR IN 10 CHARTS — Markets got the year off to a strong start and notched record highs into the early fall. Then everything went south. A look back at a tumultuous year in 10 charts. UPCOMING: 700 words, charts on Dec. 27. Will be updated Dec. 31 with final closing figures for 2018. By The AP Markets Team. This story stands for the weekly Off the Charts column.

YE--BUSINESS NEWS QUIZ — Test your knowledge of notable events in the business world in 2018. UPCOMING: 500 words.

MARKETS & ECONOMY:

CONSUMER CONFIDENCE —U.S. consumer confidence tumbled this month as Americans began to worry that economic growth will moderate next year. But consumer spirits are still high by historic standards. By Paul Wiseman. SENT: 280 words, photos.

MORTGAGE RATES — U.S. long-term mortgage rates fell this week, offering a slight degree of relief to would-be homebuyers after the stock market has tumbled. By Josh Boak. SENT: 210 words, photos.

INDUSTRY:

YE--LEGAL MARIJUANA-BANNER YEAR — The last year was a 12-month champagne toast for the legal marijuana industry as the global market exploded and cannabis pushed its way further into the financial and cultural mainstream. By Gillian Flaccus. SENT: 1,150 words, photos, video.

With:

— YE--LEGAL MARIJUANA-BANNER YEAR-TIMELINE — A look at some of the highlights for legal marijuana in 2018. SENT: 480 words, photos.

BLOWOUT-CLIMATE-EXPORT BOOM — The boom in U.S. fossil-fuel production has been matched by a rush on the other side of the Pacific to build the tankers needed to respond to Asia’s seemingly unquenchable thirst for energy. When Congress lifted restrictions on shipping crude oil overseas in 2015, soon after the Obama administration opened the doors for exports of natural gas, even the most boosterish of Texas oil men wouldn’t have predicted the U.S. could become one of the world’s biggest fossil-fuel exporters so quickly. By Michael Biesecker and Kim Tong-Hyung. SENT: 1,730 words, photos.

DISNEY-SEX DISCRIMINATION — A middle-aged male former labor analyst at Disney Cruise Line claims his younger female manager created a hostile work environment by bullying him about his age, bragging about sleeping with married men in the office and passing him over for promotions, according to a federal lawsuit. By Michael Schneider. SENT: 750 words, photo.

INVESTMENT FRAUD — A federal investigation of a multimillion-dollar investment fraud scheme has led to criminal charges in Maryland against four women who worked for an Israel-based company. A trial for one of the women, Lee Elbaz, was scheduled to start on Jan. 8 but has been postponed indefinitely because her lawyers withdrew from the case on Dec. 18. Two other women who worked as sales representatives for Yukom Communications pleaded guilty earlier this month to conspiracy charges. By Michael Kunzelman. SENT: 840 words.

TECHNOLOGY & MEDIA:

FOX 25 YEARS — The manner in which football is televised today went in motion 25 years ago this month when Fox won rights to broadcast NFL games for $1.6 billion over four years. By Joe Reedy. SENT: 1,360 words, photos.

BEVMO HACKED — BevMo is warning that a data breach may have allowed a hacker to steal credit card numbers and other information from more than 14,000 customers who used the alcohol-seller’s website. SENT: 120 words.

PERSONAL FINANCE:

NERDWALLET-SIDE HUSTLE — Simplify your taxes and maximize your income with a separate credit card for your side hustle. In addition to keeping all your business expenses in one place, it could help you with credit to build your business and rewards to extend your budget. By NerdWallet columnist Melissa Lambarena. SENT: 760 words, photo.

INTERNATIONAL:

CHINA-TARIFFS — China’s government says it has made plans with Washington for talks in January aimed at ending a tariff battle that threatens to depress global trade. SENT: 200 words.

BREXIT — The commissioner of the Metropolitan Police has suggested that Britain’s departure from the European Union will be costly and could have a damaging effect on public safety. SENT: 130 words, photos.

TAIWAN-PROTEST — Thousands of Taiwanese, taking a page from France’s yellow vest movement, protest for the third time in a week to demand lower taxes and the fair handling of tax disputes. By Ralph Jennings. SENT: 500 words, photos.

CHINA-CORRUPTION CASE — China’s former deputy intelligence chief was sentenced Thursday to life in prison for corruption. SENT: 280 words, photos.

VATICAN-MONEY LAUNDERING — The Vatican’s criminal tribunal has convicted an Italian builder of using his accounts in the Vatican bank to launder money and sentenced him to 2½ years in prison. SENT: 250 words.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Rotten deal

Prepared meal delivery company Blue Apron Holdings has had a stellar week, rising more than 20 percent, but the stock is still down more than 70 percent this year as investors worry the meal delivery trend is coming to a quick end.

CENTERPIECE

Twitter: Worse to come in ’19

Twitter has largely escaped the regulatory scrutiny seen this year with Facebook. That might change in 2019 after a report on it by human-rights group Amnesty International criticized the social network’s toxic online culture.

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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