BC-APFN-Business News Preview
Among the stories Tuesday from The Associated Press:
NEW NATURAL GAS PIPELINE
NEW YORK — Dominion Resources, Duke Energy and other partners have proposed building a $5 billion natural gas pipeline to connect the Southeast with the prodigious supplies of natural gas being produced in Pennsylvania, Ohio and West Virginia. The 550-mile project will begin in Harrison County, West Virginia and stretch to Robeson County, North Carolina, in the southern part of the state. By Jonathan Fahey. SENT: 480 words.
BEIJING — Foreign companies in China feel increasingly targeted for unfair enforcement of anti-monopoly and other laws and might cut investment if conditions fail to improve, a U.S. business group says. The American Chamber of Commerce in China's report adds to mounting complaints about a flurry of investigations of global automakers, technology suppliers and other companies. By Joe McDonald. SENT: 880 words, photos.
MARKETS & ECONOMY:
WASHINGTON — U.S. home prices rise in July but at a slower rate compared with earlier this year. The moderating price increases could help support sales. Real estate data provider CoreLogic says prices rose 7.4 percent in July from July 2013. That was slightly below June's year-over-year increase of 7.5 percent and far below a recent peak of 11.9 percent in February. By Christopher S. Rugaber. SENT: 380 words.
WASHINGTON — U.S. manufacturing grows in August at the strongest pace in more than three years as factories cranked out more goods and new orders rose. By Christopher S. Rugaber. SENT: 130 words. UPCOMING: 400 words by 11 a.m.
WASHINGTON — U.S. construction spending stages a strong rebound in July, rising by the largest amount in more than two years. All major categories of construction showed gains in an encouraging sign that spending on building projects will help boost the economy in the second half of this year. By Martin Crutsinger. SENT: 460 words, photo.
LONDON — The euro falls to a one-year low against the dollar as it continues to lose support amid speculation the European Central Bank could start pumping more money into the ailing eurozone economy to spur growth. The bank, which oversees monetary policy for the 18 countries that use the euro, is under pressure to do more at its meeting on Thursday to boost the ailing eurozone economy and get inflation back up toward its target. By Pan Pylas. SENT: 600 words, photo.
NEW YORK — U.S. stocks are wavering in early trading as investors look ahead to major economic reports out this week. SENT: 430 words. UPCOMING: 700 words by 5 p.m.
ATLANTIC CITY, N.J. — Revel Casino Hotel opened with a bang a little more than two years ago amid high hopes of turning around Atlantic City's struggling casino market. But the $2.4 billion resort went out with a whimper in the wee hours this morning, as its casino closed one day after the hotel checked out its last guest. By Wayne Parry. SENT: 700 words, photos, audio.
— DOLLAR GENERAL-FAMILY DOLLAR — Dollar General upped its bid for the rival Family Dollar chain and addressed an earlier roadblock, saying that it will more than double the number of stores it would shed to tamp down the antitrust concerns of its takeover target. The newest bid is worth $9.1 billion, or $80 per share, up from $78.50 per share in the previous offer. SENT: 400 words, photo.
— HALLIBURTON-SPILL SETTLEMENT — Halliburton says it has agreed to pay $1.1 billion to settle a substantial portion of plaintiff claims arising from the 2010 Gulf of Mexico oil spill. SENT: 120 words. UPCOMING: Will be updated.
— 1-800-FLOWERS-HARRY & DAVID — 1-800-FLOWERS.COM Inc. is buying Harry & David for $142.5 million to help broaden the assortment of foods that its customers can choose as gifts. SENT: 190 words.
— SELECT INCOME REIT-ACQUISITION — Select Income REIT will spend about $2.7 billion in cash and stock to buy Cole Corporate Income Trust in a deal that adds 64 office and industrial properties to the real estate investment trust's portfolio. SENT: 250 words.
— NORWEGIAN CRUISE LINE-PRESTIGE-ACQUISITION — Norwegian Cruise Line is getting into the luxury cruise business by acquiring Prestige Cruises International in a deal worth about $3 billion. SENT: 220 words, photo.
— BANK-REDLINING LAWSUIT — New York's attorney general is accusing mortgage lender Evans Bank of refusing to offer financing to African-Americans living in Buffalo. SENT: 150 words. UPCOMING: Will be updated.
— MOELIS-CANTOR — Former House Majority Leader Eric Cantor has a new job as vice chairman and managing director of New York-based global independent investment bank, Moelis & Company. SENT: 130 words.
— DETROIT-BANKRUPTCY — Lawyers for Detroit will attempt to convince a federal judge at the city's bankruptcy trial that its plans to wipe out billions of dollars in debt should be approved. SENT: 340 words, photo, audio, video. UPCOMING: Will be updated from trial, scheduled to begin at 8:30 a.m.
TECHNOLOGY & MEDIA:
SAN FRANCISCO — Netflix is giving its Internet video subscribers a more discreet way to recommend movies and TV shows to their Facebook friends after realizing most people don't want to share their viewing habits with large audiences. By Michael Liedtke. SENT: 530 words.
— WASHINGTON POST PUBLISHER — Katharine Weymouth is stepping down as publisher of The Washington Post and will be replaced by Frederick Ryan, who previously led Politico. SENT: 140 words.
— GERMANY-UBER — A court bars ridesharing service Uber from operating in Germany, the latest shot in the popular app's fight with taxi drivers worldwide. SENT: 260 words.
— COMPUWARE-TAKEOVER — Private equity firm Thoma Bravo is spending about $2.5 billion to buy Compuware and take the software developer private. The companies say Compuware stock owners will receive about $10.92 for each share they own. SENT: 140 words.
TOKYO — Indian Prime Minister Narendra Modi is wooing Japanese businesses with a promise of "red carpet" treatment rather than the bureaucratic red tape that India is notorious for. India is the best possible investment destination, offering "democracy, demography and demand" in its market of nearly 1.3 billion people, Modi told Japanese business leaders. By Elaine Kurtenbach. SENT: 500 words, photos.
BRUSSELS — The International Monetary Fund says Ukraine will need billions of dollars in additional support if the fighting between the military and Russian-backed separatists in the country's east persists. In its first in-depth assessment since granting the country a $17 billion bailout program in March, the IMF says "risks loom large" for the country's economy. By Juergen Baetz. SENT: 130 words. UPCOMING: 400 words by noon.
— BRITAIN-AIRPORT — Britain's Airport Commission rejects a plan to build a four-runway airport in the Thames Estuary, describing it as more problematic and more expensive than other options. SENT: 150 words.
— CHINA-SHALE GAS — More than 60 percent of China's vast shale gas deposits are in regions with scarce water resources, complicating plans by the energy-hungry country to tap the natural gas, according to a U.S.-based research group. SENT: 190 words.
— SCOTLAND-POUND — The British pound slips sharply after an opinion poll showed that those advocating Scottish independence from the United Kingdom have gained ground, a little more than two weeks before the vote. SENT: 390 words.