Global Glance: Penney to expand major appliances, FDA to reevaluate ‘healthy’

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

Panama Papers offshore companies data spurs anti-graft moves

TOKYO (AP) — The latest release of the names of thousands of offshore companies and other financial data of the rich and powerful is spurring renewed calls to counter corruption and tax evasion. Japan’s government spokesman said Tuesday that Tokyo plans to propose an action plan for combating graft at the summit of the Group of Seven rich industrial economies that will be held later this month in Ise, Japan. Read more

Penney to expand major appliances to half its stores

NEW YORK (AP) — J.C. Penney says it will start to sell major appliances online and expand its rollout of the category to nearly 500 stores, or almost half of its stores, this summer. The move comes after a successful test of offering major appliances such as washing machines and refrigerators in 22 markets in February. Penney got out of the major appliance business more than 30 years ago. Read more

British exit risk casts shadow over EU’s economic hopes

LONDON (AP) — Half a century ago, French President Charles de Gaulle twice vetoed Britain from joining what was then the European Economic Community, warning that the country’s “fundamental hostility” to economic integration could sabotage the bloc. In six weeks, the British could be fulfilling that prediction when they vote on whether to leave the European Union, a move that would be the biggest reverse in the bloc’s near 60-year existence and a threat to its economy. Read more

FDA to reevaluate definition of ‘healthy’

NEW YORK (AP) — The Food and Drug Administration will reevaluate its definition of “healthy,” which could upend how a range of foods are marketed. An FDA spokeswoman said in an email that the agency plans to solicit public comment on the matter in the near future. Read more

Small-car deals abound as US buyers go crazy for SUVs

DETROIT (AP) –With many Americans rushing to buy trucks and SUVs, there are good deals to be had on cars, especially smaller models. In April, supplies of small cars on dealer lots grew to the highest level in seven years. Automakers are resorting to discounts and sweetened lease deals to move the metal – especially with models that haven’t been updated in a few years. Read more

Treasury Secretary Lew says time is now to help Puerto Rico

SAN JUAN, Puerto Rico (AP) — As Congress debates how to help Puerto Rico with its $70 billion debt, Treasury Secretary Jacob Lew is trying to prod lawmakers into action with stories of crumbling infrastructure on the island and a lack of basic services. Read more

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