BC-APFN-Business News Digest
This is a digest of AP Business News stories moving overnight or in the morning. The business desk will reopen at 6 a.m. If you have issues overnight please call 212-621-1600. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at newsroom.ap.org
FEDERAL RESERVE — It’s widely expected that the Federal Reserve will modestly raise its benchmark interest rate for the second time this year when its latest policy meeting ends Wednesday afternoon. But less certain is whether it will provide any signals to markets that it may accelerate future rate hikes. By Martin Crutsinger. UPCOMING: 750 words by 3 a.m. Will be updated with 2 p.m. release of Fed statement and 2:30 p.m. Powell news conference.
AT&T-TIME WARNER-FUTURE MEDIA DEALS — Comcast will likely bid for Fox’s entertainment business as early as Wednesday now that a federal judge has cleared AT&T’s $85 billion takeover of Time Warner. If Comcast succeeds in outbidding Disney for Fox, a major cable distributor would control even more channels on its lineup and those of its rivals. There are fears that it could lead to higher cable bills or hinder online alternatives. But U.S. District Judge Richard Leon cleared the AT&T deal Tuesday despite similar fears. By Mae Anderson. UPCOMING: 750 words, photos by 2:30 a.m.
MARKETS & ECONOMY:
FINANCIAL MARKETS — A report on global markets, starting in Asia and updated through the close of trading on Wall Street.
PRODUCER PRICES — The Labor Department reports on U.S. producer price inflation in May. By Paul Wiseman. UPCOMING: 130 words after release of report at 8:30 a.m. 300 words by 9:15 a.m.