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BC-Business News Digest

September 28, 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:

SEC-ELON MUSK — Tesla without Elon Musk at the wheel? To many of the electric car maker’s customers and investors that would be unthinkable. But that’s what government securities regulators now want to see. By Tom Krisher and Alexandra Olson. SENT: 1,250 words, photos.

With:

TESLA STOCK-WILD RIDE — Tesla investors have taken a wild ride as Wall Street values the promise of one of the world’s leading electric car makers, the hurdles the company faces as it tries to become a world-class manufacturer, and a mercurial CEO who can get the market buzzing with a single tweet. By Marley Jay. SENT: 490 words, photos.

And:

ELON MUSK-5 THINGS TO KNOW — The Securities and Exchange Commission’s complaint accusing Tesla CEO Elon Musk of committing stock market fraud paints a picture of a man who is either a liar or a reckless leader. By Michael Liedtke. SENT: 650 words, photos.

Also:

SEC-ELON MUSK-THE LATEST — Running updates.

UNRELIABLE MAPS — For centuries, people have relied on maps to figure out where they are and where they’re going. But today’s digital maps — seemingly more precise than ever —aren’t always as dependable as they appear. By Ryan Nakashima. SENT: 1,090 words, photos, video.

LUNCHBOX AUCTION — It’s a baby boomer’s delight. A veteran auctioneer has on display hundreds of vintage lunchboxes featuring the heroes of their childhood’s comic books, TV shows, cartoon strips, movies and more. J. Louis Karp’s family business in Cincinnati dates to 1870, and he says he’s never seen such a collection. It includes comic-book superheroes such as Superman and The Avengers, and stars of TV series, movies and cartoon strips. By Dan Sewell. SENT: 640 words, photos.

FACEBOOK-SECURITY BREACH — Facebook says it recently discovered a security breach affecting nearly 50 million user accounts. SENT: 230 words, photos. UPCOMING: Will be updated.

TAX OVERHAUL-PART TWO — Republicans have sped legislation through the House to expand their massive new tax law, capping their session for the year as they rush out of town to face voters in the November elections. The new bill would make permanent the individual and small-business tax cuts in the law. By Marcy Gordon. SENT: 290 words.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stocks are slightly higher as gains for chipmakers give the technology sector a boost, and energy companies are rising with oil prices. By Marley Jay. SENT: 890 words, photos. UPCOMING: Will be updated through 5 p.m.

CONSUMER SPENDING — U.S. consumer spending edged up a moderate 0.3 percent in August, the smallest gain in six months, as sales of cars and other durable goods fell. By Martin Crutsinger. SENT: 460 words, photos.

EUROPE-ECONOMY — Underlying inflation across the 19-country eurozone remains stubbornly low, official figures show, in what is likely to be a disappointment to policymakers at the European Central Bank who have been predicting a pick-up. By Pan Pylas. SENT: 470 words, photos.

UNITED NATIONS-GENERAL ASSEMBLY — Tangled in an escalating trade dispute with the United States, China’s top diplomat insisted Friday that his country “will not be blackmailed” or bow to pressure. By Jennifer Peltz and Frank Jordans. SENT: 830 words, photos.

INDUSTRY:

HONDA-TAKATA-RECALL — Honda says it will recall 1.4 million U.S. cars to replace Takata front passenger air bag inflators. SENT: 130 words.

And:

JAPAN-HONDA RECALL — Honda is recalling about 232,000 2018 Accord vehicles and 2019 Insight hybrid cars in the U.S. for malfunctioning software for the rear camera display. SENT: 130 words, photos.

MAERSK-NORTHERN SEA ROUTE — Denmark’s A.P. Moller-Maersk, the world’s biggest shipping group, said Friday that one its cargo vessels has successfully passed through the Russian Arctic on a one-off trial journey as a result of melting sea ice. By Jan M. Olsen. SENT: 320 words.

AIRLINE EXECUTIVE-FATAL SHOOTING — The former CEO of Pinnacle Airlines has been fatally shot in Memphis, Tennessee. SENT: 170 words, photo.

