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BC-APFN-Business News Digest

November 12, 2018

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.

TOP STORIES:

AMAZON HQ-TWO CITIES — Two communities have reportedly emerged as the favorites for two major new offices for Amazon. Crystal City, Virginia, is a neighborhood of somewhat dated, ’80s-era office buildings and underground tunnels wedged between the nation’s capital, Reagan National Airport and the Pentagon. Long Island City, on the Queens side of New York’s East River, is fast seeing its industrial past erased by fancy new towers and luxury condos. By Jennifer Peltz and Matthew Barakat. SENT: 1,150 words, photos.

FINANCIAL MARKETS — Steep drops in technology stocks pull U.S. indexes lower, knocking 500 points off the Dow Jones Industrial Average. By Alex Veiga. SENT: 680 words, photos. UPCOMING: 700 words by 5 p.m.

GROWING UP DIGITAL-CASHLESS KIDS — A wave of pocket money apps aims to help children save and spend their allowances in an increasingly cashless world. By Kelvin Chan. SENT: 900 words, photos.

MARKETS & ECONOMY:

ABU DHABI-OIL — OPEC and allied oil-producing countries will likely need to cut crude supplies, perhaps as much as 1 million barrels of oil a day, to rebalance the market after proposed U.S. sanctions on Iran failed to cut Tehran’s output, Saudi Arabia’s energy minister said. By Jon Gambrell. SENT: 700 words, photos.

INDUSTRY:

SPORTS BETTING-COMMUTERS — With sports betting being advertised all around them but the opportunity to actually do it restricted to just one nearby state, gamblers from New York and Pennsylvania are crossing bridges and tunnels into New Jersey to make legal sports bets. By Wayne Parry. SENT: 810 words, photos.

COTY-CEO — The top executive at the New York cosmetics maker Coty is leaving less than a week revealing that significant supply chain problems sapped revenue during the first quarter, and its chairman has been replaced as well. SENT: 170 words, photo.

FRANK SINATRA-AUCTION — More than 200 items belonging to Frank and Barbara Sinatra ranging from movie scripts to jewelry are going up for auction. SENT: 150 words, photos.

TECHNOLOGY & MEDIA:

ATHENAHEALTH-SALE — Athenahealth shares soar after the struggling medical billing software maker received a $5.7 billion cash buyout offer. By Tom Murphy. SENT: 360 words, photo.

JAPAN-SOFTBANK — Japanese technology company SoftBank Group Corp. will carry out an initial public offering of its Japanese mobile subsidiary, set for Dec. 19, in what will likely be one of the world’s biggest IPOs. By Yuri Kageyama. SENT: 350 words, photo.

MTV-SNOWGLOBE MUSIC FESTIVAL — MTV is expanding its live events business in the U.S. by acquiring the SnowGlobe Music Festival. SENT: 140 words, photo.

FRANCE-CYBERSECURITY PACT — Fifty nations and over 150 tech companies pledged Monday to do more to fight criminal activity on the internet, including interference in elections and hate speech. But the United States, Russia and China are not among them. By Sylvie Corbet. SENT: 280 words, photos.

PERSONAL FINANCE:

NERDWALLET-LIZ WESTON-HOLIDAY SPENDING — The holidays are a huge deal in the Weston household — and every year, the expenses threatened to gallop out of control. Keeping the holiday joyous and less stressful means keeping a firm rein on our spending. Here’s what we do, along with smart frugal tips from others. By Liz Weston, NerdWallet. SENT: 710 words, photo.

INTERNATIONAL:

NKOREA-OFF THE GRID — More than 20 years after his father almost bargained them away for a pair of nuclear reactors, North Korean leader Kim Jong Un has his nuclear weapons — and a nation still plagued by chronic blackouts. By Eric Talmadge. SENT: 1,250 words, photos.

And:

KOREAS-DIPLOMACY — South Korea has airlifted 200 tons of tangerines to North Korea in return for shipments of pine mushrooms by the North in September, officials said Monday. By Hyung-Jin Kim. SENT: 530 words, photos.

BREXIT — Britain’s European Union partners ratchet up political pressure on Prime Minister Theresa May amid signs that some progress is being made in Brexit negotiations. By Lorne Cook and Jill Lawless. SENT: 780 words, photos.

SINGAPORE-CHINA — Chinese Premier Li Keqiang has stressed the need for free trade as he drew similarities between his country and Singapore, a bustling regional hub. By Annabelle Liang. SENT: 300 words, photos.

Also:

SINGAPORE-MALAYSIA — Singapore’s leader vows to strengthen ties with Malaysia, which is now led by a historic rival following a game-changing election. By Annabelle Liang. SENT: 440 words, photos.

VIETNAM-TRADE — Vietnam’s National Assembly ratifies a Pacific Rim trade deal abandoned by U.S. President Donald Trump, but still being pushed forward by 11 other members. SENT: 270 words.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Coty CEO resigns

The top executive at New York cosmetics maker Coty resigned less than a week after revealing that significant supply chain problems sapped revenue during the first quarter. UPCOMING.

CENTERPIECE

Gaining from gridlock

Some find political gridlock deeply frustrating. Not health care investors. A divided Congress is just what they want, experts say. UPCOMING.

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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