BC-APFN-Business News Digest
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.
US-CHINA TARIFFS-A WAY OUT? — The U.S.-China trade war offers no simple path to a resolution. The U.S. insists that China drop its aggressive push to achieve global supremacy in technology, but no one thinks President Donald Trump would quickly accept any Chinese pledges to adopt reforms. Still, here are three potential ways out of the crisis, even if none seems likely anytime soon. By Paul Wiseman and Christopher Rugaber. UPCOMING: 900 words by 3 p.m.
— US-CHINA-TARIFFS — European companies that export from China are changing the global flow of their goods to avoid higher American tariffs, a business group says, in a sign of the spreading impact of the U.S.-Chinese trade war. By Joe McDonald. SENT: 450 words, photos.
— PANAMA-CHINA — Officials from Panama and China are meeting in the opening round of talks to reach a free trade agreement, one year after the two countries established diplomatic relations. SENT: 130 words.
APPLE-APP STORE ANNIVERSARY — Our lives spun into a dizzying new direction a decade ago when Apple opened a store peddling iPhone apps to meet our every need and desire, including some things we never imagined doing on a mobile device. By Michael Liedtke. SENT: 500 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS —U.S. stocks are higher Tuesday, led by technology and household goods companies. PepsiCo is gaining ground after reporting solid second-quarter results. The market has risen recently as investors expect strong earnings reports from various industries in the next few weeks. By Marley Jay. SENT: 700 words, photos. UPCOMING: Will be updated through 5 p.m.
JOB OPENINGS —Businesses advertised fewer jobs in May than the previous month, but the tally of open positions outnumbered the ranks of the unemployed for only the second time in the past two decades. By Christopher Rugaber. SENT: 560 words, photos.
POMPEO-EMIRATES — U.S. Secretary of State Mike Pompeo says that America and its Gulf Arab allies want to show Iran that its actions have “a real high cost,” stepping up his warnings after Tehran threatened to disrupt Mideast oil supplies. By Matthew Lee and Jon Gambrell. SENT: 760 words, photos.
EARNS-PEPSICO — PepsiCo’s second-quarter was weighed down by a higher tax rate it’s still trying to figure out what Americans want to drink now, but its adjusted profit beat Wall Street expectations and revenue improved. SENT: 370 words, photos.
SUPREME COURT-KAVANAUGH-BUSINESS — Business groups were quick to praise President Donald Trump’s Supreme Court nominee, Brett Kavanaugh, as an ally of corporate America who has shown himself to be a skeptic of efforts to expand government regulation or consumer protections. Consumer groups and unions vowed to oppose his nomination, though most court analysts say Kavanagh would not likely alter an already business-friendly court’s approach to such issues. By Christopher Rugaber. UPCOMING: 600 words by 3:30 p.m.
CHINA-BMW-ELECTRIC MINI — BMW Group and the biggest Chinese SUV brand, Great Wall Motor, announce a partnership to produce electric MINI vehicles in China as global automakers ramp up development under pressure from Beijing. SENT: 430 words, photos.
SOUTHWEST AIRLINES-PEANUTS — Southwest Airlines will stop giving away peanuts on flights next month, ending a tradition that goes back decades. SENT: 130 words.
BACK TO SCHOOL-OUTSOURCING LUNCH — Food-delivery services are remaking school lunch. Many parents still make their kids’ lunch, of course, or sign up for a hot-lunch program through school. But others are ordering from companies that deliver meals to home or school. Some services work with schools to provide food from local restaurants. As for individual lunch deliveries, some schools allow it and others don’t. By Melissa Kossler Dutton. SENT: 760 words, photos.
SMUCKER-PATH FORWARD — J.M. Smucker is doing just about everything asked of it in trying to find areas of faster growth, while ditching some of the packaged foods that fewer people seemingly want. SENT: 530 words, photos.
