Global Glance: ‘WannaCry’ ransomware hits workweek’s start; China’s Xi outlines plans for wide cooperation in trade plan

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

Monday morning blues as ‘WannaCry’ hits at workweek’s start

TOKYO (AP) — The worldwide “ransomware” cyberattack spread to thousands of more computers on Monday as people logged in at work, disrupting business, schools, hospitals and daily life, though no new large-scale breakdowns were reported. In Britain, whose health service was among the first high-profile targets of the attack Friday, some hospitals and doctors’ offices were still struggling to recover. The full extent of the damage from the cyberattack felt in 150 countries was unclear and could worsen if more malicious variations of the online extortion scheme appear. Read more

China’s Xi outlines plans for wide cooperation in trade plan

BEIJING (AP) — Chinese President Xi Jinping expressed ambitious hopes Monday for Asian and European governments to work closely on finance, law enforcement and a broad range of other issues under a Beijing-led trade initiative as leaders of 30 countries ended a meeting to promote the effort. The “Belt and Road” project is China’s biggest foreign initiative to date as Beijing looks for global stature to match its economic success. It calls for expanding trade across Asia, Africa and Europe by investing in ports, railways and other facilities, but governments including Russia, Washington and India are uneasy Beijing also is using it to gain political influence. Read more

GM’s Maven car-sharing launches in New York

DETROIT (AP) — General Motors is launching its Maven car-sharing service in New York City. The service lets members rent GM vehicles for up to 28 days at a time. Maven will park 80 vehicles around Manhattan. Using Maven’s smartphone app, members can reserve a time and unlock and start the car when they arrive. Prices vary by vehicle, but it will cost about $100 to use a Chevrolet Cruze for a full day. Maven takes care of the insurance and fuel costs. Read more

Russia, Saudi Arabia back extension of oil output cuts

MOSCOW (AP) — Russia and Saudi Arabia said Monday they want to extend oil production cuts through the first quarter of 2018, in a move the two major producers say would support the market price. Oil prices rose on the announcement that the countries want to extend the deal, which encompasses both nations in the Organization of the Petroleum Exporting Countries and some non-OPEC countries like Russia. Read more

Republicans flip Obama-era regulations, claim a boon to economy

WASHINGTON (AP) — Final score: Republicans 14, Barack Obama’s last-minute regulations, one. Congressional Republicans anxious to show voters they can get something done are hailing their reversal of more than a dozen Obama-era regulations on guns, the internet and the environment. Over a few months, lawmakers used an obscure legislative rule to ram through changes that will have far-reaching implications for the coal industry, broadband customers, hunters and women seeking health care at Planned Parenthood and other abortion providers. Read more

Experts try to figure out who’s behind global cyberattack

HONG KONG (AP) — Experts are trying to figure out who’s behind a global “ransomware” software cyberattack that shut down hundreds of thousands of computers around the world by exploiting a software vulnerability. Some details about the “WannaCry” attack, which emerged late Friday, and what you can do to stay safe: Cybersecurity experts say the worm affects computers using Microsoft operating systems and takes advantage of a vulnerability in the software to spread the infection. “WannaCry” is particularly malicious because it takes just one person to click on an infected link or email attachment to cause the virus to spread to other machines on the same network. Read more


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