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BC-Business News Digest

July 5, 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:

US-CHINA TARIFFS-THE CASUALTIES — The U.S. and Chinese governments have been flashing a lot of bravado just before firing the first shots in a conflict that risks escalating into a mutually damaging trade war. Yet among people and business in both countries that are now under threat from higher costs, closed-off markets and deep uncertainties, there is far less confidence. A trade war between the world’s two biggest economies will leave casualties. By Paul Wiseman and Christopher Rugaber. UPCOMING: 950 words by 3 p.m.

With:

CHINA-US-TRADE WAR WORRIES — China says it’s girded for a trade war with the U.S. and can give as good as it gets, but behind the official bravado lies a deep unease over trade friction with Washington. By Christopher Bodeen and Joe McDonald. SENT: 1,090 words, photos. Incorporates China-US-Trade.

And:

— US-CHINA-TARIFFS-THE LATEST — Running updates.

— More on trade in a separate section below.

OF MUTUAL INTEREST-ARTIFICIAL INTELLIGENCE — Can a computer do a better job investing your money than a flesh-and-blood portfolio manager? ETF Managers Group unveiled a fund in November that leaves investment decisions up to a computer. Its CEO discusses the advantages of this type of investing. By Alex Veiga. SENT: 650 words, photo.

BOEING-EMBRAER — Boeing and Brazilian jet maker Embraer will attempt to form a joint venture that would push the U.S. aerospace giant into the market for smaller airliners. By David Koenig. SENT: 540 words, photo.

Only on AP:

TRUMP-RUSSIA-OLIGARCH’S INFLUENCE — In American financial circles, Viktor Vekselberg was known for decades a man who got deals done — sometimes with Russian President Vladimir Putin’s blessing. By Garance Burke and Stephen Braun. SENT: 2,500 words, photos. An abridged version of 970 words also is available.

More on TRADE:

CHINA-US-TECH RELIANCE — Chinese telecoms giant ZTE Corp.’s brush with death after Washington barred it from buying U.S. components was a stark reminder that China’s industries still depend on American technology despite Beijing’s efforts to catch up. By Joe McDonald. SENT: 1,030 words, photos. First moved late Wednesday night.

With:

CHINA-TECH PLAYERS — Technology and U.S. anxiety about Chinese competition are at the center of the trade dispute between the world’s two largest economies. Here are some of China’s biggest names in telecoms equipment, clean energy and medical equipment. SENT: 850 words, photos.

MARKETS & ECONOMY:

IRAN-US-OIL — Iran’s representative to OPEC says U.S. President Donald Trump should stop tweeting about wanting lower oil prices, saying that doing so has the opposite effect. SENT: 120 words.

FINANCIAL MARKETS — Technology companies led U.S. stocks broadly higher, turning major indexes higher for the week. By Alex Veiga. SENT: 600 words, photos. UPCOMING: Will be updated through end of trading.

ADP-EMPLOYMENT — A private survey shows that American businesses added 177,000 workers in June, a sign of health and resilience for the U.S. labor market and economy. By Josh Boak. SENT: 280 words, photo.

MORTGAGE RATES — Long-term U.S. mortgage rates fell this week, offering a slight degree of relief to would-be homebuyers. By Josh Boak. SENT: 230 words, photo.

ECONOMY-SERVICES — U.S. service firms expanded at a surprisingly strong pace in June as companies saw gains in business activity and new orders. By Martin Crutsinger. SENT: 320 words, photos.

FEDERAL RESERVE-MINUTES — The Federal Reserve releases minutes from its June meeting when it took note of a resilient economy and raised its benchmark interest rate for the second time this year. By Martin Crutsinger. UPCOMING: 130 words after 2 p.m. release, 400 words by 2:45 p.m.

PUERTO RICO-ECONOMIC CRISIS — Puerto Rico’s governor announces that his administration will sue a federal control board to resolve a disagreement over two competing budgets that aim to pull the U.S. territory out of an 11-year recession. By Danica Coto. SENT: 420 words, photo.

INDUSTRY:

STARBUCKS-CUSTOMER COMPLAINT — Starbucks says an employee in Philadelphia has been fired after reportedly mocking a customer with a stutter. SENT: 140 words.

LEGAL MARIJUANA-BLACK MARKET — Marijuana is legal in California, but the state’s thriving illegal cannabis market is undercutting those playing by the rules. By Michael Balsamo. SENT: 1,020 words, photos, video.

ICE CREAM FIGHT — A battle between two dessert companies — Mister Cookie Face and 600 lb Gorillas — is heating up in Boston’s federal courthouse. And it all started with an ice cream sandwich. By Alanna Durkin Richer. SENT: 400 words, photo.

TECHNOLOGY & MEDIA:

RUSSIA-GOOGLE-DATA — Google says its document writing tool Google Documents was secure even as Russian internet users discovered scores of files that appeared to be intended for private use. SENT: 220 words, photo.

RUSSIA-US-MEDIA — A Moscow court has fined U.S. government-funded Radio Free Europe/Radio Liberty 100,000 rubles ($1,600) for failing to comply with Russia’s foreign agents law. SENT: 130 words.

NEW ZEALAND-KIM DOTCOM — Flamboyant internet entrepreneur Kim Dotcom and three of his former colleagues have lost their latest bid to avoid extradition to the U.S. to face criminal charges. By Nick Perry. SENT: 430 words, photo.

RESPONDING-BAD ONLINE REVIEWS — A bad review can easily damage the reputation of a small business. Failing to address negative social media and online posts could make it worse. Here are some key points for business owners. By Damian Troise. SENT: 380 words, photo. Also moved in a previous cycle.

INTERNATIONAL:

WCUP-MIGRANT WORKERS — Behind the veneer of Russia’s smooth-running World Cup are legions of migrant workers from Central Asia, who deal with discrimination but form a pillar of the economy. By Angela Charlton and James Ellingworth. SENT: 1,080 words, photos.

Also:

EUROPE-RUSSIA-SANCTIONS — The European Union has extended sanctions against Russia over its actions in Ukraine for another six months. SENT: 130 words.

BREXIT — British Prime Minister Theresa May’s office disclosed details of a plan for customs ties with the European Union that she hopes will unite warring pro-Brexit and pro-EU factions of her Conservative government. By Jill Lawless. SENT: 550 words, photos.

GERMANY-ECONOMY — German factory orders surged in May, beating economists’ expectations and ending a string of declines. SENT: 130 words, photo.

JAPAN-NUCLEAR — Japan’s nuclear policy-setting body endorses a call for stricter management of its fuel recycling program to reduce its plutonium stockpile. By Mari Yamaguchi. SENT: 570 words, photos.

BRAZIL-CORRUPTION — A Brazilian Supreme Court justice has ordered the suspension of the labor minister as part of a corruption investigation. SENT: 180 words, photo.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Boeing, Embraer fly off together

U.S. aerospace giant Boeing and Brazilian jet maker Embraer say they plan to form a joint venture that would push Boeing more aggressively into the regional aircraft market. UPCOMING: Graphic expected by 6 p.m.

CENTERPIECE

Nike regains its footing

Nike is regaining its footing in the athletic market, and reclaiming share on its home turf it had lost to smaller European rival Adidas. UPCOMING: Graphic expected by 6 p.m.

Business News Supervisor Dorothea Degen (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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