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Corrected May 1 at 11 a.m.
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Here are today’s top business headlines from across the nation and world:
WASHINGTON (AP) — Lawmakers on Monday unveiled a huge $1 trillion-plus spending bill that would fund most government operations through September but would deny President Donald Trump money for a border wall and rejects his proposed cuts to popular domestic programs. The 1,665-page bill agreed to on Sunday is the product of weeks of negotiations. It was made public in the predawn hours Monday and is tentatively scheduled for a House vote on Wednesday. The catchall spending bill would be the first major piece of bipartisan legislation to advance during Trump’s short tenure in the White House. Read more
ISTANBUL (AP) — Workers and activists marked May Day around the world Monday with defiant rallies and marches for better pay and working conditions. Police detained 70 people in Istanbul as they tried to march, garment workers in Cambodia defied a government ban to demand higher wages, and workers in Spain deplored the country’s 19 percent jobless rate. Read more
WASHINGTON (AP) — U.S. consumers cut back sharply in spending on durable goods such as autos in March, leaving overall spending unchanged for a second straight month. The slowdown in consumer activity was a major reason overall economic growth slowed so sharply in the winter. The Commerce Department says consumer spending was unchanged in March after also being flat in February and posting only a modest rise of 0.2 percent in January. For the January-March quarter the sharp slowdown in consumer spending was a key reason growth, as measured by the gross domestic product, slowed to an annual rate of just 0.7 percent, the poorest performance in three years. Read more
NEW YORK (AP) — Shares of Tribune Media are surging before the opening bell on reports that 21st Century Fox and Blackstone may make a joint takeover bid for the Chicago TV station operator. The bid would apparently be an attempt to keep Sinclair Broadcast Group Inc., which is also rumored to be pursuing Tribune, from snatching up Tribune’s stakes in Food Network, WGN cable network and some local TV stations. Blackstone, a private equity firm, is said to be putting cash toward the offer, while Fox would contribute some of its stations, according to the reports. Read more
POITIERS, France (AP) — Whether or not Emmanuel Macron wins the French presidency in next Sunday’s runoff, he has already accomplished the unthinkable. That’s thanks to an unorthodox, American-style grassroots campaign, which has harvested ideas from the left and the right, tossed them with a dose of startup culture and business school acumen and produced a political phenomenon. Without a party to back him up or any experience stumping for votes, the 39-year-old Macron came out on top of the first round of the French presidential vote, winning over 8 million voters and overturning decades of French political expectations. Read more
Correction – May 1 at 11 a.m.
The headline and body of this post were updated to reflect the proposed budget being a $1 trillion plan. A previous version of the post incorrectly stated it was a $1 billion plan.