BC-Business News Preview
Among the stories Tuesday from The Associated Press:
FINANCIAL MARKETS — U.S. stocks shot higher Tuesday morning after sharp losses in the first few minutes of trading, raising hopes of a halt to a global sell-off in the stock market. The early gains follow the market’s steepest drop in six and a half years and losses on major indexes in Asia and Europe. Trading promised to be choppy on what could be one of the most closely-watched days on the markets in years. By Marley Jay. SENT: 850 words, photos. UPCOMING: 1,000 words by 5 p.m.
FINANCIAL MARKETS-TERMS — The Dow Jones industrial average is in correction territory. Algorithmic trading is partly responsible. Investors watching the stock market’s sudden plunge might be hearing terminology they haven’t heard in years. A look at what it means. By Michelle Chapman. UPCOMING: 500 words by noon, photos.
FINANCIAL MARKETS-TRUMP — For months, President Donald Trump boasted that he was steering the U.S. stock market to new heights. Yet the sudden cratering of stocks has served as a reminder that the financial markets pivot on forces that owe more to computerized trading programs and global central banks than a president’s policies or force of personality. The same markets that cheered Trump’s tax cuts now dread the risk of high inflation and the prospect of steadily higher interest rates that could undercut stock prices and corporate profits. By Josh Boak. UPCOMING: 800 words by 3 p.m.
— MARKET PLUNGE-Q&A — Investors may be wondering how to react to a dramatic sell-off in the stock market after months of tranquility. The answer can be one of the toughest parts of investing: Stay calm. Experts say people should be making their investments as part of a long-term plan, one that won’t be hijacked by a few days of losses. By Sarah Skidmore Sell. SENT: 600 words, photos.
— DOW-BIGGEST DECLINES-GLANCE
THE NEW DISNEY — Disney already owns Pixar, Marvel and Star Wars; now it’s adding Fox’s TV and movie studios to the mix and preparing to launch two separate streaming services, one for sports and another focusing on entertainment. It’s Disney’s big bet on what the next generation of entertainment will look like. By Mae Anderson. UPCOMING: 400 words by 5 p.m., 600 words by 6 p.m., photos. Will incorporate BC-US--Earns-Disney.
OLYMPICS WITHOUT TV-VIEWERS GUIDE — What’s available online, on apps and on virtual reality during the Winter Olympics, which starts Wednesday evening. By Anick Jesdanun. UPCOMING: 900 words by 2 p.m., photos.
MARKETS & ECONOMY:
TRADE GAP — The U.S. trade deficit hit the highest level in nine years in 2017, defying President Donald Trump’s efforts to bring more balance to America’s trade relationships. By Paul Wiseman. SENT: 250 words, photo.
JOB OPENINGS — The Labor Department reports on job openings and labor turnover for December. By Christopher Rugaber. UPCOMING: 130 words after release of report at 10 a.m. 350 words by 11:15 a.m.
CENTRAL BANKS-VIRTUAL CURRENCY — A top international banking official says that central banks should be prepared to intervene to prevent virtual currencies becoming a threat to financial stability. SENT: 150 words.
CHINA-SOLAR — One of China’s biggest makers of solar panels says it will invest $309 million to expand manufacturing in India in a move to guard against what it complained is a rising threat of import controls in the United States and other markets. Joe McDonald. SENT: 590 words, photo.
SPACE X-NEW ROCKET — SpaceX is set the first test flight of its big new rocket from Florida. If it succeeds, it will be the world’s most s most powerful rocket in operation today. By Aerospace Writer Marcia Dunn. Developing: Launch window 1:30 p.m. to 4 p.m., photos, video
SINGAPORE-BOEING — Boeing has announced more than $900 million in orders at the Singapore Airshow from companies in the region and beyond. By Annabelle Liang. SENT: 150 words.
NERDWALLET-ASK BRIANNA-TAX REFUND — A tax refund is a chance to do what we all know we should do, but somehow avoid: change our ways. Here’s how to get your refund fast now, then use it to build a savings account you can pull from when necessary — and avoid an anxious wait again next year. By Brianna McGurran of NerdWallet. UPCOMING: 800 words by 11 a.m., photos.
GENERAL MOTORS-RESULTS — A $7.3 billion accounting charge pushed General Motors into a $3.9 billion net loss for 2017, but without the expense the company posted record per-share earnings. By Tom Krisher. SENT: 3100 words, photos.
EARNS-CHIPOTLE — Chipotle Mexican Grill Inc. reports quarterly financial results after the market close.
BRITAIN-EARNS-BP — BP’s fourth-quarter earnings increased five-fold as it benefited from higher oil prices, increased production and lower costs. By Danica Kirka. SENT: 240 words.
JAPAN-EARNS-TOYOTA — Toyota is seeing a nearly doubling of profit for the fiscal third quarter, and it lifted its annual profit projection through March to 2.4 trillion yen ($22 billion), a record high for the Japanese automaker. By Yuri Kageyama. SENT: 320 words, photos.
BRITAIN-TESCO — The trial in Britain of three former Tesco supermarket executives accused of accounting fraud has collapsed after one of the defendants was hospitalized. SENT: 130 words.
CHINA-MERCEDES-DALAI LAMA — Mercedes-Benz has apologized in China for quoting the Dalai Lama, the Tibetan spiritual leader who is reviled by Beijing, in a social media post abroad in a reflection of foreign companies’ heightened sensitivity to the Communist government’s possible reaction to their activities worldwide. By Joe McDonald. SENT: 590 words, photo.
BRITAIN-ECONOMY — While high inflation, low unemployment and stable growth would usually prompt the Bank of England to raise interest rates, concerns over Brexit are likely to stay its hand on Thursday. By Pan Pylas. SENT: 750 words, photos.
GERMANY-ECONOMY — Germany’s biggest industrial union and employers have reached a wage deal that gives workers the equivalent of 3.5 percent annual raises over a 27-month period and the chance to work a 28-hour week for up to two years. By David McHugh. SENT: 650 words, photo.
MALAYSIA-SINGAPORE-STOCK-LINK — Malaysian and Singapore regulators said Tuesday the two countries will establish a link to connect their stock markets by the end of the year to cut trading costs and woo cross-border investments. By Eileen Ng. SENT: 290 words.
CHINA-US — China’s senior foreign policy adviser will meet with U.S. Secretary of State Rex Tillerson later this week, state media reported, amid concerns over North Korea and growing trade tensions. SENT: 180 words, photo.
INDIA-MISSING OIL TANKER — The crew of a missing Indian oil tanker regains control of the ship from pirates who had hijacked it off Benin’s coast, the vessel’s management company said. SENT: 230 words.