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BC-APFN-Business News Digest

September 4, 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:

TRILLION DOLLAR AMAZON — Amazon has become the second publicly traded company to be worth $1 trillion, hot on the heels of Apple. In two decades the company expanded far beyond its bookseller beginnings, and its blowout success made its founder and CEO, Jeff Bezos, No. 1 on Forbes’ billionaires list this year. By Joseph Pisani and Marley Jay. SENT: 280 words, photos.

KAEPERNICK-NIKE-WHY DO IT — Nike has created controversy by wading into football’s anthem debate with an ad featuring Colin Kaepernick. Some people are burning their shoes and Nike’s stock is falling. But the shoe maker has also garnered unprecedented buzz by featuring the ex-49ers player in its 30th anniversary “Just Do It” campaign. The ad’s copy reads “Believe in something, even if it means sacrificing everything.” By Mae Anderson. UPCOMING: 500 words by 2 p.m.

With:

CORPORATE-AMERICA-POLITICS — A look at other companies that have recently been caught up the country’s political turbulence. UPCOMING: 600 words by 3 p.m.

And:

KAEPERNICK-NIKE — Colin Kaepernick doesn’t have a job in the NFL, but he has scored a multi-year deal with Nike. A person familiar with the contract says Nike will feature Kaepernick on several platforms, including billboards, television commercials and online ads. Kaepernick began a wave of protests by NFL players two seasons ago, kneeling during the national anthem to protest police brutality and racial inequality. By Rob Maaddi. SENT: 670 words, photos.

KUSHNER COS-UNPAID FINES — The Kushner family real estate firm has amassed over half a million dollars in unpaid fines for various New York City sanitation and building violations, with much of that bill incurred while President Donald Trump’s son-in-law and adviser Jared Kushner was running the company. By Bernard Condon. SENT: 870 words, photos.

ROBOTIC SAILBOATS — A Norwegian company’s robotic sailboat has completed a trans-Atlantic race for unmanned vessels, making it the first ever to complete the nearly decade-old challenge. It’s a milestone that underscores how the technology is robust enough for extended or risky maritime research missions humans can’t do. By Kelvin Chan. SENT: 1,040 words, photos.

FOOD AND FARM-MAINE BLUEBERRIES — In the era of superfoods, Maine blueberries aren’t so super. The state’s wild blueberry industry harvests one of the most beloved fruit crops in New England, but it’s locked in a downward skid. It comes at a time when other nutrition-packed foods, from acai to quinoa, dominate the conversation about how to eat. And questions linger about when, and if, the berry will be able to make a comeback. By Patrick Whittle. SENT: 780 words, photos, video.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stocks are lower as technology and health care companies slip. Amazon fared better than the rest of the market and briefly traded above $1 trillion in market value. By Marley Jay. SENT: 840 words, photos. UPCOMING: Will be updated through 5 p.m.

CONSTRUCTION SPENDING — Spending on U.S. construction projects ticked up 0.1 percent in July, led by an increase in homebuilding and the publicly funded building of schools and highways. SENT: 220 words, photos.

ECONOMY-MANUFACTURING — U.S. factories grew at a faster pace in August as American industry continues to show robust health. SENT: 290 words.

AUTOS:

CARS-NEW MODELS — From new top-selling pickup trucks to an essential range extension for an electric car to the most popular SUV in the country, the 2019 model year for new vehicles has something for everyone. By Tom Krisher. SENT: 1,210 words, photos.

CARS-MUSCLE CAR SLOWDOWN — Sales of new American muscle cars are falling, raising questions in Detroit and elsewhere about whether a nostalgic, high-horsepower cruising culture that dates to before the 1950s is in peril. By Tom Krisher. SENT: 850 words, photos.

CARS-NERDWALLET-SALESPERSON — Car shoppers can take control of the buying process by finding the right car salesperson. Here are the key qualities to look for — and the red flags. And if you need to make the switch, it’s easier than you might think. It’s your time and money, so spend them wisely. By NerdWallet columnist Philip Reed. SENT: 860 words, photos.

CARS-SUBSCRIBE TO YOUR NEXT CAR — If you already subscribe to digital services like Netflix to binge on TV shows and Spotify to groove to an endless mix of music, the auto industry might have a deal for you: Subscribe to your next car as well. SENT: By Michael Liedtke. SENT: 850 words, photos.

CARS-NOT-SO-AUTONOMOUS GROCERY DELIVERY — Having a self-driving car deliver your groceries seems like a great future use for artificial intelligence. Yet here in the present day, there’s a human schlepping your food every step of the way. There’s even one behind the wheel. Test pilots of the technology in places like Scottsdale, Arizona, and San Jose, California, still feature human safety drivers who have to take over if the robotic one gets confused. It might not be long before that changes. By Ryan Nakashima. SENT: 730 words, photos.

