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.
AMAZON HQ-ECONOMIC IMPACT — The awarding of Amazon’s second headquarters to two cities that will each receive half the prize has set off intense speculation over one question: Will the economic payoff be worth it — for Amazon and for the two areas that offered up billions in financial incentives and subsidies to the company? By Christopher Rugaber. SENT: 1,000 words, photos.
AMAZON HQ-IMPACT ON REAL ESTATE 7/8— With Amazon bringing 25,000 jobs to Long Island City, a two-bedroom condo with views of Manhattan is suddenly seen as a bargain at $1.1 million. Real estate agents there and in Crystal City, Virginia, the other winner of the Amazon second-headquarters sweepstakes, are suddenly flooded by inquiries from would-be buyers, investors seeking become landlords and sellers who’ve now decided to wait for prices to go up, up, up. Some wonder whether real estate in the two localities is destined to price out all but the affluent, as critics say has happened in Amazon’s Seattle headquarters city. By Josh Boak. UPCOMING: 750 words, photos.
More on Amazon in the TECHNOLOGY & MEDIA SECTION
ON THE MONEY-SAFE TRAVEL — Travel agents say the Lion Air crash is making some Americans more wary about flying on smaller global airlines. International air travel has become remarkably safe in recent years, with deadly accidents like last month’s Lion Air crash in Indonesia becoming more rare. There are resources consumers can check on airline safety and reliability before they plunk down big money for an overseas trip. By David Koenig. UPCOMING: 870 words by 10 a.m., photos.
SCIENCE SAYS-GENE EDITED FOOD — The next generation of biotech food is headed for the grocery aisles, and first up may be salad dressings or granola bars made with soybean oil genetically tweaked to be good for your heart. By Lauran Neergaard. SENT: 1,300 words, photos, video.
NKOREA-RALLYING THE CADRES — North Korean leader Kim Jong Un visits factory after factory around his country to inspect their work, give on-the-spot guidance and rally people around his ambitious economic campaign. For North Korean factory managers, the visit by their leader is the highest of honors and quite possibly the most stressful event imaginable. By Eric Talmadge. SENT: 950 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — U.S. stocks have turned lower in morning trading, erasing a modest early rally and extending the market’s losses from a day earlier. By Alex Veiga. SENT: 670 words, photos. UPCOMING: Will be updated through 5 p.m.
OIL MARKET — The International Energy Agency says that global oil supplies are growing rapidly as Saudi Arabia, the United States and Russia pump more oil in response to fears of higher prices as a result of renewed U.S. sanctions on Iran. By David McHugh. SENT: 320 words, photo.
FEDERAL RESERVE-POWELL — Federal Reserve Chairman Jerome Powell speaks in Dallas on a panel about the economic outlook. By Martin Crutsinger. 130 words after embargo on prepared remarks lifts at 6 p.m. 400 words by 6:45 p.m.
CONSUMER PRICES — Consumer prices climbed 0.3 percent in October, with higher prices for gasoline, used autos and housing contributing to the increase. By Josh Boak. SENT: 250 words, photos.
FORD-WALMART-DELIVERY — Ford and Walmart are teaming up to test a self-driving grocery delivery service. SENT: 140 words, photos.
CHICK-FIL-A-DELIVERY — Chick-fil-A customers no longer have to go get their chicken because the chicken will come to them. SENT: 130 words, photo.
DETROIT-CASINO SALE — Businessman and Cleveland Cavaliers owner Dan Gilbert has reached a $1 billion agreement to sell the Greektown Casino-Hotel in downtown Detroit, one of the city’s three casinos. SENT: 310 words, photo.
SOUTHWEST FATAL ACCIDENT-NTSB —A federal safety board hearing into a deadly Southwest Airlines flight is expected to focus on jet-engine fan blades. The National Transportation Safety Board is scheduled to question witnesses from Boeing and engine maker CFM International about the fatal accident in April. A fan blade broke and debris struck the plane, killing a 43-year-old woman who was blown partly out a broken window. By David Koenig and Claudia Lauer. SENT: 380 word, photos.
BEHIND THE WHEEL-BLACK FRIDAY — Over the last decade, Black Friday weekend became a bona-fide sales event in the car business. In 2015, for example, it accounted for more than 18 percent of all car deals made that month. But Black Friday isn’t the sales juggernaut it once was. By Matt Jones of Edmunds. SENT: 700 words, photo.
POSTAL SERVICES-FINANCES — The U.S. Postal Service is reporting a financial loss for the 12th straight year, citing declining mail volume as well as the costs of its pension and health care obligations. By Hope Yen. SENT: 650 words.
INSURANCE COMPANY LAYOFFS — Nationwide intends to eliminate the jobs of about 1,100 employees across the country — around 3.6 percent of its workforce. SENT: 130 words.
SMALLBIZ-SMALL TALK-HOLIDAY PARTIES — Business owners concerned about sexual misconduct as well as the safety of their staffers and guests are eliminating or limiting alcohol at their holiday parties. By Joyce M. Rosenberg. SENT: 910 words, photos.
