BC-APFN-Business News Preview
Among the stories Friday from The Associated Press:
EUROPE-ECONOMY-NO FIRE BRIGADE
FRANKFURT, Germany — Europe's economy needs help — fast. Yet the two powers that could take action, the European Central Bank and Germany, don't see eye to eye about what to do. That leaves Europe's currency union stuck in a dangerous policy limbo that now has investors worried. By David McHugh. SENT: 800 words, photos.
— WORLD ECONOMY — The heads of major international economic organizations are to discuss the global economy following turmoil in financial markets this week and worries about another recession in Europe. SENT: 130 words.
NEW YORK — U.S. stocks open higher as investors weigh the latest corporate earnings news and data showing home construction picked up last month. General Electric and Morgan Stanley were among the early gainers after each reported earnings that beat analysts' estimates. By Alex Veiga. SENT: 500 words. UPCOMING: 700 words by 5 p.m.
MARKETS & ECONOMY:
WASHINGTON — Federal Reserve Chair Janet Yellen says the last several decades have seen the most sustained rise in income inequality in a century. By AP Economics Writer Martin Crutsinger. SENT: 310 words.
WASHINGTON — Construction firms broke ground on more apartment complexes in September, pushing up the pace of U.S. homebuilding. The Commerce Department says housing starts rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million homes. By AP Economics Writer Josh Boak. SENT: 610 words, photo.
— TRUMP CASINOS-BANKRUPTCY — Crucial ruling due on future of Atlantic City's Trump Taj Mahal casino. SENT: 430 words, photo. UPCOMING: Ruling expected at 3 p.m.
— YARA-CF INDUSTRIES — Norway's Yara International and Deerfield, Illinois-based CF Industries have abandoned merger talks that would have created a massive player in the fertilizer industry. SENT: 130 words.
NEW YORK — General Electric's third quarter profit rose 11 percent on strong performance from its aviation and oil and gas divisions. By Business Writer Jonathan Fahey. SENT: 260 words, photo.
— EARNS-MORGAN STANLEY — Morgan Stanley's third-quarter net income nearly doubled, helped by strength in its institutional securities and wealth management divisions. SENT: 230 words, photo.
LONDON — The Bank of England's chief economist signals that interest rates could remain at record lows for longer than expected due to weaker wage growth and global economic uncertainties. By Danica Kirka. SENT: 320 words.
— GREECE-ECONOMY — Greece's prime minister said his government is in talks with rescue lenders over a possible precautionary credit line to ease the country's exit from its 240 billion euro ($308 billion) bailout program. SENT: 130 words.
— CYPRUS-ECONOMY — Bailed-out Cyprus' finance minister says economy faring better than creditors' projections. SENT: 130 words.
— GERMANY-TRAIN STRIKE — German train drivers' union calls for 2-day weekend strike in bitter pay dispute. SENT: 135 words.