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Associated Press

Posted on June 16, 2013 at 8:30 PM

Business News at 5:30 p.m.

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ADDS:

G8 SUMMIT

TOP STORIES:

WALL STREET WEEK AHEAD

NEW YORK — The investment landscape can be a scary place. This year's stock market surge has slowed. Savings accounts earn practically nothing. Bonds, a traditional haven, seem like a poor choice because interest rates are likely to rise. The stocks that people invest in for safe, steady income — like utilities and health care — are getting crowded, and aren't as cheap as they used to be. The Associated Press asked five professional investors where they're putting money in these uncertain times. By Business Writer Christina Rexrode.

MARKETS & ECONOMY:

G8-ECONOMY

ENNISKILLEN, Northern Ireland — Europe is mired in debt and recession. Financial markets have hit violent ups and downs on fears that U.S. stimulus efforts may soon be scaled back. Japan is finally looking up after years of stagnation — but it remains an open question if the recovery will stick. That's the global economy that will confront the heads of the Group of Eight leading economies as they gather Monday and Tuesday for their annual summit in Northern Ireland. By David McHugh and Shawn Pogatchnik.

AP Photos.

G8 SUMMIT

ENNISKILLEN, Northern Ireland (AP) — Northern Ireland police commanders says they're optimistic that the G-8 summit will pass peacefully, with only 2,000 protesters expected to travel to the remote lakeside venue for the main demonstration. By Shawn Pogatchnik.

AP Photos.

INDUSTRY:

BILLIONAIRE'S COAL DEBTS

West Virginia billionaire Jim Justice made his fortune in coal and agriculture, and he is revered in his home state as the man who rescued the historic Greenbrier resort from bankruptcy. Worth an estimated $1.7 billion, Justice is a prominent member of the tiny West Virginia community of Lewisburg, keeping a modest home and finding time to coach basketball at the local high school. He ranks No. 292 on a list of wealthiest Americans by Forbes magazine, which estimates that his personal wealth has grown by $500 million in the last year. But his coal operations in Appalachia are struggling as business owners have filed at least nine lawsuits since late 2011 claiming they are not being paid for work at Justice mines. Still others say they are owed money but haven't yet sued. By Dylan Lovan.

AP Photos.

TECHNOLOGY & MEDIA:

__BOX OFFICE —"Man of Steel" leaped over box office expectations in a single weekend. The Warner Bros. superhero film earned $113 million in its opening weekend at the box office, according to studio estimates Sunday.

INTERNATIONAL:

FRANCE-AIR SHOW

PARIS — The Paris Air Show, which opens for business on Monday brings hundreds of aircraft to the skies around the French capital, the usual tense competition between aircraft manufacturers Boeing and Airbus, and a slew of innovations large and small. A look at what will happen at the show. By Lori Hinnant.

CLIMATE-CITIES

BONN, Germany — From Bangkok to Miami, cities and coastal areas across the globe are already building or planning defenses to protect millions of people and key infrastructure from more powerful storm surges and other effects of global warming. Some are planning cities that will simply adapt to more water. In the Netherlands, houses that can float are a building sensation. Snapshots of what cities around the world are doing to prepare. By Karl Ritter. Second in a two-part package.

AP Photos.

AP Video.

PANAMA-TALE OF TWO CANALS

PANAMA CITY— In a little more than five years, Panama has slashed its unemployment rate by two-thirds and nearly tripled the rate of government spending as the double-digit growth of a Panama Canal-fueled boom has made it the hemisphere's hottest economy. Just to the north, Nicaragua has watched years of slower growth fail to move it out of its position as the hemisphere's second-poorest nation, after Haiti. Despite deep reservations among opposition lawmakers, environmentalists and independent shipping experts, Nicaragua's National Assembly voted overwhelmingly to grant Hong Kong-based HK Nicaragua Canal Development Investment Co. an exclusive, renewable 50-year concession to measure the feasibility of a new canal, then build it and take the lion's share of the profits. By Juan Zamorano and Michael Weissenstein.

AP Photos.

VATICAN BANK

Pope Francis took a first big step in reforming the troubled Vatican bank by tapping a trusted prelate to help oversee its management, in a sign he wants to know more about its activities. By Nicole Winfield.

AP Photos.

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