Financial markets story to feature format suited to Web and mobile

The following advisory was sent today to editors at AP member news organizations:

Starting next month, The Associated Press will take a fresh approach to its coverage of global financial markets.

Instead of two separate stories each day – one about U.S. markets and the other about international markets – AP will produce a single story that reports and analyzes the most important global news and trends.

This July 16, 2013 file photo shows a street sign for Wall Street outside the New York Stock Exchange in New York. U.S. stock futures are steady Wednesday, May 28, 2014, with the market market hovering at record levels. (AP Photo/Mark Lennihan, File)

(AP Photo/Mark Lennihan, File)

The global financial markets story will be updated throughout the day in Asia, Europe and the U.S. and will include coverage of stocks, bonds, oil and other commodities.

The story will move under the slug BC-Financial Markets, beginning on Monday, July 28. It will replace BC-US-Wall Street, BC-World Markets, BC-Oil Prices and BC-Commodities Review. (AP will no longer write separate daily stories on oil and commodities.)

Just like the current Wall Street story, the new Financial Markets story
will feature an easy-to-read format suited to the Web and mobile devices. It will include a market summary, followed by brief sections that highlight key news and trends. (See two examples below.)

This format gives readers lots of information with continuous updates and catchy headlines.

After markets close each day in the U.S., the AP will continue to publish a more traditional, narrative-style story that summarizes and analyzes the most important events in financial markets. A narrative-style story about markets can run at any time, in any global region, when warranted by major news events …

Here’s an example of how the new format for the BC-Financial Markets story might have looked like on June 11 at around 5 a.m. Eastern time, reflecting moves in Asian and European markets:

LONDON (AP) — Global stock markets turned skittish Wednesday after the World Bank lowered its global growth forecast and a militant takeover of a key Iraqi city pushed oil prices higher. The World Bank cut its 2014 growth forecast to 2.8 percent, citing a bitter American winter and the political crisis in Ukraine. The weaker outlook sent Asian markets mostly lower, except for Japan, which closed slightly higher.

KEEPING SCORE: Germany’s DAX dropped 0.6 percent to 9,969 and the CAC 40 in France fell 0.7 percent to 4,563. Britain’s FTSE 100 shed 0.5 percent to 6,839. In the U.S., stock index futures sagged in pre-market trading after a run of record highs. Dow Jones futures fell 0.3 percent to 16,894 and S&P 500 futures were down 0.4 percent to 1,943. Earlier, Asian indexes closed mostly lower.

WEAKER FORECAST: The World Bank’s gloomier outlook dampened investors’ enthusiasm for stocks, which had been on the upswing. The bank cut its forecast for growth this year to 2.8 percent from the 3.2 percent it forecast in January.

OIL SPIKE: Oil prices rose ahead of an OPEC meeting in Europe that is expected to keep production levels steady for the year. Benchmark U.S. oil for July delivery rose 30 cents to $104.65 a barrel in electronic trading in New York, extending Tuesday’s large gain. Energy markets were also affected by al-Qaida-inspired militants overrunning much of the Iraqi city of Mosul on Tuesday. Mosul lies in an area that is a major gateway for Iraqi oil.

THE TAKEAWAY: IG Group analyst Ryan Huang said the broader outlook for the global economy remains strong, especially after the European Central Bank announced additional monetary stimulus. “Last week’s monetary policy decision by the ECB to cut rates should also set the eurozone on course for recovery and help developing countries as a market for their exports,” Hwang said in a market commentary. “That will be a further boost for China.”

ASIA: Hong Kong’s Hang Seng closed down 0.3 percent at 23,257.29 and Australia’s S&P/ASX 200 dropped 0.3 percent to 5,454. Seoul’s Kopsi inched up 0.1 percent to 2,014.67 and China’s Shanghai Composite posted equally anemic gains, rising 0.1 percent to 2,054.95. Japan’s Nikkei 225 rose 0.5 percent to 15,069.48, helped by indications that a downturn from a sales tax hike instituted in April might not be as severe as originally expected.

