Global Glance: Stopgap spending bill to be unveiled; Greece gets short-term debt relief

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

Stopgap spending bill to be unveiled as Congress finishes up

WASHINGTON (AP) — Congress is quickening its pace toward adjourning late this week, marching toward a final vote on legislation boosting medical research and speeding drug approvals and readying a separate stopgap spending bill to prevent the government from shutting down this weekend. The temporary budget bill, scheduled to be unveiled Tuesday, would keep federal agencies functioning into next spring, giving the new Congress and the incoming Trump administration time to approve more than $1 trillion to fund federal agencies through the Sept. 30 end of the current government budget year. Read more

Top UK judges grill government lawyer on Brexit plans

LONDON (AP) — A British government lawyer said Tuesday that the Supreme Court will fall into a “serious constitutional trap” if it rules that Parliament must have a vote before ministers start the U.K.’s divorce from the European Union. Three lower court judges ruled last month that the British government cannot trigger Article 50 of the EU’s key treaty, launching two years of exit negotiations, without lawmakers’ approval. Read more

Greece gets short-term debt relief from Eurozone

BRUSSELS (AP) — Greece won some short-term debt relief from European creditors on Monday even though it failed to clear the latest hurdle in its bailout program that has prevented the country going bankrupt and crashing out of the euro. At a meeting of the 19 eurozone finance ministers in Brussels that was largely overshadowed by the Italian referendum result that forced Premier Matteo Renzi to offer his resignation, Greece’s creditors offered some immediate help to the cash-strapped Greek government. Read more

Amazon testing checkout-free grocery store

NEW YORK (AP) — Amazon is testing a grocery store model in Seattle that works without checkout lines. Called Amazon Go, shoppers scan their Amazon app when they enter the store, and then sensors register items that shoppers pick up and automatically charge them to the Amazon app. If a shopper puts the item back they aren’t charged. The store offers ready-to-eat meals, staples like bread and milk and meal-making kits. Read more

US productivity up 3.1 percent in third quarter

WASHINGTON (AP) — The productivity of American workers rose in the July-September quarter at the fastest pace in two years while labor costs slowed after a big jump in the spring. Productivity increased in the third quarter at a 3.1 percent rate, the Labor Department reported Tuesday. That followed three quarterly declines and was the best showing since a 4.2 percent increase in the third quarter of 2014. Labor costs edged up at a 0.7 percent rate in the third quarter following a much faster 6.2 percent jump in the second quarter. Read more

South Korea’s Park would leave economy mired in challenges

SEOUL, South Korea (AP) — The heir to the Samsung empire and other tycoons took a public drubbing by lawmakers Tuesday over deep-rooted ties between politics and business that helped drive South Korea’s economic ascent but are central to its political crisis. The questioning on national TV of Samsung Electronics vice chairman Lee Jae-yong, 48-year-old only son of the company’s ailing chairman, and eight other business leaders was in response to prosecution claims that President Park Geun-hye allowed a corrupt confidante to pull government strings and extort big sums from companies. Read more


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