Global Glance: Brexit vote, IMF downgrade

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

Markets, bookies put money on Britons remaining in EU

LONDON (AP) — Financial markets and bookmakers put their money on Britain’s voting to remain a part of the European Union on Thursday in a historic referendum that threatens to undermine the experiment in continental unity launched in the aftermath of World War II. More than 46 million people were registered to vote in the referendum, which asks: “Should the United Kingdom remain a member of the European Union or leave the European Union?”


IMF downgrades outlook for U.S. economy

WASHINGTON (AP) — The International Monetary Fund downgraded its forecast for the U.S. economy this year and said America should raise the minimum wage to help the poor, offer paid maternity leave to encourage more women to work and overhaul the corporate tax system to boost productivity. In its annual checkup of the U.S. economy, the IMF on Wednesday predicted 2.2 percent U.S. growth this year, down from 2.4 percent in 2015.


Panama Canal to open amid shipping downturn

PANAMA CITY (AP) — The $5.25 billion expansion of the Panama canal is set to open Sunday at a difficult moment for the international commercial shipping market. The drop in world oil prices, an economic slowdown in China and other factors have been affecting the canal’s traffic and income.


Trustees: Tiny rise in Social Security benefits next year

WASHINGTON (AP) — Millions of Social Security beneficiaries would get a tiny increase in monthly payments next year – less than $2.50, about enough to buy a gallon of gas. Meanwhile, Medicare is expected to go bankrupt sooner than expected – 12 years from now. And some beneficiaries could face higher monthly premiums next year.


Yellen faces GOP criticism over weak economic growth

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen came under fire Wednesday from House Republicans who charged that the central bank’s policies to promote low interest rates have not boosted economic growth and have left financial markets confused about the Fed’s next moves.


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