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Global Glance: GOP bill aimed at overhauling taxes; Qualcomm rejects Broadcom offer



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Here are today’s top business headlines from across the nation and world:

GOP bill aimed at overhauling taxes to get Trump push

WASHINGTON (AP) — As Republicans stake their claim to middle-class rescue in tax cut legislation deemed to carry tax hikes for millions, President Donald Trump plans an in-person appeal to lawmakers as the proposal faces a crucial vote in the House. Underscoring the sharp political stakes for Trump, who lacks a major legislative achievement after nearly 10 months in office, Trump will meet with House Republicans on Thursday ahead of an expected vote on the tax overhaul legislation. Read more

Qualcomm rejects Broadcom’s $103 billion offer

NEW YORK (AP) — Qualcomm rejected an unsolicited, $103 billion offer from Broadcom, saying that the proposal is significantly undervalued and that a tie-up between the massive chipmakers would face substantial regulatory resistance. Qualcomm said Monday that it’s in a unique position to grow on its own. Read more

US oil and gas ‘resurgence’ expected as global demand grows

LONDON (AP) — Oil will continue growing as a source of energy for over two decades, with the U.S. set to become the undisputed leader in crude and gas production, the International Energy Agency said Tuesday. The report from the Paris-based agency will come as grim news for officials attending global climate talks in Bonn, Germany, as they grapple with ways to contain carbon emissions. Scientists just this week said that emissions of the heat-trapping gas rose this year after three years of not growing. Read more

Trump heads home after ‘tremendously successful’ Asia trip

MANILA, Philippines (AP) — President Donald Trump headed for home Tuesday following an extensive tour of Asia that he said had been “tremendously successful” and had put the world on notice that the “rules have changed” for countries that want to trade with the U.S. Trump also teased a “major statement” on trade and the trip later this week at the White House, where he is expected to promote congressional Republicans’ plan to overhaul the nation’s tax code. Read more

Amazon or Walmart? Some retailers are choosing alliances

NEW YORK (AP) — Store chains feeling the upheaval in retail are making strategic alliances — and that can mean picking sides. Kohl’s shoppers can find Amazon devices at some stores, and return items they bought from the online retailer. Nike has made some of its sneakers available through Amazon. The owner of Sears is selling Kenmore-branded appliances on Amazon in some markets. And Best Buy is teaming up with Amazon for voice shopping. Read more

Wineries eager to make up losses after California wildfires

NAPA, Calif. (AP) — A month after deadly wildfires swept through California’s famed wine country, hot-air balloons are floating again over Napa Valley vineyards splashed with fall colors. On the heels of the disaster, a new winery is opening, keeping the name it chose some time ago: Ashes and Diamonds. The fires had only a minimal effect on the area’s wineries, according to the Wine Institute, an advocacy and policy group. Of the 1,200 wineries in Sonoma, Napa and Mendocino, about 10 were destroyed or heavily damaged, and 90 percent of this year’s harvest already was complete, the institute said. Read more

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