BC-Business News Digest

Business News at 1:50 p.m.

The supervisor is Skip Wollenberg (800-845-8450, ext. 1680). For photos, ext. 1900. For graphics and interactives, ext. 7636. Expanded AP content can be obtained from http://www.apexchange.com. For access to AP Exchange and other technical issues, contact customersupport@ap.org or call 877-836-9477.

If you have questions about transmission of financial market listings, please call 800-3AP-STOX.

A selection of top photos can be found at: http://bit.ly/APTopPhotos .

All times EDT.

TOP STORIES:

FINANCIAL MARKETS

NEW YORK — Wall Street's roller coaster ride is continuing for a third day, with the Dow Jones industrial average plunging more than 300 points in midday trading. Gap's stock dropped after the company announced its CEO was retiring, and energy stocks fell sharply as the price of oil fell again. By Ken Sweet. SENT: 710 words, photo. UPCOMING: 700 words by 5 p.m.

GLOBAL FINANCE

WASHINGTON — Though braced by a resurgent United States, the global economy is under threat from other regions — from Europe and Latin America to China and Japan — where growth is stalling and prospects remain dim. That's the bleak picture facing global finance officials who are meeting this week in Washington to consider policies to address the world's uneven growth. Their meetings follow downbeat assessments of the global economy issued this week by the International Monetary Fund, the Brookings Institution and the Federal Reserve. By Martin Crutsinger. SENT: 970 words, photos.

With:

— WORLD ECONOMY-SURVEY — The Pew Research Center releases the latest findings from its economic survey of 49,000 people in 44 countries. So far, Pew has found far more optimism in China, Vietnam and other fast-growing economies in the developing world than in slow-growing Europe, Japan and the United States. By Paul Wiseman. SENT: 450 words, photos.

MYSTERY FLAVORS-SAFETY

NEW YORK — They help give Coke its distinctive bite and Doritos its cheesy kick. But the artificial and natural flavors used to rev up the taste of processed foods remain a mystery to most Americans. "Artificial and natural flavors" have become ubiquitous terms on food labels, helping create vivid tastes that would otherwise be lost in mass production. As the science behind them advances, however, some are calling for greater transparency about their safety and ingredients. By Candice Choi. SENT: 900 words, photos.

EBOLA-TRAVEL

FRANKFURT, Germany — Airlines flying directly to and from the West African countries stricken by Ebola could carry infected passengers without knowing, but barring a complete stop to travel, they have few options to reduce their risks. Passengers are screened before boarding, but because the disease is hard to catch in the early stages, it's possible the tests might not catch infected individuals. And screening people on arrival, as the U.S. has said it will do, may not be much more effective. That leaves European authorities focusing on quick response on the ground, such as high-tech hospitals near airports where infected passengers can be quarantined. By David McHugh. UPCOMING: 800 words by noon.

With:

— EBOLA-AIRPORT SCREENING-FIVE THINGS — Airline passengers arriving from the three West African countries experiencing an unprecedented Ebola outbreak will be screened for potential exposure. Five things you need to know about the screenings. UPCOMING: 550 words, photo.

And:

— EBOLA-IMF-WORLD BANK — The presidents of three Ebola-stricken West African nations seek an immediate outpouring of money, doctors and hospital beds, and representatives nations gathered at a World Bank meeting promise to send more aid quickly, including a pledge of medical evacuations for health care responders who catch the virus. SENT: 530 words, photos.

MARKETS & ECONOMY:

AIG LAWSUIT

WASHINGTON — Former Federal Reserve Chairman Ben Bernanke is scheduled to testify at the trial of a lawsuit brought by former AIG Chairman and CEO Maurice Greenberg. He is suing the government for about $40 billion in damages over its handling of the bailout. By Marcy Gordon. UPCOMING: Prospects, timing uncertain.

UNEMPLOYMENT BENEFITS

WASHINGTON — Slightly fewer Americans sought unemployment benefits last week, pushing the average number of applications in the past month to an eight-year low. The Labor Department says weekly applications fell 1,000 to a seasonally adjusted 287,000 in the week ended Oct. 4. It's the fourth straight week that applications have been below 300,000, a clear sign of a job market on the mend. By Christopher S. Rugaber. SENT: 430 words, photo.

WHOLESALE INVENTORIES

WASHINGTON — U.S. wholesale companies restocked their warehouses in August at the fastest pace since April, led by big increases in computers, lumber and furniture. Wholesale sales fell by the most since January. By Christopher S. Rugaber. SENT: 300 words, photo.

MORTGAGE RATES

WASHINGTON — Average U.S. mortgage rates fall for the third straight week, making it more affordable to borrow to buy a home. Mortgage company Freddie Mac says the nationwide average for a 30-year loan fell to 4.12 percent from 4.19 percent last week. By Josh Boak. SENT: 390 words.

