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TAKATA RECALL-THINGS TO KNOW
How to find out if your car's air bag is being recalled, how the government plans to speed up repairs, and other things to know about the expanded recall of air bags made by Takata Corp. By Tom Krisher. UPCOMING: 700 words by 3:00 p.m., photos. Incorporates TAKATA-AIR BAG RECALL.
NEW YORK — CVS Health will spend more than $10 billion to buy pharmacy services provider Omnicare and tap a growing target for prescription drug distribution: care for the elderly. By Tom Murphy. SENT: 540 words, photo.
WASHINGTON — High rents are worth it. At least that's the sentiment of apartment dwellers in New York, San Francisco and Washington, who say they're more satisfied living there than do renters in far more affordable cities like Milwaukee, Albuquerque and Detroit. By Josh Boak. SENT: 650 words.
NEW YORK — McDonald's CEO Steve Easterbrook says he's "incredibly proud" of a recent decision to bump pay for some workers, even as hundreds of protesters outside called on the company to do more ahead of its annual shareholder meeting. By Candice Choi. SENT: 400 words, photos. UPCOMING: Will be updated.
AL-KITTEH, Jordan — In the Middle East/North Africa region, youth unemployment is 30 percent, the world's highest. This week, top political and business leaders are coming together at a regional World Economic Forum conference to search for solutions to widespread joblessness, which has created fertile ground for the recruitment of desperate youths by militants. By Karin Laub. SENT: 1,070 words, photos.
MARKETS & ECONOMY:
WASHINGTON — Sales of existing U.S. homes slip in April due mainly to relatively few listings and rising prices, providing evidence of the housing sector's uneven recovery. By Josh Boak. SENT: 580 words, photo.
WASHINGTON — More Americans seek unemployment aid last week, though the number of applications remains at a historically low level that is consistent with a healthy job market. By Christopher S. Rugaber. SENT: 440 words, photo.
WASHINGTON — Manufacturing growth in the Philadelphia region slows a bit in May, a sign the U.S. economy is barely improving after an anemic start to the year. By Christopher S. Rugaber. SENT: 270 words, photo.
WASHINGTON — An index designed to predict the future health of the economy posts a strong gain in April, a positive sign that the economy is beginning to accelerate from a sharp slowdown during the winter. By Martin Crutsinger. SENT: 300 words, photo.
WASHINGTON — Average long-term U.S. mortgage rates edged slightly lower this week after rising for three straight weeks. By Marcy Gordon. SENT: 440 words, photo, glance.
NEW YORK — U.S. stocks rise as the price of oil climbs, boosting energy stocks. By Steve Rothwell. SENT: 600 words, photo. UPCOMING: 700 words by 5 p.m.
— OECD-INCOME GAP — The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study. SENT: 310 words, photo.
WHITE FLIGHT REVERSAL-DETROIT
DETROIT — Whites are moving back to the American city that came to epitomize white flight, even as blacks continue to leave for the suburbs and the city's overall population shrinks. By Corey Williams. SENT: 860 words, photos, video.
— EARNS-GAP — The Gap Inc. reports quarterly financial results after the market closes. UPCOMING: 130 words after release, then expanded.
— DOLLAR TREE-FAMILY DOLLAR — Dollar Tree expects to reach a deal in the coming days to sell about 330 Family Dollar stores in order to receive approval of its $8.5 billion acquisition of Family Dollar. SENT: 300 words.
— SMALLBIZ-MINORITY LENDING — Minority businesses have a harder time getting bank loans than small companies in general, according to a survey by Wells Fargo and Gallup. By Joyce Rosenberg. SENT: 450 words.
— LUMBER LIQUIDATORS — Lumber Liquidators CEO Robert Lynch abruptly quits the company that is embroiled in an investigation over products imported from China. By Michelle Chapman. SENT: 300 words, photo.
— GM-CORVETTE PLANT — General Motors will spend $439 million to upgrade the Kentucky plant that makes the Chevrolet Corvette sports car. SENT: 300 words.
— LISTERIA-ICE CREAM — A government investigation of Ohio-based Jeni's Splendid Ice Creams says there was inadequate testing and cleaning in its Columbus plant before listeria was found in some of its ice cream pints. The ice cream company recalled all of its products last month. By Mary Clare Jalonick. SENT: 600 words, photo.
— BRITAIN-EU-AIRBUS — The head of the U.K. arm of Airbus warns the aerospace company would reconsider its investments in Britain should the country vote to leave the European Union. SENT: 140 words.
— CHINA-MANUFACTURING — Manufacturing in China shrank for the third straight month in May, raising the chances of more stimulus to prop up growth in the world's No. 2 economy. By Kelvin Chan. SENT: 270 words, photos.
