BC-Business News Digest
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.
OF MUTUAL INTEREST-BEST OF TIMES FOR INVESTORS — Investors have entered a golden era, where it’s never been so cheap or easy to put money into the market. Perhaps the only downside in all of this is that it didn’t happen sooner. Because while it may be the best time to be an investor, it’s not necessarily the best time to be investing. If analysts are right and a downturn is approaching, it will be up to investors not to turn all these newfound advantages and trading tools into implements of destruction. By Stan Choe. SENT: 790 words, photos.
US-CHINA TARIFFS — China tried to step up pressure on Washington in their growing tariff war by suggesting U.S. companies lobby American leaders, while a Korean union warned President Donald Trump’s threat of higher auto import duties could lead to job losses in Alabama. By Joe McDonald and Youkyung Lee. SENT: 900 words, photos.
— US-CHINA TARIFFS-CHICAGO MAYOR — Chicago Mayor Rahm Emanuel, on a mission to salvage business deals threatened by a tariff war, said that Chinese officials expressed confidence they can survive the spiraling dispute with Washington. By Yanan Wang. SENT: 340 words, photos.
— CHINA-TESLA-5 THINGS — Electric vehicle producer Tesla Inc. says it will build its first factory outside the United States in Shanghai. Here are five things to know about Tesla’s China plans. SENT: 550 words, photos.
PAPA JOHN’S-APOLOGY — Papa John’s founder John Schnatter is no longer CEO or chairman, but his image is still in the center of the company’s logo and he owns nearly a third of the company. Experts say the pizza chain may need to distance itself further from John Schnatter, who has brought negative attention to the brand by complaining about NFL player protests and reportedly using a racial slur. By Candice Choi. SENT: 530 words, photos.
PRIME DAY-SMALL BUSINESSES — As Amazon gears up for its Prime Day promotion, other big-name retailers plan to ride on its coattails. But small businesses — including those that don’t sell much online — shouldn’t sit on the sidelines. By Anne D’Innocenzio. SENT: 590 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — U.S. stocks are rising as technology companies like Apple resume their upward march. Software company CA is soaring after chipmaker Broadcom agreed to buy it for $18.9 billion. Health care and industrial companies are also higher. By Marley Jay. SENT: 800 words, photos. UPCOMING: Will be updated through 5 p.m.
CONSUMER PRICES — Consumer prices rose in June from a year earlier at the fastest pace in more than six years, lifted by more expensive gas, car insurance, and higher rent. By Christopher Rugaber. SENT: 560 words, photos.
BUDGET DEFICIT — The Treasury Department releases federal budget data for April. By Martin Crutsinger. UPCOMING: 130 words after release of report at 2 p.m. 250 words by 2:45 p.m.
MORTGAGE RATES — Long-term U.S. mortgage rates edged higher this week, marking their first increase since early June. By Marcy Gordon. SENT: 310 words, photos.
ALTERNATIVE INSURANCE — An Iowa law approved this spring in the Republican-controlled Legislature would allow the conservative and politically powerful Iowa Farm Bureau to offer health plans that skirt requirements of the Affordable Care Act. But several months after a ceremonial bill signing, few details are available about how the plans will work for people with rising health insurance costs.
DOCKLESS SCOOTER SCUFFLE — Milwaukee is suing a company whose business model of renting motorized scooters has stirred outrage from public officials in two dozen American cities, which argue the scooters are unsafe and a nuisance because they’re left on sidewalks after riders are done with them. By Ivan Moreno. UPCOMING: 1,000 words, photos
SLEEP APNEA — It’s been two decades since doctors fully recognized that breathing that stops and starts during sleep is tied to a host of health issues, but there still isn’t a treatment for sleep apnea that most people find easy to use. Airway pressure masks are the most common therapy, but many people won’t use them. New remedies including mouthpieces and a surgical implant are vying for a place in the bedrooms of millions of people craving a good night’s sleep. By Carla K. Johnson. SENT: 1,140 words, photos.
MEDICAL CENTER NURSES — A union says 1,800 nurses at Vermont’s largest medical center are on strike following unsuccessful contract negotiations. SENT: 140 words.
UNITED NATIONS-US-NORTH KOREA-OIL — The United States says North Korea is illegally smuggling refined petroleum products into the country beyond the quota of 500,000 barrels per year allowed under U.N. sanctions. SENT: 140 words.
EARNS-DELTA AIR LINES — Delta is topping most profit expectations for the second-quarter, but it’s slashing its outlook for the year, citing a $2 billion spike in fuel costs. SENT: 470 words, photos.
TECHNOLOGY & MEDIA:
SKOREA-SAMSUNG BIOLOGICS — A South Korean regulator says Samsung Biologics has intentionally breached accounting rules. By Youkyung Lee. SENT: 520 words, photo.
CZECH-UBER — Uber is to give the Czech Republic’s finance ministry information on its drivers’ activities so the proper amount of tax is paid. SENT: 100 words, photo.
ONLINE SALES TAXES-UTAH — Utah lawmakers are starting to hammer out a way to collect sales tax on online purchases after a landmark U.S. Supreme Court ruling cheered by state leaders.
BRITAIN-SKY — Britain’s culture secretary has cleared the way for 21st Century Fox’s bid for Sky following pledges that it will safeguard the independence of Sky News. SENT: 140 words.
TESLA-TAX CREDIT — Tesla Inc. says its customers won’t get the full $7,500 federal electric vehicle tax credit after Dec. 31. SENT: 140 words.
EMMY NOMINATIONS — “Game of Thrones” roared back onto the Emmy battlefield, topping Thursday’s nominations with 22 bids but facing a formidable opponent in “The Handmaid’s Tale,” last year’s top drama series. SENT:
SKOREA-ECONOMY — South Korea’s central bank cuts its forecast on the country’s economy, citing mounting uncertainties from the U.S.-China trade battle. By Youkyung Lee. SENT: 210 words, photos.
BREXIT — The British government released detailed plans Thursday for what it calls a “principled pragmatic and ambitious” Brexit — plans that have already triggered the resignation of two top ministers, and which face likely resistance from the European Union. By Jill Lawless. SENT: 790 words, photos.
VIETNAM-PROTESTS — A court in south central Vietnam has sentenced six people to up to two-and-a-half years in prison after finding them guilty of throwing rocks, bricks and gas bombs at police in protests against a proposed law on special economic zones. SENT: 270 words. UPCOMING: Will be updated.
VIETNAM-CORRUPTION — The ruling Communist Party of Vietnam has disciplined the country’s communications minister for approving a mobile phone operator’s purchase of a stake in a private pay TV provider, a deal that caused serious financial losses to the state. SENT: 130 words.
EUROPE ECONOMY — Top officials at the European Central Bank expressed confidence at their last policy meeting that the eurozone economy remains “broadly on track” but expressed concern that rising trade protectionism could dampen business confidence and blunt the recovery. By David McHugh. SENT: 550 words, photos. UPCOMING: Will be updated.
BELGIUM EU ECONOMY — Eurogroup finance ministers to meet in Brussels for regular monthly meeting and EU Financial Affairs Commissioner Pierre Moscovici holds news conference on the bloc’s Summer Interim Forecast. UPCOMING, timing uncertain.
MONEY & MARKETS SUMMARY:
New York-based CA Technologies’ shares soared to an 18-year high after Silicon Valley chipmaker Broadcom said it would pay nearly $19 billion in cash to buy it in a bid to become a world-leading IT infrastructure provider.
It’s not often that a $1 billion purchase looks cheap in retrospect. But Facebook’s 2012 acquisition of Instagram easily clears that bar.
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