Global Glance: Belgium cannot back EU-Canada trade deal; Tata Sons removes chairman Mistry

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

AT&T’s $85.4B deal for Time Warner: A new bet on synergy

NEW YORK (AP) — AT&T’s $85.4 billion purchase of Time Warner represents a new bet on synergy between companies that distribute information and entertainment to consumers and those that produce it. The acquisition would combine a telecom giant that owns a leading cellphone business, DirecTV and an internet service with the company behind HBO, CNN, and some of the world’s most popular entertainment, including “Game of Thrones,” the “Harry Potter” franchise and professional basketball. It’s the latest big media acquisition by a major cable or phone company – such as Comcast’s 2011 purchase of NBC Universal – and aimed at shoring up businesses upended by the internet. Read more

Belgium cannot yet back EU-Canada trade deal

BRUSSELS (AP) — The Belgian government says that at this stage it cannot give the necessary backing to the European Union’s free trade deal with Canada, endangering the trans-Atlantic pact. Belgian Prime Minister Charles Michel said Monday that “the clear answer, at this stage, is no.” It left it open to what extent the EU and Belgium could continue negotiating with the southern Belgian region of Wallonia, which needs to bless the deal before it can become official. Read more

Indian business giant Tata Sons removes chairman Mistry

NEW DELHI (AP) — The board of directors of Tata Sons has removed Cyrus P. Mistry as chairman of the giant Indian conglomerate. The board on Monday named former group chief Ratan Tata as interim chairman and set up a panel to choose a new chairman. Tata Sons owns the Jaguar and Land Rover brands, as well as Tetley Tea. It is one of India’s oldest industrial houses and comprises over 100 companies, including Tata Steel, Tata Motors, Tata Power and the IT giant, Tata Consultancy Services. Read more

Japan posts trade surplus in September; exports down 7 percent

TOKYO (AP) — Japan’s trade balance swung to a surplus in September, as exports fell less than expected. Customs figures released Monday showed exports in September totaled 5.97 trillion yen ($57.4 billion). Imports fell 16.3 percent from a year earlier to 5.47 trillion yen ($52.6 billion). The surplus of 498.3 billion yen ($4.8 billion) compared with a deficit of 18.7 billion yen in August. Read more

For some low-income workers, retirement is only a dream

Studies have found that about one-third of low wage workers say they’ll never be able to afford retirement. The problem is particularly acute among minority women. A 2016 study by The Associated Press-NORC Center for Public Affairs Research found that one-quarter of workers 50 and older say they won’t retire. Among low wage workers, earning less than $50,000 a year, it was 33 percent. Read more

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