BC-Business News Digest
Here are AP Business News’ latest coverage plans, top stories and promotable content. All times EDT.
FEDERAL RESERVE — The Federal Reserve is expected to modestly raise its benchmark rate for the second time this year when its latest policy meeting ends Wednesday afternoon. It will also update its forecasts for the economy and interest rates, and Chairman Jerome Powell will hold a news conference. By Martin Crutsinger. SENT: 730-word preview, photos. UPCOMING: 130 words at 2 p.m. when embargo lifts on the Fed statement, then expanded.
FEDERAL RESERVE-THE LATEST — Running updates.
FACT CHECK-US-CANADA DAIRY — President Donald Trump has condemned Canada for its hefty tariffs on dairy imports -- up to 270 percent. He’s correct - on the surface. But the U.S. imposes some monster tariffs of its own. Plus, American farmers are hardly cut off from the Canadian market: They ran a surplus with Canada last year, and dairy represents a tiny fraction of U.S.-Canada trade. By Paul Wiseman and Christopher Rugaber. UPCOMING: 700 words at 2 p.m.
SMALLBIZ-SMALL TALK-FOOD TRUCKS — A food truck selling tacos or barbecue on downtown streets may seem easy or fun, but owners quickly learn to think strategically to succeed. The novelty of the vans and carts that became a culinary fad on downtown streets has worn off, and even new trucks may not draw a crowd. Many prospective restaurateurs now use trucks as test kitchens and advertising campaigns. And food truck operators without a grand design soon realize they need a Plan B, especially for the winter. By Joyce M. Rosenberg. SENT: 1.040 words, photos.
ON THE MONEY-CASH BACK APPS — Cash back is not just for credit cards. More apps and websites are offering ways to earn money on the stuff you buy -- as long as you’re willing to sign up and make a few taps or clicks. By Joseph Pisani. SENT: 560 words, photos.
AT&T-TIME WARNER-ANTITRUST — AT&T’s victory over the government’s attempt to block its $85 billion takeover of Time Warner underscores just how much the way people watch — and pay for — TV has changed. It also highlights how corporate America wants to adapt to deal with its new environment. In short: Bigger is better. By Marcy Gordon and Mae Anderson. SENT: 700 words, photos. First moved Monday night.
AT&T-TIME WARNER-FUTURE MEDIA DEALS — Now that a federal judge has approved AT&T’s $85 billion takeover of Time Warner, other companies are likely to rush to consolidate. By Mae Anderson. SENT: 900 words, photos. First moved Monday night.
— COMCAST-FOX-SHARES IN MOTION — A federal court ruling this week has sent shares of Comcast, Twenty-First Century Fox and Disney into motion, with major media companies potentially on the brink of a bidding war. SENT: 130 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — U.S. stocks are mixed after a federal court ruled in favor of AT&T’s acquisition of Time Warner. That could pave the way for other megadeals in the media and phone industries, and investors bet that big deals in the health care field also have a better chance of getting approved now. By Marley Jay. SENT: 900 words, photos. UPCOMING: Will be updated through 5 p.m.
PRODUCER PRICES — U.S. wholesale prices last month posted the biggest 12-month gain since January 2012, a sign that the strong economy is beginning to rouse inflation. By Paul Wiseman. SENT: 220 words, photo.
JAPAN-TOYOTA-GRAB — Japan’s top automaker Toyota Motor Corp. is investing $1 billion in Grab, the leading ride-hailing company in Southeast Asia, the company said Wednesday. By Yuri Kageyama. SENT: 240 words, photos.
TRUMP-OIL PRICES — President Donald Trump is declaring that oil prices are too high and blaming a coalition of countries that control a significant portion of the world’s supply of crude petroleum. SENT: 130 words.
TRAVEL-TABASCO-AVERY ISLAND — One of the world’s most famous condiments is celebrating its 150th birthday: Tabasco. By Beth J. Harpaz. SENT: 130 words, photos. UPCOMING: Will be expanded.
MEDICAL LAB-DOCTOR BRIBES — Two brothers who ran a bribes-for-referrals health fraud scam that brought in more than $100 million over several years were due in court Wednesday to face sentencing, in a case that already has produced more than 50 guilty pleas or convictions. By David Porter. SENT: 380 words, photos.
