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.
ELECTION 2018-ECONOMIC IMPACT — A newly Democratic-led House and a Senate remaining in Republican hands and aligned with President Donald Trump are expected to mean continued gridlock on any major economic initiatives. Each side has spoken favorably of infrastructure spending and a cap on drug prices, but the poisonous atmosphere in Washington and mandated spending limits are likely to block or at least slow progress. By Josh Boak. UPCOMING: 800 words by 4 p.m.
FINANCIAL MARKETS — Stock and bond prices are climbing after Democrats won control of the House of Representatives in the U.S. midterm elections, while Republicans kept a majority in the Senate. Big-name technology and consumer companies are making some of the largest gains. By Marley Jay. SENT: 900 words, photos. UPCOMING: Will be updated through 5 p.m.
FINANCIAL MARKETS-ELECTION IMPACT — A look at how various market sectors and stocks reacted to the election results. Health insurers rallied as the likelihood of repealing the Affordable Care Act diminished, while a dialysis services company surged after California voters rejected a measure that would have capped profits at dialysis clinics. By Marley Jay. UPCOMING: 500 words by 2 p.m., photos.
ON THE MONEY-PAYDAY LENDING — Financial technology company Even shared data exclusively with The Associated Press that showed that its users were less likely to use payday loans once they signed up for the service. Even allows its users to take advances on their next paycheck, not charging any interest. By Ken Sweet. SENT: 640 words, photos.
SMALLBIZ-SMALL TALK-SOURED PARTNERSHIPS — The failure of a partnership often brings hard lessons for company owners. Problems often start when prospective partners don’t think through all the ramifications of what they’re doing — including whether they’ll be a good fit. By Joyce M. Rosenberg. SENT: 1,000 words, photos.
SMALLBIZ-PARTNERSHIPS-TIPS — When small business owners want to take on partners, the selection process needs to be carried out thoughtfully and deliberately. The wrong choice can doom not only the partnership, but the company. By Joyce M. Rosenberg. SENT: 400 words.
MARKETS & ECONOMY:
CONSUMER BORROWING — The Federal Reserve releases its September report on consumer borrowing. By Martin Crutsinger. UPCOMING: 130 words after release of report at 3 p.m. 300 words by 3:45 p.m.
CHINA-SINKING YUAN — China’s foreign currency reserves declined in October in a sign Beijing might be intervening in the market to keep its yuan from falling too far against the dollar and triggering a possible U.S. backlash amid a tariff battle. SENT: 460 words, photo.
GERMANY-EARNS-BMW — Germany luxury automaker BMW says its net profit fell 24 percent in the third quarter as the company spent more on new technology and faced market disruptions due to other companies failing to get vehicles certified in time for new European Union emissions tests. By David McHugh. SENT: 400 words.
CHINA-NEW DRONE — A Chinese state-owned company says it is developing a stealth combat drone in the latest sign of the country’s growing aerospace prowess. By Dake Kang and Christopher Bodeen. SENT: 850 words, photos.
INDONESIA-LION AIR CRASH — A crucial sensor that’s the subject of a Boeing Co. safety bulletin was replaced on a Lion Air jet the day before it plunged into the Java Sea, Indonesia’s National Transportation Safety Committee says. By Niniek Karmini and Andi Jatmiko. SENT: 560 words, photos.
BRITAIN-PERSIMMON CEO — The head of British housebuilding company Persimmon is stepping down at the end of the year following an uproar over revelations he received a bonus of 75 million pounds ($99 million). SENT: 130 words.
F1-HANOI RACE — A Grand Prix in Hanoi will be added to the Formula One calendar in 2020 as part of the sport’s expansion in Asia. By Tran Van Minh. SENT: 350 words, photos.
TECHNOLOGY & MEDIA:
ELECTION 2018-FACEBOOK — Facebook’s recent disclosures on blocking suspicious accounts show that the company’s efforts to root out election meddling are working — to a point. What’s not clear is whether there will be a clear end to this “whack-a-mole” fight. By Barbara Ortutay. SENT: 140 words, UPDATE 500 words by 4 p.m., photos.
BRITAIN-FAKE NEWS — Facebook CEO Mark Zuckerberg has rejected a request to appear before an international parliamentary committee delving into the questions around fake news. SENT: 140 words, photos.
ELECTION 2018-FACEBOOK — Facebook says it blocked more accounts on Election Day, in addition to the 115 it shut down earlier this week, due to suspected connections to foreign efforts to interfere in the vote. SENT: 130 words, photo.
CDK GLOBAL-CEO-KRZANICH — The former CEO of Intel is being named as the top executive at CDK Global, a company that provides technology to auto dealers. SENT: 130 words, photo.
BEHIND THE WHEEL-SAFETY FEATURES — Automakers are rapidly installing advanced safety systems in their vehicles. Consumers are slow to adapt, however. Edmunds explains what you need to know. By Brent Romans of Edmunds. SEN T: 700 words, photo.
EUROPE-ECONOMY — A new survey suggests the digital technologies sweeping through the corporate world could mean some job losses at big companies, but it’s unclear what impact they will have on consumer prices. By David McHugh. SENT: 180 words, photo.
EUROPE-BANKING SUPERVISOR — The European Central Bank’s leadership has nominated financial regulator Andrea Enria for the job of top EU banking supervisor. SENT: 330 words.
BREXIT — British Prime Minister Theresa May and European Council President Donald Tusk spoke by phone amid signs of movement in deadlocked Brexit talks. By Jill Lawless. SENT: 400 words, photos.
AUSTRALIA-SPY CHARGED — Lawyers prosecuting a former spy and his lawyer who accuse Australia of illegally bugging the East Timorese Cabinet while negotiating a deal to share oil and gas revenue have made an application that could lead to the court being closed during the trial. By Rod McGuirk. SENT: 670 words.
AUSTRALIA-CHINESE INVESTMENT — The Australian government warned it intends to block a Hong Kong and Chinese consortium’s 13 billion Australian dollar ($9 billion) takeover bid for an energy infrastructure company because it conflicts with Australia’s national interest. By Rod McGuirk. SENT: 740 words, photo.
GERMANY-ECONOMY — The German government’s panel of independent economic advisers has cut its growth forecast for this year, citing a tougher foreign trade environment, among other issues. SENT: 140 words, photo.
ELECTION-GLOBAL IMPACT — The Democratic victory in the U.S. House of Representatives could echo from Moscow to Beijing to Riyadh, with empowered Democrats now able to launch new investigations into President Donald Trump’s international business empire and his political dealings with other nations. By Tim Sullivan and Angela Charlton. SENT: 910 words, photos.
MONEY & MARKETS SUMMARY:
A crafty surprise
Shares in Etsy soared after the online crafts marketplace disclosed a bigger profit and more revenue than analysts expected.
Hispanic workers key to job growth
Nearly half of the 2.7 million jobs created over the last year have been filled by people of Hispanic and Latino descent, demonstrating their importance to healthy economic growth.
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