Aren't adverbs related to the closest word? Does nightly in nightly business report refer to business?
I am still confused.
Is relation of non-adverb modifiers different from that of adjective?
In First Certificate Language Practice by Michael Vince the "first" is related to the nearest modified word (without dephis application)
I am not interested in specific case of "Nightly Business Reports" (only), I'd like to understand a rule/pattern with possible exceptions in order to reuse it in my writing.