Global Glance: Government-wide spending bill headed for House vote; Apple growing cash stash

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

Government-wide spending bill headed for a House vote

WASHINGTON (AP) — A government-wide spending bill that President Donald Trump seemed to criticize Tuesday morning but now calls “a clear win for the American people” is headed for a House vote. The House is scheduled to vote on the bipartisan $1.1 trillion measure Wednesday afternoon. It is a product of weeks of Capitol Hill negotiations in which top Democrats like House Minority Leader Nancy Pelosi successfully blocked Trump’s most controversial proposals, including a down payment on the oft-promised Trump Mexico border wall, cuts to popular domestic programs, and new punishments for so-called sanctuary cities. Read more

Apple growing cash stash spurs talk of huge acquisition

SAN FRANCISCO (AP) — As Apple’s stash of cash grows, so does the possibility that the world’s most valuable company will use some of the money for a huge acquisition that would expand its empire beyond iPhones and other gadgets. The company currently holds more than a quarter-trillion dollars it could use to go shopping. So far, the guessing game has primarily focused on possible targets such as Netflix and Tesla Motors. Either deal could make sense, given Apple’s long-running interest in providing a TV service to consumers and its more recent work on self-driving cars. Read more

Democrats seek to protect watchdog as GOP tackles Dodd-Frank

WASHINGTON (AP) — Democratic lawmakers will attempt to protect the independence of a consumer watchdog unit as Republicans move forward with an overhaul of the nation’s financial regulatory laws. House Republicans are working to undo much of the 2010 Dodd-Frank law that put the stiffest restrictions on banks and Wall Street since the 1930s Depression. On display throughout the debate Tuesday were two mindsets. Democrats are particularly focused on defending the Consumer Financial Protection Bureau. The Republican bill would reduce its powers, make it easier for the president to remove its director and subject it to the regular appropriations process. Read more

JPMorgan to move hundreds of jobs from London due to Brexit

LONDON (AP) — The head of investment banking for JPMorgan Chase & Co. says the bank will move hundreds of jobs from London to Dublin, Frankfurt and Luxembourg as Britain prepares to leave the European Union. Daniel Pinto told Bloomberg News on Tuesday some will move “in the short term to be ready for day one.” More may follow. Read more

Etsy replaces CEO, cuts jobs amid shareholder pressure

BROOKLYN, N.Y. (AP) — Etsy Inc. is replacing its CEO and cutting jobs as it faces pressure from shareholders upset with its lackluster profits and anemic stock performance. The online crafts marketplace said Tuesday that it has named board member Josh Silverman as CEO, replacing Chad Dickerson, who also stepped down as board chairman. The Brooklyn, New York-based company also said it is also eliminating about 80 jobs, or 8 percent of its workforce, as it moves to trim costs. Read more

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