Global Glance: Samsung buys Harman; UK will champion free trade

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

Priebus says he and Bannon make effective Trump team

WASHINGTON (AP) — President-elect Donald Trump is making an overture to warring Republican circles by appointing GOP chief Reince Priebus as his White House chief of staff and Breitbart News executive Stephen Bannon as chief strategist and senior counselor. The two men had made up the president-elect’s chief of staff shortlist, and while Priebus received that job, Bannon’s post also is expected to wield significant clout. The media executive with ties to the alt-right and white nationalist movement was given top billing in the press release announcing their appointments. Read more

Samsung Electronics buys auto-systems maker Harman for $8B

SEOUL, South Korea (AP) — Samsung Electronics said Monday it has agreed to acquire auto-systems maker Harman for $8 billion as the South Korean giant eyes the growing market for connected cars. Samsung will pay $112.00 per share in cash for the Stamford, Connecticut-based company, making the acquisition Samsung’s biggest ever. Overseas acquisitions are high on Samsung’s agenda. Last month, the company bought artificial intelligence firm Viv Labs, founded by creators of Apple’s Siri. It also recently bought a cloud service company, a mobile payments firm and a connected home startup. Read more

May says UK will champion free trade in changing world

LONDON (AP) — Prime Minister Theresa May says Britain will be a “global champion of free trade,” in a speech acknowledging that the election of Donald Trump and the U.K. vote to leave the European Union mark an era of profound world change. May is making her first major foreign policy speech Monday at the annual Lord Mayor’s Banquet in London. Extracts were released in advance. Mays say Britain must not be “standing inflexibly, refusing to change and still fighting the battles of the past, but adapting to the moment, evolving our thinking and seizing the opportunities ahead.” Read more

Siemens agrees to buy Oregon-based Mentor Graphics for $4.5B

FRANKFURT, Germany (AP) — German industrial equipment maker Siemens AG says it has agreed to buy U.S.-based software firm Mentor Graphics Corp. for $4.5 billion. The companies said in a joint statement Monday that Mentor’s board recommended shareholders approve the deal. Siemens said it would pay $37.25 a share in cash, or 21 percent more than Mentor’s closing price on Friday. Read more

Toyota to pay up to $3.4B to settle US truck lawsuit

WASHINGTON (AP) — Toyota will pay up to $3.4 billion to settle a class action lawsuit brought by U.S. pickup truck and SUV owners whose vehicles lacked adequate rust protection. Court filings show that the settlement reached on October 31 covers 1.5 million vehicles, dealing a financial blow to the Japanese automaker whose trucks were subject to corrosion that could harm their structural integrity. The settlement applies to Tacoma trucks made from 2005 to 2010, Sequoias from 2005 to 2008 and Tundras from 2007 to 2008. Read more

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