BC-APFN-Business News Digest
Business News at 1:50 p.m.
6 a.m.-6 p.m. Skip Wollenberg and Michael A. Lee
6 p.m.-9 p.m. Richard Jacobsen
For help please call: 800-845-8450, ext. 1680. 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 firstname.lastname@example.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.
CHARTER-TIME WARNER CABLE
NEW YORK — As TV watchers increasingly look online for their fix, cable companies are bulking up. In the latest round, Charter Communications is buying Time Warner Cable for $55.33 billion. And executives say they're confident regulators will allow the creation of another U.S. TV and Internet giant. By Tali Arbel. SENT: 720 words, photos.
— CHANGING CABLE INDUSTRY-Q&A — As the Internet upends their business, cable companies are rushing to reinvent themselves as dominant broadband providers and distributors of online video. Charter Communications' bid for Time Warner Cable is the latest in a wave of deals that in the long run could force consumers to pay more. By Tali Arbel and Bree Fowler. UPCOMING: 800 words by 3 p.m.
NEW YORK — They're not Hollywood stars, they're not TV personalities and they don't play in a rock band, but their pay is in the same league. Six of the top 10 highest paid chief Executives last year came from the media industry, according to a survey carried out by executive compensation research firm Equilar for the Associated Press. By Steve Rothwell and Ryan Nakashima. SENT: 1,650 words, photos.
— CEO PAY-TOP 10
— CEO PAY-BIGGEST CHANGES
— CEO PAY-INDUSTRY
— CEO PAY-FORMULA
MACAU — Macau is doubling down even as the odds change. The world's casino capital this week welcomes the first of a new wave of lavish casino resorts for its up-and-coming Cotai Peninsula. It's a $20 billion bet by casino operators amid an extended losing streak in the tiny Chinese enclave. By Kelvin Chan. SENT: 1,000 words, photos.
NEW DELHI — Indian prime minister Narendra Modi's first year in office was punctuated with promises of clear rivers, clean energy and toilets for all but environmentalists worry his government is on an entirely different path: dismantling hard-won environmental laws in the name of boosting growth. By Katy Daigle. SENT: 950 words, photos.
NEW YORK — Taco Bell and Pizza Hut say they're getting rid of artificial colors and flavors, making them the latest big food companies scrambling to distance themselves from ingredients people might find unappetizing. By Candice Choi. SENT: 580 words, photo.
MARKETS & ECONOMY:
WASHINGTON — More Americans buy new homes in April — evidence that the stronger job market is powering the housing sector. By Josh Boak. SENT: 600 words, photo.
WASHINGTON — U.S. home prices rise at a steady pace in March, pushed higher by a limited supply of houses for sale. By Christopher S. Rugaber. SENT: 480 words, photo.
WASHINGTON — The Conference Board says consumer confidence rebounded this month as the job market showed signs of improvement. By Paul Wiseman. SENT: 250 words, photo.
WASHINGTON — Orders to U.S. factories for long-lasting manufactured goods fall slightly in April. But orders in a category that indicates business investment post a second increase, a hopeful sign that this key sector is starting to revive. By Martin Crutsinger. SENT: 440 words.
NEW YORK — U.S. stocks fall broadly as investors fret about Greece's debt crisis and soft demand for durable goods last month. By Ken Sweet. SENT: 460 words, photos. UPCOMING: 700 words by 5 p.m.
— DEUTSCHE BANK-SEC SETTLEMENT — Germany's Deutsche Bank AG agrees to pay $55 million to settle civil charges of filing incorrect reports during the financial crisis that downplayed risks of huge losses. By Marcy Gordon. SENT: 240 words.
— BRITAIN-LIBOR — A British prosecutor says a former Citibank and UBS trader motivated by greed served as the ringmaster of the alleged manipulation of a key interest rate, the London Interbank Lending Rate, or Libor. SENT: 130 words, photo.
— OLIVE GARDEN-BREADSTICKS — Olive Garden said earlier this month it would introduce "breadstick sandwiches" as part of a broader menu revamp intended to play up its most popular offerings. The sandwiches don't arrive until June 1, but Olive Garden already has a follow-up act planned with "breadstick crostini" in August. By Candice Choi. SENT: 440 words, photo.
