Global Glance: 5 things analysts and investors want to hear from Trump; Takata pleads guilty in air bag scandal

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

5 things analysts and investors want to hear in Trump speech

WASHINGTON (AP) — Economists and investors will be looking for one thing above all from President Donald Trump’s speech to the nation Tuesday night: Details. What will his promised tax cuts look like? Which Obama-era regulations will be reversed? Will he push for an infrastructure spending plan this year? Trump’s broad campaign promises to sharply cut taxes, reduce red tape and boost spending on infrastructure have helped lift the stock market to record highs. Yet without some further guidance on specific plans, investors might grow impatient. Read more

Takata pleads guilty in air bag scandal, agrees to pay $1B

DETROIT (AP) — Japanese auto parts maker Takata Corp. pleaded guilty to fraud Monday and agreed to pay a $1 billion penalty for concealing a deadly defect in millions of its air bags. Takata admitted hiding evidence that its air bag inflators can explode with too much force, hurling shrapnel into drivers and passengers. The inflators are blamed for at least 16 deaths worldwide – 11 of them in the U.S. – and more than 180 injuries. The problem touched off the biggest recall in U.S. automotive history, involving 42 million vehicles and up to 69 million inflators. Read more

SpaceX says it will fly 2 people to moon next year

CAPE CANAVERAL, Fla. (AP) — SpaceX said Monday it will fly two people to the moon next year, a feat not attempted since NASA’s Apollo heyday close to half a century ago. Tech billionaire Elon Musk – the company’s founder and chief executive officer – announced the surprising news barely a week after launching his first rocket from NASA’s legendary moon pad. Two people who know one another approached the company about sending them on a weeklong flight just beyond the moon, according to Musk. He won’t identify the pair or the price tag. They’ve already paid a “significant” deposit and are “very serious” about it, he noted. Read more

Saudi Aramco inks $7 billion deal for Malaysian oil venture

KUALA LUMPUR, Malaysia (AP) — Oil giant Saudi Aramco signed a $7 billion deal Tuesday to take a 50 percent stake in a mega Malaysian oil refinery project, in a pact expected to help Saudi Arabia increase trade in Southeast Asia. Aramco inked the agreement with Malaysia’s national oil company Petronas, which is developing a $27 billion oil processing hub in southern Johor state bordering Singapore. It includes a refinery with the capacity to churn out 300,000 barrels of oil a day, a cracker plant and a petrochemical complex with an annual production capacity of 7.7 million metric tons. Officials have said the deal will make Aramco the single largest investor in Malaysia. Read more

AT&T-Time Warner deal may have easier path to approval

NEW YORK (AP) — AT&T’s $85 billion purchase of Time Warner may be getting an easier path to approval after the chief telecommunications regulator says it isn’t likely to review the deal. Federal Communications Commission Chairman Ajit Pai is telling The Wall Street Journal that the agency likely won’t be involved because of changes in the deal’s structure. Last week, magazine publisher and TV station owner Meredith announced plans buy Time Warner’s lone TV station for $70 million. AT&T’s takeover of that station would have meant an FCC review. Read more

China’s coal consumption falls for 3rd year in a row

BEIJING (AP) — China’s consumption of coal fell in 2016 for a third year in a row, official data showed Tuesday, as the world’s top carbon polluter has emerged as a global leader in addressing global warming. The National Bureau of Statistics said the consumption of coal, a major source of heat-trapping carbon dioxide emissions, fell by 4.7 percent last year, according to preliminary calculations. The bureau said the share of coal in China’s total energy consumption mix fell to 62 percent in 2016 from 64 percent the year before. A revised figure in the China Energy Statistical Yearbook put the 2015 figure at 63.7 percent, but Tuesday’s report referenced the preliminary figures reported last year. Read more


South Korean prosecutors indict Samsung’s de facto chief

SEOUL, South Korea (AP) — South Korean special prosecutors indicted Samsung’s de facto chief Tuesday on bribery, embezzlement and other charges linked to a political scandal that has toppled President Park Geun-hye. The indictment of Samsung Electronics vice chairman Lee Jae-yong is a huge hit for the largest and most successful of the big businesses that dominate the South Korean economy. It also signals the still roiling state of South Korea’s political and economic circles after weeks of massive demonstrations that led to Park’s impeachment. Read more


Starbucks CEO says chain ready to enter Italy after 35 years

MILAN (AP) — Starbucks CEO Howard Schultz’s vision for the chain was largely inspired by the coffee bars he saw on his first trip to Milan more than three decades ago. But it took the company growing to about 26,000 stores in 75 countries to win the credibility he felt necessary to make the leap into the country that gave espresso to the world. As he prepares to step down as CEO in April, Schultz will focus on innovation. That includes a Milan location that will open in 2018 of what he called “the quintessential Roastery” – one of the high-end shops featuring in-house roasting and complex coffee drinks. The journey of 35 years, he said, completes “my own dream and the circle of Starbucks.” Read more


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