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BC-APFN-Business News Digest

September 25, 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:

VERSACE-SALE — Michael Kors is buying the Italian fashion house Gianni Versace in a deal worth more than $2 billion (1.83 billion euros), continuing its hard charge into the world of high-end fashion. By Anne D’Innocenzio and Michelle Chapman. SENT: 830 words, photos.

INSTAGRAM FOUNDERS RESIGN — The co-founders of Instagram are resigning their positions with the social media company without explanation. SENT: 580 words, photos.

JAPAN-WIRED CHILDREN — The Associated Press visited Coby Preschool, in a town northeast of Tokyo, where toddlers use tablets to color birds and flowers that appear to come alive as 3-D computer graphics. Experts say the applications are meant to encourage creativity and collaboration, although they warn of the risks of relying too heavily on technology. By Yuri Kageyama. SENT: 1,240 words, photos.

CHANGING YOGURT — If low-fat yogurt is blended with fatty ingredients like coconut or chocolate, is it still low-fat? Is it even yogurt? The dairy industry has reason to believe the Trump administration’s deregulation efforts will extend to yogurt so it can finally use the term with greater liberty. By Candice Choi. SENT: 930 words, photos.

With:

— CHANGING YOGURT-REBEL FOODS —Bred-Spred, Chil-Zert and Cashewgurt are some of the products that defy the rules foods with certain names. SENT: 490 words.

TRUMP-UNITED NATIONS — Promoting his aggressive “America First” agenda, President Donald Trump delivered a sharp rebuke of global governance at the United Nations on Tuesday, drawing headshakes and even laughter from fellow world leaders as he boasted of America’s economic and military might. By Jonathan Lemire and Zeke Miller. SENT: 1,230 words, photos, video, audio.

MARKETS & ECONOMY:

FED-3 THINGS TO WATCH FOR — The Federal Reserve is all but sure to announce Wednesday that it’s raising its key short-term interest rate for the third time this year and will likely signal another likely hike in December. But what about next year, when the impact of the U.S. trade war will be increasingly felt? Here are three things to watch for after the Fed meeting ends. By Martin Crutsinger. SENT: 1,010 words, photos.

FINANCIAL MARKETS — U.S. stock indexes are mixed as energy companies continue to rise with oil prices. By Marley Jay. SENT: 970 words, photos. UPCOMING: Will be updated through 5 p.m.

HOME PRICES — U.S. home prices rose in July at the slowest pace in 10 months as home sales have stumbled amid higher mortgage rates. By Christopher Rugaber. SENT: 400 words, photos.

CONSUMER CONFIDENCE — U.S. consumer confidence shot up to an 18-year high in September. By Paul Wiseman. SENT: 210 words, photos.

EARNINGS:

EARNS-NIKE — Nike caused an uproar online earlier this month with its ad featuring former NFL quarterback Colin Kaepernick that debuted ahead of the NFL season start. But its stock is up and sales have jumped. On Tuesday, it will report its quarterly earnings. UPCOMING, 130 words after release around 4 p.m., then expanded.

INDUSTRY:

SWITZERLAND-NOVARTIS-JOB CUTS — Novartis says it’s cutting some 2,100 jobs in Switzerland and Britain over several years as the Swiss pharmaceuticals giant tweaks its corporate structure to become more nimble and more efficient. SENT: 200 words.

NEAR COLLISION-SAN FRANCISCO AIRPORT — Video captured the moment that an Air Canada jet flew off course and just over four other jetliners filled with passengers late on a July night last year in San Francisco. On Tuesday, the National Transportation Safety Board will meet to determine the probable cause of the close call. SENT: 350 words, photos. UPCOMING: Will be updated from hearing, scheduled to begin at 1:30 p.m.

TRUMP-MILEAGE STANDARDS — The Trump administration’s proposal to roll back national fuel economy standards was headed for its second public hearing a day after California officials and scores of speakers blasted it as a danger to the environment and public health. By Sudhin Thanwala. SENT: 800 words, photos.

HERRING FISHING — The little herring is one of the most important fish on the East Coast, and federal fishing managers will consider a host of potentially major changes to the industry that harvests the species. By Patrick Whittle. SENT: 400 words. UPCOMING: Will be updated mid-afternoon after the meeting, which starts at 9 a.m.

