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BC-Business News Digest

November 16, 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:

EUROPE RECESSION RISKS — Europe’s five-year economic expansion is facing a mid-life crisis as it copes with a potential debt explosion in Italy, a U.S.-China trade war and the risk of a disorderly British exit from the European Union. By David McHugh. SENT: 920 words, photos.

With:

BREXIT — British Prime Minister Theresa May appeals directly to voters to back her Brexit plan as she waited to see whether rivals within her party have gained enough support to launch a leadership challenge. By Jill Lawless. SENT: 1,000 words, photos.

With:

BREXIT-IRISH CONCERNS — Families and business owners near the Irish border that separates the United Kingdom from the rest of the EU are watching in apprehension as political chaos in London threatens to torpedo a Brexit deal that aims to avoid a return of customs checks and possible sectarian violence to the region. By Renata Brito. SENT: 700 words, photos.

— More on Europe in International section

MEDIA-CNN VS TRUMP — A federal judge ordered the Trump administration to immediately return the White House press credentials of CNN reporter Jim Acosta. By Jessica Gresko and Mike Balsamo. SENT: 730 words, photos.

NKOREA MONEY MYSTERY — One of the biggest mysteries among North Korea economy watchers is how the country has managed to maintain stable exchange rates despite intense sanctions, political tensions and a swelling trade imbalance. Understanding the North Korean economy is essential for negotiators trying to gauge how seriously leader Kim Jong Un is about giving up his nuclear weapons. And this one is real head scratcher. By Eric Talmadge. UPCOMING: 880 words by 8 p.m., photos.

FAO SCHWARZ REBORN — Three years after it closed its beloved toy store on Fifth Avenue, FAO Schwarz is making a return to New York. A new FAO opens Friday in Manhattan’s Rockefeller Center, about 10 blocks from its former home near Central Park. By Verena Dobnik. SENT: 580 words, photos.

EGYPT-ABANDONING CAIRO — Billboards across Cairo advertise luxury homes with “breathtaking” views in compounds with names like “La Verde” or “Vinci” in Egypt’s new capital that is under construction in the desert, miles from the Nile-side city which has been the seat of power for more than 1,000 years. By Hamza Hendawi. SENT: 890 words, photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stock indexes decline in midday trading as losses in retailers and internet and technology companies outweighed gains elsewhere in the market. Health care companies and utilities were among the big gainers. Energy stocks rose as crude oil prices headed higher for the third day in a row. By Alex Veiga. SENT: 580 words, photos. UPCOMING: Will be updated through 5 p.m.

INDUSTRIAL PRODUCTION — U.S. industry expanded as a slower pace in October, with manufacturing growth offsetting declines in mining and utility production. By Martin Crutsinger. SENT: 410 words, photos.

INDUSTRY:

CHRISTMAS TREE SUPPLY — A tight supply of Christmas trees means shoppers may not get the exact specimen they want but there are enough evergreens to go around. UPCOMING by 2 p.m.

VOLKSWAGEN — Automaker Volkswagen says it will invest 44 billion euros ($50 billion) in developing autonomous and electric cars and expand the appeal of battery-powered cars by selling its upcoming ID compact for about what a diesel-powered Golf costs. By David McHugh. SENT: 480 words, photo.

CYPRUS-US-DRILLING — A U.S. State Department official says Washington sees “great promise” in developing energy resources in the eastern Mediterranean as ExxonMobil began exploratory drilling off Cyprus’ southwestern coast. SENT: 150 words, photos.

TURKEY SALMONELLA — Jennie-O-Turkey is recalling more than 91,000 pounds of raw turkey in an ongoing salmonella outbreak. SENT: 280 words, photos.

OIL PIPELINE SECURITY — North Dakota regulators are seeking up to $2 million in fines from a North Carolina company that handled security for the developer of the heavily protested Dakota Access oil pipeline. The figure is in a new complaint that the state Private Investigative and Security Board has filed against TigerSwan. SENT: 470 words.

JELL-O-EDIBLE SLIME — Kids will soon be able to eat AND play with their food. SENT: 130 words.

GIFT GUIDE-NO PLASTIC STRAWS — If you’re looking to join the no-plastic-straw movement, consider an alternative as a holiday gift. Drinking straws in a variety of materials have proliferated in the wake of debate over the impact of plastic straws on sea life and the environment. By Leanne Italie. SENT: 570 words, photos.

CUBA-GOOGLE-FASHION — Models strutting in paint-stained shirts and leather construction boots have shed light on an unusual blend of Cuban private enterprise and American corporate sponsorship. By Andrea Rodriguez. SENT: 310 words, photos.

AIRBNB-BILLION DOLLAR QUARTER — Airbnb says it had its best quarter ever, even as cities across the U.S. have started clamping down on the short-term rental market. SENT: 130 words.

TECHNOLOGY & MEDIA:

AMAZON-NATIONAL LANDING — Place names in Arlington County have never been a simple matter. So it is fitting that as Arlington officials celebrated Amazon’s decision to locate a new headquarters in the area, there was a bit of confusion over the place name. By Matthew Barakat. SENT: 500 words, photos.

INTERNATIONAL:

EUROPE-ECONOMY — The head of the European Central Bank indicated a first interest rate increase could be postponed if unexpected trouble strikes the 19 countries that use the euro as their currency. By David McHugh. SENT: 370 words, photo.

APEC-XI JINPING — As world leaders land in Papua New Guinea for a Pacific Rim summit, the welcome mat is especially big for China’s president. By Stephen Wright. SENT: 1,050 words, photos.

HONG KONG-ECONOMY — Hong Kong’s economic growth sank to a two-year low in the latest quarter and the government warned it will face headwinds from U.S.-Chinese trade tension, weakening global demand and higher interest rates. SENT: 300 words.

CHINA-HOTEL SCANDAL — Chinese authorities are inspecting several major international hotels after hidden camera video showed room cleaning workers using soiled towels to clean cups and glasses and other questionable practices. SENT: 320 words, photos.

IRAQ-OIL — Iraq’s Oil Ministry says Iraq has resumed exports from its oil fields around Kirkuk, one year after the city was seized by federal forces from the autonomous Kurdish administration in the north of the country. SENT: 280 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Cast off

Williams-Sonoma shares fell to a six-month low after the upscale kitchenware retailer said its third-quarter sales suffered from disruption tied to new U.S. tariffs on Chinese imports.

CENTERPIECE

A tale of two stores

Heading into the holidays, Macy’s and J.C. Penney face far different fortunes: Macy’s says innovation is driving faster profit growth, while J.C. Penney is still trying to figure out its identity.

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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