BC-Business News Preview
Among the stories Tuesday from The Associated Press:
VERSACE-SALE — Michael Kors is buying the Italian fashion house Gianni Versace in a deal worth more than $2 billion (1.83 billion euros), continuing its hard charge into the world of high-end fashion. By Anne D’Innocenzio and Michelle Chapman. SENT: 770 words, photos.
INSTAGRAM FOUNDERS RESIGN — The co-founders of Instagram are resigning their positions with the social media company without explanation. SENT: 520 words, photos. UPCOMING: Will be expanded.
JAPAN-WIRED CHILDREN — The Associated Press visited Coby Preschool, in a town northeast of Tokyo, where toddlers use tablets to color birds and flowers that appear to come alive as 3-D computer graphics. Experts say the applications are meant to encourage creativity and collaboration, although they warn of the risks of relying too heavily on technology. By Yuri Kageyama. SENT: 1,240 words, photos.
CHANGING YOGURT — If low-fat yogurt is blended with fatty ingredients like coconut or chocolate, is it still low-fat? Is it even yogurt? The dairy industry has reason to believe the Trump administration’s deregulation efforts will extend to yogurt so it can finally use the term with greater liberty. By Candice Choi. SENT: 930 words, photos.
— CHANGING YOGURT-REBEL FOODS —Bred-Spred, Chil-Zert and Cashewgurt are some of the products that defy the rules foods with certain names. SENT: 490 words.
MARKETS & ECONOMY:
FED-3 THINGS TO WATCH FOR — The Federal Reserve is all but sure to announce Wednesday that it’s raising its key short-term interest rate for the third time this year and will likely signal another likely hike in December. But what about next year, when the impact of the U.S. trade war will be increasingly felt? Here are three things to watch for after the Fed meeting ends. By Martin Crutsinger. UPCOMING: 800 words by 2 p.m.
FINANCIAL MARKETS — Stocks are opening slightly higher as energy companies rise with oil prices. SENT: 490 words, photos. UPCOMING: 700 words by 5 p.m.
HOME PRICES — U.S. home prices rose in July at the slowest pace in 10 months as home sales have stumbled amid higher mortgage rates. By Christopher Rugaber. SENT: 140 words, photo. UPCOMING: Will be updated.
CONSUMER CONFIDENCE — The Conference Board releases its September index on U.S. consumer confidence. By Paul Wiseman. UPCOMING: 130 words after release of report at 10 a.m. 300 words by 10:45 a.m.
EARNS-NIKE — Nike caused an uproar online earlier this month with its ad featuring former NFL quarterback Colin Kaepernick that debuted ahead of the NFL season start. But its stock is up and sales have jumped. On Tuesday, it will report its quarterly earnings. UPCOMING, 130 words after release around 4 p.m., then expanded.
SWITZERLAND-NOVARTIS-JOB CUTS — Novartis says it’s cutting some 2,100 jobs in Switzerland and Britain over several years as the Swiss pharmaceuticals giant tweaks its corporate structure to become more nimble and more efficient. SENT: 200 words.
NEAR COLLISION-SAN FRANCISCO AIRPORT — Video captured the moment that an Air Canada jet flew off course and just over four other jetliners filled with passengers late on a July night last year in San Francisco. On Tuesday, the National Transportation Safety Board will meet to determine the probable cause of the close call. SENT: 350 words, photos. UPCOMING: Will be updated from hearing, scheduled to begin at 1:30 p.m.
TRUMP-MILEAGE STANDARDS — The Trump administration’s proposal to roll back national fuel economy standards was headed for its second public hearing a day after California officials and scores of speakers blasted it as a danger to the environment and public health. By Sudhin Thanwala. SENT: 800 words, photos.
HERRING FISHING — The little herring is one of the most important fish on the East Coast, and federal fishing managers will consider a host of potentially major changes to the industry that harvests the species. By Patrick Whittle. SENT: 400 words. UPCOMING: Will be updated mid-afternoon after the meeting, which starts at 9 a.m.
NAVAJO COAL PLANT — Hopi tribal officials are calling on the federal government to explore other options for the Navajo Generating Station near Page. SENT: 130 words.
TECHNOLOGY & MEDIA:
EUROPE-ONLINE REGULATION — Music streaming sites Spotify and Deezer are among European tech companies and trade associations calling on EU officials to toughen proposed legislation aimed at combating unfair business practices by U.S. giants like Apple, Google and Amazon. By Kelvin Chan. SENT: 410 words, photo.
NERDWALLET-FIRST CREDIT CARD — If your first credit card has a low limit, using it to cover everyday expenses might be out of the question. But the card can still help you build a good credit history. By Claire Tsosie of NerdWallet. SENT: 770 words, photo.
BREXIT — Britain’s main opposition Labour Party says it will reject Prime Minister Theresa May’s proposed Brexit deal with the European Union when it comes to a vote in Parliament, saying the government was offering the country a choice between “really bad and even worse.” By Jill Lawless. SENT: 640 words, photos.
US-CHINA TARIFFS — China cannot hold talks with Washington on ending their escalating trade dispute while the United States “holds a knife” to Beijing’s neck by imposing tariff hikes, a Chinese official says. By Joe McDonald. SENT: 470 words, photos.
PALESTINIANS-GAZA ECONOMY — The Gaza Strip’s economy is in “free fall,” a report from the World Bank warned Tuesday, calling for urgent action by Israel and the international community to avoid “immediate collapse.” SENT: 500 words, photo.
GERMANY-WORLD TRADE — The head of the World Trade Organization says the whole international community has a responsibility to reduce tensions and avert a full trade war, which would produce “no winners.” SENT: 130 words, photo.