BC-APFN-Business News Digest
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.
CHINA-US-TRADE — A U.S.-Chinese cease fire on tariffs gives jittery companies and investors a respite but is no sign the two sides have changed stances in a war over Beijing’s technology ambitions that threatens to chill global economic growth. By Joe McDonald. SENT: 1,020 words, photos.
US-CHINA-TRADE-MARKETS — The truce in the trade dispute between the U.S. and China should boost rattled financial markets, at least through the year’s end, experts say. But the stock market’s recent wild gyrations likely will persist as the two countries strain to reach a permanent accord. By Marcy Gordon. SENT: 760 words, photos. UPCOMING: Will be updated.
FINANCIAL MARKETS —U.S. stocks surged in early trading Monday after the U.S. and China agreed to a 90-day truce in their escalating trade dispute, sending the Dow Jones Industrial Average up 300 points. By Alex Veiga. SENT: 960 words, photos. UPCOMING: Will be updated through 5 p.m.
Also moved previously:
UNITED STATES-CHINA-TRADE WAR ON HOLD — The dinner table diplomacy that Presidents Donald Trump and Xi Jinping of China conducted over the weekend produced something as vague as it was valuable: an agreement to keep talking. However tentative and ill-defined it might be, the truce pulled the United States and China back from an escalating trade war that was threatening world economic growth and had set global investors on edge. By Paul Wiseman. SENT: 1,030 words, photos. First moved in a previous cycle.
QATAR-OPEC — The tiny, energy-rich Arab nation of Qatar announces it will withdraw from OPEC in January, mixing its aspirations to increase production outside of the cartel’s constraints with the politics of slighting the Saudi-dominated group amid the kingdom’s boycott of Doha. By Jon Gambrell. SENT: 1,020 words, photos.
CANADA-OIL PRODUCTION CUTS — Alberta’s premier announces that she is imposing an industrywide 8.7 percent cut in oil production for the Canadian province to deal with a storage glut that has hurt prices for Alberta oil. By Rob Gillies. SENT: 510 words, photos.
WOMEN IN TECH-OFFENSIVE CONFERENCE — Women trying to make strides in the male-dominated field of artificial intelligence have won a symbolic victory — persuading a prestigious AI conference to get rid of an acronym that had become fodder for sexist jokes. But there’s more work to be done as this year’s conference opens in Montreal on Sunday, as the field grows from a tiny academic discipline into a tech powerhouse behind products from such leading companies as Google and Amazon. By Matt O’Brien. UPCOMING: 700 words by 2 p.m., photos.
AMAZON-DRONES — Jeff Bezos boldly predicted five years ago that drones would be carrying Amazon packages to people’s doorsteps by now. Amazon customers are still waiting. And it’s unclear when, if ever, this particular order by the company’s founder and CEO will arrive. By David Koenig and Joseph Pisani. SENT: 940 words, photos.
MARKETS & ECONOMY:
ECONOMY-NABE OUTLOOK — A group of business economists foresee U.S. economic growth remaining solid next year, with unemployment falling further and only a slight chance of a recession. But they express concern about potential risks, notably from trade conflicts. By Martin Crutsinger. SENT: 480 words.
ECONOMY-MANUFACTURING — U.S. manufacturers expanded at a faster pace in November as new orders surged, a positive sign for economic growth heading into 2019. By Josh Boak. SENT: 320 words, photos.
CONSTRUCTION SPENDING — Spending on U.S. construction projections fell 0.1% in October, the third consecutive monthly decline, as weakness in home building and non-residential construction offset a rebound in government projects. By Martin Crutsinger. SENT: 320 words, photos.
JAPAN-NISSAN-GHOSN — One of the biggest mysteries surrounding the arrest of Nissan’s former chairman Carlos Ghosn is over how he allegedly could have underreported his income by millions of dollars for years and why the company is going after the suspected wrongdoing now. By Yuri Kageyama. SENT: 1,280 words, photos.
GLAXO-TESARO ACQUISITION — Shares of Tesaro soar after GlaxoSmithKline said it would pay about $5.1 billion in cash to buy the cancer drugmaker. SENT: 130 words, photo.
BRITAIN-HORLICKS — Unilever has agreed to buy GlaxoSmithKline’s health food drinks business in India and Bangladesh, including popular Horlicks brand products, for 3.3 billion euros ($3.8 billion). SENT: 140 words.
BEST TOYS FOR TOTS — Skip the costly electronic games and flashy digital gizmos. Pediatricians say the best toys for tots are old-fashioned hands-on playthings that young children can enjoy with parents — things like blocks, puzzles — even throwaway cardboard boxes — that spark imagination and creativity. By Lindsey Tanner. SENT: 470 words, photo, video.
