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TOP STORIES:
TIKTOK-HEARING -- The CEO of TikTok will make a high-profile appearance Thursday before a U.S. Congressional committee to make the case that the hugely popular video-sharing app shouldn't be banned. Shou Zi Chew's testimony comes at a crucial time for the company, which has acquired 150 million American users but is under increasing pressure from U.S. officials concerned about data security and user safety. By Kelvin Chan and Haleluya Hadero. SENT: 700-word preview, photos. UPCOMING: Will be updated from hearing, expected to begin at 10 a.m.
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TIKTOK BAN-EXPLAINER -- The battle between the U.S. and China over TikTok comes into full view on Thursday when the social media platform's CEO testifies before Congressional lawmakers. TikTok has 150 million American users but it's been dogged by persistent claims that it threatens national security and user privacy, or could be used to promote pro-Beijing propaganda and misinformation. So are the data security risks real? And should users be worried that the TikTok app will be wiped off their phones? Here's what to know. By Kelvin Chan and Haleluya Hadero. SENT: 1,050 words, photos.
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CHINA-US-TIKTOK -- China's government said Thursday it would oppose possible U.S. plans to force TikTok's Chinese owner to sell the short-video service as a security risk and warned such a move would hurt investor confidence in the United States. SENT: 390 words, photo.
AP POLL-BIDEN-ECONOMY -- Approval of President Joe Biden has dipped slightly since a month ago, nearing the lowest point of his presidency as his administration tries to project a sense of stability while confronting a pair of bank failures and inflation that remains stubbornly high. By Josh Boak and Emily Swanson. SENT: 880 words, photo.
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ELECTION 2024-BIDEN CAMPAIGN-UNION -- Joe Biden likes to say he's the most pro-union president in U.S. history. When he announces his expected reelection campaign in the coming weeks, he'll get the chance to prove it to his own staffers. By Will Weissert and Zeke Miller. SENT: 1,200 words, photos.
SWITZERLAND-CENTRAL BANK -- The Swiss central bank hiked its key interest rate Thursday and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil. By Jamey Keaten and David McHugh. SENT: 800 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS -- Stocks are rising Thursday to recover much of their steep loss from a day before, when markets tumbled into the close after the Federal Reserve raised its key borrowing rate another quarter point. By Stan Choe. SENT: 700 words, photos. UPCOMING: About 800 words by 4:30 p.m., photo.
UNEMPLOYMENT BENEFITS -- The labor market continues to defy Federal Reserve attempts to cool hiring, with U.S. applications for unemployment benefits down again last week and remaining at historically low levels. By Matt Ott. SENT: 460 words, photo.
OFF THE CHARTS-LOW HOUSING INVENTORY -- The number of U.S. homes on the market is at near-historic lows, which could dim would-be buyers' prospects for finding a house or condo and fuel competition for the most affordable properties, economists say. By Alex Veiga. SENT: 400 words, photo.
MORTGAGE RATES -- Mortgage buyer Freddie Mac reports on the average U.S. long-term mortgage rate. By Matt Ott. UPCOMING: Will be led from noon release.
INDUSTRY:
FORD-EV LOSSES -- Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. By Tom Krisher. SENT: 560 words, photo.
TECHNOLOGY & MEDIA:
COINBASE-SEC -- Shares of Coinbase are tumbling 11% in morning trading after the cryptocurrency trading platform received a warning from the Securities and Exchange Commission that it could face securities charges. By Michelle Chapman. SENT: 500 words, photos.
PERSONAL FINANCE:
NERDWALLET-BASKETBALL-BETTING CREDIT -- An estimated 68 million Americans are expected to place bets on this years NCAA Men's Basketball Tournament. But should you give into the madness of using your credit card to place bets on popular gambling sites? From unpredictable fees and credit score implications to an increased risk of addictive behavior, here's why your credit card is better off riding the bench. By Jaime Hanson of NerdWallet. SENT: 860 words, photo.
INTERNATIONAL:
BRITAIN-ECONOMY -- The Bank of England focused on fighting inflation, announcing an 11th consecutive interest rate increase Thursday despite concerns about the economic fallout from troubles in the global financial system. By Danica Kirka. SENT: 600 words, photo.
CHINA-DEVELOPER'S DEBT STRUGGLE -- A Chinese real estate developer whose struggle to manage more than $300 billion in debt rattled global financial markets announced a long-awaited plan Thursday to restructure what it owes to foreign bondholders. By Joe McDonald. SENT: 390 words, photo.