Global Glance: Senate GOP health bill would reshape Obama law; Boeing beats Airbus in order race at Paris show

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

AP sources: Senate GOP health bill would reshape Obama law

WASHINGTON (AP) — Senate Republicans would cut Medicaid, end penalties for people not buying insurance and erase a raft of tax increases as part of their long-awaited plan to scuttle President Barack Obama’s health care law, congressional aides and lobbyists say. After weeks of closed-door meetings that angered Democrats and some Republicans, Senate Majority Leader Mitch McConnell planned to release the proposal Thursday. The package represents McConnell’s attempt to quell criticism by party moderates and conservatives and win the support he needs in a vote he hopes to stage next week. Read more

Foxconn founder: US investment agreement expected by August

TAIPEI, Taiwan (AP) — The chairman of Taiwan’s Foxconn, which assembles Apple’s iPhones and other consumer electronics, said Thursday it expects to release investment plans by early August for at least three U.S. states following its announcement it would spend up to $7 billion to build a factory in the United States. Terry Gou gave no indication where Foxconn might locate its planned display panel factory. Gou announced plans for the factory in January, setting off a scramble by leaders of several states to attract the investment, which he said might generate as many as 50,000 jobs. Read more

Boeing beats Airbus in order race at Paris show

PARIS (AP) — Boeing flew past Airbus in the race for plane orders at this year’s Paris Air Show, thanks to a surge in interest in the newest version of the 737. High interest from Asian and Iranian airlines notably boosted sales for both plane makers, dispelling some concerns of slumping demand. Boeing reported Thursday it registered firm orders or promised orders for 571 planes this week, worth $74.8 billion at list prices. Airbus announced 326 orders or commitments worth $40 billion. Read more

Government health insurance markets holding up – barely

Enough insurers are planning to sell coverage on the Affordable Care Act’s insurance exchanges next year to keep them working – if only barely – in most parts of the country. Competition in many markets has dwindled to one insurer – or none in some cases – and another round of steep price hikes is expected to squeeze consumers who don’t receive big income-based tax credits to help pay their bill. Read more

Home sales up in May, but buyers face sharply rising prices

WASHINGTON (AP) — Americans shopping for a house are facing an intensifying set of pressures: Fewer and fewer homes are being listed for sale, while prices are climbing at a pace that most incomes can’t possibly match. The May sales report released Wednesday by the National Association of Realtors shows a housing market unable to meet the demand from would-be buyers. Sales edged up 1.1 percent in May to a seasonally adjusted annual rate of 5.62 million, a decent gain amid a relatively stable job market with a robust 4.3 percent unemployment rate. Read more


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