Global Glance: European Central Bank keeps stimulus program ready; US economy grows

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

AP Fact Check: Clinton, Trump and their debate claims

WASHINGTON (AP) — Donald Trump painted an inaccurately dark portrait of manufacturing in America while Hillary Clinton stretched credulity in boasting that her spending plans won’t add to the country’s debt. As well, both struggled in the presidential final debate to explain comments from their past. Read more

Saudi Arabia offers first global bonds in economic overhaul

RIYADH, Saudi Arabia (AP) — Saudi Arabia says it has offered its first global bonds as part of an economic push to diversify its economy. The Saudi Finance Ministry said early Thursday it offered $5.17 billion in bonds as part of its first offering. It said the total subscription requests for the bonds reached $67 billion. In total, the bond sale is expected to be worth $17.5 billion, a massive amount compared to other recent international offerings for traders. Read more

European Central Bank keeps stimulus program ready

FRANKFURT, Germany (AP) — The European Central Bank left its key interest rates and its bond-buying stimulus program unchanged on Thursday as it seeks more data on the strength of Europe’s modest economic recovery. The decision came at a meeting of the bank’s 25-member governing council at its headquarters in Frankfurt, Germany. The chief monetary authority for the 19 countries that use the euro currency left its refinancing rate for lending to banks at zero and the rate on bank deposits at minus 0.4 percent. Read more

US economy grows a but faster in September, Fed says

WASHINGTON (AP) — U.S. economic growth picked up a bit as summer ended and fall began, supported by modest hiring, an uptick in consumer spending, and steady homebuilding, according to the Federal Reserve. The Fed’s “Beige Book” survey of economic conditions in its 12 regional bank districts, released Wednesday, found that growth was modest or moderate in eight districts, slight in three, and flat in the New York district. That’s an improvement from its September survey, which found that growth weakened in two districts and was unchanged in two. Read more

California attorney general leads criminal probe of Wells Fargo

SACRAMENTO, Calif. (AP) — California’s attorney general is conducting a criminal investigation into whether employees at San Francisco-based Wells Fargo bank stole customers’ identities in the sales practices scandal that rocked the bank and cost its CEO his job, documents released Wednesday show. A search warrant and supporting affidavit released by the state Department of Justice show that agents sought evidence related to allegations that bank employees created up to 2 million bank and credit card accounts without customers’ approval in order to meet sales goals. Read more


Nissan-Renault CEO Ghosn to chair troubled Mitsubishi Motors

TOKYO (AP) — Carlos Ghosn, who heads Japan’s Nissan Motor and Renault of France, will become chairman of Mitsubishi Motors, working to restore faith in the troubled automaker after a devastating mileage scandal. Ghosn, who presided over Nissan’s revival from the brink of bankruptcy in the early 2000s after it formed an alliance with Renault, said he expected it would be difficult to restore Mitsubishi’s shattered reputation. Read more


Tesla equipping cars to drive completely on their own

SAN FRANCISCO (AP) — Tesla Motors is starting to build its electric cars with all the sensors, cameras and other gear needed to drive completely on their own when regulations allow the technology to take over that responsibility. The announcement made late Wednesday by Tesla CEO Elon Musk marks the Silicon Valley automaker’s next step toward selling cars that can navigate the roads without the help of a human. Read more


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