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BC-APFN-Business News Digest

January 7, 2019

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:

FINANCIAL MARKETS-VOLATILITY TRIGGERS — Welcome to the brave new world of investing, where every day in the stock market can feel like bedlam. Investors have been careening from fear to relief and back again as they react to morsels of news about the health of the economy and corporate profits, the global trade war and when the Federal Reserve will next raise interest rates. By Stan Choe. SENT: 1,040 words, photo.

With:

FINANCIAL MARKETS — U.S. stocks are edging higher in early trading on Wall Street after enormous swings the previous two days. By Marley Jay. SENT: 940 words, photos. UPCOMING: Will be updated through 5 p.m.

GOVERNMENT SHUTDOWN-IRS-TAX TIME — The prolonged government shutdown couldn’t come at a worse time for the Internal Revenue Service. The tax filing season is opening soon. And for taxpayers, payments for those who owe Uncle Sam likely will still be due April 15 — but people due refunds could see a delay if the partial shutdown persists. By Marcy Gordon. UPCOMING: About 900 words by 11 a.m., photos.

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GOVERNMENT SHUTDOWN — With no weekend breakthrough to end a prolonged partial government shutdown, President Donald Trump is standing firm in his border wall funding demands and newly empowered House Democrats are planning to step up pressure on Trump and Republican lawmakers to reopen the government. By Catherine Lucey and Lisa Mascaro. SENT: 780 words, photos, video.

CHINA-HUAWEI-COMPUTING AMBITIONS — Huawei Technologies Ltd. unveiled a processor chip for data centers and cloud computing in a bid by the biggest global maker of telecom equipment to expand into new markets despite Western warnings the company might be a security risk. By Joe McDonald. SENT: 720 words, photo.

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CHINA-TRADE— Chinese and American officials begin talks aimed at ending a bruising tariffs battle between the world’s two biggest economies, as Beijing complained over the sighting of a U.S. warship in what it said were Chinese waters. By Joe McDonald. SENT: 750 words, photos.

GADGET SHOW-SMART HOME-NO ESCAPE — Want a camera that just takes pictures, a TV that just plays what you want to watch or a microwave that just cooks food? They’re in increasingly short supply as internet-connected “smarts” creep into gadgets everywhere. New features such as voice control and artificial-intelligence-aided autofocus may not seem ominous now, but these gadgets are also likely tracking you and using details of your daily life to help advertisers target you. By Anick Jesdanun. SENT: 1,200 words, photos.

With:

— GADGET SHOW-REPORTER’S NOTEBOOK — The CES 2019 gadget show is revving up in Las Vegas. Here are the latest findings and observations from Associated Press reporters on the ground as technology’s biggest trade event gets underway. SENT: 400 words, photos, video.

MARKETS & ECONOMY:

ECONOMY-SERVICES — U.S. service firms grew at a slower pace in December, a possible indication that various headwinds from turbulent markets to trade tensions could be having an impact on economic activity. By Martin Crutsinger. SENT: 300 words, photos.

WORLD BANK-KIM — Jim Yong Kim, the president of the World Bank, says he is resigning at the end of January. By Martin Crutsinger. SENT: 400 words, photos.

INDUSTRY:

CHINA-TESLA — Tesla CEO Elon Musk says the automaker is breaking ground for a Shanghai factory and will start production of its Model 3 and a planned crossover by the end of the year. By Joe McDonald. SENT: 450 words.

ELI LILLY-ACQUISITION — Eli Lilly is spending about $8 billion in cash to buy Loxo Oncology, as the drugmaker bulks up on cancer treatments that target certain gene abnormalities. SENT: 180 words, photo.

MASTERCARD-LOGO — Mastercard says it is dropping its name in some contexts, opting to let its familiar interlocking yellow and red circles represent the company at retail locations and online. SENT: 260 words, photos.

SUPREME COURT-FOSAMAX —The Supreme Court seems likely to side with drugmaker Merck in a dispute over the warning label on its bone-strengthening drug Fosamax. By Jessica Gresko. SENT: 140 words, photos.

FULL-STRENGTH BEER-STATE LAWS — Beer snobs in states where grocers could offer only low-point brands are raising their mugs to stronger brews as the states shed regulations that limited access to beers with a higher alcohol content. UPCOMING by 2 p.m.

SMALLBIZ-GET STARTED — Small business owners are increasingly feeling the impact of the partial government shutdown that’s in its 17th day. By Joyce M. Rosenberg. SENT: 440 words.

TECHNOLOGY & MEDIA:

MEDIA-CBS NEWS — CBS says its news division president, David Rhodes, is stepping down following a troubled year that saw morning anchor Charlie Rose and the top executive at “60 Minutes” lose their jobs following misconduct reports, and is being replaced by veteran producer Susan Zirinsky. By David Bauder. SENT: 600 words, photo.

INTERNATIONAL:

BREXIT — Britain is testing how its motorway and ferry system would handle a no-deal Brexit by sending a stream of trucks from a regional airport to the port of Dover — even as some legislators try to pressure the government to rule out the scenario. By Gregory Katz. SENT: 560 words, photos.

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BRITAIN-ECONOMY — A lobby group for the U.K. auto industry says new vehicle sales in the U.K. fell in 2018 by their biggest rate since the global financial crisis a decade ago due to a weaker economy and a raft of regulatory changes. By Pan Pylas. SENT: 440 words.

GERMANY-ECONOMY — German factory orders dropped in November, dragged down by a fall in demand from other eurozone countries. SENT: 130 words.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Lilly locks onto Loxo

Eli Lilly shares rose after the drugmaker said it plans to buy Loxo Oncology, adding to its arsenal of cancer treatments.

CENTERPIECE

The pharmaceutical industry rang in the new year with Bristol-Myers Squibb’s $74 billion offer for Celgene, one of the biggest deals in the last 10 years. It could signal a pickup in M&A activity in 2019.

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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