Global Glance: Clinton, Trump produce conventional tax proposals, Ford promises autonomous car

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

Conventional tax proposals in an unconventional US campaign

WASHINGTON (AP) — In this unconventional campaign season, Donald Trump and Hillary Clinton have produced two conventional tax plans that mostly track their parties’ long-standing views. Trump is pushing a plan squarely in the GOP tradition of sharp tax cuts for individuals and businesses, which most analyses conclude would largely benefit wealthier Americans. That’s in contrast with other issues such as international trade, where he has jettisoned decades of GOP orthodoxy and taken a more populist stance. Clinton, meanwhile, is proposing to raise taxes for the wealthiest households to pay for traditional Democratic proposals such as expanding access to higher education. Read more

Ford says it will have a fully autonomous car by 2021

DETROIT (AP) — Ford Motor Co. intends to have a fully driverless vehicle – no steering wheel, no pedals – on the road within five years. The car will initially be used for commercial ride-hailing or ride-sharing services; sales to consumers will come later. Ford CEO Mark Fields announced the new goal Tuesday at the company’s Silicon Valley campus in Palo Alto, California. Ford’s approach to the autonomous car breaks from many other companies, like Mercedes-Benz and Tesla Motors, which plan to gradually add self-driving capability to traditional cars. Instead, Ford is taking the same approach as Google, which supports moving directly to self-driving cars once the technology is perfected. Read more

Administration OKs new fuel-efficiency standards for trucks

WASHINGTON (AP) — The Obama administration says it’s continuing to address global warming by adopting previously announced standards to make large trucks, buses and other heavy-duty vehicles more fuel efficient. These vehicles account for more than one-fifth of transportation-related fuel consumption and the emission of greenhouse gases that are blamed for harming the environment. The Environmental Protection Agency and the Transportation Department say the standards will cut carbon pollution, save vehicle owners billions of dollars in fuel costs and conserve tens of billions of gallons of oil. Read more

Gawker sold to Univision in aftermath of Hulk Hogan case

NEW YORK (AP) — Spanish-language broadcaster Univision won an auction Tuesday for Gawker Media, which was put on the block in the aftermath of a $140 million judgment against it in the Hulk Hogan invasion-of-privacy case. Univision is paying $135 million for the online gossip and news publisher, according to a person familiar with the matter who asked not to be identified because the deal had not been formally announced. Expanding from its Spanish-language base, Univision has been investing in media properties aimed at young people. Univision outbid Ziff Davis, the owner of tech and gaming sites, in the auction for Gawker Media. Read more

Hedge-fund manager Cohen settles with US commodities agency

WASHINGTON (AP) — Billionaire hedge-fund manager Steven A. Cohen, who was earlier accused of failing to prevent insider trading at his firm, has agreed in a settlement with the government not to engage in any activities overseen by federal commodities regulators until at least Dec. 31, 2017. The settlement announced Tuesday by the Commodity Futures Trading Commission follows on the action brought against Cohen by the Securities and Exchange Commission over insider trading at his firm, formerly called SAC Capital Advisors. In an agreement with the SEC in January, Cohen was barred for two years from managing other people’s money. He wasn’t fined under the agreement, and neither admitted nor denied the SEC’s allegations. Read more

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