Global Glance: McConnell rolling out new GOP health bill; Royal Bank of Scotland in $5.5B settlement

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

McConnell rolling out new GOP health bill to uncertain fate

WASHINGTON (AP) — Senate Republican leaders are trotting out their new, but reeling, health care bill and angling toward a showdown vote next week amid signs that they have lots of work ahead to win over GOP lawmakers or face a resounding failure. Senate Majority Leader Mitch McConnell, R-Ky., planned to present the revamped measure rolling back much of President Barack Obama’s health care law to GOP senators Thursday. He’s aiming at a do-or-die vote next week on whether to begin debating the bill – a roll call for which he’s got no margin for error. Read more

Royal Bank of Scotland in $5.5B settlement over US mortgages

LONDON (AP) — Royal Bank of Scotland said Wednesday it has reached a $5.5 billion settlement in the United States over the mis-selling of mortgage-backed securities before the financial crisis – a key milestone in the institution’s efforts to put its past sins behind it. The deal with the Federal Housing Finance Agency – the conservator of Fannie Mae and Freddie Mac – resolves claims regarding the issuance and underwriting of approximately $32 billion (25 billion pounds) of residential mortgage-backed securities. The bank must still resolve outstanding civil and criminal claims with the Department of Justice. Read more

Yellen says Fed watching slowdown in inflation

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen raised the possibility Wednesday that the Fed would consider slowing the pace of its interest rate increases if inflation remained persistently below its target level. For the moment, Yellen signaled no change in policy, indicating that the three rate hikes since December will likely be followed by one more hike this year. She also said the Fed wants to begin gradually trimming its massive $4.5 trillion in bond holdings later this year, a move that will also put upward pressure on interest rates. Read more

Trump seeks consensus with France despite differences

PARIS (AP) — President Donald Trump and his French counterpart, Emmanuel Macron, are looking to set aside differences on trade and climate change and find common ground as they meet Thursday ahead of Bastille Day celebrations in Paris. Trump arrived in the French capital after an overnight flight from Washington and hours before his meeting with Macron to tackle potential solutions to the crisis in Syria and broader counterterrorism strategies. Read more

McDonald’s super-sized order: Get people visiting more

ROMEOVILLE, Ill. (AP) — McDonald’s is trying to reverse its fading popularity in the United States by catching up to a landscape that has evolved around it. The supersized efforts include expanding delivery, digital ordering kiosks in restaurants, and rolling out an app that saves precious seconds in ordering times. CEO Steve Easterbrook says the definition of convenience has changed, and that the company hasn’t modernized. Read more

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