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BC-Business News Digest

September 27, 2018

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.

TOP STORIES:

FORD-TARIFFS — From Ford to Walmart to Procter & Gamble, a growing number of iconic American companies are warning that President Donald Trump’s tariffs on U.S. imports are raising their costs and prices. By Tom Krisher and Josh Boak. SENT: 700 words, photo.

OF MUTUAL INTEREST-3Q REVIEW — For investments this summer, it was all America First. Funds that focus on U.S. stocks charged to record heights, bolstered by Apple and other companies reporting profit gains that were even more eye-popping than analysts expected. Other areas of the market, though, didn’t fare as well. By Stan Choe. SENT: 790 words, photos.

MARKETS & ECONOMY:

ECONOMY-GDP — The U.S. economy grew at a robust annual rate of 4.2 percent in the second quarter, the best performance in nearly four years, but economists believe growth has slowed in the current quarter, in part because of a drag from trade. By Martin Crutsinger. SENT: 540 words, photo.

FINANCIAL MARKETS — U.S. stocks are climbing as Apple and Amazon both jump. Health care companies are also higher and oil prices are bouncing back after they slipped a day earlier. By Marley Jay. SENT: 710 words, photos. UPCOMING: Will be updated through 5 p.m.

FEDERAL RESERVE-POWELL — Federal Reserve Chairman Jerome Powell makes brief remarks on the economy as part of Senator Jack Reed’s Rhode Island Business Leaders Day. By Martin Crutsinger. UPCOMING: 130 words at 4:30 p.m. 250 words by 5:15 p.m.

DURABLE GOODS — Orders for long-lasting U.S. factory goods rose at a healthy pace last month, though the increase was mostly driven by a surge in aircraft demand. By Christopher Rugaber. SENT: 310 words, photo.

PENDING HOME SALES — Pending home sales slipped in August as fewer Americans signed contracts to purchase a house, the fourth decline in the past five months. By Josh Boak. SENT: 200 words, photos.

MORTGAGE RATES — Long-term U.S. mortgage rates are up for the fifth straight week, with the key 30-year rate reaching its highest level in more than seven years. By Marcy Gordon. SENT: 290 words, photos.

WTO-TRADE FORECAST — The World Trade Organization has lowered its global trade growth forecast for this year by one-half percentage point to a still-robust 3.9 percent, saying increased trade tensions between large economies and heightened uncertainty contributed to the downgrade. SENT: 220 words, photo.

INDUSTRY:

RITE AID-BOARD SHAKE-UP — After two failed buyout attempts that could have put it in a better position to compete against larger rivals, Rite Aid is shuffling its board of directors and dividing power at the top of the drugstore chain. By Tom Murphy. SENT: 400 words, photos.

NETHERLANDS-IKEA-UNIONS — A group of unions is calling on the Dutch government to investigate Swedish home furnishings giant Ikea over allegations three of its stores in the United States, Ireland and Portugal have infringed workers’ rights. SENT: 150 words.

SUPER BOWL TICKETS-LAWSUIT — Lawyers for the National Football League have argued before New Jersey’s Supreme Court against claims that their ticketing policies for the 2014 Super Bowl at MetLife Stadium violated state consumer fraud laws. SENT: 130 words.

IRELAND-PLANE CHASER — A man who missed his flight at Dublin Airport was arrested Thursday for running after the plane on the tarmac in a bid to flag it down. SENT: 190 words, photo.

UNDERGROUND FIRE-LANDFILL — — Some of the illegally dumped nuclear waste buried near a long-smoldering underground fire at a Missouri landfill will be dug up and the rest will be capped under a federal plan. By Jim Salter. SENT: 680 words, photos.

GERMANY-THYSSENKRUPP — German steel company and industrial equipment maker Thyssenkrupp says it plans to split into two firms in a setup that it says will be “much more focused and efficient.” SENT: 140 words.

DEFINING-MILK — Is the term “soy milk” confusing? Federal regulators want to know whether people understand the differences between milk and non-dairy alternatives that call themselves “milk.” The Food and Drug Administration is asking for public comment on the matter, after Commissioner Scott Gottlieb signaled the agency might start enforcing the standard for “milk.” Federal standards define milk as coming from cows. SENT: 130 words, photos.

AETNA-BUSINESS SALE — Aetna is selling its Medicare prescription drug business, potentially clearing the way for CVS Health to complete its $69 billion takeover of the insurer. SENT: 130 words.

