Global Glance: Finance leaders seek to reassure on global economy, Drought in central India wreaks havoc

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

G-7 finance leaders seek to reassure on global economy

AKIU, Japan (AP) — Finance leaders of major industrial countries meeting in Japan need to find ways to use all the “policy levers” they have to help counter anxiety over global economic prospects, U.S. Treasury Secretary Jacob Lew said Friday, in remarks echoed by his Japanese hosts. The consensus was that while there is no one-size-fits-all approach, all economies are facing a stifling lack of demand, and the private sector must play a pivotal role in helping spur growth. Read more


Crippling drought in central India leaves millions on the brink

DEVADI VILLAGE, India (AP) — Dry wells, shriveled stubble of sugarcane fields and withered fruit trees across the parched Marathwada region reflect the suffering of hundreds of millions of Indians across more than a dozen states that are under the grips of a severe drought. Monsoon showers, which normally run from June to September, are crucial in a country where 60 percent of the population works in agriculture and less than half the farmland is irrigated. Read more


Uber testing self-driving car in Pittsburgh

DETROIT (AP) — Uber is testing a self-driving car on public streets in Pittsburgh. The ride-hailing company says it has outfitted a Ford Fusion hybrid with radars, laser scanners and high-resolution cameras. It’s using the car to test self-driving capability and collect mapping data. Read more


Gap closing 75 stores outside North America amid sales slump

NEW YORK (AP) — Gap Inc. said Thursday that it is shuttering 75 Old Navy and Banana Republic stores outside North America as the struggling company looks to focus on regions where it sees it has the greatest potential for success. Read more


The great road trip returns this summer thanks to cheap gas

NEW YORK (AP) — Cheap fuel prices have left many American families flush with spare cash, which they now plan to spend on vacations. And with summertime gas prices predicted to be the lowest in 13 years, the travel industry is looking forward to a blockbuster July and August. Read more


New poll shows strong support for paid family leave programs

CHICAGO (AP) — Time off from work to care for a child or relative is codified in federal law. Now, an overwhelming majority of Americans 40 and older want that time away from the job to be paid. Read more


Scandal-hit VW agrees to 4.8 percent pay increase for workers

FRANKFURT, Germany (AP) — Automaker Volkswagen and Germany’s industrial union have agreed to increase wages 4.8 percent by next year in an economy where the cost of living is flat – the kind of raises that could help the 19-country eurozone lift inflation from dangerously low levels. Read more

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