AP announces expanded business news service

NEW YORK (AP) - The Associated Press announced April 19 the introduction of a new service called AP Financial News that will extend the breadth and depth of AP's business coverage of top companies and financial markets around the world. 

The expanded service will be offered to online services and Internet portals, as well as to newspapers, broadcasters and their Web sites. It is scheduled to launch June 1. 

"AP Financial News will serve a public that is becoming more sophisticated in its understanding of business and investments, and more interested in timely, accurate and clear reports on the latest financial developments," said Tom Curley, AP president and chief executive officer. 

The AP also announced that the first customer for the service will be Yahoo! Inc., which plans to offer the expanded news primarily within its Yahoo! Finance and Yahoo! News properties. 

"Consumers consistently turn to Yahoo! for best-in-breed business and financial news," said Craig Forman, vice president and general manager of Information and Finance, Yahoo!. "As we are always working to enhance our news offerings, the Financial News service from the Associated Press is a natural and beneficial addition." 

AP Financial News will go beyond the top stories of the day to include more quarterly earnings announcements, executive changes, regulatory actions, acquisitions and new product developments for major companies in a full range of industries. In addition, AP will expand its coverage of financial markets in the United States and abroad. 

A new team of financial reporters, led by veteran business journalist Ann Sommerlath and reporting to AP Business Editor Kevin Noblet, will produce the report. 

"This is an important expansion of AP's business coverage, particularly for online readers who want to know about company and financial market developments right away," said AP Executive Editor Kathleen Carroll. "AP Financial News coverage will be fast and accurate and written for the average reader."