Global Glance: May’s UK election gamble adds uncertainty to Brexit negotiations; SoftBank buys robotics leader Boston Dynamics

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

May’s UK election gamble backfires, adds uncertainty to Brexit negotiations

LONDON (AP) — Spectacularly punished by voters who took away her majority in Parliament, a politically wounded Theresa May sought to soldier on Friday as Britain’s prime minister, resisting pressure to resign after the failure of her high-stakes election gamble made the massive challenge of untangling Britain from the European Union only more complex and uncertain. Having called an early election in hopes of getting an increased majority that could have strengthened her hand in Britain’s exit talks with the EU, May instead saw her majority evaporate completely – leaving her fortunes hanging by a thread and dark clouds over the Brexit negotiations just 10 days before they are due to start. Read more

SoftBank buys robotics leader Boston Dynamics from Alphabet

TOKYO (AP) — Japanese internet, solar and technology company SoftBank Group Corp. is buying robotics pioneer Boston Dynamics from Alphabet Inc., Google’s parent. Terms of the deal, announced Friday, including when it might close, were not disclosed. Tokyo-based SoftBank, which offers the chatty childlike Pepper companion robot, said the purchase underlines how robotics is a key part of its business. Read more

House votes to roll back post-2008 financial rules

WASHINGTON (AP) — The Republican-led House has moved closer to fulfilling President Donald Trump’s goal of doing “a big number” on Dodd-Frank, the landmark banking law created after the 2008 economic crisis that was designed to prevent future meltdowns. But the effort will likely require some major changes to bring about Democratic support in the Senate. Such support was missing entirely when the House voted 233-186 Thursday for a bill that would undo much of Dodd-Frank. House Republicans recognize the uphill climb, but were happy to chalk up a victory. Read more

US bucks trend amid increases for clean energy research

BEIJING (AP) — Energy ministers from around the world gathered in Beijing this week to report increased spending to help counter climate change. Yet one prominent voice, that of U.S. Energy Secretary Rick Perry, delivered a starkly countervailing message as the Trump administration seeks to roll back spending on clean energy and promote fossil fuels. India, France, Norway, Canada, Australia, Japan and others said during a private meeting of ministers earlier this week that they were on track to double government research budgets. Read more

Q&A: What leaving the Paris climate deal means for business

The impact of President Donald Trump’s decision to withdraw from the Paris climate agreement will differ for companies depending on what they produce and whether they have sales overseas. Formally, it may take more than three years for the U.S. to exit, but Trump said last week that his administration will stop all work on the accord immediately. Read more

Verizon’s first move with Yahoo is to ditch 2,100 jobs

NEW YORK (AP) — About 2,100 jobs are on the chopping block as Verizon prepares to combine Yahoo and AOL for a digital advertising offensive. Yahoo’s shareholders on Thursday approved the $4.5 billion sale of its key businesses to Verizon. The deal is expected to close by Tuesday. AOL and Yahoo will cut 15 percent of the 14,000 workers they now employ, or about 2,100 jobs, said a person familiar with the matter who requested not to be identified discussing the cuts. Read more


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