Global Glance: Sears has doubts about its future; GOP leaders boost pressure as health bill crunch time nears

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

Sears has ‘substantial doubt’ about its future

NEW YORK (AP) — Sears, once the monolith of American retail, says that there is “substantial doubt” that it will be able to keep its doors open. Company shares, which hit an all-time low last month, tumbled more than 5 percent before the opening bell Wednesday. Millions of dollars have been funneled through the hedge fund of Chairman and CEO Edward Lampert to keep Sears afloat but with sales fading, it is burning through cash. Lampert combined Sears and Kmart in 2005, about two years after he helped bring Kmart out of bankruptcy. Read more

GOP leaders boost pressure as health bill crunch time nears

WASHINGTON (AP) — President Donald Trump and House leaders are revving up pressure on balky conservatives and other Republican lawmakers as crunch time approaches on the party’s health care overhaul bill, a drive GOP leaders concede they can’t afford to lose. A day before the House planned votes on the measure, Trump was expected to continue hunting support for what would be a significant achievement for his young presidency. But underscoring the bill’s uncertain fate, a senior administration official said that 20 to 25 House Republicans remained opposed or undecided. That’s a grave figure since united Democratic opposition means the measure crashes if 22 GOP lawmakers vote “no.” Read more

AkzoNobel rejects second takeover bid by PPG industries

THE HAGUE, Netherlands (AP) — Industrial paints and chemicals company AkzoNobel has rejected a second unsolicited takeover bid from U.S. company PPG Industries worth 22.4 billion euros ($24.1 billion). AkzoNobel CEO Ton Buechner said in a statement Wednesday that the bid “significantly fails to recognize the value of AkzoNobel” and is not in the interest of the company, its shareholders or its staff. The latest bid, which was unanimously rejected by AkzoNobel’s board, comes just under two weeks after PPG made its first unsolicited offer, worth 21 billion euros. Read more

Report: Climate outlook improves as fewer coal plants built

BEIJING (AP) — Led by cutbacks in China and India, construction of new coal-fired power plants is falling worldwide, improving chances climate goals can be met despite earlier pessimism, three environmental groups said Wednesday. A joint report by the groups CoalSwarm, the Sierra Club and Greenpeace follows a warning this week by two international agencies that the world needs to shift quickly away from fossil fuels to curb global warming. Environmentalists were dismayed by President Donald Trump’s U.S. government budget proposal last week that would cut spending on renewable energy. Read more

New security measures could cause travelers to reroute trips

DALLAS (AP) — A new security measure banning many electronic devices on flights from 10 mostly Muslim countries is leading travelers to reconsider their plans to fly through some airports in the Middle East and Africa. The U.S. and British governments, citing unspecified threats and attacks against airliners and airports over the past two years, announced Tuesday they are barring passengers from airports in 10 countries from bringing laptops, tablets, cameras and other devices on board in carry-on bags. Only cellphones and medical devices will be allowed in the passenger cabins. Read more

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