Global Glance: Court upholds net neutrality, Fed likely to keep rates steady

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

Court upholds net neutrality rules on equal internet access

WASHINGTON (AP) — In a big win for the Obama administration, a federal appeals court on Tuesday upheld the government’s “net neutrality” rules that require internet providers to treat all web traffic equally. The 2-1 ruling from the U.S. Court of Appeals for the District of Columbia Circuit is a victory for consumer groups and content companies such as Netflix that want to prevent online content from being blocked or channeled into fast and slow lanes. Read more

Smart money is looking to bookies to guess UK vote

LONDON (AP) — To gauge whether Britain will vote to leave the European Union, the smart money is looking to the bookies. After polls missed badly in measuring sentiment before some of Britain’s most recent votes, bookies’ odds have become the point of reference for anyone trying to guess the outcome of the June 23 referendum on the country’s EU membership. Read more

Fed likely to keep rates steady as investors seek hints

WASHINGTON (AP) — With the Federal Reserve considered sure to leave interest rates alone when it ends a meeting Wednesday, Fed watchers will be seeking clues to the timing of future moves. For weeks, the Fed had been expected to consider raising rates at its June meeting. But this month, the government caught the financial world off guard when it said employers added just 38,000 jobs in May- the weakest gain in five years. Read more

Report: New evidence of rising ‘Obamacare’ premiums

WASHINGTON (AP) — Premiums for popular low-cost medical plans under the federal health care law are expected to go up an average of 11 percent next year, said a study that reinforced reports of sharp increases around the country in election season. For consumers, the impact will depend on whether they get government subsidies for their premiums, as well as on their own willingness to switch plans to keep the increases more manageable, said the analysis released Wednesday by the nonpartisan Kaiser Family Foundation. Read more

Coffee no longer deemed possible carcinogen

LONDON (AP) — The World Health Organization’s research arm has downgraded its classification of coffee as a possible carcinogen, declaring there isn’t enough proof to show a link to cancer. But the International Agency for Research on Cancer, or IARC, also announced in a report published on Wednesday that drinking “very hot” beverages of any kind could potentially raise the cancer risk, and it classified them as “probably carcinogenic” to humans. Read more

UK treasury chief warns of tax rises in case of EU exit

LONDON (AP) — Britain’s Treasury chief has warned that taxes will rise and spending will be cut in the event that voters choose to leave the European Union in a referendum on June 23. George Osborne says he will have to act to avert chaos and fill a 30 billion pound ($42.4 billion) budget “black hole” that government ministers say will emerge if Britain leaves the EU. He argued that income and inheritance taxes would rise. Read more

Japan’s Uniqlo targets global stature with fashion identity

TOKYO (AP) — Japanese clothing chain Uniqlo has leveraged its prowess in mass production to build a fashion empire filled with shelves upon shelves of affordable, good quality items like down jackets, underwear and T-shirts. Now the 17-nation, 1,734-store retailer is on a quest to beat Western giants like Gap, H&M and Zara to become the world’s biggest apparel maker. Read more

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