NORTHERN CALIFORNIA WILDFIRE-UTILITY LAWSUIT — Shares in PG&E are trading at their lowest level in more than a decade with some Californians who have lost homes saying that the power company is at fault for the state’s deadliest and most destructive wildfire. SENT: 130 words, photos.
TECHNOLOGY & MEDIA:
AMAZON-TRUMP TAX BREAK — Long Island City, the Queens neighborhood selected by Amazon for one of its new headquarters, is almost entirely in a federal “opportunity zone,” an often-overlooked designation in President Donald Trump’s tax overhaul that offers developers potentially millions of dollars in tax breaks to invest in struggling areas. Critics question whether such an incentive is necessary in a rapidly gentrifying area where there’s already plenty of new development. By Bernard Condon and Stephen Braun. SENT: 850 words, photos.
AMAZON HQ-REJECTED — The dozen and a half North American cities Amazon jilted when it picked New York and Virginia as the split hosts of its new headquarters are bearing the rejection with a mix of optimism and reflection. But while they’re missing out on the economic boost_for now —they’ve also dodged giving away billions in tax incentives. By Michael Catalini. UPCOMING: 700 words by 2 p.m.
UNITED STATES-CHINA-TECH RISK — A congressional advisory panel says the purchase of internet-linked devices manufactured in China leaves the United States vulnerable to security breaches that could put critical infrastructure at risk. By Matthew Pennington. SENT: 610 words, photo.
HAILING REWARDS — Uber and Lyft are rolling out loyalty programs similar to airline frequent flyer miles. SENT: 140 words.
MEDIA-CNN VS TRUMP — President Donald Trump’s administration contends it has “broad discretion” to regulate press access to the White House as it fends off a legal challenge from CNN and other outlets over the revocation of journalist Jim Acosta’s “hard pass.” SENT: 280 words, photos.
EARNS-MACY’S — Macy’s is heading into the crucial holiday season firing on all cylinders, logging its fourth consecutive quarter of sales growth at existing locations and getting strong reactions from customers both online and in its stores. By Anne D’Innocenzio. SENT: 770 words, photos.
BREXIT — British Prime Minister Theresa May says that a draft divorce deal with the European Union delivers the Brexit that Britons voted for, as she tried to persuade her divided Cabinet that it must back the agreement or plunge the U.K. into political and economic uncertainty. By Jill Lawless. SENT: 920 words, photos.
With: — BREXIT-THE LATEST — Running updates.
— BRITAIN-ECONOMY — Official figures show inflation in Britain held steady above the Bank of England’s target level in October. SENT: 130 words.
ASEAN — Leaders of Southeast Asian nations have pushed back yet again an agreement on a pan-Asian free trade deal amid a whirlwind of diplomacy Wednesday at their annual summit. By Annabelle Liang and Elaine Kurtenbach. SENT: 980 words, photos.
APEC — After three decades of promoting free trade as a panacea to poverty, the APEC grouping of nations that includes the U.S. and China is holding its lavish annual leaders’ meeting in the country that can least afford it, Papua New Guinea. By Stephen Wright and Jim Gomez. SENT: 930 words, photos.
JAPAN-ECONOMY — The Japanese economy shrank at an annualized rate of 1.2 percent in July-September, as consumer spending, investment and exports fell, according to government data released Wednesday. By Yuri Kageyama. SENT: 280 words, photo.
GERMANY-ECONOMY — Germany’s economy shrank slightly in the third quarter of 2018, the first quarterly decline since early 2015, largely because of bottlenecks in getting new cars certified under tougher emissions tests. By David Rising and David McHugh. SENT: 360 words, photos.
ITALY-BUDGET — Italian borrowing costs have risen after the populist government resubmitted draft budget proposals without the significant changes sought by the European Commission. By Colleen Barry. SENT: 460 words, photos.
IRAN-ECONOMY — Iran executed the so-called “Sultan of Coins” and his accomplice for hoarding gold coins and other hard currency, signaling zero tolerance as it tries to shore up its currency in the face of an economic crisis. SENT: 190 words.
UKRAINE-HEATING CRISIS — Ukraine’s prime minister accuses local officials of causing a crisis that has left hundreds of thousands without heat in freezing weather. SENT: 350 words, photo.
SWITZERLAND-GOLD-HUMAN RIGHTS — Switzerland’s executive is calling for greater transparency and information about imports of gold into the rich Alpine country, warning that the industry has been linked to human rights violations and other wrongs like environmental damage. SENT: 340 words.
MALAYSIA-CORRUPTION — Malaysia’s anti-graft agency says the wife of ex-Prime Minister Najib Razak will face new corruption charges, along with two former government officials and a businessman. SENT: 240 words.
GREECE-STRIKE — Civil servants in Greece walked off the job in a 24-hour strike to protest austerity measures, demanding wage and pension increases as well as the abolition of all legislation as part of the country’s international bailouts. SENT: 270 words, photos.
OLY-2026-CALGARY BID — Calgary’s bid to host the 2026 Winter Olympics was rebuffed on Tuesday when local voters said “no” in a nonbinding referendum. SENT: 550 words, photos.
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