Global Glance: Amazon buys Souq.com; American Airlines buys stake in China Southern Airlines

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

Amazon buys Mideast’s Souq.com after $800 million counteroffer

DUBAI, United Arab Emirates (AP) — Amazon purchased the Middle East’s biggest online retailer Souq.com on Tuesday for an undisclosed amount, a day after a state-backed firm disclosed an $800 million counteroffer. A joint statement described the purchase as expanding Amazon’s influence into the Mideast as the chairman of the state-supported firm Emaar prepares to launch his own retail website in a country known more for its luxury malls than online shopping. That could put Seattle-based Amazon in a head-to-head competition with a firm helmed by one of the sheikhdom’s favored business magnates. Read more

American Airlines buys stake in China Southern Airlines

BEIJING (AP) — American Airlines has agreed to pay $200 million for a stake in China Southern Airlines, the biggest of China’s three major state-owned carriers, in a bid for a bigger share of the country’s growing travel market. American and China Southern will expand commercial cooperation, possibly in sales, airport facilities and code-sharing, the Chinese airline said in an announcement Tuesday through the Hong Kong stock exchange. It said the deal represents 2.76 percent of China Southern’s shares and requires regulatory approval. Foreign carriers are forging steadily closer ties with Chinese airlines to gain a bigger share of China’s air travel market, which is growing strongly while travel in Europe and North America is leveling off. In exchange, Chinese carriers get access to experience and management skills. Read more

Self-driving car crash comes amid debate about regulation

PHOENIX (AP) — A crash that caused an Uber self-driving SUV to flip onto its side in a Phoenix suburb serves as a stark reminder of the challenges surrounding autonomous vehicles in Arizona, a state that has gone all-in to entice the company by promising minimal government regulation. Friday night’s crash was blamed on the driver of an oncoming SUV that turned left in front of the Uber vehicle carrying two test drivers and no passengers. There were no serious injuries and the driver of the other car was cited for a moving violation. But images of Uber’s Volvo SUV rolled onto its side reverberated heavily on social media. Uber responded by briefly suspending its self-driving cars in its three testing locations – Arizona, San Francisco and Pittsburgh – as it investigated the accident. Read more

Trump puts anti-Global Warming projects on chopping block

WASHINGTON (AP) — President Donald Trump is expected to sign an executive order Tuesday aimed at moving forward on his campaign pledge to unravel former President Barack Obama’s plan to curb global warming. The order will suspend, rescind or flag for review more than a half-dozen measures in an effort to boost domestic energy production in the form of fossil fuels. As part of the roll-back, Trump will initiate a review of the Clean Power Plan, which restricts greenhouse gas emissions at coal-fired power plants. The regulation, which was the former president’s signature effort to curb carbon emissions, has been the subject of long-running legal challenges by Republican-led states and those who profit from burning oil, coal and gas. Read more

Got camera? Facebook adds more Snapchat-like features

NEW YORK (AP) — Facebook is adding more Snapchat-like features to its app. The company says it wants to let people’s cameras “do the talking” as more people are posting photos and videos instead of blocks of text. With the update coming to users starting Tuesday, Facebook is adding a camera icon to the top left corner of its mobile app. Users can tap it to open their phone’s camera to do a photo or video post. Users could post photos from the app before, it just took two taps. Facebook’s other new Snapchat-copycat features are filters and animations that can be added to images, and a “stories” feature that lets users post photos and videos that stay live for 24 hours. Read more

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