Global Glance: Senate scrambles to save health bill; ruling in travel ban leaves questions unanswered

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

Senate leaders scramble to save health bill amid defections

WASHINGTON (AP) — Senate leaders scrambled Tuesday to rescue their health care bill, in deepening jeopardy as opposition from rebellious Republicans intensified. The defections loomed as Congress’ nonpartisan budget referee said the measure would leave 22 million more people uninsured by 2026 than President Barack Obama’s law. Majority Leader Mitch McConnell, R-Ky., was hoping to staunch his party’s rebellion, a day after the Congressional Budget Office released its report. He’s been aiming at winning Senate passage this week, before a weeklong July 4 recess that leaders worry opponents will use to weaken support for the legislation. Read more

Ruling in travel ban leaves myriad questions unanswered

WASHINGTON (AP) — The Supreme Court’s decision to partially reinstate President Donald Trump’s temporary travel ban has left the effort to keep some foreigners out of the United States in a murky middle ground, with unanswered questions and possibly more litigation ahead. The justices ruled Monday in an unsigned opinion they would hold a full hearing on the case in October. In the meantime, the administration can bar travelers from six majority-Muslim countries from the U.S. if they don’t have a “credible claim of a bona fide relationship” with someone or some entity in the country. It’s unclear what will ultimately constitute a “bona fide relationship,” though the ruling suggested that an American job, school enrollment or a close relative could meet that threshold. Read more

Draghi: Considerable stimulus still needed despite recovery

FRANKFURT, Germany (AP) — European Central Bank head Mario Draghi says the bank’s stimulus efforts are still needed even as the economy gathers speed and that any scaling back will come gradually. Draghi’s said in a speech Tuesday at an ECB conference in Sintra, Portugal, that “a considerable degree” of stimulus support was still needed and that “we need persistence in our monetary policy.” He said that any changes would be guided by “prudence” and “will have to be made gradually.” Market observers are watching for signals about when the ECB will start reducing its 60 billion euros ($67 billion) per month in bond purchases, a program that aims to increase inflation and growth. Read more

EU fines Google a record 2.4 billion euros in antitrust case

BRUSSELS (AP) — The European Union slapped a record 2.42 billion-euro ($2.72 billion) fine on internet giant Google on Tuesday for taking advantage of its dominance in online searches to direct customers to its own online shopping business. European regulators gave the company based in Mountain View, California, 90 days to stop or face more fines of up to 5 percent of the average daily worldwide revenue of parent company Alphabet. Google says it is considering an appeal. Read more

Premier Li: China can control financial risks as debt rises

BEIJING (AP) — China’s top economic official tried to quell fears surging debt might threaten growth, saying Tuesday financial risks are “generally under control” and Beijing can achieve this year’s development targets. Speaking at a meeting of the World Economic Forum in the northeastern city of Dalian, Premier Li Keqiang also gave a ringing endorsement of free trade and said China will stick to its commitments to fight climate change. Li sought to dispel concern about the rapid rise in Chinese debt since the 2008 crisis, which private sector analysts cite as the biggest potential risk to the world’s second-largest economy. Read more

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