Global Glance: Trump expected to sign new travel ban order; Standard Life and Aberdeen agree on terms for merger

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

Trump expected to sign new travel ban order

WASHINGTON (AP) — A revised executive order temporarily barring the entry of people from certain Muslim-majority countries and halting the nation’s refugee program is set to go to President Donald Trump soon. A White House official says plans to roll out the order are on track for Monday. The official insisted on anonymity in order to discuss the order ahead of the official announcement. The new order has been in the works since shortly after a federal court blocked Trump’s initial effort. Read more

Standard Life and Aberdeen agree on terms for merger

LONDON (AP) — Investment firm Standard Life agreed Monday to buy Aberdeen Asset Management for 3.8 billion pounds ($4.7 billion) to create Britain’s largest asset management company. The deal will merge two “active” fund managers – that is, companies that try to use expertise to outperform the wider stock market. Active managers have struggled since the financial crisis, leading investors to pull money out of their funds. Read more

Mayo, wings, butter: ‘Fake milk’ is the latest food fight

NEW YORK (AP) — Is “fake milk” spoiling the dairy industry’s image? Dairy producers are calling for a crackdown on the almond, soy and rice “milks” they say are masquerading as the real thing and cloud the meaning of milk. A group that advocates for plant-based products, the Good Food Institute, countered this week by asking the Food and Drug Administration to say terms such as “milk” and “sausage” can be used as long as they’re modified to make clear what’s in them. It’s the latest dispute about what makes a food authentic, many of them stemming from developments in manufacturing practices and specialized diets. Read more

Deutsche Bank to raise $8.5 billion to help restructure firm

NEW YORK (AP) — European banking giant Deutsche Bank announced plans to raise at least $8.5 billion in capital and sell off a stake in its asset management business, in a move to help shore up the troubled German firm. Deutsche Bank will issue 687.5 million new shares later this month, the bank said Sunday, in an effort to take advantage of the recent run up in the bank’s stock price. As part of the restructuring, Deutsche said it will take a part of its asset management business public. The bank will also abandon its plans to sell Postbank, and will integrate Postbank into the rest of its retail banking business. Read more

Hackers drawn to energy sector’s lack of sensors, controls

HOUSTON (AP) — Oil and gas companies, including some of the most celebrated industry names in the Houston area, are facing increasingly sophisticated hackers seeking to steal trade secrets and disrupt operations, according to a newspaper investigation.A stretch of the Gulf Coast near Houston features one of the largest concentrations of refineries, pipelines and chemical plants in the country, and cybersecurity experts say it’s an alluring target for espionage and other cyberattacks. Read more


Uber deploys secret weapon against undercover regulators

SAN FRANCISCO (AP) — Uber has been wielding a secret weapon to thwart authorities who have been trying to curtail or shut down its ride-hailing service in cities around the world. The program included a feature nicknamed “Greyball” internally that identified regulators who were posing as riders while trying to collect evidence that Uber’s service was breaking local laws governing taxis. Read more


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