Global Glance: Some CEOs say no more to Trump; Bond portfolio could soon shrink

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

Asked to serve, some CEOs say no more to Trump

TRENTON, N.J. (AP) — First it was the leader of a major U.S. pharmaceutical, then the CEO of an athletic gear company, and before the day had ended, the chief executive of a $170 billion tech giant. Three of the nation’s top executives resigned from a federal panel created years ago to advise the U.S. president. Now, others are pushing for more executives to refuse to serve President Donald Trump after what many believe to be an inadequate response to a rally of white supremacists in Charlottesville, Virginia, that left one dead and dozens injured. Read more

Top Fed official tells AP: Bond portfolio could shrink soon

NEW YORK (AP) — A top Federal Reserve official suggested Monday that the Fed will likely announce next month that it will begin paring its bond portfolio – a step that could lead to slightly higher rates on mortgages and other loans. In an interview with The Associated Press, William Dudley, president of the Federal Reserve Bank of New York, said he thinks the Fed has adequately prepared investors for a reduction in the portfolio, which swelled after the 2008 financial crisis as the Fed bought bonds to reduce long-term rates. With the economy now much healthier, the Fed is ready to begin trimming its bond holdings. Read more

China says US trade probe would violate international rules

BEIJING (AP) — China criticized President Donald Trump’s order for a possible U.S. trade investigation of Beijing’s technology policies as a violation of global rules and said Tuesday it will “resolutely safeguard” Chinese interests. Trade groups for technology companies welcomed Trump’s order Monday but Chinese officials said Washington was violating the spirit of its trade commitments. They said Beijing will take unspecified action if Chinese companies are hurt. Read more

Target buys tech company to help it offer same-day delivery

NEW YORK (AP) — Target is buying a delivery logistics company to help it offer same-day delivery service to in-store shoppers. Software made by San Francisco-based Grand Junction connects retailers with about 700 delivery companies around the country that pick up items from distribution centers and take them to customers. Expanding delivery and making it faster have been key areas retailers have focused on to attract convenience-seeking shoppers. Read more

High-tech US plants offer jobs even as the laid-off struggle

NORWOOD, Ohio (AP) — In the state-of-the-art laboratory in a building the size of 27 football fields, workers use breakthrough technology to build jet engines that run on less fuel at higher temperatures. The open jobs there are among 30,000 manufacturing positions available across Ohio. But many of Ohio’s unemployed don’t have the needed skills. This is the paradox of American manufacturing jobs in 2017. Donald Trump won the presidency in great measure because he pledged to stop American jobs and manufacturing from going overseas. It’s true that many jobs have gone overseas, to places where workers are willing to toil for less money. Yet at the same time, federal statistics show nearly 390,000 such jobs open. The problem? Many of these are not the same jobs that for decades sustained the working class. Read more

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