HARD ROCK-SPORTS BETTING —Hard Rock has signed a deal with a British online gambling company to offer sports betting as soon as the arrangement is approved by New Jersey gambling regulators. SENT: 370 words, photos.
TRUMP-CLIMATE PLAN — The Trump administration is advancing its plan to replace the centerpiece of President Barack Obama’s efforts against global warming with a new rule expected to be friendlier to the coal industry. By Matthew Brown. SENT: 140 words, photos.
TECHNOLOGY & MEDIA:
JAPAN-SOFTBANK — Japanese internet company SoftBank Corp. is investing about $2 billion to raise its stake in Yahoo Japan through an acquisition from U.S. investment company Altaba Inc. By Yuri Kageyama. SENT: 300 words, photo.
SHARING ECONOMY-CAMPING — A land-sharing startup called Tentrr matches landowners looking for extra cash with vacationers yearning for solitude under the stars. By Mary Esch. SENT: 610 words, photos.
TEMPLE BUSINESS SCHOOL-FALSIFIED RANKINGS — The dean of Temple University’s business school has been forced out over falsified data submitted to rankings organizations about its online master’s program. SENT: 300 words.
CHINA-TESLA — Electric car producer Tesla says it will build its first factory outside the United States in Shanghai. By Joe McDonald. SENT: 600 words, photos.
WCUP-ENGLAND-THEATERS — As England and Croatia prepare to face off in the World Cup semi-final on Wednesday, theater and concert-goers are trying to get rid of tickets so they can watch the soccer. Some venues are cancelling shows, while others are bracing for a dismal night of empty seats. By Robert Stevens. SENT: 570 words, photos.
NERDWALLET-ASK BRIANNA-MONEY FIGHT — Don’t avoid conflicts that could end up teaching you valuable information about your romantic partnership. Start talking about money early, get into the details, and make it a goal that you’ll both walk away from every argument feeling respected and understood. By NerdWallet columnist Brianna McGurran. SENT: 740 words, photos.
BACK TO SCHOOL-NERDWALLET-LIST TIPS — Back-to-school season can be hard on your wallet. To save money, prioritize the things your children really need for school over the things they just want. And you can skip some products altogether. By NerdWallet columnist Courtney Jespersen. SENT: 800 words, photos.
CHINA-ARAB STATES — China’s President Xi Jinping pledged more than $23 billion in lines of credit, loans and humanitarian assistance to Arab countries Tuesday in a major push for influence in the region from which China sources much of its energy needs. SENT: 270 words, photos.
EUROPE-ECONOMY — A survey of investor confidence in the German economy has fallen to its lowest level since August 2012 on fears of an international trade war. SENT: 130 words, photo.
BRITAIN-ECONOMY — The British economy expanded by 0.3 percent in May from the previous month, a strong performance that is likely to further bolster expectations that the Bank of England will raise interest rates next month. SENT: 130 words.
BRITAIN-POLITICS — British Prime Minister Theresa May has met with her Cabinet as she tries to restore government unity after the resignations of two top ministers over Brexit. By Jill Lawless. SENT: 480 words, photos.
CUBA-PRIVATE BUSINESS — The Cuban government will allow new restaurants, bed-and-breakfasts and transportation businesses by the end of the year, reopening the most vibrant sectors of the private economy after freezing growth for more than a year. SENT: 140 words.
ISRAEL-LUNAR MISSION — An Israeli organization said Tuesday that it hopes to become the first non-governmental entity to land a spacecraft on the moon when it attempts to launch a module later this year. By Ilan Ben Zion. SENT: 450 words.
MONEY & MARKETS SUMMARY:
Pepsi cashes in its chips
PepsiCo shares jumped to a four-month high after Frito Lay’s sales growth in North America helped offset weakness in the Gatorade and Mountain Dew maker’s beverage division.
No matter how many challenges get thrown at the stock market, one pillar of support is helping to prop it up: corporate profits continue to soar.
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