Global Glance: US economic growth weakened in first quarter; Trump won’t get OK of House health bill before his 100th day

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

US economic growth weakened to 0.7 percent in first quarter

WASHINGTON (AP) — The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result repeats a pattern that has characterized the recovery: lackluster beginnings to the year. The gross domestic product, the total output of goods and services, grew by just 0.7 percent in the first quarter following a gain of 2.1 percent in the fourth quarter, the Commerce Department reported Friday. The slowdown primarily reflected slower consumer spending, which grew by just 0.3 percent after a 3.5 percent gain in the fourth quarter. It was the poorest showing in more than seven years. Analysts blame in part the unusually warm winter, which meant less spending on utility bills. Read more

Trump won’t get OK of House health bill before his 100th day

WASHINGTON (AP) — President Donald Trump seems destined to serve his 100th day in office without House passage of a major Republican health care bill or enactment of a budget financing the government for the rest of this year. But at least the government probably won’t be shut down – for at least another week. The House won’t vote on a reworked health care overhaul until at least next week, Majority Leader Kevin McCarthy, R-Calif., told reporters late Thursday. Party leaders made that decision after spending all day pressuring moderate GOP lawmakers to back that bill, but fell short of the votes they’d need to prevail. Read more

UK economy slows as Brexit weighs on consumers

LONDON (AP) — Britain’s economy slowed in the first three months of the year as concerns about the U.K.’s exit from the European Union spurred inflation and forced consumers to rein in spending. The economy expanded 0.3 percent from the previous quarter, below the 0.4 percent that was expected and less half the 0.7 percent it grew at the end of 2016, the Office for National Statistics said Friday. The pound has fallen about 20 percent against the dollar and euro since Britain voted to leave the EU, pushing up the cost of many imported goods. That seems to be hurting consumers – potentially bad news for the government only a few weeks before a general election. Read more

After Apple cuts off payments, Qualcomm slashes expectations

NEW YORK (AP) — Qualcomm is slashing its profit expectations after saying that Apple is now refusing to pay royalties on technology used in the iPhone. Apple Inc. sued Qualcomm earlier this year, saying that the San Diego chipmaker has abused its control over essential technology and charged excessive licensing fees. Qualcomm said Friday that Apple now says it won’t pay Qualcomm any fees until the dispute is resolved. Read more

Passenger who was dragged off jetliner settles with United

CHICAGO (AP) — The passenger who was dragged off a flight after refusing to give up his seat settled with United for an undisclosed sum Thursday in an apparent attempt by the airline to put the fiasco behind it as quickly as possible. David Dao’s legal team said the agreement includes a provision that the amount will remain confidential. One his lawyers praised United CEO Oscar Munoz. The deal came less than three weeks after the episode and before Dao had even sued. The deal means United will not face a lawsuit, which could have been costly, both in legal bills and in further damage to the airline’s reputation. Read more

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