BC-Business News Digest
BC-Business News Digest
Aug. 01, 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.
FEDERAL RESERVE — The Federal Reserve releases its latest monetary policy statement after a two-day meeting. It is widely expected to keep interest rates on hold. By Martin Crutsinger. UPCOMING: 130 words at 2 p.m. 500 words by 2:30 p.m.
FEDERAL RESERVE-LOOKAHEAD — When the Federal Reserve wraps up its latest meeting, it will likely point to strong economic growth, low unemployment and rising inflation as reasons to stay on a path of gradually lifting interest rates. It is unlikely, however, to make any interest rate moves Wednesday. By Martin Crutsinger. SENT: 600 words, photo.
FACEBOOK-ELECTION INTERFERENCE-ARMS RACE — Facebook is spending heavily to avoid a repeat of the Russian interference that played out on its service in 2016. But is it fighting the last war? Its adversaries are wily, more adept at camouflaging themselves and apparently aren't always detectable by Facebook's much-vaunted AI systems. By Matt O'Brien and Ryan Nakashima. UPCOMING: 600 words by 4 p.m., photos.
SMALLBIZ-SMALL TALK-PAID SICK LEAVE — Running a small business can be more expensive and complex for owners subject to the growing number of state and local laws that mandate paid sick time. Owners with staffers in different cities or states must decide how much sick leave to give all their workers. They also have higher administrative costs. Still, the trend in the U.S. is toward more companies offering paid sick leave, either because owners see it as a benefit staffers want or because of the laws in 10 states and many big cities. By Joyce M. Rosenberg. SENT: 880 words, photos.
RISING CONSUMER PRICES — Consumers face higher prices as companies pass along higher costs for fuel and raw materials and start feeling the effects of trade disputes. Companies warn that items ranging from canned beverages to airline tickets will likely get more expensive as they face higher costs. Some shoppers say they've already noticed a rise in prices. By Damian J. Troise and Sarah Skidmore Sell. SENT: 780 words, photo.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Apple is on pace for its biggest gain in a year and a half Wednesday as investors cheer its latest quarterly report, which included strong iPhone sales and a forecast that was better than expected. By Marley Jay. SENT: 1,030 words, photos. UPCOMING: Will be updated through 5 p.m.
ADP EMPLOYMENT — U.S. businesses added 219,000 jobs in July, a private survey found, a robust total that suggests employers are still able to find the workers they need despite the low unemployment rate. By Christopher Rugaber. SENT: 360 words, photos.
CONSTRUCTION SPENDING —Spending on U.S. construction projects fell 1.1 percent in June, the biggest decline in more than a year as spending on public construction dropped at the highest rate in more than five years. By Matt Ott. SENT: 260 words, photos.
ECONOMY-MANUFACTURING — U.S. factories grew at a slower pace in July, but American industry remains healthy. By Paul Wiseman. SENT: 270 words, photos.
US-CHINA TARIFFS — China's government warns it will retaliate if Washington imposes new trade penalties, following a report the Trump administration will propose increasing the tariff rate on an additional $200 billion of Chinese imports. SENT: 250 words.
EUROPE-US-TRADE — European Union imports of U.S. soybeans were already rising substantially before a top EU official told President Donald Trump last week that the bloc would buy more. SENT: 190 words, photos.
EARNS-TESLA — Tesla's second-quarter revenue should rise by more than $1 billion as it delivers more Model 3 electric cars, but analysts predict it won't be enough to stop the company's net loss from rising dramatically. When the Palo Alto, California, company reports earnings after the bell Wednesday, analysts polled by FactSet expect a net loss of $629.9 million, 87 percent worse than the same quarter a year ago. Revenue should rise 43 percent to $3.99 billion. By Auto Writer Tom Krisher. 500 words by 8 a.m. Will be updated after Tesla releases earnings after the bell. By Tom Krisher. SENT: 530 words, photos. UPCOMING: Will be updated after release of report at about 4 p.m.
VOLKSWAGEN-EARNS — Volkswagen said its earnings rose in the second quarter on record sales and fatter profit margins, but warned that "growing protectionism" is a threat to the globally connected car industry. By David McHugh. SENT: 430 words, photo.
ITALY-EARNS-FERRARI — Sports carmaker Ferrari confirms its 2018 earnings forecasts after posting an 18-percent rise in second-quarter profits and a rise in deliveries. By Colleen Barry. SENT: 280 words.
INVESTING FOR FREE — The price war among mutual fund companies is hitting a new frontier, to the further benefit of investors. By Stan Choe. SENT: 420 words.
US-FAA-CONGRESS — Congress is considering a sweeping tally of proposals that could affect travelers, from dictating seat size and legroom to rolling back rules that require airlines to advertise the full price of a ticket. By David Koenig. UPCOMING: 800 words at 2 p.m.
TRUMP-HEALTH OVERHAUL — The Trump administration is clearing the way for insurers to sell short-term health plans as a bargain alternative to pricey Obama-law policies for people struggling with high premiums. By Ricardo Alonso-Zaldivar. SENT: 890 words, photos.
PARASITE CONCERN-SALADS — Federal authorities have issued a public health alert about more than two dozen beef, pork and poultry salad and wrap products as a precaution due to possible parasite contamination. SENT: 130 words.