SMALLBIZ-GET STARTED — Small business owners are upbeat, looking to expand and worrying less about financial concerns like health costs. That’s the finding of a survey of 1,067 owners released last week by Bank of America. By Joyce M. Rosenberg. SENT: 440 words.
TECHNOLOGY & MEDIA:
TRIBUNE-MEDIA-NEXSTAR — Nexstar is offering to buy Chicago’s Tribune Media for about $4 billion, four months after the collapse of a similar bid from Sinclair Broadcast Group. SENT: 380 words, photos.
BRITAIN-MI6 CHIEF — Britain’s Secret Intelligence Service director used a rare public speech Monday to outline threats facing Britain and the need for more diversity in secret agent ranks. By Gregory Katz. SENT: 360 words, photos.
CZECH-CYBERATTACKS — A Czech spy agency says it’s “obvious” that Russia was behind cyberattacks against the country’s foreign ministry, calling them the most serious case of cyberespionage to hit the European country. SENT: 140 words.
NEWSPAPERS SOLD-KENTUCKY — Paducah-based Paxton Media Group has bought the Kentucky New Era and four other newspapers. SENT: 130 words.
LEAK WEBSITE — A new leak website’s struggle with what to keep on its shelves is illustrating the difficulty of balancing full transparency with respect for privacy in an age of mass disclosures. The site, dubbed Distributed Denial of Secrets, is aimed at securing the cascades of leaked data before they disappear amid the digital churn of the internet. By Raphael Satter. SENT: 610 words, photos.
FRANCE-PROTESTS — French paramedics joined ongoing anti-government protests as the prime minister met with political rivals Monday in a bid to ease anger following violent riots that rocked Paris. By Samuel Petrequin. SENT: 610 words, photos.
BREXIT — British Prime Minister Theresa May brushes aside questions about whether she will resign if her Brexit deal is rejected by Parliament next week, saying she’s confident she’ll still have a job after the crucial vote. By Jill Lawless. SENT: 710 words, photos.
CLIMATE — U.N. Secretary-General Antonio Guterres opened the climate summit in Poland by issuing a dramatic appeal to world leaders to take seriously the threat of global warming and act boldly to avert a catastrophic rise in temperatures before the end of the century. By Frank Jordans and Monika Scislowska. SENT: 790 words, photos.
UNITED NATIONS-PATENTS-CHINA — A U.N. agency says China has issued the most international patent applications for an eighth straight year, showing the country’s heft in intellectual property amid U.S. President Donald Trump’s accusation that the growing Asia power steals it. SENT: 130 words, photo.
TURKEY-ECONOMY — Official figures show that Turkey’s inflation rate eased in November in the wake of a firmer currency, which kept a lid on import prices. SENT: 130 words.
JAPAN-CHINESE WORKERS — Japanese police have arrested 11 Chinese nationals in northern Japan for allegedly working at a construction site without passports or proper visas, and later discovered dozens of fellow workers fled. By Mari Yamaguchi. SENT: 270 words, photo.
EGYPT-ARMS EXPO — Egypt is hosting its first international weapons fair, an event that organizers hope will project a message to the world that the country is secure and stable. SENT: 140 words, photo.
BELGIUM-OBIT-FRERE — Albert Frere, the industrialist who became one of Belgium’s richest people during more than a half-century of deal-making, has died at age 92, according to his GBL group. SENT: 100 words, photo.
HUNGARY-SOROS UNIVERSITY — Central European University is confirming that it will move its U.S.-accredited degree programs from the Hungarian capital of Budapest to Vienna from Sept. 2019, as Hungary’s government is refusing to sign an agreement allowing it to stay. SENT: 130 words.
KOSOVO-SERBIA — European Union’s enlargement commissioner is visiting Kosovo to try to push authorities to revoke a recent decision to impose a 100-percent tariff on goods from Serbia and Bosnia-Herzegovina. SENT: 140 words, photos.
NERDWALLET-LIZ WESTON-CREDIT-SCORE-MILLENNIALS — Millennials’ aversion to credit cards can make it hard for them to build good credit scores. A recently announced scoring system, the UltraFICO, may someday help them and other consumers get loans and credit based on how they use their bank accounts. By Liz Weston. SENT: 850 words, photos.
MONEY & MARKETS SUMMARY:
What’s next for Nexstar?
Nexstar Media shares jumped to an all-time high after the Irving, Texas-based company agreed to buy Tribune Media, a deal that would make it the biggest operator of local TV stations in the U.S.
Heartless automatons called “Grinch bots” buy up coveted items on online retail sites to resell at a big markup, and some lawmakers have begun seeking ways to block them.
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