Luxottica CEO Steps Down

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Luxottica Group SpA, the world's largest eyewear maker, said Andrea Guerra had stepped down as chief executive, as expected, after almost 10 years.

McDonald's Overhauls China Food-Safety Strategy

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McDonald's is overhauling its food-safety strategy in China after problems with a supplier hit the fast-food chain's image and eroded sales in the country.

Australia Axes Mining Tax

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Australia's conservative government repealed an unpopular tax on mining-company profits, fulfilling a pledge made during last year's national election and handing Prime Minister Tony Abbott a political victory at the end of a trying first year in office.

EU Queries Facebook, WhatsApp Rivals

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European Union antitrust officials have sent a detailed questionnaire to competitors and customers of Facebook and messaging service WhatsApp as they probe the proposed $19 billion deal.

China Gives Microsoft Deadline

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China has given Microsoft 20 days to provide a written explanation of what was described as problems with compatibility and bundling, adding pressure on the company amid an antitrust investigation.

U.S. Firms Feel Unwelcome in China

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Growing numbers of U.S. businesses say they feel unwelcome in China amid a crackdown on monopoly pricing and corruption that they say unfairly targets foreign companies.

Omnitracs to Buy XRS for $178 Million

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Fleet-management software company Omnitracs LLC agreed to acquire XRS Corp. for $178 million, expanding the privately held firm's presence in fleet management and compliance technology.

Commission Sinks London Mayor's Island Airport Plan

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A plan for a brand new airport for London championed by the city's mayor Boris Johnson has failed to secure the backing of a commission studying how to add hub capacity in the U.K.

Tax Firm to Revive Arthur Andersen Name

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A tax consultant is buying the rights to use the name of the accounting firm brought down by the Enron scandal.

Awaiting an Uptick in Pork Demand

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Hog prices are rebounding from six-month lows, as investors anticipate demand for pork chops and bacon will pick up soon.

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