INDUSTRY:

SEXUAL MISCONDUCT-HANDLING COMPLAINTS — A wave of sexual harassment complaints that accompanied the #MeToo movement is straining many of the state and local offices tasked with policing workplace discrimination of all kinds. By Susan Haigh. SENT: 910 words, photos.

CALIFORNIA BRIDGE-SEISMIC SENSORS — A replacement bridge under construction at the nation’s second-busiest port isn’t just a crucial route for cargo trucks and Southern California commuters — it’s a concrete-and-steel science experiment for engineers and seismologists. By Christopher Weber. SENT: 690 words.

DENMARK-EARNS-LEGO — Lego said Tuesday its revenue dipped in the first half of 2018, with business in North America hurt by changes in the retail industry such as the bankruptcy of store chain Toys R Us. SENT: 260 words.

BRITAIN-TSB BANK — The banking group TSB says its chief executive, Paul Pester, has quit after a string of huge IT failures. SENT: 110 words.

SMALLBIZ-GET STARTED — Although small business owners are upbeat about the economy’s prospects, they aren’t as optimistic about their own revenue. That’s the finding of a survey conducted by the U.S. Chamber of Commerce and MetLife. An index of small business sentiment rose, but the number of owners expecting their revenue to rise in the next year fell. By Joyce M. Rosenberg. SENT: 400 words.

HOG WASTE-SMITHFIELD — A court battle is shaping up in North Carolina to decide whether the world’s largest pork producer will keep paying for environmental projects as it promised 18 years ago or if the millions should go to public schools instead. By Emery P. Dalesio. SENT: 140 words.

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TECHNOLOGY & MEDIA:

GROWING UP DIGITAL-TECH BACKLASH-NOW AND THEN — Adults have worried about the new types of media and technology their kids spend time with since the days of dime novels and rock n’ roll. But experts — and grandparents — say are key differences this time around. A big part of this is our phones’ highly customized, 24/7 presence in our lives. By Barbara Ortutay. SENT: 1,160 words, photos. Story appeared in a previous cycle.

BOOK REVIEW-SMALL FRY — The ghost of Steve Jobs haunts “Small Fry,” the memoir by his first daughter, Lisa Brennan-Jobs. He looms larger than life even on the pages where he is missing — and he missed a lot. But we already knew that. We also knew that he was not a particularly nice person, that he was a genius, a charismatic visionary, the co-founder of Apple Computer. By Barbara Ortutay. SENT: 950 words.

INTERNATIONAL:

BRITAIN-ECONOMY — Bank of England Governor Mark Carney all but confirmed that he is to stay at the helm for longer than planned in order to help ensure Britain leaves the European Union in as smooth a fashion as possible. By Pan Pylas. SENT: 630 words, photos.

BREXIT — One of Britain’s biggest trade unions is backing calls for a new public vote on leaving the European Union, saying voters were misled during the 2016 referendum campaign. By Jill Lawless. SENT: 530 words, photos.

EUROPE-TOP JOB SCANDAL — The European Union’s official transparency watchdog says the European Commission put public trust at risk by fast-tracking the appointment of a protege of its president, Jean-Claude Juncker, to a top job. By Lorne Cook. SENT: 490 words, photos.

EUROPE-CAR EMISSIONS — A lobby group representing European automakers says EU proposals for cutting emissions of the greenhouse gas carbon dioxide could result in manufacturing job losses. By Frank Jordans. SENT: 430 words, photos.

NETHERLANDS-ING-MONEY LAUNDERING — Dutch bank ING has paid 775 million euros ($897 million) to settle a huge money laundering case in the Netherlands, prosecutors said Tuesday. By Mike Corder. SENT: 350 words, photos.

BALKANS-TURKEY — Analysts say that Turkey’s financial turmoil may slow some future Turkish investments in Serbia, Bosnia, Macedonia, Albania and Kosovo, where Ankara is vying for influence, both economic and political, together with the European Union, China and Russia. But the geopolitical importance of the region will ensure some key projects continue. By Jovana Gec and Dusan Stojanovic. SENT: 660 words, photos, video.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Transocean shares sink

Transocean shares sank after the offshore drilling contractor agreed to buy competitor Ocean Rig UDW for $2.7 billion including debt.

CENTERPIECE

Housing costs surge

The combination of rising home prices and higher mortgage rates has been expensive for buyers: The increase is so substantial that it could tilt more people toward renting homes.

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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