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BC-Business News Digest

December 6, 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:

CHINA-HUAWEI-DEEPENING CONFLICT — The dramatic arrest of a Chinese telecom executive illustrates why it will be so hard for the Trump administration to resolve its deepening conflict with China. In the short run, the arrest deepened skepticism about the truce that Presidents Donald Trump and Xi Jinping reached in their trade war last weekend, and it jolted financial markets. But the incident also reflects tensions over China’s drive for supremacy in technology, defense and economic leadership — an effort that puts it in direct collision with the United States. By Paul Wiseman and Frank Bajak. UPCOMING: 850 words.

With:

CHINA-HUAWEI — China demands Canada release a Huawei Technologies executive who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade talks. Huawei’s chief financial officer, Meng Wanzhou, faces possible extradition to the United States, according to Canadian authorities. By Joe McDonald and Rob Gillies. SENT: 1,090 words, photos.

With:

CHINA-FIVE THINGS ABOUT HUAWEI — 5 Things to Know About Chinese telecoms and phone supplier Huawei after its CFO’s arrest. SENT: 540 words, photos.

CLIMATE-SUSTAINABLE SHIPPING — European and U.S. tech companies are pitching futuristic sails to help cargo ships harness the free and endless supply of wind power. While they sometimes don’t even look like sails — some are shaped like spinning columns — they represent a cheap and reliable way to reduce CO2 emissions for an industry that depends on a particularly dirty form of fossil fuels. By Kelvin Chan. SENT: 1,000 words, photos.

Also:

CLIMATE-FRANCE PROTESTS — The worst riots in Paris in decades were sparked by higher fuel taxes, and French President Emmanuel Macron responded by scrapping them Wednesday. But taxes on fossil fuels are just what international climate negotiators, meeting in Poland this week, say are desperately needed to help wean the world off of fossil fuels and slow climate change. By Seth Borenstein and Angela Charlton. SENT: 970 words, photos.

With:

FRANCE-PROTESTS — Paris police and store owners are bracing for new violence at protests Saturday, despite President Emmanuel Macron’s surrender over a fuel tax hike that unleashed weeks of unrest. By Angela Charlton and Alex Turnbull. SENT: 530 words, photos.

MEDIA-FOX AFTER AILES — More than two years after a sexual misconduct scandal forced Roger Ailes out at Fox News Channel and a year after his death, his ghost walks the halls of the network he built and ran for two decades. By David Bauder. UPCOMING: 1,250 words by 2 p.m., photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS —U.S. stocks tumbled in early trading following a sell-off in overseas markets, knocking more than 450 points off the Dow Jones Industrials Average. By Alex Veiga. SENT: 770 words, photos. UPCOMING: Will be updated through 5 p.m.

Also:

OPEC MEETING — OPEC countries are meeting to find a way to support the falling price of oil, with analysts predicting the cartel and some key allies, like Russia, would agree to cut production by at least 1 million barrels per day. By Kiyoko Metzler and Carlo Piovano. SENT: 820 words, photos.

With: OPEC MEETING-THE LATEST — Running updates.

NET WORTH — A stock market rally, which has since reversed, propelled U.S. household net worth to a record high of $109 trillion in the July-September quarter. By Christopher Rugaber. SENT: 430 words.

ADP EMPLOYMENT — U.S. businesses hired new workers at a solid pace in November, adding 179,000 jobs, according to a private survey. By Christopher Rugaber. SENT: 370 words, photos.

TRADE GAP — Record imports in October drove the U.S. trade deficit to the highest level in a decade. By Paul Wiseman. SENT: 140 words, photos.

PRODUCTIVITY — U.S. productivity grew at an annual rate of 2.3% in the July-September quarter, slower than the previous quarter but still an improvement over the weak annual gains of the past decade. Labor costs rose at a modest pace in the third quarter. By Paul Wiseman. SENT: 410 words, photos.

ECONOMY SERVICES — U.S. services firms grew at a slightly stronger pace in November, a sign that the recent stock market sell-offs have yet to dampen enthusiasm among consumers. By Josh Boak. SENT: 250 words, photos.

MORTGAGE RATES — U.S. long-term mortgage rates fell this week amid a steep decline in stock prices. SENT: 360 words, photos.

SMALLBIZ-HIRING — Small business hiring bumped higher in November, extending its string of fluctuations that started early in 2018. SENT: 200 words.

INDUSTRY:

MARIJUANA-MICHIGAN — Michigan is officially the first state in the Midwest to allow marijuana for more than medical purposes. SENT: 130 words, photo.

