BC-APFN-Business News Preview
Among the stories Monday from The Associated Press:
TECHNOLOGY’S TRUST PARADOX — Technology giants like Facebook, Google and Amazon ask us to trust them with ever-more sensitive aspects of our lives, from our relationships to our private conversations. But there’s a catch: If they prove unworthy of that trust, the repercussions are scant and alternatives seem hard to find. By Anick Jesdanun and Ryan Nakashima. UPCOMING: 900 words by 2 p.m., photos.
NET NEUTRALITY ROLLBACK — Consumers aren’t likely to see immediate changes following Monday’s formal repeal of Obama-era internet rules that had ensured equal treatment for all. Rather, any changes are likely to happen slowly, and companies will try to make sure that consumers are on board with the moves, experts say. By Mae Anderson. UPCOMING: 450 words, photos.
AP POLL-TRUST IN MEDIA — There’s substantial agreement on what Americans want from the news media and what journalists want to report, according to a pair of studies that also reveal a troubling caveat: a nagging feeling among both the ideal isn’t being met. By David Bauder. SENT: 760 words, graphic.
FEDERAL RESERVE — Another interest rate increase is all but certain when the Federal Reserve meets this week. What’s not so certain is whether the vigorous U.S. economy will lead the Fed to accelerate its rate hikes in the coming months ahead — something that would raise the risk of a recession. By Martin Crutsinger. UPCOMING: 800 words by noon, photo.
TRUMP-G-7 — President Donald Trump took more swipes at Canada and its prime minister over trade issues as he settled in for a summit with North Korea in Singapore, contending that “Fair Trade is now to be called Fool Trade if it is not Reciprocal.” By Ken Thomas, Catherine Lucey and Rob Gillies. SENT: 860 words, photos, audio, video.
TRUMP LAWYER-IMMIGRATION FIRM — AT&T and drug giant Novartis got nothing but bad publicity when they asked Donald Trump’s personal attorney Michael Cohen for help with business, but a Florida immigration firm that tapped him appears to have gotten nearly everything it wanted. By Bernard Condon. SENT: 1,150 words, photos.
TRUMP-FOREIGN FAVORS — A Maryland federal judge will hear arguments in a case accusing President Donald Trump of violating the Constitution by accepting payments from foreign and state governments. By Tami Abdollah. SENT: 150 words. UPCOMING: Will be updated from hearing, scheduled for 10 a.m.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Stocks are opening higher on some corporate deal news. There was little immediate response to the turbulent end of the Group of Seven meeting. SENT: 650 words, photos. UPCOMING: 700 words by 5 p.m.
SMALLBIZ-GET STARTED — More small business owners may be able to get government-backed loans after Congress gave the Small Business Administration the power to increase the yearly limit on loans it guarantees. By Joyce M. Rosenberg. SENT: 320 words.
VOLKSWAGEN-DIESEL EMISSIONS — German prosecutors say they have expanded their probe into manipulation of emissions controls at Volkswagen’s Audi division to include Audi’s CEO, Rupert Stadler. SENT: 150 words, photo.
BANNING LEGAL BROTHELS — A state marketed as a place where people can indulge in all manner of sins is confronting its status as the only place in America where you can legally pay someone for sex. By Michelle L. Price. SENT: 1,100 words, photos.
KKR-ENVISION ACQUISITION — KKR is buying physician services provider and surgery center operator Envision Healthcare Corp. in an approximately $9.9 billion deal. SENT: 230 words.
USG-ACQUISITION — German building materials maker Knauf is buying American building products maker USG in an approximately $7 billion deal. SENT: 120 words.
DETROIT-TRAIN STATION-FORD — Owners of the vacant, hulking 105-year-old Michigan Central Station are planning to make an announcement about its future. SENT: 150 words, photo. UPCOMING: Will be updated.
SUPREME COURT-WRIGLEY FIELD — The Supreme Court is leaving in place a court decision dismissing a lawsuit filed against the Chicago Cubs by the owners of rooftop clubs adjacent to Wrigley Field. SENT: 130 words.
TECHNOLOGY & MEDIA:
SKOREA-CRYPTO EXCHANGE-HACK — A South Korean cryptocurrency exchange said Monday hackers have stolen about one-third of the coins traded on its market, an announcement that sent bitcoin prices tumbling to a two-month low. By Youkyung Lee. SENT: 180 words.
NERDWALLET-LIZ WESTON-TAXES IN RETIREMENT — Your tax situation in retirement may be a lot more complicated than it is while you’re working. Your Social Security benefits, retirement plan withdrawals and other factors could affect how you are taxed in retirement. By Liz Weston. NerdWallet. UPCOMING: 820 words by 11 a.m., photos.
BRITAIN-ECONOMY — Manufacturing output in Britain fell in April at its fastest rate in five and a half years, a development that raises questions over an anticipated economic rebound in the second quarter. By Pan Pylas. SENT: 360 words.
BREXIT — British Prime Minister Theresa May is urging feuding Conservative lawmakers to unite and prevent the government from being defeated in key votes on its main Brexit bill. SENT: 340 words.
And: EUROPE-BREXIT — German business groups are pressing for clarity from Britain on its plans for a post-Brexit relationship with the European Union, and urging London to allow companies’ employees “uncomplicated” access. SENT: 140 words.
GERMANY-MERKEL FINANCE — German Chancellor Angela Merkel meets with heads of OECD, IMF, WTO, ILO and the chief executive of the World Bank, plus the head of the African Development Bank. This is an annual meeting, being held for the 10th time.
JORDAN-ECONOMY — Three Gulf Arab states pledged $2.5 billion in aid to Jordan on Monday in an effort to stabilize the U.S.-allied kingdom as it faces its worst protests in years over government austerity plans that include tax increases. By Abdullah Al-Shiri. SENT: 360 words, photos.
JAPAN-MALAYSIA — Malaysian Prime Minister Mahathir Mohamad says he supports free trade but small countries like his should unite in a broad group to deal with challenges, especially as America is turning protectionist. By Mari Yamaguchi. SENT: 380 words, photos.