Global Glance: Liberty Media buying Formula One; Apple betting on wireless world

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

US firm Liberty Media buying Formula One auto racing series

LONDON (AP) — Formula One is being bought by Liberty Media, a U.S. company that invests in entertainment and sports, for $4.4 billion. Liberty Media Corp., which is controlled by 75-year-old tycoon John Malone, has ended years of uncertainty about the ownership of the auto racing series with Wednesday’s deal. There will be continuity, with Bernie Ecclestone remaining the chief executive officer of F1. But the 85-year-old Ecclestone will have to work under a new chairman: Chase Carey, the executive vice chairman of Rupert Murdoch’s entertainment conglomerate 21st Century Fox. Read more

Apple is betting big on a wireless world

SAN FRANCISCO (AP) — Apple wants to push consumers further into a wireless world. Its tactics: Eliminate the standard headphone jack in its newest iPhones and market new “AirPods” – tiny wireless earbuds that the company claims greatly improve on standard Bluetooth technology. But that strategy has some risks. Read more

European Central Bank holds off on more stimulus

FRANKFURT, Germany (AP) — The European Central Bank left its key interest rates on hold Thursday and decided against extending the duration of its existing bond-buying stimulus program as it monitors the impact it is having on the economy. Investors are now waiting to hear what ECB President Mario Draghi says at a post-decision news conference for hints about any further stimulus measures in coming months. The central bank faces stubbornly low annual inflation of only 0.2 percent despite pumping 1 trillion euros ($1.1 trillion) in newly printed money into the banking system through bond purchases since March, 2015. The purchases, made at a rate of 80 billion euros a month, are set to continue at least through March, 2017 or until inflation convincingly picks up. Read more

California to extend most ambitious US climate change law

LOS ANGELES (AP) — California Gov. Jerry Brown is set to extend the nation’s most ambitious climate change law by another 10 years, charting a new goal to reduce carbon pollution. The legislation is a priority for Brown. It expands on California’s landmark 2006 law, which set the goal of reducing greenhouse-gas emissions to 1990 levels by 2020. Read more

Hawaiian seafood caught by foreign crews confined on boats

HONOLULU (AP) — Few locals, let alone passing tourists, are aware that just behind a guarded gate at Honolulu’s Pier 17, another world exists: foreign fishermen confined to American boats for years at a time. Hundreds of undocumented men are employed in this unique U.S. fishing fleet, due to a federal loophole that allows them to work but exempts them from most basic labor protections. Many come from impoverished Southeast Asian and Pacific nations to take the dangerous jobs, which can pay as little as 70 cents an hour. With no legal standing on U.S. soil, the men are at the mercy of their American captains on American-flagged, American-owned vessels, catching prized swordfish and ahi tuna. The entire system, which contradicts other state and federal laws, operates with the blessing of high-ranking U.S. lawmakers and officials, an Associated Press investigation found. Read more

Clinton backs bill to protect benefits for ex-coal miners

WASHINGTON (AP) — Hillary Clinton is supporting a bill that would protect health-care and pension benefits for about 120,000 former coal miners and their families, an issue that has divided Senate Republicans. Coal miners who have put their own health and safety at risk to provide the nation with affordable, reliable energy “are entitled to the benefits they have earned and the respect they deserve,” said Clinton, who has faced a backlash from coal communities after she declared earlier this year that she was going to “to put a lot of coal miners and coal companies out of business.” Read more

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