Global Glance: EU to extend investment plan; Wells Fargo cutting sales goals

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

EU to extend investment plan until 2022 to boost growth

BRUSSELS (AP) — The European Union is extending its investment plan for a further three years in order to boost growth and employment. EU Commission President Jean-Claude Juncker said Wednesday that he’s aiming to generate 630 billion euros ($707 billion) worth of public and private investment by 2022. The initial aim of the Investment Plan for Europe, which was first announced last year, was to mobilize 315 billion euros over three years. Read more


Wells Fargo cutting sales goals in wake of hefty fine

NEW YORK (AP) — Wells Fargo is cutting its aggressive product sales goals for retail bankers, the bank announced Tuesday after state and federal regulators fined it $185 million last week for allegedly opening millions of unauthorized accounts to meet those targets. The product sales goals will be eliminated by Jan. 1, the San Francisco-based bank said in a brief statement. Regulators said in announcing the fine that Wells Fargo sales staff opened more than 2 million bank and credit card accounts that customers may not have authorized, and money in their accounts was transferred to the new accounts without authorization. Debit cards were issued and activated, as well as PINs created, without telling customers. Read more


Uber gives riders a preview of the driverless future

PITTSBURGH (AP) — Uber riders in Pittsburgh can get a glimpse of the future by summoning a car capable of handling most of the tasks of driving on its own. Starting Wednesday morning, a fleet of self-driving Ford Fusions will pick up Uber riders who opted to participate in a test program. While the vehicles are loaded with features that allow them to navigate on their own, an Uber engineer will sit in the driver’s seat and seize control if things go awry. Uber’s test program is the latest move in an increasingly heated race between tech companies in Silicon Valley and traditional automakers to perfect fully driverless cars for regular people. Read more


British unemployment falls again despite Brexit vote

LONDON (AP) — Britain’s vote in June to leave the European Union did not have too much of an impact on the labor market in the first month after the decision, official figures showed Wednesday. In the three-month period through July, the number of unemployed was 1.63 million, 39,000 lower than the previous period. The unemployment rate held steady at 4.9 percent. Overall, the Office for National Statistics said there were 174,000 more people employed, with the employment rate at a record 74.5 percent. Read more


China vows to cut aluminum output, but producers plan growth

BEIJING (AP) — China’s leaders are promising to rein in aluminum production that is flooding global markets and threatening jobs in the United States and Europe, but its producers have ambitious plans to expand. The glut has cut costs for Western buyers of aluminum used to make lighter cars and aircraft. Prices have fallen so low, though, that U.S. and European smelters are closing, prompting demands for trade penalties. Read more


Poll: Americans favor slightly higher bills to fight warming

WASHINGTON (AP) — Most Americans are willing to pay a little more each month to fight global warming – but only a tiny bit, according to a new poll. Still, environmental policy experts hail that as a hopeful sign. Seventy-one percent want the federal government to do something about global warming, including 6 percent who think the government should act even though they are not sure that climate change is happening, according to a poll conducted by The Associated Press-NORC Center for Public Affairs Research and the Energy Policy Institute at the University of Chicago. Read more


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