BC-APFN-Business News Preview
Among the stories Wednesday from The Associated Press:
FEDERAL RESERVE-POWELL — Federal Reserve Chairman Jerome Powell speaks to the Economic Club of New York about the Fed’s framework for monitoring financial stability. By Martin Crutsinger. UPCOMING: 130 words at 12 p.m. after embargo on prepared remarks lifts. 400 words by 12:45 p.m.
FEDERAL RESERVE-POWELL-LOOKAHEAD — Is the Federal Reserve considering a pullback in its interest rate hikes? Chairman Jerome Powell’s recent observations have suggested that while the U.S. economy remains on firm footing it also faces an array of risks, including a slowing global economy. By Martin Crutsinger. SENT: 760-word setup, photo.
IMMIGRATION-IMPERILED SPONSORS — A coalition of civil-liberties and immigrant-rights groups cries foul over quietly introduced federal info-sharing that can effectively turn migrant children into snitches on relatives in the U.S. illegally. The agency that finds foster care for asylum-seeking children has been feeding data on prospective sponsors into a Homeland Security database used to deport relatives. An AP Exclusive By Frank Bajak. SENT: 1,260 words, photos.
IKEA’S TRANSFORMATION — Ikea, the retailer known for big-plan warehouse stores, is going small. It plans to open 30 small stores in major city centers as it adapts to changing consumer habits. Shoppers are increasingly likely to be living in urban areas and not have a car, and often want a nearby location to look at goods in person before ordering them online. By Vanessa Gera. SENT: 700 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS — Stocks are opening higher on Wall Street, led by solid gains in big technology and health care companies.
SENT: 150 words, photo. UPCOMING: Will be updated through 5 p.m.
ECONOMY-GDP — The U.S. economy expanded at a solid 3.5 percent annual rate in the July-September quarter, led by lower but still strong consumer spending and more business investment than previously estimated. By Christopher Rugaber. SENT: 400 words, photos.
NEW HOME SALES — The Commerce Department reports on sales of new homes in October. By Josh Boak. UPCOMING: 130 words after release of report at 10 a.m. 350 words by 10:45 a.m.
WORLD HUNGER — Feeding a hungry planet is growing increasingly difficult as climate change and depletion of land and other resources undermine food systems, the U.N. Food and Agricultural Organization said Wednesday as it renewed appeals for better policies and technologies to reach “zero hunger.” By Elaine Kurtenbach. SENT: 490 words, photos.
SMALLBIZ-SMALL TALK-INFLATION — Small businesses are struggling with inflation as labor and other costs keep rising. Many have a tough decision to make about whether to pass along higher prices to customers. By Joyce M. Rosenberg. UPCOMING: 950 words by noon, photos.
SMALLBIZ-INFLATION-TIPS — How business owners can protect their profits at a time when costs are rising. UPCOMING: 350 words by noon.
INDONESIA-LION AIR CRASH — Faulty equipment and Indonesian carrier Lion Air’s own safety failures had pilots fighting for control of their Boeing 737 MAX 8 as it plunged into the Java Sea on Oct. 28, killing all 189 people aboard, investigators said Wednesday. By Niniek Karmini and David Koenig. SENT: 840 words, photos.
STREET SELLERS — After a decade of debate and compromise, the Los Angeles City Council will consider an ordinance Wednesday that would grant permits to sidewalk vendors. By John Rogers. SENT: 440 words, photos.
WINE WAR — Pinot noir is one of the finickiest grapes, but with proper nurturing it produces an amazing wine. Officials in Oregon and at a U.S. government agency are similarly finicky, and are stomping on a California winery’s claims it makes an Oregon pinot. By Andrew Selsky. SENT: 760 words, photos.
IKEA’S TRANFORMATION — Ikea, the Swedish furniture giant, is making major changes to adapt to a new consumer environment. It has plans to open 30 stories in some of the world’s largest cities, most of them much smaller than its traditional cash-and-carry suburban model. By Vanessa Gera. SENT: 830 words, photos.
EARNS-TIFFANY — Evidence of China’s slowing economy popped up in the sales numbers posted by Tiffany & Co. SENT: 290 words, photos.
TECHNOLOGY & MEDIA:
NEW ZEALAND-HUAWEI BAN — New Zealand’s international spy agency halts mobile company Spark from using Huawei equipment in its planned 5G upgrade, saying it posed a “significant network security risk.” By Nick Perry. SENT: 460 words, photo.
IVANKA TRUMP — Ivanka Trump is defending her use of a private email account as she was moving into an adviser’s position in her dad’s administration, saying “Lock her up!” doesn’t apply to her. President Donald Trump’s daughter told ABC News for an interview aired Wednesday that using her private email account can’t be compared to ex-Secretary of State Hillary Clinton’s use of a private email server. Ivanka Trump says her emails were archived and contained no classified information. SENT: 540 words, photos.
TRUMP-SUMMIT — Russia says it still expects a meeting between President Vladimir Putin and President Donald Trump to go ahead as planned. Trump said earlier in an interview with The Washington Post he may cancel the sit-down with Putin in Argentina following Russia’s seizure of three Ukrainian naval ships last weekend. A Kremlin spokesman said on Wednesday that the meeting is on and that Russia has not received any other information from its U.S. counterparts. By Zeke Miller. SENT: 940 words, photos.
TRUMP-BORDER WALL — With a partial government shutdown possible on Dec. 7, President Donald Trump has met with Republican leaders to hash out a spending plan that includes money for Trump’s proposed border wall with Mexico. SENT: 700 words, photos.
PORSCHE-NEW 911 — Porsche says its future is in electric cars but for now it is rolling out a more powerful version of its internal combustion mainstay, the sleek 911 sports car. By David McHugh. SENT: 300 words, photo.
BEHIND THE WHEEL-GAP INSURANCE — About 85 percent of new car buyers will use some sort of financing to pay for their vehicle, according to credit reporting company Experian. If you’re such a buyer, you can expect that during your purchase a car dealership will try to sell you gap insurance. By Matt Jones of Edmunds. SENT: 800 words, photos.
BREXIT — Britain’s Treasury chief says leaving the European Union on any terms will leave the economy worse off than remaining in the bloc. By Jill Lawless. SENT: 570 words, photos.
BRITAIN-ECONOMY — The Bank of England publishes its economic assessment of Prime Minister Theresa May’s Brexit deal with the European Union as well as an assessment of what would happen to the British economy in the event of no deal. UPCOMING, timing uncertain.
SPAIN-CHINA — Chinese President Xi Jinping issues an impassioned defense of free markets’ ability to combat economic uncertainty as he sought allies amid his nation’s worsening trade dispute with the United States. By Aritz Parra. SENT: 530 words, photos.
FRANCE-GAS PRICE PROTESTS — France’s prime minister is offering to meet with members of a motorists movement who have blocked roads over rising fuel taxes and held protests that caused damage to central Paris. SENT: 130 words, photos.
NETHERLANDS-HOLOCAUST REPARATIONS — The Dutch national railway company says it will set up a commission to investigate how it can pay individual reparations for its role in mass deportations of Jews by Nazi occupiers during World War II. By Mike Corder. SENT: 430 words, photos.
GREECE-STRIKE — Train and island ferry services in Greece were suspended Wednesday and most Athens public transport was idle as the country’s biggest labor union held a strike against persisting austerity measures. SENT: 240 words, photos.
CLIMATE — Three years after sealing a landmark global climate deal in Paris, world leaders are gathering again to agree on the fine print. By Frank Jordans and Monika Scislowska. SENT: 1,040 words, photos.