SPORTS BETTING — Atlantic City’s Borgata casino will start taking bets on sporting events Thursday morning. The casino tells The Associated Press it will begin taking sports bets at 11 a.m. That’s 30 minutes after Gov. Phil Murphy places the state’s first legal sports bet at Monmouth Park racetrack in Oceanport. By Wayne Parry. SENT: 180 words, photos.
GERMANY-VOLKSWAGEN — Automaker Volkswagen says it’s being fined 1 billion euros ($1.18 billion) by German authorities in connection with the diesel emissions scandal. SENT: 260 words.
VOLKSWAGEN-EMISSIONS SCANDAL-VERMONT — The state of Vermont and people who bought certain Volkswagen diesel models that were rigged to cheat on emissions tests will be getting a total of $6.5 million from the automaker. SENT: 140 words.
MAPLE SEASON — Vermont’s longer-than-average maple season helped make it the nation’s largest producer of maple syrup, yielding 1.9 million gallons of the sweet stuff this year. SENT: 140 words.
TECHNOLOGY & MEDIA:
CHINA-ZTE — Shares in ZTE Corp. have fallen 41.5 percent in Hong Kong after the Chinese telecoms equipment maker agreed to pay a $1 billion penalty to the U.S. government and replace its top managers. SENT: 230 words, photo.
BITCOIN — The price of bitcoin has fallen to a four-month low of $6,370, days after South Korean virtual currency exchange Coinrail said hackers had stolen over $37 million, or almost a third of the virtual currency it had stored. SENT: 140 words.
AMAZON-SEATTLE TAX — A tax on large companies such as Amazon that was meant to fight a growing homelessness crisis got rolled back during a raucous Seattle City Council meeting that exposed divisions over how much companies that have fueled booming economies should help pay to alleviate the downsides of success. By Phuong Le. SENT: 870 words, photos.
AUSTRALIA-SUING GOOGLE — An Australian man who alleges Google defamed him won a court battle to sue the search engine giant. SENT: 380 words.
BRITAIN-DATA BREACH — Smartphone seller Dixons Carphone says it is investigating a data breach of some 5.9 million customer bank card details and 1.2 million personal data records. SENT: 130 words.
BOOKS-CLINTON SALES — Bill Clinton’s debut as a fiction writer is one of the year’s biggest hits: “The President is Missing,” the thriller he co-wrote with James Patterson, sold 250,000 copies its first week. By Hillel Italie. SENT: 490 words.
BEHIND THE WHEEL-CARGO VANS — In recent years, automakers have been coming out with new, smaller cargo vans to complement traditional full-size vans. Here is Edmunds’ take on the 2018 small cargo vans and why each is worth considering for commercial use. By Cameron Rogers. SENT: 710 words, photos.
NKOREA-RICE FARM-PHOTOS — Away from the political developments that have rocketed their country back into the international headlines, North Korean farmers are preparing for the summer season with hopes the relatively good conditions they have had so far this year will hold until the fall harvest. By Eric Talmadge. SENT: 300 words, photos.
BRITAIN-ECONOMY — Official figures show that inflation in Britain remained at an annual rate of 2.4 percent in May, suggesting the central bank may delay an expected rate increase. SENT: 130 words.
BRITAIN-GIG ECONOMY — A London plumber who claimed he was unfairly dismissed after years of working as a contractor wins a court ruling giving him employment rights, in a closely watched case testing labor rules in the so-called gig economy. By Danica Kirka. SENT: 650 words, photos.
BREXIT — The British government faced more bruising debate on its key Brexit bill Wednesday, after being forced to give ground to pro-EU lawmakers to avoid defeat. By Jill Lawless. SENT: 560 words, photos.
— BREXIT-PUB-CHAMPAGNE — A major U.K. pub chain will stop serving French Champagne and German wheat beers next month and offer more British drinks to prepare for the country’s departure from the European Union. SENT: 130 words.
MONEY & MARKETS SUMMARY:
H&R Block shares plunged after CEO Jeffrey Jones warned the tax preparer’s profit margin will shrink this year as it revamps its pricing to stay competitive.
AT&T’s green light
A federal judge’s approval of AT&T’s $85 billion deal for Time Warner could shape how much consumers pay for streaming TV and movies.
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