SPORTS BETTING — An Atlantic City casino will become the fourth in New Jersey to offer sports betting. By Wayne Parry. SENT: 200 words, photos.
AUSTRALIA-SUPERMARKET PLASTICS — A major Australian supermarket chain has come under fire from environmentalists for reversing a decision to stop providing free plastic bags to shoppers. SENT: 400 words.
KROGER-DELIVERY — Kroger is introducing online delivery as convenience becomes an increasingly crucial element in customer loyalty in a hyper-competitive atmosphere. SENT: 260 words, photos.
PLANE CRASHES-SURVIVAL — Passengers in plane crashes like Tuesday's Aeromexico accident — in which no one died — have better chances of survival due to better aircraft construction and safety standards, experts say. By David McHugh. SENT: 330 words, photos.
MOLSON COORS-POT DRINKS — Molson Coors will attempt to sell pot-infused drinks in Canada, where consumable marijuana will become legal next year. SENT: 120 words, photos.
TECHNOLOGY & MEDIA:
RUSSIAN HACKERS — The leak of an alleged Russian hacker's conversations with a security researcher shows more about the shadowy group of 12 Russian spies indicted by the FBI last month for targeting the 2016 U.S. election. The conversations show the hacker hustling for spy tools — a hint of how the Russian military intelligence officers who broke into the Democratic National Convention developed their digital lock picks. The Associated Press also has uncovered other traces of the hackers online. By Raphael Satter and Matthew Bodner. SENT: 1,390 words, photos.
ELECTION-SECURITY — As alarms blare about Russian interference in U.S. elections, the Trump administration is facing criticism that it has no clear national strategy to protect the country during the upcoming midterms and beyond. By Deb Riechmann. SENT: 1,050 words, photos.
RUSSIA-JOURNALISTS KILLED — Russian journalists who were killed in the Central African Republic had been working on an investigation into Russian private military contractors and the mining industries there, their editor says. By Maria Danilova. SENT: 480 words, photos.
AMNESTY-ISRAELI-SPYWARE — An Amnesty International employee has been targeted with Israeli-made surveillance software, the human rights group says, adding to a growing number of examples of Israeli technology being used to spy on human rights workers and opposition figures in the Middle East and beyond. By Raphael Satter. SENT: 480 words, photo. First sent late Tuesday.
ON THE MONEY-BETTER SLEEP — Lots of apps, fitness trackers, smartwatches and even mattress motion sensors claim they can diagnose or treat sleep problems. But sleep disorder doctors say there's little evidence consumer gadgets actually improve sleep. Experts say such products make people focus on and try to improve their sleep. They also say technology can help describe the problem, but can't tell you what the cause is. By Linda A. Johnson. SENT: 650 words.
BEHIND THE WHEEL-USED CARS FOR COLLEGE STUDENTS — It won't be long before incoming freshmen head off to college. That means it's prime time for students — and parents — to find suitable, affordable cars for the road ahead. Edmunds has compiled a list of used hybrid, compact and crossover SUV vehicles that best lend themselves to varied demands of college life. By Cameron Rogers. SENT: 870 words, photos.
BRITAIN-NO BREXIT DEAL — Brexit is looming and so is Armageddon, if you believe the headlines in Britain. Newspapers have been flooded with stories about food shortages, grounded flights and troops on the streets of Britain if the country leaves the European Union early next year without an agreement on the future relationship between the two sides. By Danica Kirka. SENT: 1,000 words, photos.
JAPAN-UK -TRADE — Britain wants to align itself more closely with Asia's growing economies as it prepares to leave the European Union, Trade Secretary Liam Fox says. By Ken Moritsugu. SENT: 280 words, photos.
BREXIT — Britain's foreign secretary warns anew against a "messy divorce" with the European Union that could poison future relations as he visited Austria, bringing his message to the country that holds the EU's rotating presidency. SENT: 330 words, photos.
GERMANY-ONLINE RETAILERS — Germany's government has initiated legislation that would make online retailers liable for sales tax that isn't paid by vendors based outside the country. SENT: 150 words.
ITALY-FRANCE-DIGITAL TAX — The Italian and French economic ministers say they will work for the speedy adoption of an EU Commission proposal to tax digital services from the end of this year. SENT: 100 words.
INDIA-ECONOMY — India's central bank raises its key interest rate by a quarter of a percentage point to 6.5 percent, saying that global growth has become uneven and risks to the outlook have increased with rising trade tensions. SENT: 120 words.
EMIRATES-VISA AMNESTY — The United Arab Emirates launches a three-month visa amnesty program, hoping to resolve a Catch-22 for foreign workers who are fined daily for overstaying their permits but prevented from leaving until they pay the penalties. By David Rising. SENT: 580 words, photos.
MONEY & MARKETS SUMMARY:
Cheesecake results leave investors hungry
Cheesecake Factory stock plunged to a four-month low after the Calabasas Hills, California-based restaurant chain reported second-quarter profit that was far below what Wall Street expected.
Fewer unemployment checks
As of the middle of July, there were 1.75 million people collecting unemployment benefits, the lowest total since 1973. That's a sign that economic growth could continue.
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