Global Glance: British American Tobacco offers $47B to Reynolds; EU leaders scramble to salvage free trade pact with Canada

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

British American Tobacco offers to buy Reynolds in $47B deal

LONDON (AP) — British American Tobacco is offering to take over Reynolds American Inc. in a $47 billion deal that would create the world’s largest publicly traded tobacco company and try to make up for a decline in smoking in the U.S. and Europe. With tobacco firms under pressure from health groups in developed economies and increasingly popular electronic cigarettes, a merger of this size would help them consolidate costs and resist competition from Asia, analysts say. Read more

EU leaders scramble to salvage free trade pact with Canada

BRUSSELS (AP) — The European Union’s attempt to finalize a massive free trade deal with Canada remained in limbo Friday, with the tiny Belgian region that’s holding up the pact saying its objections had not yet been sufficiently addressed. Paul Magnette, the president of Wallonia, spent hours discussing with Canadian International Trade Minister Chrystia Freeland to find a compromise. The deal needs unanimity within the EU, and Belgium in turn needs unanimity among its regions. Read more

Survey: More Americans now have access to bank accounts

NEW YORK (AP) — More Americans have access to a checking or savings account, according to a survey released Thursday by federal regulators, a sign that the improving economy is helping lift the nation’s poorest households. The portion of Americans who do not have a bank account, known in industry jargon as the “unbanked,” declined to 7 percent in 2015 from 7.7 percent in 2013, according to the survey from the Federal Deposit Insurance Corp. The improvements came mostly from households making less than $15,000 a year and among minority populations, particularly black and Hispanic households. 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

Indian bank authorities say 3.2 million debit cards hacked

NEW DELHI (AP) — Indian banks scrambled Friday to contain the damage after finding that more than 3.2 million debit cards may have been hacked. Several banks, including the government-run State Bank of India, advised customers to change their personal identification numbers. The banks have recalled thousands of debit cards and blocked others that they fear have been hacked. The breach is thought to have been caused by malware on an ATM network. Read more

Japan overwork deaths among young show lessons unlearned

TOKYO (AP) — Despite efforts over the past two decades to cut back on overwork, it still causes hundreds of deaths and illnesses every year in Japan, affecting all sorts of workers, from elite “salary-man and career-woman” employees like Takahashi to IT technicians and manual laborers. In August 2015, labor authorities caught Dentsu exceeding its own 70 hour monthly maximum overtime limit and ordered it to cut back. Read more


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