Global Glance: Verizon buys Yahoo, U.S. airlines booming

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

Verizon buys Yahoo for $4.83 billion, marking end of an era

SAN FRANCISCO (AP) — Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the internet. It is the second time in as many years that Verizon has snapped up the remnants of a fallen internet star as it broadens its digital reach. The nation’s largest wireless carrier paid $4.4 billion for AOL last year. Read more


G-20 countries pledge to protect against Brexit shock

BEIJING (AP) — Global finance officials promised Sunday to protect the world economy from the shockwaves of Britain’s European Union referendum and to boost sluggish growth. Envoys of the Group of 20 major economies also rejected trade protectionism, an issue that has risen in prominence as U.S. Republican presidential candidate Donald Trump stirs unease with talk about restricting access to American markets. Read more


Boom times for big U.S. airlines: $3.9 billion in 2Q profits

FORT WORTH, Texas (AP) — Compared with their checkered track record, major airlines are enjoying boom times. Planes are full, and jet fuel is still much cheaper than it was last year. The four biggest U.S. carriers just reported a collective second-quarter profit of $3.9 billion. And yet investors seem to be looking past the bottom line. They have become obsessed with fare prices – falling now for more than a year – that may foreshadow thinner profits in the future. Read more


China imposes anti-dumping duties on Japan, Korean, EU steel

BEIJING (AP) — China’s Ministry of Commerce says it has imposed anti-dumping duties on steel imports from Japan, South Korea and the European Union. The ministry said on its website Sunday that imports of grain-oriented electrical steel will be charged duties ranging from 37.3 percent to 46.3 percent. Such steel is used in the manufacture of large generators and electricity transformers. Read more


Ericsson CEO steps down amid tightened competition

HELSINKI (AP) — Hans Vestberg has stepped down as CEO and president of telecoms company Ericsson as the company struggles to improve earnings amid tightening competition. The Swedish wireless equipment maker says that Vestberg is leaving all assignments “with immediate effect” and will be temporarily replaced by CFO Jan Frykhammer until a replacement is found. Vestberg, who worked for the company for 28 years, had been CEO for more than six years. Read more


Ryanair to shift growth focus from UK following EU exit vote

DUBLIN (AP) — Ryanair says it will reduce winter services at its main London hub and focus on other European bases because of weakened British growth and consumer sentiment following Britain’s vote to leave the EU. Chief Executive Michael O’Leary made the announcement Monday alongside Ryanair’s first-quarter earnings, which underscored the airline’s leading position among European carriers for profits and growth. Read more


Pokemon Go players stumble on hidden history

PROVIDENCE, R.I. (AP) — Historical markers have long dotted the landscape, often barely noticed by passers-by – until they became treasure-filled stops this month on the “Pokemon Go” trail. Players hunting for fictional creatures on their smartphones are now visiting real-life memorial plaques, statues, mosaics and landmarks, ranging from a Civil War battlefield in Chancellorsville, Virginia, to a Hells Angels clubhouse on New Zealand’s North Island. Read more


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