NAVAJO COAL PLANT — Hopi tribal officials are calling on the federal government to explore other options for the Navajo Generating Station near Page. SENT: 130 words.

BRITAIN-RYANAIR — Budget airline Ryanair has cancelled 190 flights scheduled for Friday because of strikes by cabin crew in Spain, Belgium, Holland, Portugal, Italy and Germany. SENT: 130 words.

SONIC-ACQUISITION — Arby’s owner Inspire Brands is buying the Sonic drive-in hamburger chain. SENT: 140 words, photos.

WATERBED REVIVAL — Waterbeds still elicit a wink, wink, nudge, nudge whenever they come up in conversation. But two pioneers of the industry in the United States are hoping to generate a new wave of popularity for the old furniture concept by using a wholesome new pitch. By Jennifer Kay. SENT: 120 words, photos.

BMW-PROFIT WARNING — German luxury automaker BMW says its profits and sales will fall short of its forecasts this year because of fears over international trade conflicts and as new emissions tests affect the pricing of cars. By David McHugh. SENT: 410 words.

AMERICAN AIRLINES-ZOE’S KITCHEN — American Airlines is expanding its inflight food options with the addition of a light and healthy Mediterranean menu. SENT: 130 words.

DUNKIN’ DONUTS — Dunkin’ is dropping the donuts — from its name, anyway. Doughnuts are still on the menu, but the company is renaming itself ’Dunkin” to reflect its increasing emphasis on coffee and other drinks. SENT: 140 words, photos.

CALIFORNIA-GAS TAX — Opponents of the California gas tax increase passed by state legislators last year to finance infrastructure improvements are proposing a new ballot measure for 2020 aimed at creating a new financing arrangement and eliminating the state’s high speed rail project. SENT: 260 words, photos.

TECHNOLOGY & MEDIA:

EUROPE-ONLINE REGULATION — Music streaming sites Spotify and Deezer are among European tech companies and trade associations calling on EU officials to toughen proposed legislation aimed at combating unfair business practices by U.S. giants like Apple, Google and Amazon. By Kelvin Chan. SENT: 410 words, photo.

PERSONAL FINANCE:

NERDWALLET-FIRST CREDIT CARD — If your first credit card has a low limit, using it to cover everyday expenses might be out of the question. But the card can still help you build a good credit history. By NerdWallet columnist Claire Tsosie. SENT: 880 words, photos.

INTERNATIONAL:

BREXIT — Britain’s main opposition Labour Party says it will reject Prime Minister Theresa May’s proposed Brexit deal with the European Union when it comes to a vote in Parliament, saying the government was offering the country a choice between “really bad and even worse.” By Jill Lawless. SENT: 720 words, photos.

PALESTINIANS-GAZA ECONOMY — The Gaza Strip’s economy is in “free fall,” a report from the World Bank warned Tuesday, calling for urgent action by Israel and the international community to avoid “immediate collapse.” SENT: 500 words, photo.

GERMANY-WORLD TRADE — The head of the World Trade Organization says the whole international community has a responsibility to reduce tensions and avert a full trade war, which would produce “no winners.” SENT: 130 words, photo.

CHINA-US TRADE — Fu Ziying, China International Trade Representative; Wang Shouwen, Deputy China International Trade Representative, and other officials brief reporters on the “White Paper on the Facts and China’s Position on China-U.S. Trade Friction”

ARGENTINA-CENTRAL BANK — Argentina says its central bank chief has resigned amid negotiations with the International Monetary Fund. SENT: 380 words, photos.

With:

ARGENTINA-STRIKE — A nationwide strike to protest the Argentine government’s handling of the country’s economic crisis is grounding flights and paralyzing bus and train lines. SENT: 130 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Michael Kors adds some shine

Michael Kors is buying the Italian fashion house Versace in a deal worth more than $2 billion, continuing its charge into the world of high-end fashion.

CENTERPIECE

Sweet leaf or sour diesel?

Canada will legalize retail marijuana in October, and analysts say the market there is worth billions. Investors are tantalized by the industry’s possibilities, but pot companies have limited track records and their stock prices have swung wildly.

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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