BC-Business News Preview
Among the stories Monday from The Associated Press:
YE-CREEPING TECH DYSTOPIA — We may remember 2018 as the year in which technology’s dystopian potential became clear, from Facebook’s role enabling the harvesting of our personal data for election interference to a seemingly unending series of revelations about the dark side of Silicon Valley’s connect-everything ethos. By Matt O’Brien. UPCOMING: 1,000 words by noon, photos.
SMALLBIZ-GET STARTED — Many small businesses will see their labor costs increase in 2019. By Joyce M. Rosenberg. SENT: 460 words.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Stocks are opening lower on Wall Street Monday as key U.S. indexes remain on course for their worst December since the 1930s. Bank stocks are among the worst off after news of the treasury secretary’s call with CEOs of six major banks accentuated investors’ concerns. SENT: 460 words. UPCOMING: 700 words by 2 p.m.
TRUMP-PENTAGON — Patrick Shanahan may not be President Donald Trump’s permanent replacement as defense secretary. His biography on the Pentagon’s website does not list military experience for the longtime Boeing executive. But he does have a reputation as a “fix-it” man, and he’s already been working on streamlining Pentagon purchasing. By Lolita C. Baldor. SENT: 980 words, photos.
GOVERNMENT SHUTDOWN — Both sides in the long-running fight over funding President Donald Trump’s U.S.-Mexico border wall appear to have moved toward each other, but a shutdown of one-fourth of the federal government entered Christmas without a clear resolution in sight. By Darlene Superville. SENT: 930 words, photos.
CRAFTS-AMERICAN YARN — The shop-local trend includes knitting. American-made yarn seems to be making a comeback — perhaps driven by environmental and economic concerns. By Shireen Korzan. SENT: 680 words, photo.
NERDWALLET-LIZ WESTON-SOCIAL-SECURITY-TAXES— Because the taxation of Social Security benefits isn’t indexed to inflation, more recipients than ever before are seeing their benefits taxed. Giving seniors their well-deserved tax break, though, requires bigger fixes. SENT: 800 words, photo.
CYPRUS-BANK REGULATORS — Banks in Cyprus are concerned that their adoption of some of the toughest anti-money laundering regulations in the world has not been fully recognized abroad, the chief of the Association of Cyprus Banks said Monday. SENT: 300 words.
SKOREA-BMW FIRES — South Korea said Monday it will fine BMW 11.2 billion won ($9.9 million) and file a criminal complaint against the company with state prosecutors over an allegedly botched response to dozens of engine fires reported in the country. SENT: 280 words.