Global Glance: Trump pushes for fast action on health care; World Economic Forum says capitalism needs urgent reform

Powered by The Associated Press

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

Trump pushes GOP leaders for fast action on health care

WASHINGTON (AP) — President-elect Donald Trump pushed Congress on Tuesday to act swiftly to repeal President Barack Obama’s health care law and follow up with a replacement. Speaker Paul Ryan, after talking with Trump, announced that the House would aim to take both steps “concurrently.” The push for speed and coordination came as growing numbers of Republicans expressed concerns about GOP leadership’s plans to repeal the Affordable Care Act without a replacement in hand, potentially leaving the 20 million people who gained coverage under the law in limbo. Read more

World Economic Forum says capitalism needs urgent reform

LONDON (AP) — Reforming the very nature of capitalism will be needed to combat the growing appeal of populist political movements around the world, the World Economic Forum said Wednesday. Getting higher growth levels, it added, is necessary but insufficient to heal the fractures in society that were evident in the election of Donald Trump as U.S. president and Britain’s vote to leave the European Union. In a wide-ranging report from the organizer of the annual gathering of political and business leaders in the Swiss resort of Davos, the WEF identified “rising income and wealth disparity” as potentially the biggest driver in global affairs over the next ten years. Read more

Volkswagen: Draft deal in scandal contains $4.3 billion in fines

FRANKFURT, Germany (AP) — German automaker Volkswagen AG said Tuesday that it was in “advanced talks” with United States authorities over a proposed settlement in its diesel emissions scandal under which the company would pay $4.3 billion in criminal and civil fines. The draft settlement with the U.S. Department of Justice and U.S. Customs and Border Protection would include the appointment of an independent monitor to oversee the company’s compliance and control measures for three years. Read more

World Bank forecasts brighter prospects for 2017

WASHINGTON (AP) — The World Bank is forecasting the global economy will accelerate slightly in 2017 after turning in the worst performance last year since the 2008 financial crisis. The 189-nation lending agency said Tuesday that the global growth should expand at a 2.7 percent annual rate this year. That is down from the bank’s June forecast for 2.8 percent growth this year, but it’s better than last year’s 2.3 percent growth. Read more

Lawsuits over Trump business threaten to tie up presidency

WASHINGTON (AP) — As a businessman, Donald Trump has kept the courts busy. That’s hardly likely to change when he enters the Oval Office, creating an unusual and potentially serious problem for a sitting president. Only a handful of presidents have undergone legal depositions during their terms, and even fewer have become embroiled in private lawsuits. Trump is poised to join that small club. Just last week, the president-elect sat for a deposition in a lawsuit involving his Washington hotel , and he is still tied up in legal disputes that are to proceed after Inauguration Day. Trump is also caught up in an investigation by the New York attorney general into whether he used his charity for personal benefit. Read more

‘Yes we did’ – Obama bids farewell in nostalgic last speech

CHICAGO (AP) — President Barack Obama has bid farewell to the nation in an emotional speech that sought to comfort a country on edge over rapid economic changes, persistent security threats and the election of Donald Trump. Forceful at times and tearful at others, Obama’s valedictory speech in his hometown of Chicago was a public meditation on the many trials the U.S. faces as Obama takes his exit. For the challenges that are new, Obama offered his vision for how to surmount them, and for the persistent problems he was unable to overcome, he offered optimism that others, eventually, will. Read more


Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students