Global Glance: Cyber Monday deals offered early; global economic agency urges more infrastructure spending

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

With deals offered early, will shoppers buy on Cyber Monday?

NEW YORK (AP) — Cyber Monday may be in danger of losing its online sales title. The Monday after Thanksgiving is traditionally the busiest online shopping day of the year, but stores are releasing internet deals earlier, stretching them through the week, as well as making them available in stores. Shoppers looking for discounts spurred online sales on Black Friday to a new high. Read more

Global economic agency urges more infrastructure spending

PARIS (AP) — An international economic agency says the kind of infrastructure spending promised by U.S. President-elect Donald Trump could boost global growth, but is warning that protectionist tendencies will hurt prosperity. The Organization for Economic Cooperation and Development overall hit an upbeat note in its latest world economic outlook Monday, thanks in part to stimulus efforts planned in the U.S. and China. The OECD raised its forecasts for global growth to 3.3 percent for next year, up from 3.2 percent in its last outlook. Read more

House to vote on bill aimed at speeding approval of drugs

WASHINGTON (AP) — The House plans to vote Wednesday on a $6.3 billion bill aimed at speeding federal approval of drugs and medical devices and boosting biomedical research. The legislation, a priority for congressional leaders in the lame-duck session, seeks to streamline how federal regulators assess the safety of new treatments and let them reach markets more quickly. It provides new money for the National Institutes of Health and Food and Drug Administration, including funding for the White House’s cancer moonshot and precision medicine initiatives. Read more

For some in middle class, Trump plan would mean tax increase

WASHINGTON (AP) — President-elect Donald Trump’s proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families – including a majority of single-parent households – the opposite would occur: They’d pay more. Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center found. And while middle-class families as a whole would receive tax cuts of about 2 percent, they’d be dwarfed by the windfalls averaging 13.5 percent for America’s richest 1 percent. Read more

Portugese bank bosses quit ahead of $5.4 billion rescue

LISBON, Portugal (AP) — The troubles at Portugal’s biggest bank by assets, state-owned Caixa Geral de Depositos, are deepening as its new president and six board members have quit less than three months after starting work. The resignations come amid a dispute over a law demanding that the bank’s senior officials make public their income and personal assets. The departures are at a sensitive time as the government readies a 5.1 billion euro ($5.4 billion) rescue plan for the bank. Read more

Dakota Access pipeline protesters told to leave by December 5

BISMARCK, N.D. (AP) — The U.S. Army Corps of Engineers has set an early December deadline for American Indians and others to leave an encampment in North Dakota where they’ve been entrenched for months protesting the Dakota Access pipeline. Tribes including the Standing Rock and Cheyenne River Sioux are fighting the Dakota Access project because they fear it will harm drinking water and cultural sites. Texas-based pipeline developer Energy Transfer Partners says the 1,200-mile pipeline through the Dakotas, Iowa and Illinois will be safe. Read more


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