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BC-APFN-Business News Digest

July 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:

CHINA-US-BEIJING’S TRADE OPTIONS — China’s options to retaliate in its spiraling dispute with Washington go beyond matching U.S. tariff hikes to targeting American companies and government debt. By Joe McDonald. SENT: 690 words, photos.

With:

— US-CHINA-TARIFFS-THE LATEST — Running updates.

Also:

US-CHINA-TARIFFS — Chinese exporters are scrambling to cope with a plunge in U.S. sales while China’s state press shrugged off the impact of Washington’s tariff hikes in a spiraling technology dispute. By Joe McDonald. SENT: 770 words, photos.

— BMW-CHINA — Automaker BMW says it will have to raise prices on the U.S.-built SUVs it sells in China due to higher tariffs. SENT: 130 words, photos.

STARBUCKS-STRAWS — Starbucks will eliminate plastic straws from all of its locations within two years, citing the environmental threat to oceans. SENT: 520 words, photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stocks climbed with other markets as worries about trade tensions between the United States and the rest of the world took a back seat. By Stan Choe. SENT: 830 words, photos. UPCOMING: Will be updated through 5 p.m.

CONSUMER BORROWING — The Federal Reserve releases its May report on consumer borrowing. By Marcy Gordon. UPCOMING: 130 words after release of report at 3 p.m. 300 words by 3:45 p.m.

INDUSTRY:

SMALLBIZ-GET STARTED — The summer is high season for thieves claiming to be from the IRS and hoping to scam people out of their money. The IRS notes that scammers use phone calls, emails and even in-person visits to try to scare people and businesses into giving them money. By Joyce M. Rosenberg. SENT: 600 words.

JAPAN-NISSAN — Nissan Motor Co. says it altered the results of exhaust emissions and fuel economy tests of new vehicles sold in Japan, in the latest misconduct to surface at the Japanese automaker. By Yuri Kageyama. SENT: 350 words, photos.

ROUNDUP WEED KILLER LAWSUITS — Opening statements are scheduled to start in the first case to go to trial among hundreds of lawsuits alleging agribusiness giant Monsanto’s widely used weed killer Roundup caused cancer.

NEW ZEALAND-BOEING PLANE PURCHASE — New Zealand is buying four Boeing maritime patrol planes from the U.S. to replace aging aircraft, Defense Minister Ron Mark says. By Nick Perry. SENT: 350 words, photo.

TECHNOLOGY & MEDIA:

CHINA-XIAOMI-IPO — Xiaomi Corp. shares slip and then rebound in the Chinese smartphone maker’s first trading day in Hong Kong following a multibillion-dollar initial public offering. SENT: 170 words, photo.

And:

CHINA-TENCENT-MUSIC SERVICE — Tencent, China’s most valuable tech company and the operator of the popular WeChat social media platform, says it plans to spin off its streaming music service on a U.S. stock exchange. SENT: 160 words, photo.

PERSONAL FINANCE:

NERDWALLET-LIZ WESTON-BUSINESS PARENT FUNDING — Parents usually want their kids to succeed, and many are accustomed to sacrificing to help make that happen. But parents shouldn’t be misled about the risks, financial planners say. By NerdWallet columnist Liz Weston. UPCOMING: 850 words by 11 a.m., photo.

INTERNATIONAL:

BREXIT — British Foreign Secretary Boris Johnson, a charismatic and divisive cheerleader for Britain’s exit from the European Union, resigned Monday, adding to a crisis over Brexit that threatens to tear apart Prime Minister Theresa May’s government. By Jill Lawless and Danica Kirka. SENT: 940 words, photos.

With:

BRITAIN-BORIS JOHNSON — The bombastic Boris Johnson is out as foreign secretary, but few if any suggest Monday’s resignation means the last has been heard from one of the best known figures in British politics. By Gregory Katz. SENT: 560 words, photos.

EUROPE ECONOMY — European Central Bank head Mario Draghi says that new trade barriers are the main risk to Europe’s economy and that it’s up to the EU to “lead by example” by supporting economic openness and reforming its institutions. SENT: 370 words, photos.

GERMANY-ECONOMY — German exports rose in May, suggesting trade disputes in recent days with the United States haven’t yet damaged Europe’s biggest economy. SENT: 120 words, photo.

GERMANY-CHINA — German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang stressed their commitment to a multilateral trade system Monday in the wake of Washington’s decision to impose widespread tariffs, saying it was to everyone’s benefit. By David Rising. SENT: 420 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Helen of Troy leaps on brighter outlook

Helen of Troy, the maker of Oxo kitchen supplies and Hydro Flask water bottles, soared to an all-time high after reporting better spring sales, especially online.

CENTERPIECE

Budget forecasting

U.S. deficits over the next decade will total $12.4 trillion, according to the Congressional Budget Office’s baseline forecast. But tiny changes in interest rates or other factors can mean big changes to the forecast.

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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