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BC-Business News Digest

August 9, 2018

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.

TOP STORIES:

SINCLAIR TRIBUNE TERMINATED — The $3.9 billion buyout of Tribune Media by Sinclair collapses, ending a bid to create a massive media juggernaut that could have rivaled the reach of Fox News. SENT: 500 words, photo.

ALBERTSONS RITE AID DEAL — Drugstore chain Rite Aid and grocer Albertsons say they have called off their merger deal. Rite Aid CEO John Standley says that after hearing the views of shareholders, the company is “committed to moving forward and executing our strategic plan as a standalone company.” By Tom Murphy. SENT: 550 words, photo.

SAMSUNG’S NEXT PHONE — Samsung’s new smartphone illustrates the limits of innovation at time when hardware advances have slowed. By Anick Jesdanun. SENT: 700 words, photos, video.

REINING IN RIDE HAIL — Other major U.S. cities might follow New York’s moratorium on new ride-hailing licenses, the those restrictions are part of a widening regulatory crackdown that threaten to curtail the growth of Uber as the company prepares to go public next year. By Michael Liedtke. UPCOMING: 500 words, photo by 4 p.m.

SMALL DAIRIES FIGHT BACK — Small family operated dairy farms with cows freely grazing on verdant pastures are going out business as large confined animal operations with thousands of animals lined up in assembly-line fashion are expanding into the organic market. By David Pitt. SENT: 800 words, photos.

MARKETS & ECONOMY:

TAX OVERHAUL-SMALL BUSINESS-WINNERS AND LOSERS — Architects and engineers are still in. Accountants, doctors and lawyers remain out — mostly. New rules floated by the Trump administration lay out what kinds of businesses can take a 20 percent deduction against income taxes under the new tax law. By Marcy Gordon. SENT: 700 words, photo. Moved in previous cycle.

FINANCIAL MARKETS — Major U.S. indexes are little changed as technology stocks rise while energy companies and banks slip. Bond prices rose, sending yields lower, after the Labor Department reported that wholesale prices were little changed in July, a sign inflation pressures weakened slightly. By Marley Jay. SENT: 850 words, photos. UPCOMING: Will be updated through the close of trading on Wall Street.

OF MUTUAL INTEREST FAANG FUMBLE — Facebook and a handful of other giant tech companies have been some of the stock market’s biggest gainers in recent years, but after they took big losses in July, some investors have shifted their attention to other companies in the technology sector. By Marley Jay. UPCOMING: 350 words, graphic by 2 p.m.

PRODUCER PRICES — U.S. wholesale prices were unchanged in July after two months of large increases, a sign inflation pressures have softened. By Christopher Rugaber. SENT: 400 words, photo.

MORTGAGE RATES — Long-term U.S. mortgage rates are down this week amid a restrained home buying season this summer. SENT: 250 words, photo.

INDUSTRY:

TRAVEL-SPA SHOW. The spa and beauty industry is growing so fast that 30,000 jobs are going unfilled. A “Get Your Dream Job” campaign is aiming to change that. By Beth Harpaz. SENT: 750 words, photos.

IMMIGRATION-BUSINESSES TARGETED — A large federal law enforcement operation targets businesses in Nebraska and Minnesota that officials say knowingly hired — and mistreated — immigrants who are in the U.S. illegally. By Margery A. Beck. SENT: 750 words, photo, video.

INTERNATIONAL:

INDIA IKEA STORE — Band music and loud cheers greet hundreds of customers as Swedish home furnishings giant IKEA opens its first store in India, five years after it received approval to invest in the country’s single-brand retail sector. SENT: 250 words, photos.

JAPAN AUTOS FALSIFIED DATA — Suzuki, Mazda and Yamaha admit using falsified emissions data to inspect their new vehicles in a product quality scandal in Japan’s auto industry. By Mari Yamaguchi. SENT: 300 words, photos.

IRAN CAFE — A popular cafe is Tehran’s bustling Vanak Square is entirely run by people with Down Syndrome or autism. By Mohammad Nasiri. SENT: 660 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Rite Aid has scrapped plans for a merger with grocery chain Albertsons after the deal to create a leader in food and health attracted opposition from a major shareholder.

CENTERPIECE

Where did restaurant customers go?

McDonald’s, Starbucks, Chipotle and Dunkin’ Donuts all reported higher sales at locations open at least a year. But that was because they raised prices and promoted more expensive items or sides, not because they attracted more diners.

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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