CURRENCIES: The dollar fell to 102.06 yen from 102.33 late Tuesday. The euro slipped to $1.3534 from $1.3544.

And here’s what a version might have looked like on June 11 at about 1:30 p.m. Eastern time, reflecting trading in U.S. markets:

NEW YORK (AP) — U.S. stocks slipped and government bond prices rose after the World Bank downgraded its forecast for the global economy this year, citing a bitter American winter and the political crisis in Ukraine. Markets also slumped in Europe and Asia, except for Japan, where indexes ended slightly higher.

KEEPING SCORE: The Standard & Poor’s 500 index fell six points, or 0.3 percent, to 1,944 as of 1:20 p.m. Eastern time. The Dow Jones industrial average dropped 99 points, or 0.6 percent, to 16,846. The Nasdaq composite fell four points, or 0.1 percent, to 4,333. Markets also closed lower in Europe and Asia.

GLOBAL GROWTH: The World Bank said late Tuesday that it expects the world economy to grow 2.8 percent this year, below the 3.2 percent expansion it had predicted in January.

TAKING A PAUSE: Despite declines Tuesday and early Wednesday, the S&P 500 has been on a slow and steady rise since April and is now up 5.2 percent for the year. In recent weeks, encouraging economic reports have pushed the index to a string of all-time highs, with its latest record of 1,951.27 occurring Monday.

KEEPING THE FAITH: The rally in stocks should continue this year as the economy strengthens, said James Lui, global market strategist at JPMorgan Funds. In the last month, stock gains have been led by the technology and consumer discretionary sectors, which should benefit more from stronger growth. This move “is going to be what drives the market further along,” Lui said.

BEST BEHIND US: Boeing fell $2.88, or 2.1 percent, to $134.37 after brokerage RBC cut its outlook on the plane maker’s stock. Analysts at the bank say that after three years of record orders and no new planes in the pipeline, the good news for Boeing is “already out there.”

TAX BOOST: H&R Block jumped $1.34 cents, or 4.4 percent, to $32.07 after the tax preparation company reported earnings that beat analysts’ expectations. The company’s fourth-quarter net income surged as more people used its services and its prepaid card.

TOUCH-SCREEN TECH: Synaptics jumped $18.16, or 27 percent, to $84.68 after the maker of touch-screen technology said it would buy smartphone and tablet chipmaker Renesas SP Drivers for $475 million. Because of the deal, Synaptics also raised its fourth-quarter revenue outlook.

BONDS, COMMODITIES AND CURRENCIES: As stocks fell, government bonds rallied. The yield on the 10-year Treasury note eased to 2.64 percent from 2.65 percent late Tuesday. The price of oil was little changed at $104.34 a barrel. The dollar fell to 102.10 yen from 102.33 late Tuesday. The euro slipped to $1.3514 from $1.3544.

Is it ISIL or ISIS in Iraq?

How best to refer to the al-Qaida splinter group leading Sunni militants in Iraq? ISIL or ISIS?

In Arabic, the group is known as Al-Dawla Al-Islamiya fi al-Iraq wa al-Sham, or the Islamic State of Iraq and al-Sham. The term “al-Sham” refers to a region stretching from southern Turkey through Syria to Egypt (also including Lebanon, Israel, the Palestinian territories and Jordan). The group’s stated goal is to restore an Islamic state, or caliphate, in this entire area.

The standard English term for this broad territory is “the Levant.” Therefore, AP’s translation of the group’s name is the Islamic State of Iraq and the Levant, or ISIL.

“We believe this is the most accurate translation of the group’s name and reflects its aspirations to rule over a broad swath of the Middle East,” says John Daniszewski, AP vice president and senior managing editor for international news.

The term ISIL also avoids the common misunderstanding, stemming from the initials ISIS, that the group’s name is the “Islamic State of Iraq and Syria.” (“Iraq and Greater Syria” might be an acceptable translation, since Greater Syria also implies the entire area of the Levant.) But saying just “Iraq and Syria” suggests incorrectly that the group’s aspirations are limited to these two present-day countries.

