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BC-Business News Digest

May 2, 2019

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:

TRUMP-FEDERAL RESERVE _ The skeptical response to President Donald Trump’s choice of Stephen Moore for the Federal Reserve has thrown a spotlight on the tough task Trump has set for himself: Finding a rare conservative ally who both favors cutting interest rates and is respected enough to win Senate confirmation. By Christopher Rugaber. SENT: 1,300 words, photos.

BEYOND MEAT-IPO _ Beyond Meat, the El Segundo, California-based maker of plant-based burgers and sausages makes its debut on the Nasdaq stock exchange. It’s the first pure-play maker of vegan “meat” to go public, according to Renaissance Capital, which researches and tracks IPOs. By Dee-Ann Durbin. SENT: 730 words. UPCOMING: Will be updated through trading.

ON THE MONEY-MAX FLIGHTS _ The grounding of Boeing 737 Max jets likely means that fare increases this summer will be larger than already expected and airlines will struggle to handle disruptions such as storms that shut down hub airports. By David Koenig. UPCOMING: 780 words, photo.

CAR-SHARING-REGULATION BATTLES _ Car-sharing apps that let people rent out their vehicles to strangers are growing in popularity in the U.S. But the people who rent cars through apps like Turo and GetAround don’t pay taxes, making them a target for rental car companies, airport authorities and others who say the upstart apps should face the same taxes and fees that come with rental cars. By Jonathan J. Cooper. SENT: 1,200 words, photos.

MARKETS & ECONOMY:

FINANCIAL MARKETS _ Stocks are off to a mixed start on Wall Street as losses in industrial and energy companies are offset slightly by gains in banks and technology companies. SENT: 490 words, photos. UPCOMING: Will be updated through 5 p.m.

OFF THE CHARTS-MILLENNIAL HOMEBUYERS _ The competition to buy that first home will be even tougher over the next decade as the biggest crop yet of millennials enter prime home-buying age. By Alex Veiga. UPCOMING: 450 words by 1 p.m.

MORTGAGE RATES _ U.S. long-term mortgage rates fell this week after four weeks of increases, giving a boost to prospective home buyers during the spring sales season. SENT: 130 words, photo. UPCOMING: Will be updated.

PRODUCTIVITY _ U.S. productivity grew at a solid 3.6% rate in the first three months of this year, the strongest quarterly gain in more than four years and a hopeful sign that a long stretch of weak productivity gains may be coming to an end. By Martin Crutsinger. SENT: 430 words, photo.

EARNINGS:

GERMANY-EARNS-VOLKSWAGEN _ German automaker Volkswagen saw its profit slip in the first quarter as the company set aside 1 billion euros ($1.1 billion) for legal risks related to its 2015 diesel scandal. By David McHugh and Pietro DeCristofaro. SENT: 560 words, photos.

EARNS-CIGNA _ Cigna’s first quarter earnings topped analyst expectations, as a major acquisition helped push the health insurer’s net income past $1 billion. SENT: 300 words.

INDUSTRY:

TESLA-RAISING CAPITAL _ A week after revealing a huge first quarter loss and the need to raise cash, Tesla is doing just that with CEO Elon Musk buying $10 million in new shares being offered as part of a stock and debt offering that could raise more than $2 billion. SENT: 270 words, photos.

TRUMP-BANK SUBPOENAS _ Congress has agreed to postpone a deadline for two banks to respond to subpoenas seeking President Donald Trump’s financial records. SENT: 130 words.

SKOREA-KOREAN AIR-TRIAL _ The widow and daughter of Korean Air Chairman Cho Yang-ho appeared in a South Korean court over charges they unlawfully hired housekeepers from the Philippines. By Kim Tong-Hyung. SENT: 340 words, photos.

TECHNOLOGY & MEDIA:

BRITAIN-HUAWEI LEAK _ Britain’s former defense secretary ferociously denied allegations that he leaked details from private government discussions about the Chinese telecommunications company Huawei, as opposition leaders called Thursday for a criminal investigation into the scandal. By Jill Lawless. SENT: 400 words, photos.

WIKILEAKS-ASSANGE _ WikiLeaks founder Julian Assange told a London court that he would not agree to be extradited to the United States, where he is accused of conspiring to hack into a Pentagon computer. By Jill Lawless and Gregory Katz. SENT: 530 words, photos.

PERSONAL FINANCE:

NERDWALLET-DECIPHER COLLEGE AID _ Financial aid award letters are known to be tricky to understand due to jargon and a lack of clarity about how much you have to pay out of pocket. If you can’t interpret your financial aid award, you won’t be able to compare letters from different schools. Here’s what you need to know about making sense of college aid offers. By Anna Helhoski of NerdWallet. SENT: 850 words, photo.

INTERNATIONAL:

BRITAIN-ECONOMY _ The British economy is likely to weaken as firms ease up on Brexit preparations now that the departure from the European Union has been delayed by months, the Bank of England said Thursday. By Pan Pylas. SENT: 590 words.

US-CUBA-LAWSUITS _ People who lost properties after the Cuban revolution hope that, starting Thursday, they will be able to file lawsuits against European and American companies doing business on their former properties. By Gisela Salomon and Michael Weissenstein. SENT: 760 words, photo.

SAUDI ARABIA-IRAN-OIL TANKER _ An Iranian oil tanker carrying over 1 million barrels of fuel oil suffered a malfunction in the Red Sea off the coast of Saudi Arabia, raising concerns that the vessel could be leaking. By Jon Gambrell. SENT: 470 words, photo.

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 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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