BC-APFN-Business News Digest
Here are AP Business News’ latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan at newsroom.ap.org.
THE DEBT THREAT — Concerns are building from Washington to Wall Street about the trillions of dollars in debt that U.S. businesses have racked up, particularly companies with relatively weak finances. By Stan Choe. SENT: 1,140 words, photos, graphics.
DEBT THREAT-GLOSSARY — Business borrowing has boomed since the economy emerged from the Great Recession, and investors have been more than happy to lend to companies. The corporate debt market can be difficult for the lay investor to parse, with lots of technical definitions. Here’s a look at some of the terms. SENT: 430 words.
CHINA-CANADA-DETENTIONS — By detaining Canadians in an apparent act of retribution, China is looking like the country its toughest critics have said it is: A regime unbound by the rules governing major industrialized economies. Canada arrested a Chinese executive at America’s request but gave her a public hearing and released her on bail. Beijing apparently lashed back by arresting two Canadians - and has kept their whereabouts secret and the charges vague. China’s tactics could backfire. The U.S. and other major economies are reassessing Beijing’s place in the global economic system. By Paul Wiseman. UPCOMING: 850 words.
APPLE-NEW CAMPUSES — One tech giant strung dozens of North American cities through a circus-like contest that led mayors and governors to desperately pitch their regions — and offer huge sums of public money — in hopes of landing a gleaming new corporate campus. The other swept in quietly before making its big move. By Michael Liedtke, Matt O’Brien and Will Weissert. SENT: 880 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Stocks are sagging after weak economic data from China has investors worrying about the global economy again. China’s government said industrial output and retail sales both slowed in November. By Marley Jay. SENT: 820 words, photos. UPCOMING: Will be updated through 5 p.m.
INDUSTRIAL PRODUCTION — U.S. industrial production climbed 0.6 percent on surging output at mines and utilities. But manufacturing production was flat. By Paul Wiseman. SENT: 110 words.
RETAIL SALES — U.S. retail sales increased a slight 0.2% in November, as strong sales tied to holiday shopping were offset by lower gasoline prices. By Josh Boak. SENT: 420 words, photos.
CHINA-US-TRADE — China announces a 90-day suspension of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth. By Joe McDonald. SENT: 460 words, photos.
UNITED STATES-CANADA-CHINA— The U.S. and Canada are holding high-stakes talks amid an escalating dispute with China that threatens to further complicate ties between the North American neighbors. By Matthew Lee and Rob Gillies. SENT: 130 words, photos.
VOLKSWAGEN — Volkswagen, which last year vied for the title of world’s largest carmaker, says it is on track to beat that performance with a new annual sales record — despite trouble getting vehicles certified for new European emissions tests. By David McHugh. SENT: 270 words, photos.
GENERAL MOTORS-JOBS — The General Motors’ massive 14,000-person layoff announced last month might not be as bad as originally projected. By Tom Krisher. SENT: 770 words.
LOAN FORGIVENESS — The U.S. Education Department says it will start forgiving federal loans for 15,000 former students whose colleges closed before they could graduate. By Collin Binkley. SENT: 140 words.
PAINKILLERS-LAWSUIT — A Kentucky appeals court says the secret testimony from a former president of one of the world’s largest manufacturers of dangerously addictive opioid painkillers must be released to the public. By Adam Beam. SENT: 140 words.
TECHNOLOGY & MEDIA:
SPAIN-SHAKIRA — Spanish prosecutors are charging pop music star Shakira with tax evasion, alleging she failed to pay more than 14.5 million euros ($16.3 million) between 2012 and 2014. SENT: 270 words, photos.
FACEBOOK-PHOTO BUG — Facebook says a software bug may have exposed a broader set of photos to app developers than users had granted permission for. By Barbara Ortutay. SENT: 390 words, photos.
THE WEEKLY STANDARD-SHUTTERS — Conservative magazine The Weekly Standard is closing down after 23 years.The publisher, Clarity Media Group, is citing fewer subscribers as the reason. The Weekly Standard was often critical of President Donald Trump. SENT: 110 words.
SEXUAL MISCONDUCT-CBS — CBS is pledging $20 million in support of 18 organizations dedicated to eliminating sexual harassment in the workplace as the network tries to recover from the scandal that led to the ouster of its top executive, Les Moonves. SENT: 130 words.
NERDWALLET-LIVE CHECKS — Everyone can use extra cash for the holidays, but be cautious if that cash comes unsolicited in the mail. “Live checks” are actually personal loans, often with high interest rates and multiyear terms. Understand the costs and risks of live checks before you cash in. By NerdWallet columnist Steven Nicastro. SENT: 900 words, photo.
BREXIT — European Union leaders expressed deep doubts Friday that British Prime Minister Theresa May can live up to her side of their Brexit agreement and they vowed to step up preparations for a potentially-catastrophic “no-deal” scenario. By Lorne Cook and Jill Lawless. SENT: 690 words, photos.
CLIMATE — Bleary-eyed and pale after almost two weeks of negotiations, officials from almost 200 countries gathered Friday to discuss the first comprehensive draft agreement to emerge at the U.N. climate talks in Poland, mindful that the clock was ticking to reach a deal. By Frank Jordans. SENT: 820 words, photos.
CONGRESS-SAUDI ARABIA — In back-to-back votes against Saudi Arabia, the Senate delivered an unusual rebuke of President Donald Trump’s response to the death of journalist Jamal Khashoggi and signaled new skepticism from Capitol Hill toward the longtime Middle East ally. By Mary Clare Jalonick, Lisa Mascaro and Matthew Lee. SENT: 970 words, photos, video.
EUROPE-ECONOMY — Leaders of the European Union have agreed to press ahead with a common eurozone budget to help the currency union weather future crises. But the proposal appeared to fall short of more sweeping ideas pushed by French President Emmanuel Macron. SENT: 130 words, photos.
MONEY & MARKETS SUMMARY:
Johnson & Johnson shares suffered their worst loss in 16 years after a media report that it knew for decades its baby power sometimes contained asbestos, and didn’t inform the public.
When America toasts the New Year, they may not be hoisting a beer. U.S. beer sales have been slowing for several years now, even as sales of spirits and wine rise.
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