ISIL is also the term used by the United Nations.


This note was corrected on June 18 to reflect that al-Sham does not include Iraq.

Bangkok bureau chief named Journalist of the Year in Asia

The Society of Publishers in Asia named The Associated Press’ Bangkok Bureau Chief Todd Pitman Journalist of the Year, in recognition of his work over the past 12 months, including gripping stories from Typhoon Haiyan and moving coverage of the travails of the Rohingya in Myanmar.

Todd Pitman (AP photo)

Todd Pitman (AP photo)

He accepted the award at the SOPA annual dinner June 11 in Hong Kong.

Pitman’s work “represents the pinnacle of our profession and of our ambitions,” said Ted Anthony, AP’s news director in Asia, in a note to staff.

Earlier this year Pitman also received the Joe and Laurie Dine Citation from the Overseas Press Club of America for his reporting on the massacre in Myanmar.

Read more of his work.

The story of a prolific pedophile: How AP’s investigation came together

The discovery of a teacher whom the FBI regards as one of the most prolific pedophiles in memory has set off a crisis in the close-knit community of international schools and prompted hundreds of people to contact the bureau, greatly expanding the potential number of suspected victims.

There were decades of missed opportunities to bring William Vahey out of the shadows, The Associated Press revealed this week.

This combination of photos provided by the Federal Bureau of Investigation shows William James Vahey in 1986, 1995, 2004 and 2013. Vahey, 64, killed himself in Luverne, Minn. on March 21, 2014. (AP Photo/FBI, File)

This combination of photos provided by the FBI shows William James Vahey in 1986, 1995, 2004 and 2013. (AP Photo/FBI, File)

The AP report and follow-up drew on AP’s global resources, as explained here by Mexico City-based Michael Weissenstein, a lead reporter in the investigation:

When did the scale of this story become evident to you?
The potential scale of William Vahey’s crimes was clear starting last month, when the FBI announced that they had photographic evidence that 90 boys had been drugged and molested, and they were seeking information from students and others who knew Vahey throughout his 40-year career. The FBI quoted Vahey himself as saying to his boss, after he was caught but before he killed himself last March, that he had been doing this all his life. What wasn’t clear was the scale of the missed opportunities to stop Vahey far sooner. This became evident as AP reporters around the world dug into Vahey’s past, digging up records and finding and interviewing people who had known him over the last four decades.

What were the obstacles and challenges in reporting it out?
This was a story about one of the most sensitive and upsetting possible topics _ child sexual molestation _ that sprawled over four decades and 10 countries on four continents. Many of Vahey’s students from years ago now lived in other countries and never knew they had been molested. The parents of students who are still minors understandably were deeply concerned about their children’s privacy. And schools and law-enforcement agencies were reluctant to talk due to concerns about privacy.

How did the global resources of AP factor into the reporting process?
We had a reporter with local sources and knowledge in every region where Vahey had worked. Tami Abdollah in Los Angeles dug deeply into the records of Vahey’s 1969 arrest for child-sex abuse, finding detailed court files and interviewing retired law-enforcement officials who knew how the system worked at the time. Bureau Chief Josh Goodman in Caracas, spoke at length to parents and staff there, unearthing details and anecdotes that allowed us to draw a detailed picture of Vahey’s time in Venezuela. Reporters in London, Minnesota, Jakarta, Dubai and Nicaragua all contributed further essential facts and color. A story like this would have been impossible without the ability to instantly activate the AP’s network of experienced reporters across the world.

Pruitt: ‘Journalists today are targeted’

Three days after the killing of an Associated Press photojournalist and the wounding of an AP correspondent in Afghanistan, AP President and CEO Gary Pruitt today decried attacks against journalists in remarks delivered at a press conference in New York:Gary Pruitt

A free press is the backbone of any country that calls itself a democracy. And yet around the world those whose mission it is to shine a light on power are increasingly under attack. Once regarded as the impartial eyes and ears of the world, journalists today are targeted in an attempt to influence and control the news.

