BC-APFN-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.
GADGET SHOW-VIRTUAL REALITY-FAILURE TO LAUNCH — Once again, virtual reality (and augmented reality) have been touted as the next big thing and once again, they have failed to take off despite high-profile hardware debuts and splashy ad campaigns. Clunky headsets and a lack of compelling VR software has held the industry back. By Mae Anderson. SENT: 780 words, photos.
CHINA-TRADE — Markets are up after talks aimed at ending the U.S.-China trade war wrapped up. No details have been announced, but President Donald Trump tweeted that they were “going very well.” The talks were the first face-to-face meetings since Trump and Xi Jinping agreed to suspend further tariff increases while they negotiate. By Joe McDonald. SENT: 1,150 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Stocks around the world built on their early 2019 rally Wednesday after negotiators from the U.S. and China extended their trade talks to a third day, which investors took as a sign the discussions were productive even though no major breakthroughs have been announced. Oil prices also continued to climb and stocks linked to faster economic growth, such as technology companies, kept climbing. By Marley Jay. SENT: 800 words, photos. UPCOMING: Will be updated through 5 p.m.
FEDERAL RESERVE-MINUTES — The Federal Reserve releases minutes from its December meeting when it raised its benchmark interest rate for the fourth time this year. By Martin Crutsinger. UPCOMING: 130 words after 2 p.m. release. 350 words by 2:45 p.m.
SAUDI-OIL — Saudi Arabia, one of the world’s largest oil producers, says it has 268.5 billion barrels of proven crude oil reserves, a figure higher than previously known. SENT: 140 words.
JAPAN-NISSAN — Nissan is showing the beefed up version of its hit Leaf electric car as the Japanese automaker seeks to distance itself from the arrest of its star executive Carlos Ghosn. By Yuri Kageyama. SENT: 460 words, photos.
JAPAN-NISSAN-GHOSN — The appeal by the lawyers of Carlos Ghosn, Nissan’s former chairman, against his prolonged detention since his arrest Nov. 19 is rejected by the Tokyo District Court. By Yuri Kageyama. SENT: 370 words, photos.
CANADA-GM CLOSURE — Unionized workers at the General Motors assembly plant in Oshawa, Ontario, are holding another sit-down protest over the planned closure of the facility that would lead to the loss of 3,000 jobs. SENT: 130 words.
HERBALIFE-CEO — Shares of Herbalife are down more than 2 percent after the resignation of CEO Richard Goudis over comments he made before he became the company’s top executive. SENT: 130 words, photo.
TRANSCANADA-NAME CHANGE — TransCanada Corp., the company behind the contentious Keystone XL oil pipeline, is changing its name to TC Energy. SENT: 130 words, photo.
SUPER BOWL TICKETS-LAWSUIT — A lawsuit claiming the NFL violated New Jersey’s consumer fraud laws with its ticketing policies for the 2014 Super Bowl at MetLife Stadium has been dealt a defeat in court. By David Porter. SENT: 450 words.
CHRYSLER BUILDING — The owners of New York City’s Chrysler Building are putting the landmark Art Deco skyscraper on the market. SENT: 210 words, photos.
BOEING-AIRBUS-PLANES — Boeing narrowly beats Airbus in airliner deliveries to remain world’s biggest seller of commercial aircraft. SENT: 120 words.
TOYOTA-AIR BAG RECALL — Toyota is recalling 1.3 million vehicles in the U.S. to replace potentially deadly Takata front passenger air bag inflators. SENT: 130 words.
NFL CONCUSSION CASE — The NFL is dropping efforts to fight certain dementia diagnoses in a landmark concussion case after lawyers for players accused the league of trying to delay payments and rewrite the $1 billion settlement. SENT: 140 words.
TECHNOLOGY & MEDIA:
VIETNAM-FACEBOOK — Facebook defends itself against allegations that it allows illegal content in violation of Vietnam’s new cybersecurity law. SENT: 430 words, photo.
JEFF BEZOS-DIVORCE — Amazon founder and CEO Jeff Bezos said he and his wife MacKenzie have decided to divorce after 25 years of marriage. By Joseph Pisani. SENT: 200 words, photos.
ON THE MONEY-RIDE-HAILING SUBSCRIPTIONS — Ride-hailing giants Uber and Lyft have launched subscription plans promising savings for trips to the gym, to work or around town. But customers should figure out if the numbers add up before committing to one ride provider. By Cathy Bussewitz. SENT: 920 words, photos.
BEHIND THE WHEEL-CAR TECH TRENDS — CES in Las Vegas gives us a glimpse of where automakers believe vehicles are headed in the future. Here are a few near-term trends and some that might not materialize any time soon. By Ronald Montoya of Edmunds. SENT: 850 words, photo.
SMALLBIZ-SMALL TALK-TAX PREPERATION — Millions of small business owners will be in uncharted waters this tax season as they try to determine if they qualify for a deduction that could exempt one-fifth of their income from taxes. By Joyce M. Rosenberg. SENT: 900 words, photos.
SMALLBIZ-TAX PREPERATION-TIPS — Some tips for business owners to make this tax-filing season easier. SENT: 400 words.
EUROPE-ECONOMY — Official figures show that unemployment across the 19-country eurozone fell in November to a decade-low rate of 7.9 percent but worries over the economic outlook have stoked concerns that it may not fall much lower. By Pan Pylas. SENT: 520 words, photo.
BREXIT — Britain’s battle over Brexit turned into political trench warfare between Parliament and the government Wednesday, as Prime Minister Theresa May brought her little-loved EU divorce agreement back to lawmakers who appear determined to thwart her plans. By Jill Lawless. SENT: 860 words, photos.
SOUTH KOREA-JAPAN-FORCED LABOR — A South Korean court orders the seizure of local assets of a Japanese company after it refused to compensate Korean laborers who were forcibly employed during Japan’s colonial rule, in an escalation of a diplomatic brawl between the Asian neighbors. By Hyung-Jin Kim. SENT: 620 words, photos.
MONEY & MARKETS SUMMARY:
J.C. Penney shares surged after the department store reported better-than-expected holiday season sales and said it still expects its business to be profitable this fiscal year.
Bonds breaking the banks
A sudden drop in bond yields over the past month has weighed particularly hard on bank stocks. Lower bond yields can be a sign investors are concerned about the future of the U.S. economy.
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