Global Glance: Dutch bank ING to slash jobs, cut branches; Britain will launch Brexit by April

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

Dutch bank ING to slash 7,000 jobs, close branches

BRUSSELS (AP) — Dutch banking group ING said Monday that it is slashing 7,000 jobs in Belgium and the Netherlands as the company focuses on online services in the face of growing competition. ING said in a statement that some 3,500 full-time jobs would disappear in Belgium by 2021 and 2,300 in the Netherlands. Almost 1,000 jobs would be lost among ING’s external suppliers. Read more

Britain will launch Brexit by April, prime minister says

LONDON (AP) — Britain will begin the formal process of leaving the European Union by the end of March, Prime Minister Theresa May said Sunday, seeking to ease concern about the nation’s future and the threat of reduced foreign investment and the weakening of the economy. Members of the ruling Conservative Party applauded wildly as May said the British people had made it clear that they wanted a clear date for exiting the EU and that she was going to deliver. Read more

Volkswagen reaches $1.2 billion settlement with dealers in scandal

SAN FRANCISCO (AP) — Volkswagen has agreed to pay its U.S. dealers up to $1.2 billion to compensate them for losses they said they suffered as a result of the company’s emissions cheating scandal, according to a settlement agreement filed Friday in federal court in San Francisco. Under the terms of the deal, dealers can choose to opt out and pursue their own lawsuits against Volkswagen. A judge still has to approve the settlement before it can go into effect. Read more

A year of Alphabet: Great for Google, less so for moonshots

SAN FRANCISCO (AP) — Reorganizing itself under the umbrella company Alphabet has done wonders for Google – but less so for a grab bag of eclectic projects ranging from robotic cars to internet-beaming balloons, which are suffering costly growing pains. A year after Alphabet took shape, Google’s revenue growth has accelerated – an unusual development for a company of its size. That success, however, also underscores Alphabet’s dependence on the fickle business of placing digital ads in core Google products like search, Gmail and YouTube video. Read more

Why it Matters: Taxes

WASHINGTON (AP) — Politicians love trying to use the tax code to highlight their goals to voters. This year, it’s a battlefield between Hillary Clinton, who wants to boost levies on the rich to pay for expanding social programs and Donald Trump, who says cutting taxes would gird the economy. The clash has consequences for the rich, poor and those in the middle. Read more

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