Sometimes they are literally prevented from gathering news – deported, detained or even imprisoned. Other times, government officials and courts work in secrecy to block access to information that the public has a right – and need – to know. And, tragically, sometimes journalists are intentionally murdered in an effort to prevent news from being reported or to intimidate others who passionately believe in the mission of journalism.

As many of you surely know, AP suffered a tragic loss last Friday when photographer Anja Niedringhaus was targeted and killed while covering the run-up to the elections in Afghanistan. AP, and her legion of fans around the world, are mourning her loss. Kathy Gannon, her AP colleague, was seriously wounded.

Anja’s death, the detention of journalists worldwide and the growing secrecy of governments nearly everywhere make our responsibility to bear witness to history more challenging and more dangerous than ever. But also more important. AP abhors the trend of targeting journalists and will always champion the right for all journalists to work without fear in bringing vital information to light for all the world.

The press conference, involving Pruitt and leaders of other news organizations, preceded an evening symposium at Columbia University’s Graduate School of Journalism — co-hosted by the Dart CenterColumbia Global Centers / Middle East and the Columbia Global Freedom of Expression and Information Project – focused on the imprisonment of four Al Jazeera journalists in Egypt.

Peter Greste, Mohammed Fahmy and Baher Mohamed today marked their 100th day behind bars. Abdullah Al Shamy has been held more than six months. They are among 20 defendants being tried on charges of belonging to and aiding a terrorist organization for their coverage of the Muslim Brotherhood. They have pleaded not guilty.

Behind the Sochi scene with AP

As the excitement of the Winter Games unfolds, AP journalists are providing breaking news and images and crucial context for customers around the world.

“The AP team has been tireless,” AP Vice President and Managing Editor Lou Ferrara said from Sochi. “They aren’t just covering the games — they are telling stories that no one else has, with a global perspective and in video, text, audio and stunning photos. Credit goes to the AP journalists and the technology team.”

From laying cable on snowy mountains and testing remote cameras to securing exclusive interviews and capturing iconic moments, here are a few highlights of AP reporters, editors, visual journalists and technicians at work behind the Sochi scene:

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  • With the threat of terrorism looming over the games, authorities said they would clamp down on travelers being able to bring liquids into Russia. Karl Ritter, Stockholm bureau chief working at the Olympics, kept AP ahead of the competition with a story about how easy it was to bring banned carry-on items into Sochi.
  • Despite complaints of stray dogs and unfinished hotels, AP’s Jim Heintz, a Westerner who’s lived in Russia for 15 years, concluded that the games reveal “some promising signs for the country.”
  • When a glitch caused one of the Olympic rings not to open during the opening ceremony Moscow business reporter Nataliya Vasilyeva quickly confirmed that Russian TV viewers saw a rehearsal reel that showed all of the rings working – not the glitch witnessed by the stadium crowd.
  • And David Goldman, an AP photographer based in Atlanta, was a pool photographer in the VIP room with Russian President Vladimir Putin when it happened. What did Putin see? It turns out, he didn’t see the problem either, as AP was first to determine from Goldman’s images.

Follow AP staff at the Olympics in Sochi on this Twitter list and learn more about AP’s coverage in this video with Global Sports Editor Michael Giarrusso.

Guttenfelder is TIME’s Instagram Photographer of the Year

David Guttenfelder, AP’s chief photographer in Asia, can add TIME magazine’s Instagram Photographer of the Year to the myriad accolades he’s received throughout his career.

In this January 15, 2013 photo taken with an iPod Touch and originally posted to Instagram from Pyongyang, a woman walks on a Pyongyang street in front of the pyramid-shaped 105-story Ryugyong Hotel, which North Korea began building in 1987 and it is yet to be complete. (AP Photo/David Guttenfelder)

In this January 15, 2013 photo taken with an iPod Touch and originally posted to Instagram from Pyongyang, a woman walks on a Pyongyang street in front of the pyramid-shaped 105-story Ryugyong Hotel, which North Korea began building in 1987 and it is yet to be complete. (AP Photo/David Guttenfelder)

Guttenfelder’s images snapped on Instagram, including many taken during his visits to North Korea, generated particular fascination in 2013. In fact, Guttenfelder’ work on Instagram was featured by media outlets ranging from the CBS Evening News to National Geographic to Mashable to Wired.

