Global Glance: GE announces deals with Saudi Arabia, Tribune rejects second Gannett bid

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

GE announces deals worth over $1.4 billion with Saudi Arabia

DUBAI, United Arab Emirates (AP) — General Electric Co. said Monday it made a series of deals with Saudi Arabia worth over $1.4 billion as part of the kingdom’s ambitious plan to wean itself off crude oil. Read more

Tribune rejects second Gannett bid, sets the stage for talks

NEW YORK (AP) — Tribune Publishing rejected a second takeover bid from USA Today owner Gannett, but did say Monday that it was open to further talks. Gannett last week raised its per-share bid for the owner of the Los Angeles Times, Chicago Tribune and other newspapers to $15, from $12.25. Read more

Eurozone survey points to faltering economic growth in May

LONDON (AP) — Economic growth across the 19-country eurozone is showing further signs of faltering following a strong start to the year. A closely monitored survey of business activity shows that output growth in May slowed to its weakest rate since early 2015. Read more

Fuel blockades lead to shortages in Paris, police action

FOS-SUR-MER, France (AP) — Behind a barricade of flaming tires, striking workers in front of the Fos-sur-Mer oil refinery are standing firm, playing the accordion – and slowly draining France of its fuel. The union-led blockade, one of several set up at refineries and depots across France, is aimed at securing the withdrawal of the country’s labor reforms, which hopes to inject new life into the country’s rigid labor market. Read more

US rig count drops to 404, another all-time low

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped by two last week to 404, another all-time low amid low energy prices. A year ago, 885 rigs were active. Read more

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