BC-Business News Preview
Among the stories Thursday from The Associated Press:
BRITAIN-SKY — Comcast and 21st Century Fox will settle their battle for control of broadcaster Sky through a rare auction designed to put an end to months of offers and counteroffers from the American media empires seeking a foothold in the European pay TV market. The auction will begin after the London stock market’s close on Friday and end sometime Saturday evening. By Danica Kirka. SENT: 340 words, photos. UPCOMING: May be updated.
OF MUTUAL INTEREST-S&P 500 CHANGES— The S&P 500 index is getting a makeover of sorts. Tech giants Google and Facebook will join Netflix and 15 other companies in a new communications services sector. The move will somewhat dilute the impact of the tech sector, which had grown to a quarter of the S&P’s market value. By Marley Jay. UPCOMING: 450 words by noon, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — European markets climbed following a mixed day in Asia, buoyed by hopes the U.S. and China will proceed with talks to tackle their escalating trade dispute. SENT: 480 words, photos. UPCOMING: Will be updated through 5 p.m.
FINANCIAL MARKETS-POT STOCKS — Wall Street appears to have new mania: pot stocks. Shares of Canadian cannabis companies are soaring with Tilray Inc. leading the pack after recently being cleared to export medical marijuana to the U.S. for research. Tilray is now valued at about $21 billion, greater than American Airlines and Hershey. By Marley Jay. UPCOMING: 400 words by 2 p.m., photos.
HOME SALES — U.S. sales of existing homes were unchanged in August, as a shortage of houses priced at less than $250,000 — a level considered to be affordable for the middle class — has become a drag on the real estate market. By Josh Boak. SENT: 130 words, photo. UPCOMING: 300 words by 10:45 a.m.
MORTGAGE RATES — Freddie Mac reports on this week’s average U.S. mortgage rates. By Marcy Gordon. UPCOMING: 130 words after release of report at 10 a.m. 250 words by 10:45 a.m.
NET WORTH — The Federal Reserve reports on household wealth for the April-June quarter. By Christopher Rugaber. UPCOMING: 130 words after embargo lifts at 12 p.m. 350 words by 12:45 p.m.
UNDER ARMOUR-JOB CUTS — Under Armour will cut about 400 jobs, part of a restructuring that the sports gear maker announced earlier this year. SENT: 100 words, photo.
BRITAIN-ASTON MARTIN — Aston Martin Lagonda, the maker of James Bond’s favorite sports car, plans to raise as much as 1.27 billion pounds ($1.67 billion) when it sells shares to investors for the first time. SENT: 140 words, photos.
NISSAN-RECALL — Nissan recalled more than 215,000 cars and SUVs in the U.S. due to a fire risk and is advising people to park the vehicles outdoors in rare cases. SENT: 190 words, photos.
MARIJUANA MUSEUM — A museum celebrating all things cannabis with displays that include a 24-feet-tall bong — touted as the largest in the world — and giant faux marijuana buds is the newest tourist attraction in Las Vegas. By Regina Carcia Cano. SENT: 570 words, photos.
TECHNOLOGY & MEDIA:
EUROPE-ONLINE REGULATION — The European Union’s consumer protection chief says she’s growing impatient with Facebook’s efforts to improve transparency with users about their data, warning it could face sanctions for not complying. By Kelvin Chan and Raf Casert. SENT: 500 words, photos.
JAPAN-CRYPTOCURRENCY — A Japanese digital currency exchange has been hacked, and $60 million worth of cryptocurrencies are gone. Tech Bureau Corp. says a server for its Zaif exchange was hacked for two hours last week, and some digital currencies were unlawfully relayed from what’s called a “hot wallet,” where virtual coins are stored at such exchanges. By Yuri Kageyama. SENT: 320 words, photos.
NERDWALLET-DEBT DIARY — For this civil engineer, digging out of nearly $100,000 of college and car loans means working two jobs, plus side hustles. She chronicled her daily spending during a recent week to illustrate what paying off that much debt looks like day to day. Here are her entries, plus tips for debt-ridden readers. By NerdWallet columnist Teddy Nykiel. UPCOMING: 1,280 words by 11 a.m., photos.
BREXIT — Britain and its European Union partners fail to secure a breakthrough in Brexit talks largely because of seemingly intractable divisions over the best way to avoid a hard border on the island of Ireland. By Lorne Cook. SENT: 600 words, photos.
JAPAN-ABE’S THIRD TERM — Shinzo Abe’s third term: What lies ahead for Japan’s long-serving prime minister. By Mari Yamaguchi. SENT: 630 words, photos.
INDONESIA-PALM OIL — Indonesia’s president has signed a moratorium on new palm oil development and ordered a review of existing plantations in a blow to an industry blamed for environmental destruction and worker exploitation. SENT: 340 words.
TURKEY-ECONOMY — Turkey expects lower economic growth in coming years amid concerns over inflation and a sliding currency. SENT: 140 words, photo.