His Instagram feed has more than 235,000 followers. That’s a number that’s likely to grow with endorsements such as this one from WNYC radio, which tweeted: “PSA: Follow [David Guttenfelder] on Instagram, he’s posting amazing photos from North Korea. http://wny.cc/1bSzI4V  pic.twitter.com/Sx15rbVlzb.”

Working for the only western news organization with a full-time, multiformat bureau in Pyongyang, Guttenfelder has used his unprecedented access to bring a rare view of the reclusive country to the rest of the world, capturing what TIME called “striking, intimate pictures.”

“Nobody knows anything about [North Korea] and what it looks like,” Guttenfelder told TIME. “I feel like there’s a big opportunity and a big responsibility.”

Guttenfelder’s images are available via AP Images. Follow him on Instagram.

TIME names Muhammed Muheisen best wire photographer of 2013

Calling his work “indispensable for news outlets the world over,” TIME magazine today named Associated Press photographer Muhammed Muheisen the best wire photographer of 2013.

Pakistan's Chief Photographer Muhammed Muheisen shows Afghan refugee children how the camera works, in a poor neighborhood on the outskirts of Islamabad, Pakistan, Monday, Oct. 21, 2013. (AP Photo/Nathalie Bardou)

Pakistan’s Chief Photographer Muhammed Muheisen shows Afghan refugee children how the camera works, in a poor neighborhood on the outskirts of Islamabad, Pakistan, Monday, Oct. 21, 2013. (AP Photo/Nathalie Bardou)

Muheisen, who is based in Islamabad, has captured images of both daily life and of conflict in countries throughout the region. He’s won numerous awards throughout his career and was part of the team that earned the 2013 Pulitzer Prize for breaking news photography documenting the civil war in Syria.

“Viewers everywhere are richer for Muheisen’s compassion, his devotion to his craft and his unwavering, unblinking engagement with the lives and the issues around him,” TIME said.

The magazine also noted that his pictures have appeared more often than those from any other photographer this year in its LightBox “Pictures of the Week” feature.

TIME is not the only publication to highlight his tremendous work. New York Times “Lens” blog editor James Estrin recently tweeted that images by Muheisen had been featured 197 times.

“Muhammed is an extremely talented photographer who time after time manages to win the trust of his subjects in order to record scenes as though he were invisible,” said Santiago Lyon, AP vice president and director of photography. “His understanding and use of light is exquisite.”

TIME also noted the “outstanding work over the past 12 months” by AP photographers David Guttenfelder and Jerome Delay.

See a collection of Muheisen’s work on APImages.com, and watch him discuss his work in Syria.

Covering the monster typhoon

Associated Press journalists covering the aftermath of Typhoon Haiyan in the Philippines are now living and working in two locations – the meeting room in a hotel that was largely destroyed and a spot at Tacloban’s seaside airport  enclosed by a large party tent.

Ten days after the devastating storm blew through, Manila-based AP reporter Jim Gomez recounts the scene that he and colleagues first encountered:

An aerial image taken from a Philippine Air Force helicopter shows the devastation of the first landfall by typhoon Haiyan in Guiuan, Eastern Samar province, central Philippines Monday, Nov. 11, 2013. (AP Photo/Bullit Marquez)

An aerial image taken from a Philippine Air Force helicopter shows the devastation of the first landfall by typhoon Haiyan in Guiuan, Eastern Samar province, central Philippines Monday, Nov. 11, 2013. (AP Photo/Bullit Marquez)

Covering the horrific death and devastation wrought by Typhoon Haiyan in Tacloban, a lively central Philippine city of more than 200,000 people on Leyte island, southeast of Manila, was like reporting in a war zone.