EUROPE-RYANAIR STRIKE — Thousands of travelers in Europe saw their plans disrupted Friday after airline Ryanair cancelled some 190 flights because of strikes by cabin crew in Spain, Belgium, Holland, Portugal, Italy and Germany. SENT: 280 words, photos.

ELECTRIC SCOOTER-DUI — A Los Angeles man has been fined $550 and ordered to pay restitution for riding an electric scooter while intoxicated and knocking over a 64-year-old pedestrian on a sidewalk. SENT: 140 words.

SEC-WALGREENS — Walgreens and two former top executives are settling charges that they misled investors about the profit potential of its pending $16 billion merger with the European retail chain Alliance Boots. SENT: 130 words, photos.

HARVARD-ENDOWMENT — Harvard University says its endowment has grown to $39.2 billion after returning 10 percent on its investments in the last fiscal year. SENT: 140 words.

JETBLUE-BASIC ECONOMY — JetBlue is following the lead of larger rivals by offering a stripped-down ticket with fewer options than regular economy fares. SENT: 140 words.

TECHNOLOGY & MEDIA:

DRONES-SECURITY — An aviation bill Congress is rushing to approve contains a little-noticed section that would give authorities the power to track, intercept and destroy drones they consider a security threat, without needing a judge’s approval. By David Koenig. SENT: 1,080 words, photo.

GOOGLE CEO-CONGRESS — Google CEO Sundar Pichai to meet with US lawmakers about allegations of political bias, internet regulations, antitrust concerns, potential expansion into China. By Michael Liedtke. SENT: 480 words, photos.

AUSTRALIA-PAPUA NEW GUINEA — A U.S. diplomat says the United States, Japan and Australia are cooperating on a domestic internet cable proposal for Papua New Guinea as an alternative to an offer by Huawei, the Chinese telecommunications giant that the United States regards as a cybersecurity threat. SENT: 140 words.

TAIWAN-ITRASH — Taipei City is launching a self-service garbage recycling system that allows users to obtain petty cash when they recycle metallic cans. When users put in glass bottles or metallic cans in the recycling machine, they can collect cash on their smart card in return, which most people here use to pay their metro rides. SENT: 200 words, photos.

BANGLADESH-SECURITY ACT — Journalists and human rights groups are demanding major amendments to a bill recently passed in Bangladesh’s Parliament, saying it will further choke constitutionally protected freedom of speech. By Julhas Alam. SENT: 750 words, photos.

INTERNATIONAL:

ITALY-BUDGET — Italy’s stock market falls sharply after the new populist, euroskeptic government announced a sharp public spending increase that will push the budget deficit to 2.4 percent of gross domestic product next year, risking a collision with the European Union. SENT: 410 words, photos.

AUSTRALIA-BANK INQUIRY — A government-commissioned inquiry into misconduct in Australia’s banking and financial services industry found that most of the misbehavior either went unpunished or the consequences did not reflect the seriousness of the violations. By Rod McGuirk. SENT: 530 words, photos.

CHINA-CORRUPTION — A former Chinese stock market regulator who is detained after a collapse in share prices in 2015 was sentenced to 18 years in prison on charges of taking bribes and insider trading. SENT: 290 words, photos.

JAPAN-NUCLEAR — The operator of Japan’s wrecked Fukushima nuclear plant says much of the radioactive water stored at the plant isn’t clean enough and needs further treatment if it is to be released into the ocean. By Mari Yamaguchi. SENT: 440 words.

BRITAIN-ALLERGY DEATH — The family of a teenager who died from an allergic reaction to a sandwich demanded changes to Britain’s food labeling laws Friday, describing her death as a watershed moment in the full disclosure of potential allergens in food. By Danica Kirka. SENT: 410 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Tesla loses its spark

Tesla shares plunged after regulators sought to oust Elon Musk as chairman and CEO of the company he founded.

CENTERPIECE

Papa’s pizza pressure

Papa John’s and its founder are blaming each other for the chain’s declining sales. Competition is likely another factor eating into its slice of the pizza industry.

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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