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BC-APFN-Business News Digest

August 20, 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:

LONGEST BULL MARKET — Rising from the ashes of the financial crisis and fueled by low interest rates, the steady recovery of the U.S. economy and the rise of game-changing tech companies, the current bull market is set to become the longest ever on Wednesday. A look at how it achieved that honor, and where the market goes from here. By Bernard Condon. SENT: 1,220 words, photos, graphics.

GREECE BAILOUT-WHAT’S LEFT — For all the official pronouncements that Greece’s eight-year crisis will be over as its third and last bailout program ends Monday, few Greeks see cause for celebration. The economy is once again growing modestly, state finances are improving, exports are up and unemployment is down from a ghastly 28 percent high. But one in five Greeks is still unemployed. By Nicholas Paphitis. SENT: 1,000 words, photos.

With: GREECE BAILOUT-TIMELINE

US-CHINA TARIFFS-PLEAS FROM US COMPANIES — Fishermen complain that their catch will be taxed upon return to the U.S. from processing in China. A Utah semiconductor company fears higher costs for materials it imports from China. Starting Monday, the Trump administration will receive a rush of pleas from companies that say they’d suffer if the administration proceeds with tariffs on an additional $200 billion in imported Chinese goods. They represent further examples of how the trade wars the Trump administration is engaged in pose threats to American individuals and companies. By Paul Wiseman. SENT: 990 words, photos.

VENEZUELA-ECONOMIC CRISIS — Venezuela begins to launch dramatic reforms announced by President Nicolas Maduro to rescue a downward-spiraling economy, including a new currency and a more-than-3,000 percent hike in the minimum wage. By Scott Smith. SENT: 800 words, photos.

ISRAEL-SODASTREAM — PepsiCo buys carbonated drink maker SodaStream for $3.2 billion, a move the beverage giant hopes will further help it adjust as consumers drink less traditional soda and opt more for flavored waters and other drinks. By Aron Heller. SENT: 510 words, photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stock indexes give up some of an early gain and are mostly higher in midday trading. By Alex Veiga. SENT: 430 words. UPCOMING: 700 words by 5 p.m.

NABE-SURVEY OF ECONOMISTS — U.S. business economists are concerned about the risks of some of President Donald Trump’s economic policies, saying they fear his tariffs and higher budget deficits could eventually slow the economy. By Josh Boak. SENT: 500 words.

SMALLBIZ-GET STARTED — The latest retail sales report from the government augurs well for small and independent retailers for the fourth quarter, with one possible snag: the impact of trade tariffs. By Joyce M. Rosenberg. SENT: 440 words.

INDUSTRY:

SPORTS BETTING-COLLEGE INTEGRIY FEES — Concerned that expanded sports gambling will bring additional costs for ensuring their games are on the up-and-up, college athletic departments are looking for a way to get a piece of the action. SENT: 1,210 words, photos.

IRAN-FRANCE’S TOTAL — Iran’s oil minister says that France’s oil giant Total SA has officially pulled out of Iran after cancelling its $5 billion, 20-year agreement to develop the country’s massive South Pars offshore natural gas field over renewed U.S. sanctions. By Nasser Karimi. SENT: 440 words, photos.

VENEZUELA-CONOCO SETTLEMENT — U.S. oil giant ConocoPhillips reaches an agreement with Venezuela’s state-owned oil company to recover nearly $2 billion it was awarded as part of a decade-old expropriation dispute. SENT: 130 words.

WOMEN IN WORKPLACE — A former Silicon Valley CEO is taking over the helm of one of the oldest organizations dedicated to the promotion of women in the workplace. Lorraine Hariton becomes CEO of Catalyst at time when sexual misconduct scandals are ensnaring corporate executives, and the departure of PepsiCo’s CEO highlighted the tiny number of women leading Fortune 500 companies. She says the “timing is fantastic” as the #MeToo movement helps generate more interest in gender equality. SENT: 130 words. UPCOMING: 300 words by 5 p.m. AP Photos planned.

TECHNOLOGY & MEDIA:

PET TECHNOLOGY — Fitness trackers for pets are becoming more complex and enjoying sales as part of a boom in goods for pets. By Adam Pemble. SENT: 460 words, photos.

PERSONAL FINANCE:

NERDWALLET-LIZ WESTON-WORST-TIME-RETIREMENT — Investors are waiting for a correction as the bull market inches closer to its 10th year. For those retiring or near retirement, it’s not time to panic. Instead, work on a plan to prepare for the inevitable downturn. By Liz Weston, NerdWallet. SENT: 820 words, photos.

INTERNATIONAL:

CHINA-MALAYSIA — Malaysia’s leader says that he hoped China would sympathize with his country’s fiscal problems as he met with the country’s leaders after suspending multibillion-dollar construction projects financed by Chinese loans. By Christopher Bodeen. SENT: 800 words.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Estee Lauder shares jumped to a nearly two-month high after the New York-based cosmetics giant reported strong profit and sales in its fiscal fourth quarter.

CENTERPIECE

Eating out

Americans are splurging at restaurants and bars this summer, with spending on eating and drinking out soaring by fastest quarterly increase since records began in 1992.

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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