US Business News

China Weighs New Gas Tax to Aid Electric-Car Effort

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China is weighing a new tax on gasoline to fund efforts to make electric cars more palatable to consumers, according to the chairman of electric-car maker BYD.

FountainVest Acquires Control of Key Safety

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Chinese private-equity firm FountainVest Partners acquired a controlling stake in U.S.-based Key Safety Systems, the latest in a string of increased deal activity in the automotive supply chain.

Telefónica Eyes Deal by Mid-2015

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Spanish telecommunications company Telefónica said it expects to complete the $9.82 billion acquisition of Vivendi's Brazilian unit, GVT, by mid-2015.

Angry Birds Chief to Step Down

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Finland's Angry Birds maker Rovio Entertainment has been struggling to refresh its lineup and change its revenue model.

OSI Employees Arrested in China

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Six OSI Group employees were arrested in China, more than a month after authorities suspended the U.S. food company's operations, accusing one of its subsidiaries of selling expired products to fast-food companies.

Toys 'R' Us Loss Widens

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Toys 'R' Us posted a wider loss in its fiscal second-quarter as discounts took a toll on the bottom line, even as sales rose.

Malaysia Airlines to Shed 30% of Its Workforce

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The state fund that controls Malaysia Airlines announced the largest round of layoffs in the company's history, the centerpiece of a plan to revive a carrier battered by two recent air tragedies, as well as years of weak earnings.

MMX CEO Resigns

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The chief executive of Brazilian mining company MMX Mineração e Metálicos SA resigned as the company faces a cash squeeze and is trying to find partners or sell assets to stay afloat.

Regulators Seek More Information on Reynolds, Lorillard Deal

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Federal regulators have requested more information on Reynolds American's pending deals to buy Lorillard and divest certain brands to Imperial Tobacco Group.

Lufthansa Threatened With Expanded Strikes

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The pilots union said that it could widen industrial action in progress at its budget subsidiary Germanwings to the group's other airlines over if it doesn't come up with a new offer on retirement benefits.

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