WALGREENS-HOME DELIVERIES — Walgreens is joining drugstore competitor CVS Health in expanding home deliveries for prescriptions nationwide, as stores continue adjusting to a retail world made more customer-friendly by online competition. By Tom Murphy. SENT: 320 words, photos.

LYFT-IPO — Lyft is moving toward becoming a publicly traded company. The San Francisco ride-share company said Thursday that it’s filed a registration statement for a proposed initial public offering of its shares. The company was valued at just over $15 billion earlier this year. SENT: 190 words, photos.

SAGE GROUSE-ENERGY LEASES — The Trump administration moved forward with plans to ease restrictions on oil and gas drilling and other activities across millions of acres in the American West that were put in place to protect an imperiled bird species. By Matthew Brown. SENT: 590 words, photos.

SEARS-TAKOVER BID — Eddie Lampert and his ESL Holdings hedge fund are offering to buy the rest of Sears for up to $4.6 billion in cash and stock. SENT: 230 words, photos.

COCA-COLA-NEW CHAIRMAN — Coca-Cola Co. has named its president and CEO as chairman of the company’s board. James Quincey will become chairman and CEO following Coke’s annual meeting in April. SENT: 140 words, photos.

HEALTH OVERHAUL-SIGN-UPS — With open enrollment ending next week, the government says sign-ups for coverage under former President Barack Obama’s health care law are lagging when compared with last year. SENT: 140 words.

TECHNOLOGY & MEDIA:

JAPAN-SOFTBANK — Some users of SoftBank cellphones had problems calling and text messaging for several hours in Japan on Thursday ahead of the company’s IPO which is set to be among the world’s biggest at about $21 billion. SENT: 270 words, photo.

LYFT-IPO — Lyft is readying for an initial public offering of shares as it pushes toward becoming a publicly traded company. SENT: 100 words.

TRUMP-TECH MEETING — Top executives from Google, Microsoft, IBM, Oracle and Qualcomm are planning to meet at the White House amid strained ties between President Donald Trump’s administration and the tech industry. SENT: 480 words, photos.

APPLE-HART MONITORING — Apple Watch is now fulfilling its promise to let people take EKGs of their heart and notify them when they have an irregular heartbeat. SENT: 270 words, photos.

PERSONAL FINANCE:

NERDWALLET-ITEMIZE TAX DEDUCTIONS — The standard deduction nearly doubled for 2018, leaving many taxpayers wondering whether it’s financially worth it to itemize on their tax returns anymore. Tax pros share four ways to tell whether it might be time to put away the receipts this tax season and take the standard deduction instead. NerdWallet Columnist By Tina Orem. SENT: 710 words, photos.

INTERNATIONAL:

CUBA-PRIVATE BUSINESS — Cuba’s government has modified a series of measures unpopular with the country’s private sector, including lifting restrictions on the number of business permits a person can have and the number of chairs there can be in restaurants. By Andrea Rodriguez. SENT: 380 words, photos.

With:

CUBA INTERNET — Cuba’s telecom company announced it will introduce internet services to its customers on Thursday, the first time customers will be able use their phones for web browsing through cell phone plans.

GERMANY-HEIDELBERG CHRISTMAS MARKET-PHOTO GALLERY — Germany’s popular Christmas markets are back in business, and the Gluehwein is flowing in Heidelberg’s old town — under the city’s landmark castle. SENT: 120 words, photo gallery.

BRITAIN-BORIS JOHNSON — Former British Foreign Secretary Boris Johnson has been reprimanded for failing to report income within time limits set by Parliament. By Gregory Katz. SENT: 300 words, photo.

NETHERLANDS-TOBACCO — A Dutch appeals court on Thursday refused to order public prosecutors to open a criminal investigation of tobacco companies, in a major setback for anti-smoking activists. By Mike Corder. SENT: 270 words.

GREECE-PENSIONS — Greek lawmakers have agreed to fast-track draft legislation to cancel a major round of pension cuts scheduled to take effect on Jan. 1, after bailout lenders agreed they were no longer needed for the country to balance its budget. By Derek Gatopoulos. SENT: 330 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Lam Research shares fell after the Fremont, California technology company said its chief executive resigned amid allegations of misconduct by him.

CENTERPIECE

Coal losing out to renewables

Most coal operations in the world are at risk of becoming unprofitable over the next two decades, according to a new report by Carbon Tracker, a financial think tank focused on energy.

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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