Global Glance: Trump set to challenge Obama-era fuel standards; Chile Pacific trade meeting seeks new path after failed TPP

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

Trump set to challenge Obama-era fuel standards in Detroit

WASHINGTON (AP) — Moving forcefully against Obama-era environmental rules, President Donald Trump is set to announce in Michigan plans to re-examine federal requirements that regulate the fuel efficiency of new cars and trucks. Trump is expected to reveal his plans during an appearance Wednesday at the American Center for Mobility in Detroit where he’ll challenge the Corporate Average Fuel Economy (CAFE) emissions targets that were a centerpiece of former President Barack Obama’s strategy to combat global warming. The rollback underscores the Trump administration’s rejection of mainstream climate science in an effort to boost economic growth. Read more


Chile Pacific trade meeting seeks new path after failed TPP

VINA DEL MAR, Chile (AP) — Representatives from countries that signed the failed Trans-Pacific Partnership began meeting Tuesday to discuss a possible new regional trade deal. Senior officials from the 12 countries of the TPP, plus China, Colombia and South Korea, gathered in the seaside resort city of Vina del Mar. It’s the first time the nations have met since President Donald Trump withdrew from the U.S. from the deal. Chilean Foreign Minister Heraldo Munoz said the Asia-Pacific meeting is an opportunity to send a strong signal for free trade and against protectionism. Read more


3 things to watch from the Federal Reserve on Wednesday

WASHINGTON (AP) — Sending signals loud and clear, the Federal Reserve has left little doubt that it will raise interest rates Wednesday for the third time since December 2015 to reflect a consistently solid U.S economy. The rate increase will likely go down as one of the most telegraphed ever, given that several Fed officials, including Chair Janet Yellen, each let it be known over the past two weeks that they felt it was time to raise the Fed’s benchmark short-term rate. Their string of likeminded comments surprised many investors, who had assumed that the Fed would wait until probably June before raising rates again. Read more


GOP health overhaul puts pressure on state governments

CHERRY HILL, N.J. (AP) — The Republican health care plan means less money for states and gives them a tough choice: Find a pot of cash to make up the difference or let coverage lapse for millions of lower-income Americans. Governors and state lawmakers analyzing the Republican plan to replace former President Barack Obama’s Affordable Care Act fear a return to the past, when those without health coverage used emergency rooms for their medical needs. That uncompensated care that was written off by hospitals or billed to the state. Read more


EU approves proposed AT&T purchase of Time Warner

BRUSSELS (AP) — The European Union has given its blessing to AT&T’s proposed $85 billion purchase of Time Warner, saying that it raises no competition concerns in Europe. The EU’s executive Commission said Wednesday that there are no overlaps between the companies’ activities in the European Economic Area, which includes the 28-nation EU and three other countries. Read more


US consumer prices rose at a tempered pace in February

WASHINGTON (AP) — U.S. consumer prices rose at a slower pace in February. Clothing and housing costs rose last month, while motor vehicle and gasoline prices dipped. Consumer prices rose 0.1 percent in February, a sharp deceleration from the 0.6 percent jump in January, the Labor Department said Wednesday. The tempered increase comes as the Federal Reserve appears to be poised Wednesday to raise a key short-term rate for the third time since late 2015. The Fed has kept rates low in the aftermath of the 2008 financial crisis as inflation had been consistently running below the central bank’s 2 percent annual target. Read more


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