Global Glance: Global trade slows; Trump, Clinton deny their own words

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

‘Dramatic slowing’ seen in global trade, as rhetoric rises

GENEVA (AP) — The World Trade Organization dramatically slashed its forecast for trade growth this year by about a third to its lowest rate since 2009, when the global economy was mired in recession in the wake of the financial crisis. In an update to its forecasts Tuesday, the world’s leading trade body said the groundswell in anti-globalization sentiment could make matters worse, especially if policymakers respond to that in a “misguided” manner. The Geneva-based WTO, perhaps best known for dealing with trade disputes, predicted that global trade will rise only 1.7 percent this year, way down from its April prediction for 2.8 percent. Read more


AP fact check: Trump, Clinton deny their own words in debate

WASHINGTON (AP) — Donald Trump’s habit of peddling hype and fabrication emerged unabated in the first presidential debate while Hillary Clinton played it cautiously in her statements, though not without error. They both denied making statements that they are on the record as saying. Read more


Password breach could have ripple effects well beyond Yahoo

LONDON (AP) — As investors and investigators weigh the damage of Yahoo’s massive breach to the internet icon, information security experts worry that the record-breaking haul of password data could be used to open locks up and down the web. While it’s unknown to what extent the stolen data has been or will be circulating, giant breaches can send ripples of insecurity across the internet. A big worry is a cybercriminal technique known as “credential stuffing,” which works by throwing leaked username and password combinations at a series of websites in an effort to break in, a bit like a thief finding a ring of keys in an apartment lobby and trying them, one after the other, in every door in the building. Read more


Will boom in loans at retailers, manufacturers turn to bust?

NEW YORK (AP) — They sell diamond rings in malls and used cars at dealerships, make wrench sets for mechanics and giant combines for farmers. Not one has “bank” in its name, but they are all big lenders, and getting bigger by the day. If you’re wondering how companies can get people to buy things when wages have been barely rising, check out the financial statements of some of the nation’s retailers and manufacturers. Money lent out at Signet Jewelers, CarMax and tool maker Snap-on has jumped more than 50 percent in four years at each of these companies, 2.5 times the growth of loans at banks. Read more


‘Pokemon Go’ fervor has cooled, but the game isn’t dead yet

NEW YORK (AP) — Does “Pokemon Go” have a second act? The mobile phone app was an instant hit when it debuted in July. Crowds stampeded after a Vaporeon in Central Park and people fell off cliffs playing it in California. At an Apple event on Sept. 7, Niantic CEO John Hanke said 500 million people had downloaded the game in just two months. It was the first mobile game to go mainstream in a big way since “Candy Crush” in 2014 or “Angry Birds” in 2012. It was also the first to incorporate augmented reality, a blending of the real and virtual worlds. Read more


New car mileage estimates drop as EPA changes test formula

DETROIT (AP) — Highway gas mileage estimates for about one-third of all new vehicles sold in the U.S. will fall by one mile per gallon because the government has changed the way it calculates the numbers on the window sticker. The change, which begins with the 2017 model year, comes largely because people are loading up cars with more options such as heated seats that use electricity and create drag on engines. They’re also running air conditioning more than in the past, and they’re driving faster, both of which cut into mileage. Read more


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