— GM-FORT WAYNE — General Motors says it will spend $1.2 billion on new facilities and technology for at the Indiana factory where it builds Chevrolet Silverado and GMC Sierra pick-up trucks. SENT: 130 words. UPCOMING: Will be updated.
— MOROCCO-FORD — Ford Motor Company is expanding its presence in North Africa with a new Moroccan sales office and plans to double the amount of parts purchased in the North African kingdom. SENT: 330 words.
— IRELAND-RYANAIR — Europe's leading budget airline, Ryanair, beats forecasts again, reporting full-year net profits of 867 million euros ($949 million), 66 percent higher than the year before. By Shawn. Pogatchnik. SENT: 600 words, photos.
— SUPREME COURT-FALSE CLAIMS ACT — The Supreme Court rules in favor of defense contractor KBR Inc. in a whistleblower lawsuit over claims that the company overbilled the government for work in Iraq. SENT: 130 words.
— SUPREME COURT-BANKRUPTCY — The Supreme Court says bankruptcy courts have authority to rule on disputes that fall outside the bankruptcy proceedings if the parties to the case consent. SENT: 140 words.
— CAN-AM SPYDER-RECALL — U.S. safety regulators have closed an investigation of fires in Can-Am Spyder three-wheeled motorcycles after the manufacturer agreed to a recall. SENT: 250 words.
— BOOKS-INDEPENDENT STORES — Core membership of the American Booksellers Association grew from 1,664 companies last spring to 1,712 this year, the trade group says, the day before the BookExpo America publishing convention and trade show begins in Manhattan. By Hillel Italie. SENT: 370 words.
TECHNOLOGY & MEDIA:
— SKOREA-SAMSUNG-SUCCESSION — Two key Samsung companies are merging in a step toward ensuring the son of the group's ailing chairman inherits control of the theme parks to smartphones conglomerate. By Youkyung Lee. SENT: 450 words, photos.
— APPLE-DESIGN — Apple innovator Jonathan Ive says he's been promoted to the company's chief design officer, making him one of the most powerful people in the world's most valuable company. SENT: 140 words.
— TV-TOP PITCHMEN — The Nielsen company looked at celebrities who made commercials during the first three months of the year and ranked them with a calculation that takes into account likability, public awareness, influence and other factors. Liam Neeson came out on top. SENT: 300 words, photo.
ATHENS, Greece — With Greece just days away from missing a key debt repayment, here is a guide explaining the country's financial plight and what might happen next. By Elena Becatoros. SENT: 910 words, photos.
— GREECE-BAILOUT — Greece is proposing to legalize tax-dodgers' undeclared money for a fee, a way to raise money as the country tries to reach a deal with creditors to get more bailout money and avoid default. SENT: 500 words, photos.
— RUSSIA-INVESTORS — Russian President Vladimir Putin has encouraged businesses to expand domestically before Western nations lift economic sanctions, allowing once again the sale of many foreign goods in Russia. SENT: 140 words.
— CHINA-IMF — The International Monetary Fund no longer believes China's tightly controlled currency is undervalued, an IMF official said Tuesday, a stance that might help Beijing in its wrangling with Washington over exchange rate controls. SENT: 340 words.
— NIGERIA-FUEL CRISIS — Oil suppliers say Nigeria's outgoing government has agreed to pay $800 million to end a fuel crisis crippling the economy just days before the inauguration of a new president Friday in Africa's biggest oil producer. SENT: 140 words.
— SPAIN-EVICTIONS — Spain's Constitutional Court strikes down a decree by a regional government that tried to protect people in economic difficulty by allowing empty houses owned by banks to be temporarily confiscated for use as homes. SENT: 140 words.
— PORTUGAL-TRANSPORT STRIKES — Portuguese labor groups are vowing to keep up their fight against the government's privatization plans for public transport, as Lisbon subway staff walked off the job for the 43rd time in four years. SENT: 130 words.
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.
Foreign is first in investors' minds as dollars continue to flock to mutual funds and ETFs that focus on international markets. Of the seven funds that took in the most money last month, five specialize in foreign stocks and bonds. UPCOMING: Graphic expected by 6 p.m.
Nordstrom and TD Bank strike a deal
Shares of Nordstrom rise after the retailer announces that Toronto-Dominion Bank Group will acquire its U.S. Visa and private label consumer credit card business. UPCOMING: Graphic expected by 6 p.m.