— PORTUGAL-AIRLINE PRIVATIZATION — The Portuguese government says it will hold talks with two Latin American airline operators to decide which of the two will be sold a 61 percent stake in state-owned flag carrier TAP Air Portugal. SENT: 140 words.
TECHNOLOGY & MEDIA:
— HP-CHINA SALE — Hewlett-Packard is selling a 51 percent stake in its China server, storage and technology storage unit for about $2.3 billion to form a partnership with Tsinghua Holdings as it restructures its business in that country. By Mae Anderson. SENT: 300 words.
— SHOPIFY-IPO MOVER — Shares of Shopify climb sharply after its initial public offering raised about $131 million, more than the company expected. SENT: 190 words.
— AMAZON-STORE DELIVERY — Amazon will begin offering one-hour delivery from local stores in New York City as competition in the delivery arena increases. SENT: 150 words.
— BRITAIN-PHONE HACKING — Britain's High Court awards actress Sadie Frost, sports star Paul Gascoigne and a group of other claimants some 1.2 million pounds ($1.8 million) in damages after their phones were hacked by journalists seeking scoops for the Mirror Group Newspapers. SENT: 150 words.
— JAPAN-GODZILLA — Japanese movie studio Toho Co. is suing Voltage Pictures and a director in a lawsuit complaining that promotions of an upcoming film infringe on its copyright to Godzilla. By Yuri Kageyama. SENT: 350 words.
DUBAI, United Arab Emirates — Qatar is failing to deliver on reforms for its migrant workers a year after the wealthy Gulf nation announced plans to improve conditions for low-paid laborers building its highways, hotels, stadiums and skyscrapers, Amnesty International says. By Adam Schreck. SENT: 850 words, photos.
MOSCOW — Back-to-back rocket launch failures have dealt Russia one of the heaviest blows to its space industry since the Soviet collapse — with national pride and billions of dollars at stake. The setbacks threaten to erode Russia's leading position in the multibillion global launch market, in which it commands an estimated 40 percent share, and dent President Vladimir Putin's efforts to boost the country's global prestige. By Vladimir Isachenkov. SENT: 1,130 words, photos.
WELLINGTON, New Zealand — New Zealand's government blamed low inflation for its failure to deliver a promised budget surplus this year but said it remains on target to get its books into the black next year. By Nick Perry. SENT: 600 words, photos.
— NEW ZEALAND-MIGRATION — Australia's warmer climate and higher wages have long lured droves of New Zealanders across the Tasman Sea with the aim of making a better life in the "lucky country." But with Australia's economy stumbling and New Zealand's improving, the trend has begun to reverse. By Nick Perry. SENT: 370 words.
— EUROPE-ECONOMY — The sharp fall in the euro over the past year appears to be paying dividends by helping the eurozone deal with one of its major economic problems — unemployment. By Pan Pylas. SENT: 450 words, photo.
— EUROPEAN CENTRAL BANK — Accounts of the European Central Bank's last meeting show it is committed to completing its 1.1 trillion-euro ($1.2 trillion) stimulus program. SENT: 140 words.
— IRELAND-UNEMPLOYMENT — Ireland's unemployment rate fallS to 9.8 percent, the first time in six years that joblessness levels can be measured in single digits. SENT: 140 words.
— RUSSIA-IMF — The International Monetary Fund predicts a less severe recession for Russia and says the country's economy will return to growth in a "mild recovery" next year. SENT: 130 words.
OF MUTUAL INTEREST-TAX EFFICIENT FUNDS
Most investors hold mutual funds in 401(k) or other accounts where they don't have to care about taxes, at least for now. Even so, funds that operate in a way that minimizes tax bills tend to have better returns, even before taxes are taken into account. By Stan Choe. UPCOMING: 800 words by 5 p.m.
A sampling of Money & Markets modules is below. The full digest for AP's Money & Markets service can be found at markets.ap.org. For questions about Money & Markets content, please contact Trevor Delaney (800-845-8450, ext. 1807). For technical support: Todd Balog (816-654-1096). After 6 p.m., contact the AP Business News desk (800-845-8450, ext. 1680) for content questions; 1-800-3AP-STOX for technical support and 212-621-1905 for graphics help.
The dollar has lost about 6 percent of its value against the euro since March 13, when it hit a 12-year high. But much of Wall Street expects this lull for the dollar to be only temporary. UPCOMING: Graphic expected by 6 p.m.
Dollar Tree to sell stores
Discount retailer Dollar Tree expects to reach a deal in the coming days to sell about 330 Family Dollar stores in order to receive approval of its $8.5 billion acquisition of Family Dollar. UPCOMING: Graphic expected by 6 p.m.