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BC-APFN-Business News Digest

June 5, 2018

Here are AP Business News’ latest coverage plans, top stories and promotable content. All times EDT

TOP STORIES:

HOW AMERICA SAVES — An annual review by Vanguard shows that most people with money in its 401k plans have their entire account in a single target-date retirement fund. These funds help investors properly allocate their savings so that, for example, a young person won’t be invested too conservatively. By Stan Choe. SENT: 860 words, photos.

MYSTERY ROBOTS — It’s never been clear whether robotics company Boston Dynamics is making killing machines, household helpers, or something else entirely. But the secretive firm, which for seven years has unnerved viewers with YouTube videos of robots that jump, gallop or prowl like animals, is starting to emerge from a quarter-century of stealth. By Matt O’Brien. SENT: 1,230 words, photos. An abridged version of 800 words is also available.

QATAR-THRIVING UNDER BLOCKADE — It’s been a year since three of Qatar’s neighbors plus Egypt severed ties with the Gulf state, cut off exports, expelled their citizens and banned Qatari flights from using their airports and airspace. By Aya Batrawy. SENT: 1,350 words, photos.

BRITAIN-SKY — Britain’s culture secretary threw Rupert Murdoch’s 21st Century Fox a lifeline Tuesday in its 11.7 billion-pound ($16.4 billion) bid to buy the 61 percent of the U.K. satellite broadcaster Sky it doesn’t already own. By Danica Kirka. SENT: 350 words, photos.

With: — BRITAIN-SKY-THE LATEST — Running updates.

KOCH STEPS DOWN — Billionaire conservative icon David Koch is stepping down from the Koch brothers’ network of business and political activities. By Steve Peoples. SENT: 560 words, photo.

KATE SPADE-DEATH — Kate Spade, a fashion designer known for her sleek handbags, was found hanged in the bedroom of her Park Avenue apartment Tuesday in an apparent suicide, law enforcement officials said. By Colleen Long. SENT: 460 words, photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS — U.S. stocks are mostly higher after posting solid gains over the last two days. Technology companies are rising further and the smallest companies are also making gains. SENT: 630 words, photos. UPCOMING: Will be updated through 5 p.m.

ECONOMY-SERVICES — U.S. services firms expanded at a stronger pace in May compared to the prior month, as companies saw gains in business activity, new orders and employment. By Josh Boak. SENT: 280 words, photos.

JOB OPENINGS — U.S. businesses posted the most job openings on record in April for the second straight month, underscoring the economy’s strong demand for workers. By Christopher Rugaber. SENT: 510 words, photos.

WORLD BANK-GLOBAL FORECAST — The World Bank issues its semi-annual outlook for the global economy. In its previous forecast in January, the World Bank predicted that global growth would hit 3.1 percent in 2018, which would amount to its best showing in seven years, and that the U.S. economy would expand 2.5 percent. In recent months, though, the rising threat of a global trade war has raised some concerns about economic growth. By Paul Wiseman. UPCOMING: 130 words after embargo lifts at 4 p.m., 300 words by 5 p.m.

TRUMP-TRADE — President Donald Trump has failed to get what he wants from three-way trade talks with Canada and Mexico. So now his administration wants to pursue separate deals with the two U.S. neighbors to try to supplant the North American Free Trade Agreement, which Trump has condemned as a job-killing disaster. Problem is, economists say, one-on-one trade pacts don’t tend to work very efficiently. And Canada and Mexico, angry that the U.S. has slapped tariffs on their steel and aluminum, seem unlikely to compromise with Washington. By Paul Wiseman. Upcoming: 800 words at 3:30 p.m.

INDUSTRY:

MALAYSIA-TAKATA AIRBAG — Malaysia’s transport minister says that the government will take an active role in recalls to replace flawed Takata air bags after data from eight car manufacturers showed that more than 350,000 car owners have not responded. By Eileen Ng. SENT: 550 words, photo.

BRITAIN-RBS — The British government sells a 7.7 percent stake in Royal Bank of Scotland, taking a tentative step toward returning the bank to private ownership almost a decade after it was bailed out at the height of the financial crisis. By Danica Kirka. SENT: 460 words, photo.

NEWELL BRANDS-RAWLINGS SALE — Newell Brands is selling iconic sporting goods company Rawlings to a private equity fund for about $395 million. SENT: 130 words, photos.

AUSTRALIA-BANKS-CHARGED — Australia has laid cartel charges against banking companies Citigroup, Deutsche Bank and ANZ plus six bank executives over the sale of 2.5 billion Australian dollars ($1.9 billion) in ANZ shares to institutional investors three years ago. SENT: 130 words.

