WASHINGTON – The World Trade Organization says China broke global trade rules by failing to comply with an earlier WTO ruling and continuing to impose duties on specialty steel imports.
The decision announced Friday was a victory for the United States and steelmakers AK Steel in West Chester, Ohio, and Allegheny Ludlum in Waynesboro, Pennsylvania.
The case dates back to 2010 when China imposed duties on a high-tech specialty steel used in power plants. Saying the duties violated trade rules, the U.S. took the case to the WTO and won.
Despite the ruling, China reintroduced duties on the steel in 2013. The United States went back to the WTO, charging that China was not complying with the earlier decision.
Ride hailing may cut drink-related deaths
The introduction of low-cost, on-demand transportation such as UberX, Lyft and Sidecar could reduce the rate of alcohol-related deaths by as much as 3.6 percent, according to new independent research at Temple University’s Fox School of Business.
The study is based on data from the California Highway Patrol about alcohol-related vehicular fatalities from 540 townships in California from January 2009 through September 2014.
The Temple researchers, Brad Greenwood and Sunil Wattal, will present their findings at the Academy of Management’s annual meeting in August.
The research found that the introduction of more expensive transportation services, such as Uber, had little effect on alcohol-related fatalities, but the introduction of Uber’s cheaper service, UberX, made a noticeable difference.
GM hopes price cut spurs Buick sales
General Motors is dropping the sticker price of its Buick Regal sedan as it tries to reverse sagging brand sales and counter a consumer migration to crossovers and sport utility vehicles.
GM announced the new pricing strategy in a letter to Buick’s dealer council this week.
While the price of the lowest trim model remains the same, the sticker for the 2016 Regal GS, the fanciest model, drops to $34,990, about $3,300 lower than the 2015 model. Prices for other versions fall $1,000 to $2,500.
EU antitrust chief looks at FedEx plan
The European Union is opening an in-depth probe into whether FedEx’s proposed $4.9 billion takeover of Dutch company TNT would strangle competition in the massive market for small package deliveries.
EU antitrust chief Margrethe Vestager said Friday she had to "make sure that FedEx’s takeover of TNT would not impede effective competition and would not lead to higher prices for consumers."
The FedEx-TNT deal came two years after UPS dropped its own takeover bid for the Dutch company, citing objections from EU regulators fearing the combined company would become too dominant.
UPS buys Coyote freight brokerage
UPS will spend $1.8 billion to acquire Coyote Logistics as it maneuvers for a slice of the burgeoning freight brokerage business.
Coyote’s carrier network includes more than 35,000 trucking companies. The Chicago company will become a UPS subsidiary.