OBAMA-ECONOMY

WASHINGTON — President Barack Obama is all in with his economic pitch. The American public is not. Over the next 27 days, he's hoping to change that. The White House is betting that Obama's full throated embrace of the economic recovery and of populist proposals for gender pay equity and a higher minimum wage will galvanize his core supporters and persuade independents to help Democrats retain control of the Senate. UPCOMING: 300 words by 2 p.m., will be updated from events starting at 6 p.m.

— MALAYSIA-BANK MERGER — Three Malaysian banks announce plans for a merger to create Southeast Asia's fourth-biggest commercial lender and an Islamic bank. By Eileen Ng. SENT: 200 words.

EARNINGS:

— EARNS-PEPSICO — PepsiCo's third-quarter profit rises 5 percent thanks in part to strong overseas sales and the company boosted its outlook for the year, sending shares toward an all-time high before the market opened. SENT: 230 words, photo.

INDUSTRY:

JEEP FACTORY'S FUTURE

TOLEDO — The thought of losing the Jeep Wrangler — a direct descendant of the vehicle that rolled off the assembly line bound for the battlefields of World War II — is a little bit like losing a family member for those who spent decades building it. Word that Chrysler is considering moving production elsewhere so that the Wrangler can comply with new fuel economy standards has created feelings of anger, betrayal and fear in this Midwestern industrial city. By John Seewer. SENT: 720 words, photos.

PEPSICO-FAT TAX

NEW YORK — No wonder Coke and Pepsi are spending millions of dollars to fight proposed taxes on sugary drinks in California. PepsiCo reported a higher quarterly profit as global sales increased, but one weak spot was Mexico. The company said a new tax on junk food and sugary drinks hurt its snacks sales volume. Incorporates BC-US--Earns-Pepsico. By Candice Choi. SENT: 540 words, photo.

AIRLINES-DELAYS

Airline delays and cancellations are up slightly from last year's peak travel season. The U.S. Department of Transportation says flights on the nation's largest airlines arrived on time 77.7 percent of the time in August. That's down from 78.8 percent in the same month last year, although it is better than July. SENT: 290 words.

With:

— AIRLINES-RANKINGS

— LEGO-SHELL — Danish toy maker Lego says it won't renew a deal allowing Shell to hand out Lego sets at its gas stations in some 30 countries, following a viral campaign protesting Arctic drilling. SENT: 300 words.

— ENDO-AUXILIUM ACQUISITION — Ireland's Endo International is buying Auxilium Pharmaceuticals Inc. in a sweetened cash-and-stock deal valued at $2.6 billion a few weeks after Auxilium rejected a lower bid for the company. SENT: 430 words.

— KINDRED HEALTHCARE-GENTIVA — Kindred Healthcare Inc. is buying home health and hospice care provider Gentiva Health Services Inc. in a cash-and-stock deal valued at about $719.6 million, sealing a deal after previous rejections by Gentiva. SENT: 380 words.

— STONE BREWING-VIRGINIA — Stone Brewing Co., one of the nation's top 10 craft breweries, is tapping Virginia for its East Coast operations. SENT: 480 words. UPCOMING: Will be updated from 2 p.m. announcement.

— SUPERSTORM-NJ TRANSIT — New Jersey Transit is suing insurer Lloyds of London for more help paying to repair damage caused by Superstorm Sandy. SENT: 130 words.

— NETHERLANDS-UKRAINE-PLANE — The body of one passenger on Malaysia Airlines Flight 17 was found wearing an oxygen mask, Dutch prosecutors say, raising questions about how much those on board knew about their fate as their plane went down above eastern Ukraine in July. SENT: 300 words.

TECHNOLOGY & MEDIA:

TIME WARNER-COMCAST

NEW YORK — Time Warner Cable says its shareholders approved its acquisition by Comcast Corp., clearing another hurdle for the $45 billion deal. In February, Comcast said it agreed to buy rival Time Warner in an all-stock deal. The deal will make Comcast, which also owns NBCUniversal, a dominant force in both creating and delivering entertainment to U.S. homes. SENT: 130 words.

THE STATUE SELFIE

Walk into Eddie DaRoza's office and you'll find two of him there: the actual 32-year-old video producer, and a 5-inch statuette of him. An action figure selfie, if you will. The advent of digital cameras and smartphones killed the traditional mall portrait studio, but 3-D printing has sparked a new trend. Statue studios will scan you or your kids in seconds and just days later you can arrange the statuettes on your mantel. Staples, Wal-Mart and other retailers are testing ways to create everything from hybrid figurines for Star Trek fans to personalized wedding cake toppers. By Peter Svensson. SENT: 660 words, photos.