AUSTRALIA-AIRLINE POLITICS — Australia’s foreign minister expresses concern at Qantas Airways’ decision to describe Taiwan as a Chinese territory after pressure from Beijing. By Rod McGuirk. SENT: 520 words, photo.

AUSTRALIA-SUPERMARKET PLASTICS — Australians will find fewer plastics on the shelves at most supermarkets as retailers bend to customer demands to reduce waste. By Rod McGuirk. SENT: 350 words.

WORLD CUP-MONEY GAME — The 2018 World Cup has cost Russia billions of dollars to stage and will make FIFA hundreds of millions in profit. Still, the big numbers that are routine for major sports events are unlikely to set World Cup records. By Graham Dunbar. SENT: 920 words, photos.

TRAVEL-WELLNESS TOURISM — Never mind staying fit on the road: For some travelers, wellness has become the whole point of the trip. By Kelli Kennedy. SENT: 900 words, photos.

IMMIGRATION-LANDSCAPER STING — U.S. immigration agents made more than 100 arrests Tuesday at an Ohio gardening and landscaping company, one of the largest such stings in recent years and part of the Trump administration’s growing crackdown on employers for hiring people who are in the country illegally. By John Minchillo and Elliot Spagat. SENT: 520 words, photos.

WELLS FARGO-SALE — Wells Fargo is exiting retail banking operations in three Midwestern states as the beleaguered company follows through on previous plans to reduce the number of locations it has open. SENT: 120 words, photos.

SPORTS BETTING — The market for legal sports gambling in the United States widened significantly on Tuesday with the expansion of single-game sports bets in Delaware, putting legal wagering within driving distance of three major East Coast cities less than a month after the U.S. Supreme Court cleared the way for states to accept the bets. By Randall Chase and Ben Nuckols. SENT: 750 words, photos.

LORD & TAYLOR FLAGSHIP — Lord & Taylor is abandoning plans to keep a store in the Fifth Avenue flagship it is selling, as the chain’s owner closes more stores and focuses on online sales. By Anne D’Innocenzio. SENT: 140 words.

TECHNOLOGY & MEDIA:

TRUMP-TWITTER-LAWSUIT — The market for legal sports gambling in the United States widened significantly on Tuesday with the expansion of single-game sports bets in Delaware, putting legal wagering within driving distance of three major East Coast cities less than a month after the U.S. Supreme Court cleared the way for states to accept the bets. SENT: 350 words, photos.

PERSONAL FINANCE:

NERDWALLET-ASK BRIANNA-DOWN PAYMENT — You don’t need to save 20 percent of a home’s value for a down payment. Many federal, state and local programs will let you buy a house with less. Here’s an overview of your options and how to decide what’s best for you. By NerdWallet columnist Brianna McGurran. SENT: 740 words, photos.

PETS-NERDWALLET-SUBSCRIPTION BOXES — You may be familiar with monthly subscription boxes for humans, but there are also options like BarkBox, PupBox and Meowbox that send deliveries to your four-legged friend. Are these subscriptions worth it? Here’s how to weigh the pros and cons before signing up your dog or cat. By Courtney Jespersen. SENT: 800 words, photos.

INTERNATIONAL:

MALAYSIA-POLITICS — Anti-corruption investigators question the wife of former Malaysian Prime Minister Najib Razak about alleged theft and money-laundering involving the 1MDB state investment fund, as officials announced a probe into other suspicious multibillion-dollar transactions under Najib’s leadership. By Eileen Ng. SENT: 930 words, photos.

BRITAIN-ECONOMY — The British economy appears to be bouncing back following a period of near-stagnation that had reinforced fears about the impact of Brexit, surveys indicate. By Robert Stevens. SENT: 550 words.

BRITAIN-HEATHROW — The British government approves the construction of a third runway at Heathrow Airport — a decision that puts the long-running issue to an uncertain parliamentary vote. By Danica Kirka. SENT: 570 words, photos.

CHINA-NKOREA-AIRLINE — State-owned Air China is resuming flights to North Korea’s capital, Pyongyang, amid preparations for a possible meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un. SENT: 180 words, photo.

AUSTRIA-EU — Austrian Chancellor Sebastian Kurz is urging the European Union to cut management costs as Vienna prepares to take over the bloc’s rotating presidency next month. SENT: 130 words, photo.

And:

AUSTRIA-PUTIN — Russian President Vladimir Putin arrives in Austria, one of the European Union’s more Russia-friendly members, on his first foreign trip since being sworn in for a fourth term. SENT: 230 words, photo.

ITALY-POLITICS — Italian Premier Giuseppe Conte declared Europe’s immigration policy a “failure” and demanded for it to be renegotiated as he outlined a heavy-spending domestic policy agenda of Italy’s populist “government of change”. By Nicole Winfield. SENT: 820 words, photos.

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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