BC-APFN-Business News Digest
Aug. 24, 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.
FEDERAL RESERVE POWELL — Federal Reserve Chairman Jerome Powell signals he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. By Martin Crutsinger. SENT: 850 words, photo.
TAX OVERHAUL HIGH TAX STATES Q&A — A newly announced rule from the IRS could hit high-tax states hard. A federal policy will thwart states' efforts to help residents work around a new cap on how much of their state and local taxes they can deduct on their federal income-tax returns. Here are questions and answers about the IRS rule announced Thursday, what it means for states and how high-tax states might respond. By Geoff Mulvihill. SENT: 600 words, photo.
FIREEYE-PROFILE —This week has seen major social media sites step up their policing of online disinformation campaigns. Google disabled dozens of YouTube channels and other accounts linked to a state-run Iranian broadcaster running a political influence campaign. Facebook removed 652 suspicious pages, groups and accounts linked to Russia and Iran. Twitter took similar action shortly thereafter. The link to these announcements? The security firm FireEye, which alerted tech companies to some of the suspicious activity. By Mae Anderson. UPCOMING: 500 words, photo by 3 p.m.
MARKETS & ECONOMY:
FINANCIAL MARKETS — U.S. stocks are moving broadly higher in afternoon trading, steering the benchmark S&P 500 index toward an all-time high. By Marley Jay. SENT: 500 words, photo. UPCOMING: 700 words by 5 p.m., photos.
DURABLE GOODS — Orders for long-lasting U.S. factory goods fell 1.7 percent in July, the third decrease in the past four months. By Josh Boak. SENT: 250 words, photo.
AP POLL TRUMP TRADE — Fewer than half of Americans expect President Donald Trump's tariffs will do much to help the U.S. economy. That's according to a new poll from The Associated Press-NORC Center for Public Affairs Research. Majorities of Americans also doubt the recently announced taxes on imports will increase jobs or wages at home. The survey found that 35 percent of Americans think the tariffs will leave them worse-off financially, while only 19 percent expect improvement. By Josh Boak and Emily Swanson. SENT: 950 words, photo, graphic.
FOR PROFIT COLLEGES — As Education Secretary Betsy DeVos crafts a shift in the regulatory landscape that stands to benefit for-profit colleges, lawsuits and complaints against the multibillion-dollar industry are unfolding. It's a complete turn-around from the Obama administration, which pushed to police for-profit schools more aggressively and to forgive student debt for those who were charged top dollar for degrees that turned out to be worthless pieces of paper. By Richard Lardner and Collin Binkley. SENT: 1,500 words, photo.
GROWING GRID COSTS — Electric utilities are pouring billions of dollars into a race to prevent terrorists or enemy governments from shutting down the power grid and everything that depends on electricity in America's hyper-connected society. By Emery P. Dalesio. SENT: 1,000 words, photos.
CIGNA-DEAL-SHAREHOLDER APPROVAL — Cigna shareholders back the insurer's planned takeover of pharmacy benefit manager Express Scripts, a deal that activist investor Carl Icahn had urged them to reject earlier this month. SENT: 130 words.
LEBANON SQUEEZED ECONOMY — Nearly four months after Lebanon's first parliamentary elections in nine years, Prime Minister-designate Saad Hariri has not succeeded in forming a new Cabinet due to political bickering between rival groups increasing pressure on the country's economy. The political paralysis adds to a years-long crisis made worse by Syria's war, the influx of a million Syrian refugees and massive debt that has made Lebanon the third-worst indebted country in the world. By Fadi Tawil. SENT: 900 words, photos.
MONEY & MARKETS SUMMARY:
Hibbett Sports nosedived after the retailer followed up a weak second quarter by slashing its forecasts for the rest of this year.
Trump tariffs tarnish copper
Industrial metal prices have tanked this summer, as investors increasingly worry about the potential impact of President Trump's tariffs on industrial goods and the escalating trade war with China.
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