DICTATOR SUES VIDEO GAME

LOS ANGELES — Former New York City Mayor Rudy Giuliani will argue that a case against Activision Blizzard Inc. filed by disgraced Panamanian dictator Manuel Noriega against the "Call of Duty" franchise, the video game maker says. Giuliani joined the legal team fighting Noriega's lawsuit last month but had not been expected to argue the video game giant's case at an Oct. 16 hearing. SENT: 430 words, photo.

— APPLE-ICAHN — Activist investor Carl Icahn is taking another swing at getting Apple to buy back more of its stock and improve the relative value of the shares. Icahn asked the iPhone maker's CEO, Tim Cook, to give the company's board a plan to meaningfully increase share repurchases. In return, the billionaire investor promises not to offer up any of his roughly 53 million Apple Inc. shares in the repurchase. SENT: 360 words.

— EBAY-BRANDING CAMPAIGN — E-commerce site eBay is kicking off a global branding campaign that aims to draw attention to the wide array of goods it has available ahead of the holiday shopping season. SENT: 280 words.

— HISTORY OF SCIENCE AUCTION — A letter by Charles Darwin on the sex life of barnacles and a still-working vintage Apple computer — one of only 50 made in Steve Jobs' garage in 1976 — are among the unique pieces of science history up for auction this month. SENT: 410 words, photos.

INTERNATIONAL:

GERMANY-ECONOMY

BERLIN — The drumbeat of bad economic news for Germany continues, with the biggest monthly plunge in exports in five years raising the risk that Europe's largest economy might slide into recession. Exports fell in August by 5.8 percent over July, the sharpest drop since early 2009, when the global financial crisis was wreaking havoc on the world economy. It completes a string of bad news that one analyst called "a summer horror story for Germany." By David Rising. SENT: 470 words, photos.

With:

— GERMANY-UKRAINE-GAS — German Chancellor Angela Merkel says she is "cautiously optimistic" that talks to resolve differences between Russia and Ukraine about the supply of natural gas will succeed. SENT: 150 words, photo.

— IRELAND-ECONOMY — Ireland's treasury says it has sold 1 billion euros ($1.28 billion) in 10-year bonds at a record-low yield of 1.63 percent, providing the latest evidence of the country's strong rebound from a debt crisis and international bailout. SENT: 450 words, photos.

— BRITAIN-ECONOMY — The Bank of England decides to keep interest rates steady despite the economy's strong recovery as it first wants to see a stronger rise in wages and inflation remains low. Policymakers voted to keep the key rate at a record low 0.5 percent and to refrain from pumping money into the economy. SENT: 130 words.

— CHINA-CORRUPTION — China's ruling Communists expell the former party head of the southern city of Guangzhou over graft allegations, amid a wide-ranging campaign to reduce waste and rehabilitate the party's reputation as corrupt and out of touch. SENT: 420 words.

— ITALY-REFORMS — Italian Premier Matteo Renzi's government survives a confidence vote on labor reforms in the Senate after a raucous debate that degenerated into scuffles. SENT: 130 words, photo.

PERSONAL FINANCE:

SMART SPENDING-WAL-MART-SAVINGS CATCHER

Taking advantage of price-matching at the grocery store has always promised big savings, at the cost of a lot of work. Wal-Mart's Savings Catcher app aims to do the work for you. And it works, though not without a few hiccups and only if you're willing to do without instant gratification. By Michael Lee. UPCOMING: 500 words by 2:30 p.m.

OF MUTUAL INTEREST-END OF BOND BUYING

Investors have had a lot of advance notice that the Federal Reserve is preparing to end its bond buying program to stimulate the economy. The hope is that when the Fed makes the announcement on Oct. 29, it won't mean big swings for markets given all the time investors have had to prepare. But some fund managers say this time may not be different from when earlier rounds of quantitative easing have ended, and that means they're preparing for drops in stock prices and bond yields. 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.

CENTERPIECE

Floodgates

The biggest star in the bond market, Bill Gross, made a surprise announcement on Friday, Sept. 26, revealing that he was leaving Pimco and moving to Janus. And investors reacted. The most recent data from the Investment Company Institute shows that investors pulled a net total of $21 billion from taxable bond mutual funds in the week ended October 1. That's a spike from a net withdrawal of $35 million in the week prior. UPCOMING: Graphic expected by 6 p.m.

COMPANY SPOTLIGHT

Ruby Tuesday soars

Shares of Ruby Tuesday soar after the restaurant operator reported better-than-expected quarterly results late Wednesday. UPCOMING: Graphic expected by 6 p.m.