Global Glance: Trump gives GOP leaders roadmap for change; YouTube will offer its own pay-TV service

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

Trump gives GOP leaders rallying cry, roadmap for change

WASHINGTON (AP) — President Donald Trump gave Republican congressional leaders a rallying cry and even a roadmap as they try to push through a sweeping and divisive agenda on health care, taxes and more. In his first address to a joint session of Congress, Trump said largely what GOP leaders were hoping to hear Tuesday night, staying on-message and talking in optimistic tones, even weighing in at one point to settle a brewing dispute over how to repeal and replace the Affordable Care Act. Read more

Beyond cat videos: YouTube will offer its own pay-TV service

NEW YORK (AP) — Fed up with paying for cable the traditional way? You may soon be able to subscribe to it over the internet with … YouTube. The Google-owned site, known for cat videos and do-it-yourself makeup tutorials, is the latest company to offer a version of cable that looks and feels more like Netflix. Dish, Sony and AT&T already have internet cable alternatives , and Hulu has one coming soon. None of these have yet been huge hits. YouTube is hoping its expertise in recommendations and search makes it stand out. Read more

Trump’s budget plan has billions for border, cuts elsewhere

WASHINGTON (AP) — President Donald Trump wants billions of dollars to start building a wall at the Mexican border and fund efforts to find, jail and deport immigrants in the country illegally, according to White House budget documents The Associated Press obtained on Tuesday. The Office and Management and Budget’s financial outline for the Department of Homeland Security also calls on the Coast Guard to scrap the agency’s counterterrorism Maritime Security Response Team, and all of its Maritime Safety and Security Teams. The rationale for the elimination of the programs isn’t spelled out. Trump has made fighting terrorism a top priority and his overall budget outline calls for significant increases in military spending. Read more

US consumer spending up slightly, inflation at 4-year high

WASHINGTON (AP) — U.S. consumer spending rose at only a sluggish pace in January, even as signs of growing optimism about the economy have emerged. Consumer spending increased 0.2 percent in January, after a 0.5 percent gain in December, the Commerce Department said Wednesday. Spending on services – from haircuts to health care – was flat, and Americans spent less on long-lasting goods such as autos and appliances. Read more

Uber CEO caught on video arguing over fares with driver

Uber’s CEO says he needs leadership help after a video has emerged of him arguing heatedly with a driver about fares. In the latest embarrassment to beset the ride-hailing company, CEO Travis Kalanick is seen discussing Uber’s business model with the driver. In the dashcam video obtained by Bloomberg News , the driver argues that Kalanick is lowering fares and claims he lost $97,000 because of him. “I’m bankrupt because of you.” Read more

China rejects Trump claim it took US jobs away

China says its participation in the World Trade Organization has not only benefited Beijing but global economic growth as well, implicitly rejecting President Donald Trump’s claim that it took factories away from the U.S. Trump, in his speech to Congress, said the U.S. has “lost 60,000 factories” since China joined the multilateral trading system. Chinese foreign ministry spokesman Geng Shuang says China sees its economic ties with the U.S. as being mutually beneficial and said China is “willing to get along with the U.S. to jointly expand and deepen bilateral trade.” Read more

ECB official: Stimulus lowers incentive to cut deficits

FRANKFURT, Germany (AP) — A top European Central Bank official is warning that the bank’s stimulus measures are easing pressure on indebted governments to straighten out their finances. Jens Weidmann of Germany said Wednesday that current low borrowing rates offer “few incentives for governments to consolidate their budgets” since debt does not incur high interest costs. Read more

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