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BC-APFN-Business News Digest

November 23, 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:

HOLIDAY-BLACK FRIDAY — It would have been easier to turn on their computers over plates of leftover turkey and take advantage of the Black Friday deals most retailers now offer online. But across the country, thousands of shoppers woke up before dawn the day after Thanksgiving to take part in this most famous ritual of American consumerism. By Joseph Pisani and Anne D’Innocenzio. SENT: 1,050 words, photos, video. UPCOMING: Will be updated.

With:

HOLIDAY TRENDS — Cozy sweaters and soft pajamas are in for adults. Kids, meanwhile, are asking for board games featuring fake poop and pimples. Those are just some of the trends expected this holiday season, when shoppers are projected to spend as much as $720 billion, according to the National Retail Federation. By Joseph Pisani and Anne D’Innocenzio. SENT: 680 words, photos.

Also:

— HOLIDAY SHOPPING-SUPREME COURT — Shoppers heading online to purchase holiday gifts will find they’re being charged sales tax at websites where they weren’t before. By Jessica Gresko. SENT: 790 words, photo.

— EUROPE-AMAZON STRIKE — Some of Amazon’s workers in Europe are protesting against what they call unfair work conditions, in a move meant to disrupt operations on Black Friday. SENT: 280 words, photos.

FINANCIAL MARKETS — U.S. stocks dropped as a plunge in the price of oil hurt energy stocks and Apple led a decline in technology stocks. The benchmark S&P 500 closed down 10 percent from the high it set on Sept. 20, a decline known on Wall Street as a correction. By Alex Veiga. SENT: 700 words, photos. UPCOMING: 800 words by 2 p.m., updated for early close.

With:

FINANCIAL MARKETS-CORRECTION-Q&A — A look at why the benchmark S&P 500 index suffered its second correction of the year. By Alex Veiga. UPCOMING: 1,000 words by 2:30 p.m., photos.

CHINA-SWINE FEVER — Chinese pig farmers, already reeling from rising feed costs in Beijing’s tariff fight with U.S. President Donald Trump, face a new blow from an outbreak of African swine fever that has sent an economic shockwave through the countryside. By Joe McDonald. SENT: 850 words, photos.

And:

CHINA-TARIFFS-WTO REFORM — A Chinese official says Beijing will go along with World Trade Organization reforms meant to update global trade rules but they must protect China’s status as a developing country. By Joe McDonald. SENT: 650 words, photo.

INDUSTRY:

GENERAL MOTORS-BRAKE INVESTIGATION — The U.S. government is investigating more than 100 complaints of poor brake performance on 2.7 million General Motors big pickups and SUVs. SENT: 180 words, photo.

SKOREA-SAMSUNG-SICK WORKERS — Samsung Electronics apologizes for illnesses and deaths of some of its workers, saying it failed to create a safe working environment at its computer chip and display factories. By Kim Tong-Hyung. SENT: 470 words, photos.

CHINA-DOLCE&GABBANA — The co-founders of Dolce&Gabbana apologize in a video on Chinese social media after promotional videos seen as racist and subsequent Instagram messages stoked a furor in one of the world’s largest markets for luxury goods. SENT: 490 words, photo.

BURGER RESTAURANT-RAT VIDEO — A Hawaii-based burger chain has closed a Honolulu restaurant for cleaning after a video posted to social media appeared to show a rat being cooked on the grill. SENT: 210 words.

EUROPE-AIRLINE TICKET SYSTEMS — European Union regulators launch an investigation into flight ticket distribution services on concerns that their agreements with airlines might result in more expensive plane tickets. SENT: 150 words.

TECHNOLOGY & MEDIA:

BRITAIN-CHINA-STATE TV — A British corporate investigator has complained to U.K. regulators about Chinese state TV, saying its British license should be revoked because it broadcast his forced confession when he was imprisoned in China. SENT: 450 words, photos.

INTERNATIONAL:

BREXIT — Spain pushes for a cast-iron guarantee of its say over the future of Gibraltar as a condition for backing a divorce agreement between Britain and European Union, as U.K. Prime Minister Theresa May battled to win approval for the deal from skeptical politicians and a Brexit-weary populace. By Jill Lawless and Barry Hatton. SENT: 780 words, photos.

WORLD’S FAIR 2025 — The Japanese city of Osaka will host the World Expo in 2025, after beating out cities in Russia and Azerbaijan in the race to host an event expected to draw millions of visitors and showcase the local economy and culture. By Angela Charlton and Alex Turnbull. SENT: 600 words, photos.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

In 2018, there have been roughly 30 retailers that have filed for bankruptcy, the highest level since 2011. In response, retailers are rushing to scoop up any market share left behind.

CENTERPIECE

Europe’s cloudy outlook

Risks have risen for the European economy. A disorderly Brexit that hurts trade, free-spending populists in Italy who could blow up their debt market, and a U.S.-China trade war: any one of them could deal the region a major setback.

Business News Supervisor Alexandra Olson (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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