CRAB MEAT-FALSE LABELS — The owner of a Virginia seafood company has pleaded guilty to conspiring to falsely label foreign crabmeat as fresh Chesapeake blue crab. SENT: 140 words.

HEALTH OVERHAUL — U.S. health secretary Alex Azar says premiums for a popular type of health plan under the Affordable Care Act will edge downward next year. By Ricardo Alonso-Zaldivar. SENT: 140 words.

TECHNOLOGY & MEDIA:

EUROPE-FACEBOOK — European Union lawmakers appear set this month to demand audits of Facebook by Europe’s cybersecurity agency and data protection authority in the wake of the Cambridge Analytica scandal. By Lorne Cook. SENT: 310 words, photos.

CHINA-LENOVO — Interview with chief technology officer of Lenovo Group, Yong Rui, about the computer maker’s artificial intelligence plans. UPCOMING, timing uncertain.

AUSTRALIA-PUBLIC BROADCASTER — The chairman of the Australian Broadcasting Corp. resigns over allegations that he pressured the independent national broadcaster to fire two political journalists because the ruling conservative government disliked them. By Rod McGuirk. SENT: 640 words, photos.

KAVANAUGH-YOUTH CONDUCT — The firestorm surrounding President Donald Trump’s pick for the Supreme Court over the nominee’s behavior in the 1980s has reinforced a warning today’s social media-savvy high school students have grown up hearing: What they say and do now will live well past graduation. By Carolyn Thompson. SENT: 730 words, photo.

THE OKLAHOMAN-SOLD — The Oklahoman is being sold to GateHouse Media. Publisher Chris Reen announced the sale to staff Thursday. Terms have not been disclosed. The sale is expected to close Monday. SENT: 140 words.

EARNINGS:

EARNS-CONAGRA — Shares in Conagra Brands are down 6 percent in early trading after reporting first-quarter earnings that fell short of expectations. SENT: 130 words.

BED BATH & BEYOND-STOCK — — Bed Bath & Beyond’s stock plunged to its lowest price in 18 years after the home goods store chain posted weak results in the second quarter and cut its forecasts for the rest of the year. SENT: 140 words.

INTERNATIONAL:

CHINA-US-INTERFERENCE — Beijing has urged the United States to stop slandering China after President Donald Trump accused the Asian giant of trying to interfere in the upcoming American congressional elections by opposing his tough trade policies. SENT: 370 words.

GERMANY-ECONOMY — Leading German economic institutes have sharply reduced their latest forecast for this year’s growth, citing trade worries, weakening demand from abroad and companies’ difficulty finding workers with the right skills. SENT: 140 words, photo.

ITALY-BUDGET — Tensions surrounding the spending plans of Italy’s new populist government are weighing on the country’s stocks and bonds. SENT: 140 words, photo.

SPAIN-DRIVER PROTEST — Hundreds of drivers are blocking a central artery in the Spanish capital to protest the government’s plan to approve new rules limiting the operations of app-based ride-hailing services. SENT: 130 words, photos.

GREECE-ECONOMY — Greek authorities say they will soon lift restrictions on domestic cash withdrawals imposed more than three years ago to prevent a bank run by depositors at the height of the country’s debt crisis. SENT: 450 words, photos.

JAPAN-WHALING — A senior Japanese whaling negotiator says Tokyo will continue to seek a resumption of commercial whaling despite the recent defeat of its proposal by the International Whaling Commission. SENT: By Mari Yamaguchi. 400 words, photos.

FRANCE-WORKPLACE DISCRIMINATION — The French government’s human rights watchdog says one out of four employees has experienced discrimination at work because of their race, sexual orientation, religion, skin color, gender, poor health or disability. SENT: 130 words.

DENMARK-RUSSIA-BANKING — Lawyers for the man who blew the whistle on a massive money laundering scheme through the Estonian branch of Denmark’s Danske Bank are calling for measures to protect him. SENT: 140 words.

BRAZIL-PETROBRAS — Brazil’s state oil company Petrobras says it has agreed to pay more than $850 million in penalties for covering up bribes to Brazilian politicians and political parties. SENT: 140 words.

MONEY & MARKETS SUMMARY:

SPOTLIGHT

Investors bin maker of Slim Jim

Conagra shares plunged to an 11-month low Thursday after the packaged food maker reported disappointing first-quarter results.

CENTERPIECE

Stuffing the bank

Given how much money they sit on, financial-services companies have always presented ripe targets for hackers. Now attackers are getting bolder thanks to “stuffing” and other new techniques that exploit peoples’ carelessness with passwords.

Business News Supervisor Richard Jacobsen (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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