A House Republican proposal backed by President Donald Trump would set up tax-deferred investment accounts with $1,000 for infants born across the U.S. It builds on the concept of baby bonds, which some cities have begun introducing as a way to reduce gaps between wealthy people and poor people.

Southeast Asia’s largest ride-hailing company, Grab Holdings, said Tuesday that it plans to merge with U.S.-based Altimeter Growth Capital in a deal that would value it at nearly $40 billion and allow it to trade on the Nasdaq Stock Market.