Global Glance: Trump reaffirms ‘One China’ policy; Travel ban on hold after appeals court rejection

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

Trump reaffirms ‘One China’ policy in call with Xi Jinping

BEIJING (AP) — President Donald Trump reaffirmed Washington’s long-standing “one China” policy in a call with Beijing’s leader, a move that could ease anger in China over his earlier suggestions that he might use Taiwan as leverage in negotiations over trade, security and other sensitive issues. More than two months after deviating from decades of American diplomacy regarding Taiwan by accepting a phone call from the self-governing island’s president, Trump appeared to be trying to reassure Beijing he would not seek to upend relations between the world’s two-largest economies. Read more

Trump travel ban on hold after appeals court rejection

SAN FRANCISCO (AP) — The legal fight over President Donald Trump’s ban on travelers from seven predominantly Muslim nations is on hold after the 9th U.S. Circuit Court of Appeals declined to block a lower-court ruling that suspended the ban, allowing previously barred travelers to continue coming to the United States. In a rebuke to the Trump administration Thursday, the three federal appellate judges sided with the states of Washington and Minnesota on nearly every matter, rejecting nearly all of the administration’s arguments in favor of reinstating the ban, meaning the case could now shift to the U.S. Supreme Court. They judges also did not shy away from the larger constitutional questions raised by the order, rejecting the administration’s claim of presidential authority, questioning its motives and concluding that the order was unlikely to survive legal challenges. Read more

Reckitt Benckiser to acquire Mead Johnson for $16.6 billion

LONDON (AP) — British household products company Reckitt Benckiser is acquiring U.S. baby formula maker Mead Johnson for $16.6 billion in a move that will help the company grow in China. Reckitt Benckiser, which makes products ranging from condoms to Lysol, offered $90 for each Mead Johnson share, or about $16.6 billion. That’s a 29 percent premium from Mead Johnson’s closing stock price on Feb. 1 – before word of the deal began to be discussed publicly. The total value of the transaction is $17.9 billion including Mead Johnson’s net debt. Read more

Blackstone buys largest US benefits admin platform for $4.8B

NEW YORK (AP) — Investment firm Blackstone is buying Aon’s technology-enabled benefits and human resources assets in a deal valued at up to $4.8 billion. The transaction includes $4.3 billion at closing and the potential for up to an additional $500 million based on future performance. The companies said Friday that the Aon assets being purchased are the largest benefits administration platform in the U.S., serving approximately 15 percent of the U.S. working population across more than 1,400 companies. Read more

How Trump & Co. have moved to quash tighter financial rules

WASHINGTON (AP) — Just three weeks into his administration, President Donald Trump and his allies are moving quickly to dismantle the web of regulations the government passed after the 2008 financial crisis to tighten oversight of banks and protect consumers and taxpayers. Trump has branded the 2010 Dodd-Frank law – which imposed many of the rules – a “disaster.” Financial firms, too, have chafed against it, and Republican lawmakers have longed to dismember it. Now, they see a chance to succeed. Read more

Sears may sell real estate, cut jobs to save $1 billion

NEW YORK (AP) — Sears may sell more locations, cut more jobs and put more of its famous brands on the block in an attempt to revive the faltering retail chan. The company, which also owns Kmart, said Friday that it is cutting costs by at least $1 billion a year. Shares of Sears Holding Corp., which are down 40 percent this year, soared 45 percent before the market opened Friday. Read more

Japanese PM looks to win Trump’s trust in White House talks

WASHINGTON (AP) — President Donald Trump’s meeting with Japan’s prime minister offers a chance to shore up a long-standing security alliance and repair economic ties shaken by U.S. withdrawal from a Pacific trade pact. Prime Minister Shinzo Abe, who is expected to propose more Japanese investment in the U.S., has wasted no time in trying to win Trump’s trust. He was the only world leader to meet the Republican before inauguration, and will be the second to do so since the new president took office. Trump and Abe will hold talks in the Oval Office on Friday, followed by a joint news conference and a working lunch. Read more

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