BC-Business News Preview
Among the stories Tuesday from The Associated Press:
INSURGENT BRANDS — The guys who founded Harry’s shaving club spend a lot time thinking about what shoppers hate buying. Armed with $112 million in new financing, the internet-savvy shaving company that took on razor giants Gillette and Schick is investigating what other sleepy products might be ripe for disruption. Harry’s is one of an array of insurgent brands which are shaking up the way people buy everything from mattresses to prescription acne remedies, eating into the market share of big consumer product companies. By Alexandra Olson. SENT: 1,950 words, photos. An abridged version of 860 words also is available.
FEDERAL RESERVE — The Federal Reserve issues its latest policy statement and updates its interest-rate and economic projections before Chairman Jerome Powell holds a news conference. The Fed is expected to modestly raise its benchmark short-term interest rate for the third time this year, a reflection of a steadily resilient economic expansion. By Martin Crutsinger. UPCOMING: 130 words at 2 p.m. 500 words by 2:30 p.m.
FED-THE LATEST — Running updates.
INTEREST RATES-IMPACT BY AGE — Higher interest rates can mean different things to people, depending on where they are in life. For people borrowing money, it means life is getting more expensive. For savers, it means bigger rewards. A look at some of the effect as the Federal Reserve is expected to raise rates for the third time this year. By Stan Choe and Sarah Skidmore Sell. UPCOMING: 750 words by 6 a.m., photos.
ON THE MONEY-USED CAR PRICES — For more than three years, prices of used sedans have been falling in the U.S. as gas prices dropped and people shifted toward SUVs and trucks. But so far this year, compact and midsize cars have been appreciating as people who can’t afford new vehicles or used SUVs began buying in great numbers. By Tom Krisher. UPCOMING.
FRANCE-FIGHTING AIRBNB — Parisians and City Hall officials are expressing deep qualms about having so many visitors directly in their midst, no longer largely corralled in hotels but instead living, albeit temporarily, cheek-by-jowl with locals in properties rented online. By John Leicester. SENT: 840 words, photos.
— AUSTRALIA-AIRBNB DEATH — An Australian judge sentenced two men to prison over the fatal beating of their Airbnb guest who owed rent. SENT: 310 words.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Stocks are opening slightly higher on Wall Street, led by gains in health care companies. SENT: 130 words, photos. UPCOMING: Will be updated through 5 p.m.
NEW HOME SALES — The Commerce Department reports on U.S. new home sales in August. By Josh Boak. UPCOMING: 130 words when report is released at 10 a.m., 250 words by 10:45 a.m.
TRADE WARS — A fierce global trade war would hurt the United States economy significantly, making households poorer and destroying jobs, while China would not suffer as much, according to a simulation carried out by economists at the European Central Bank. By David McHugh. SENT: 560 words, photo.
ASIA-ECONOMY — Trade conflicts, rising debt and the potential impact from rising interest rates in the U.S. will likely dampen growth in the coming year, the Asian Development Bank says, in an update of its regional economic outlook report. By Elaine Kurtenbach. SENT: 540 words, photos.
CHINA-TRADE — China announced more tariff cuts Wednesday on construction machinery and other goods but no action on U.S. complaints about its technology policy that are fueling an escalating trade battle. By Joe McDonald. SENT: 700 words.
QATAR-2022 WORLD CUP — A contractor involved in building the marquee stadium for Qatar’s hosting of the 2022 World Cup did not pay its workers, leaving them stranded thousands of miles from home, according to a report. By Jon Gambrell. SENT: 640 words, photo.
ZINC-AIR BATTERIES — Remote villages in Africa and Asia are receiving electricity using a little-known type of technology: zinc-air batteries. By Cathy Bussewitz. SENT: 230 words.
TECHNOLOGY & MEDIA:
CONGRESS-DATA PRIVACY — The Trump administration is hoping Congress can come up with a new set of national rules governing how companies can use consumers’ data that finds a balance between “privacy and prosperity.” By Marcy Gordon. SENT: 670 words, photo. UPCOMING: Will be updated after starte of hearing, scheduled for 10 a.m.
AMAZON-WHOLE FOODS DELIVERY — Amazon continues to expand delivery from its Whole Foods grocery stores, announcing new service in 10 cities while broadening delivery areas where it’s already operating. SENT: 130 words, photos.
CBS-INTERIM CEO — CBS says it has named media industry veteran Richard Parsons as interim chairman of the board as the company moves to reshape itself following the ouster of longtime chief Les Moonves. SENT: 120 words, photo. First moved late Tuesday.
CHINA-LENOVO — Interview with chief technology officer of Lenovo Group, Yong Rui, about the computer maker’s artificial intelligence plans. On merits.
NORWAY-OBAMA — Former US President Barack Obama to speak at the Oslo Business Forum conference titled The Future of Technology and Sustainability.
DAIMLER-CEO — Daimler CEO Dieter Zetsche will leave his post in May and be succeeded by Ola Kallenius, who has headed development and research for the automaker’s Mercedes-Benz luxury brand. By David McHugh. SENT: 390 words, photos.
BEHIND THE WHEEL-ELECTRIC VEHICLES — Even though electric vehicles account for just a fraction of overall car sales, they are slowly gaining favor with buyers, particularly as second cars for daily commuting. By Carroll Lachnit of Edmunds. SENT: 800 words, photos.
ASIA ELECTIONS-CHINA — Three Muslim-majority Asian countries have elected leaders who campaigned on a promise to temper China’s growing influence, but analysts say reducing the foothold of the world’s second-largest economy won’t be easy because of the billions of dollars in development projects that are already underway. By Emily Schmall. SENT: 1,250 words, photo.
MALAYSIA-CORRUPTION — The wife of Malaysian former Prime Minister Najib Razak arrives at the anti-graft agency for questioning over alleged theft and money laundering involving the 1MDB state investment fund. SENT: 480 words, photos.
ISRAEL-EHUD BARAK — Former Israeli Prime Minister Ehud Barak has been appointed chairman of an Israeli medical marijuana company. SENT: 140 words.
GREECE-TAXES — The Greek government is owed so much in tax arrears from households and companies that it could pay off more than half its massive public debts if it collected it all. SENT: 170 words, photo.
CZECH-ECONOMY — The Czech Republic’s central bank has raised its key interest rate for the third time since June, by a quarter point to 1.50 percent. SENT: 120 words.
ITALY-BUDGET — Italy’s economy minister says the first budget of the new Italian government will include a basic income scheme sought by one of the governing parties, the 5-Star Movement. SENT: 140 words.
BRITAIN-LABOUR — British opposition leader Jeremy Corbyn rallied his Labour Party on Wednesday, calling for a clampdown on unfettered capitalism and a huge investment in public services as he tried to refocus attention on domestic policies after an annual conference dominated by Brexit. By Jill Lawless. SENT: 490 words, photos.