BC-APFN-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.
FEDERAL RESERVE — The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time. If those concerns weren’t enough, Trump has openly expressed his displeasure at the Fed’s interest rate increases — something no president has done publicly in more than two decades. By Martin Crutsinger. SENT: 930 words, photo.
ECONOMY — President Donald Trump’s top economic policymakers insisted that the robust growth marked in the April-June quarter will maintain its pace and that he respects the Federal Reserve’s independence despite his condemnation of the central bank for raising interest rates. By Marcy Gordon. SENT: 760 words, photo. First sent in previous cycle.
CBS-FUTURE IN LIMBO — After two decades heading CBS, Les Moonves could be out as he faces sexual harassment allegations. His departure could change the face of CBS as Moonves had a knack for picking hits such as “Survivor” and “The Big Bang Theory” and steered his company aggressively into the streaming arena. By Mae Anderson. SENT: 650 words, photos.
TRUMP-STEEL TARIFF — U.S. companies seeking to be exempted from President Donald Trump’s tariff on imported steel are accusing American steel manufacturers of spreading inaccurate and misleading information, and they fear it may torpedo their requests. By Richard Lardner. SENT: 1,330 words, photo. First moved in previous cycle.
BIG MAC-TURNING 50 — McDonald’s is fighting to hold onto customers as the Big Mac turns 50, but it’s not messing with the makings of its most famous burger. By Candice Choi. SENT: 650 words, photo.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Technology stocks are falling again Monday as recent Wall Street favorites like Twitter, Alphabet and Facebook extend their losses from last week. It’s a sharp turnaround for a group that had long been the stock market’s undisputed leader. By Stan Choe and Marley Jay. SENT: 760 words, photo. UPCOMING: 700 words by 5 p.m.
PENDING HOME SALES — More Americans signed contracts to purchase homes in June compared to May, but the volume of pending sales has slipped over the past year. By Josh Boak. SENT: 220 words. UPCOMING: 350 words by 10:45 a.m.
HARLEY DAVIDSON-BIGGER TENT — Smaller bikes, electric engines, online sales and urban storefronts, Harley-Davidson, we hardly knew you. SENT: 150 words, photo. UPCOMING: Will be updated.
SMALLBIZ-GET STARTED — Small companies whose success is tied to the remodeling business are looking healthy even as home sales drop. By Joyce M. Rosenberg. SENT: 410 words.
TYSON-TARIFFS — Tyson Foods is citing higher tariffs and uncertainty about trade policies in cutting its profit forecast. SENT: 130 words.
SPORTS BETTING — Two Atlantic City casinos owned by Caesars Entertainment will start taking sports bets this week, and another two in Mississippi will do so in mid-August. By Wayne Parry. SENT: 570 words, photo.
HARVEY FLOOD INSURANCE — After Hurricane Harvey’s devastating and widespread flooding last year, many Texans decided it was time to buy flood insurance. By Juan A. Lozano and Meghan Hoyer. SENT: 890 words, photos.
GERMANY-RYANAIR STRIKE — A German labor union says pilots at budget airline Ryanair have voted to stage a strike unless a dispute over pay is resolved in the coming days. SENT: 130 words.
NUCLEAR REACTORS-SOUTH CAROLINA — A South Carolina utility told a federal judge that it played by the rules, so lawmakers should too, even if it means saddling customers with billions of dollars of debt from a failed nuclear project. By Meg Kinnard. SENT: 370 words.
CATERPILLAR-RESULTS — Caterpillar’s second-quarter easily beat Wall Street expectations thanks in part to the blistering pace of construction and demand for big machines, a the company boosted its full-year earnings forecast again. SENT: 140 words, photo.
TECHNOLOGY & MEDIA:
TRUMP-MEDIA — The publisher of The New York Times says he took President Donald Trump to task for “deeply troubling anti-press rhetoric” that is “not just divisive but increasingly dangerous” when the two met privately at the White House this month. By Darlene Superville. SENT: 680 words, photos. First sent in previous cycle.
TRUMP-RUSSIA PROBE-MANAFORT — The trial of President Donald Trump’s onetime campaign chairman will open this week with tales of lavish spending, secret shell companies and millions of dollars of Ukrainian money flowing through offshore bank accounts and into the political consultant’s pocket. By Eric Tucker and Chad Day. SENT: 1,040 words, photo. First sent in previous cycle.
MEDICARE FOR ALL-COST — Sen. Bernie Sanders’ “Medicare for all” plan would increase government health care spending by $32.6 trillion over 10 years, according to a study by a university-based libertarian policy center. By Ricardo Alonso-Zaldivar. SENT: 750 words, photos.
NERDWALLET-LIZ WESTON-WHAT COLLEGE WANTS — A treasure trove of online data can help you target schools that are more likely to admit you and are generous with financial aid. By Liz Weston, NerdWallet. SENT: 780 words, photo.
PANAMA-TRANSFORMED CITY CENTER — A real estate boom has transformed the heart of Panama City in the two decades since it was declared a world heritage site, thrilling property owners but pricing most of the longtime residents out. By Juan Zamorano. SENT: 850 words, photos.
CHINA-BRITAIN-HONG KONG — China’s foreign minister said Monday that his country remains committed to the “one country, two systems” governing framework in Hong Kong, despite growing concerns that Beijing is eroding the former British colony’s civil liberties. SENT: 420 words.
IRAN-SANCTIONS — Iran’s currency plummeted to a record low Monday, a week before the United States restores sanctions lifted under the unraveling nuclear deal, giving rise to fears of prolonged economic suffering and further civil unrest. By Amir Vahdat and David Rising. SENT: 1,000 words, photos.
CROATIA-BRIDGE — Construction formally started Monday in Croatia on an important bridge that the European Union is financing but has been strongly opposed by neighboring Bosnia. By Eldar Emric. SENT: 340 words.
MONEY & MARKETS SUMMARY:
Tyson latest victim of Trump tariffs
Tyson Foods slumped to a 12-month low after the Springdale, Arkansas-based pork and poultry processor slashed its earnings outlook because of retaliatory tariffs sparked by President Donald Trump’s trade war with China.
Pump up the volume
Exxon’s oil production has fallen for three straight quarters, but executives are touting big projects underway in Brazil, Guyana and elsewhere as the Texas-based company sharply boosts capital spending to turn that around.
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