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BC-APFN-Business News Digest

August 28, 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.

TOP STORIES:

TRUMP TRADE-US-CANADA-EXPLAINER — President Donald Trump’s drive to revamp the North American Free Trade Agreement has taken an odd turn that complicates his effort to replace that deal with one more favorable to American workers: He’s so far snubbed Canada. How did the Trump administration cut a preliminary trade deal with Mexico while winding up at odds with one of America’s closest allies — and one of the few with which it runs a trade surplus? Trump and Prime Minister Justin Trudeau must now try to patch up their relationship and preserve a three-nation trade bloc that companies across North America have come to depend on. By Paul Wiseman and Rob Gillies. UPCOMING: 900 words by 3 p.m.

With:

TRUMP-TRADE-US-CANADA — Developments as Canadian trade negotiators meet Tuesday with their counterparts in Washington in the wake of a preliminary U.S.-Mexico trade agreement. By Josh Boak and Paul Wiseman.

And:

TRUMP-TRADE-GLANCE — What the United States and Mexico have tentatively agreed to in their preliminary trade agreement. By Josh Boak. UPCOMING: 890 words.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stocks are slightly lower after giving up an early gain. Energy companies and banks are taking modest losses. Retailers including DSW and Tiffany are climbing after strong quarterly reports. By Marley Jay. SENT: 700 words, photos. UPCOMING: Will be updated through 5 p.m.

HOME PRICES — U.S home prices climbed 6.3 percent in June from a year earlier, as affordability is becoming a greater obstacle for would-be buyers. By Josh Boak. SENT: 240 words, photos.

CONSUMER CONFIDENCE — The Conference Board releases its August index on U.S. consumer confidence. By Martin Crutsinger. SENT: 270 words, photos.

GETTING BY-HARDSHIP — Despite a strong economy, about 40 percent of American families struggled to meet at least one of their basic needs last year, including paying for food, health care, housing or utilities. That’s according to an Urban Institute survey of nearly 7,600 adults. It found the difficulties were most prevalent among adults with lower incomes or health issues, but also revealed people from all walks of life were running into similar hardships. By Sarah Skidmore Sell. SENT: 570 words, photos.

US-MEXICO-TRADE — President Donald Trump’s declaration of victory Monday in reaching a preliminary deal with Mexico to replace the North American Free Trade Agreement raised at least as many questions as it answered. By Paul Wiseman, Luis Alonso Lugo and Rob Gillies. SENT: 1,200 words, photos.

INDUSTRY:

TESLA-ELECTRIC RIVALS — While Tesla grapples with internal issues like production delays, a sometimes-erratic CEO and a recent about-face on whether to go private, its rivals are moving aggressively into the luxury electric vehicle space. By David McHugh. SENT: 1,090 words, photos.

UNIVERSITIES-TRADEMARK BULLIES — Never get between a university and its trademarks. That’s the lesson dozens of people learn every year when they unwittingly provoke the wrath of big schools and the lawyers they hire to protect their mascots, slogans and logos. Records gathered by The Associated Press show that some major universities send their lawyers after even slight perceived threats to their brands. By Collin Binkley. SENT: 1,000 words, photos.

MOXIE-COKE — Soft drink giant Coca-Cola announced it is acquiring Moxie, a long-lived and beloved New England soda brand that is the official state beverage of Maine. By Patrick Whittle. SENT: 410 words, photos.

BRANDEIS-GRAD STUDENT UNION — Graduate students at Brandeis University in Massachusetts have reached their first labor deal with the school’s administration. SENT: 140 words.

PGA-WAUGH — The PGA of America has selected former Deutsche Bank Americas chief executive Seth Waugh to be its next CEO. SENT: 810 words, photos.

3D GUN-LAWSUIT — The owner of a Texas company that makes untraceable 3D-printed guns says he has begun selling the blueprints through his website to anyone who wants to make one, despite a federal court order barring him from posting the plans online. By Jim Vertuno. SENT: 270 words, photos.

EARNINGS:

EARNS-BEST BUY — Best Buy Co. saw the biggest quarterly sales growth at established stores in 15 years, helping push revenue and profit beyond Wall Street expectations. By Damian J. Troise and Ann D’Innocenzio. SENT: 540 words, photos.

TECHNOLOGY & MEDIA:

FILM-FALL PREVIEW-NETFLIX’S BIG OSCAR SEASON — This fall will be, by a wide measure, Netflix’s most ambitious movie season yet. On tap for the streaming service are films from a healthy percentage of Hollywood’s most acclaimed filmmakers, including Alfonso Cuaron, Paul Greengrass, Nicole Holofcener, the Coen brothers and even Orson Welles. It’s a slate that would be the envy of most movie studios, and it could put Netflix on a collision course with Oscars. UPCOMING: 900 words by 2 p.m. EDT, photos. By Film Writer Jake Coyle. NOTE: This is part of an ongoing fall preview package.

TRUMP-GOOGLE — President Donald Trump lashed out at U.S. tech companies, accusing Google and others of suppressing conservative voices and “hiding information” and good news. He cited no evidence for the claim, which echoes both his own attacks on the press and a conservative talking point. Darlene Superville and Barbara Ortutay. SENT: 850 words, photos. Incorporates TRUMP-SOCIAL MEDIA.

INTERNATIONAL:

AFRICA-BRITAIN — British Prime Minister Theresa May pledged Tuesday to make Britain the biggest investor in Africa from the developed world, as she began a three-nation tour of the continent. By Andrew Meldrum. SENT: 580 words, photos.

CYPRUS-BANK-BAD LOANS — Cyprus’ biggest lender, the Bank of Cyprus, says it had sold 2.7 billion euros ($3.1 billion) worth of bad loans to New York-based Apollo Global Management, the largest such deal in the east Mediterranean island-nation’s history. SENT: 140 words.

FRANCE-MINISTER RESIGNS — France’s high-profile environment minister unexpectedly announced his resignation live on national radio Tuesday, lamenting the government’s lack of decisive action on green issues. The move deals a stinging blow to the environmental credibility of President Emmanuel Macron. By John Leicester. SENT: 620 words, photos.

GREECE-CABINET RESHUFFLE — Key members of the Greek government, including those involved in the country’s creditor-mandated bailout program such as Finance Minister Euclid Tsakalotos, have retained their positions in a cabinet reshuffle. SENT: 140 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Radiant results

Tiffany & Co. shares climbed after the luxury jeweler reported forecast-topping sales and earnings and also raised its full-year profit forecast.

CENTERPIECE

Turkey triggers flashback

Turmoil in Turkey is bringing back unpleasant memories of the 1997-1998 Asian financial crisis. The Turkish lira has plummeted 26 percent against the U.S. dollar since the end of May, causing other emerging market currencies to buckle.

Business News Supervisor Richard Jacobsen (800-845-8450, ext. 1680). For photos (ext. 1900.) For graphics/interactives (ext. 7636.) For access to AP Newsroom and technical issues: customersupport@ap.org, or 877-836-9477. Questions about transmission of financial market listings, call 800-3AP-STOX.

The full digest for AP’s Money & Markets service can be found at markets.ap.org. For questions about M&M content, contact Greg Keller at (212) 621-7958.

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