Global Glance: World economy seen picking up; Trump chooses regional banker as key banking regulator

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

World economy seen picking up; political uncertainty a risk

PARIS (AP) — The world economy is picking up speed but faces big political uncertainties and needs to be reformed to make growth work for a broader swath of people, a global policy watchdog said Wednesday. The Organization for Economic Cooperation and Development predicted in its latest global outlook report that world growth would accelerate from 3 percent in 2016 to 3.6 percent in 2018. The OECD, whose members comprise the richest economies in the world and that serves as a policy think tank, expects an improvement in the United States, stable growth in the 19-country eurozone and a slowdown in Japan and China. Read more

Trump chooses regional banker as key regulator of US banks

WASHINGTON (AP) — President Donald Trump has chosen a regional banker as his nominee for a key government position in bank regulation. Trump announced late Monday he is naming Joseph Otting as comptroller of the currency, heading a Treasury Department agency that is the chief overseer for federally chartered banks. If confirmed by the Senate, Otting will play a role in the Trump administration’s efforts to ease rules written under the Dodd-Frank law that stiffened financial regulation after the 2008-09 crisis. The Office of the Comptroller of the Currency charters and supervises national banks and savings and loans. Read more

Amazon offers prime discount to those on government benefits

NEW YORK (AP) — Amazon is making a play for low-income shoppers. The online leader is offering a discount on its pay-by-month Prime membership for people who receive government assistance. The move, announced Tuesday, is seen by some analysts as an attempt to go after rival Walmart’s lower-income shoppers. The world’s largest retailer has revamped its shipping program and improved other services to drive online sales growth as it tries to narrow the gap with Amazon. Read more

Existing climate efforts expected to keep US goals on track

SAN FRANCISCO (AP) — The momentum of climate change efforts and the affordability of cleaner fuels will keep the United States moving toward its goals of cutting emissions despite the Trump administration’s withdrawal from the Paris global accord, business and government leaders in a growing alliance said. New York, California and 11 other states representing nearly 40 percent of the U.S. economy, mayors of about 200 cities, and leaders of business giants including Amazon, Apple and Target have signed pledges to keep reducing their fossil-fuel emissions after President Donald Trump announced he would withdraw the U.S. from the 2015 Paris climate accord. Read more

Uber moves to repair tainted image with 20 firings, 1 hiring

DETROIT (AP) — Uber, the world’s leading ride-hailing company, has taken two big steps toward repairing its corporate image: It fired 20 employees for a host of harassment problems and hired an Apple marketing executive to rescue its tainted brand. Those fired for sexual harassment as well as bullying, discrimination and other behavior that violated company policies included both managers and lower-level workers. Some had retaliated against other employees after they complained about bad conduct, said Bobbie Wilson, a partner at the Perkins Coie law firm, which did the investigation. Read more

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