Power, transport, fuel, food, water and telephones were snuffed out by one of the most ferocious storms on record.

In knocking out all forms of communications, Haiyan prevented news of the massive death toll and devastation from rapidly filtering out beyond the island. There was a fleeting mention  by a Manila aviation official of Tacloban’s airport being ruined by storm surges. The government put the overall death toll in the central Philippines at 3 or 4. Media outfits began speculating how the country was spared from serious damage despite the monster storm’s deadly profile.

However, the next morning, when the same aviation official told news organizations  that at least 100 people perished in Tacloban alone, AP staffers sprang into action. Video journalist Kiko Rosario and his  assistant, Vicente Gonzales; photographers Bullit Marquez and Aaron Favila and I rushed to the Villamor Air Base in Manila, where air force C-130 aircraft were taking off to transport the first  disaster-response teams and food packs to the battered city. Favila got to Villamor first, quickly looked for the manifest and listed our names – a crucial action since throngs of foreign and local journalists would converge later at the air base to fight for about a dozen seats allotted to media. All commercial flights were suspended.

After landing at Tacloban’s ruined airport,  Kiko, Bullit and Aaron quickly spread out to capture the first images of the devastation as night approached. They climbed to the top of the airport tower – its glass shattered – and took in flattened and devastated villages as far as their eyes could  see.

The airport parking lot was a muddy wasteland of upturned cars, cargo trolleys, aviation equipment and jagged tin roofs. Walking just a few blocks away, we saw bodies on roadsides, covered by tin roofs, sodden bedsheets and pieces of wood. Stunned survivors huddled together on sidewalks near corpses, covering their noses. They asked for food and water but we had none.

One lady said she was given biscuits by friends but would not eat them because she had no water. Beyond the road, she pointed to a clearing that I thought was a barren farm but turned out to be a crowded coastal village, where her house once stood, until a wall of water surged from the sea the morning the typhoon hit and swept away everything.

We  set up a makeshift office outside a low-slung, damaged building, where a few airport controllers and army troops temporarily operated. The building attracted journalists because it was the only structure in the entire airport with a light bulb on. A diesel generator supplied power. Connecting to the power line, the AP team sent out the first images and stories through laptops hooked to satellite phones.

Dinner was a piece of salty cracker topped with a small slice of sardines, courtesy of fellow journalists from another news outfit. Bed for me was a white plastic chair, in which  I tried to sleep. The stench of bodies stacked in a nearby chapel kept me awake all night.

Without car, fuel and information – the city government had virtually collapsed – it was hard to plan the next day’s  coverage. Photographers hiked  several kilometers to  town and hard-hit villages. Coordinating the movement of AP staff became a challenge without functioning telephones, so staffers were basically on their own, incommunicado, once they left our airport base. Many survivors later found their way through the airport’s broken perimeter fences and wandered near our workplaces, later competing for sleeping spaces.

There was no meal at all on the second day. Some air force personnel handed us a couple of  water bottles and later allowed us to use a hand-operated water pump that was dangerously located in the middle of a heap of sharp tin debris and rocks. We washed ourselves there.

The hardest moments were interviewing the survivors, who were  visibly traumatized. Many had missing loved ones, or they were struggling to care for injured or sick relatives and wanted to escape Tacloban but couldn’t. Most of the survivors I interviewed had not had a meal for days. Many waited in long lines outside the airport, hoping to get a flight out on military relief aircraft.

Once, while reading my notes to my colleague Todd Pitman, who was typing them in his laptop for transmission later to the Manila desk. I got overwhelmed and could not go on when I was describing how a father was embracing his kids and wife during a downpour on the tarmac. Huddled close together, I saw that they were all crying quietly. The wife and kids were to board a C-130 shortly and the father decided to stay home to guard their damaged home.

At another time we were interviewing a woman, who was with her children and other relatives. They had waited with the huge crowd for days but could not get seats in one of the outbound military planes amid the bedlam. She worried for her family and begged us for help, tears streaming down her face.