Global Glance: Trump revamps economic plan, Hulu drops free video

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

Trump tries to right his campaign, talking of tax cuts

DETROIT (AP) — Donald Trump announced a revamped economic plan Monday aimed at revitalizing a stagnant U.S. economy by cutting taxes for workers and businesses. With few exceptions, however, he provided more of a philosophical basis for an economic plan than a series of specifics. He proposed a simplified three-bracket income tax system that hewed closely to what House Republicans have recommended, the latest indication the GOP presidential nominee is working to put infighting with his party’s leaders behind him. In a shift from the plan he proposed during the primary season, he increased the tax rate that the highest-earning Americans would pay. The Associated Press did a fact check of his speech. Read more

Delta cancels nearly 250 flights Tuesday morning

DALLAS (AP) — Delta’s travails, and those of its customers, move into day two with the airline canceling nearly 250 flights. The cancellations Tuesday follow about 1,000 cancelled flights Monday and almost 3,000 delayed flights after an outage at its Atlanta headquarters initiated a global meltdown of its booking and communications systems. The airline was back online after a number of hours Monday, but the outages were so widespread that it is still dealing with the ripple effects a day later. Read more

Hulu dropping free video as it prepares cable TV alternative

NEW YORK (AP) — Hulu is dropping the free TV episodes that it was initially known for as it works on an online television service to rival cable TV. Free episodes – typically the most recent four or five episodes from a show’s current season – will be gone from the site within a few weeks. Instead, Hulu is making free episodes available through Yahoo. While Hulu started as a free site, supported by advertising, free video has become increasingly more difficult to find as Hulu tries to lure viewers into a subscription – $8 a month for a plan with ads, and $12 without. In recent months, visitors to Hulu.com have been presented with prominent links to subscribe, with links to free video buried in a menu after signing in. Read more

‘Tonight Show,’ ‘SNL’ coming to Snapchat under deal with NBC

NEW YORK (AP) — NBCUniversal has agreed to make customized episodes of “The Tonight Show,” ”Saturday Night Live” and several other shows for Snapchat under a multiyear deal between the broadcast network and social media app. NBC says episodes of “The Voice” and “E! News” from E! Entertainment Television, which is owned by NBCUniversal, will be the first of its programs to be shown on the Snapchat Discover platform. Those shows will be followed by original episodes of “Saturday Night Live” and Jimmy Fallon’s “Tonight Show.” In return, NBC plans to develop and sell advertising packages that include Snapchat as part of the deal. Read more

Lawsuit over audits seeks $5B from PricewaterhouseCoopers

MIAMI (AP) — Accounting giant PricewaterhouseCoopers is squaring off in a Miami courtroom with lawyers for a defunct mortgage company over a $5.5 billion lawsuit involving audits at a failed Alabama bank. The lawsuit contends PricewaterhouseCoopers should have detected massive fraud at Colonial Bank of Montgomery, Alabama, that was orchestrated by top executives at shuttered mortgage firm Taylor, Bean and Whitaker. Several of the mortgage firm’s executives were convicted of crimes in the fraud scheme. Colonial was shut down in 2009. The lawsuit contends PricewaterhouseCoopers is liable for losses because its audits missed evidence of fraud at Colonial. The Big Four firm contends it did its job and that criminal fraud is designed to avoid detection. Read more

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