Global Glance: British American Tobacco agrees to take over Reynolds; UK’s May signals clean break with EU

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

British American Tobacco agrees to take over Reynolds

LONDON (AP) — British American Tobacco Plc has agreed to fully take over Reynolds American Inc. in a deal that will create the world’s largest publicly traded tobacco company. The $49 billion takeover was agreed on improved terms compared with an initial bid made last year. It would combine BAT’s presence in developing countries, where anti-smoking campaigns are not as strong as in the U.S. and Europe, with Reynolds’ almost exclusive focus on the U.S. Read more

UK’s May signals clean break with EU: No partial membership

LONDON (AP) — British Prime Minister Theresa May has made it clear: the U.K. will make a clean break from the European Union and leave its single market of some 500 million people. In her most direct remarks since the June 23 vote, May said Tuesday that Britain must regain control of its laws and borders, even as she called on the bloc to negotiate a free-trade agreement that will benefit both sides. May also made the EU an offer – she hopes – that it can’t refuse: arguing that a “cliff-edge for business or a threat to stability” is good for neither Europe nor Britain. Read more

China’s Xi defends trade as Beijing seeks bolder global role

DAVOS, Switzerland (AP) — Chinese President Xi Jinping on Tuesday trumpeted the need for free trade and urged the world to “say no to protectionism,” delivering a strong rebuke to isolationist tendencies that helped fuel Donald Trump’s presidential election victory. Focusing on the “double-edged” impact of economic globalization in a speech that alluded variously to Charles Dickens, Greek mythology and Chinese proverbs, the leader of the world’s No. 2 economy stressed the need for stability, new vision and perspective that has left many citizens disenfranchised and worried about the future. Read more

Wal-Mart to add about 10,000 retail jobs in the US

NEW YORK (AP) — Wal-Mart plans to add about 10,000 retail jobs in the U.S. as it opens new stores and expands existing locations. The world’s biggest retailer said Tuesday that there will also be about 24,000 construction jobs generated by its expansion plans. There will be 59 new, expanded and relocated Walmart and Sam’s Clubs locations, according to Wal-Mart Stores Inc. The company plans $6.8 billion in capital investments in the U.S. in the coming fiscal year, which begins on Feb. 1. Read more

AP source: GM to announce $1B factory investment, new jobs

DETROIT (AP) — General Motors will announce a $1 billion investment in its factories that will create or keep around 1,000 jobs, a person briefed on the matter said Monday. The Detroit automaker will make the announcement Tuesday morning. The investment is part of the normal process of equipping factories to build new models, and it’s been planned for months, the person told The Associated Press. The person didn’t want to be identified because the announcement hasn’t been made yet. Multiple factories will get part of the money, but GM does not plan to state where the new jobs will go, according to the person. Read more

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