Wal-Mart Stores Cuts Staff in China 

Wal-Mart Stores is cutting nearly 30 directors and midlevel managers in China, where the retailer is pushing to contain costs and improve slumping sales.

 
Toyota Says Takata Rupture in Japan Happened in a Toyota 

Toyota Motor said the recent case of a Takata-made air bag exploding in Japan happened in a Toyota vehicle.

 
Standard General to Swap RadioShack Shares 

Standard General has agreed to give up some of its potential stake in a recapitalized RadioShack in exchange for four board seats, a move that could help the struggling electronics chain stave off a bankruptcy filing.

 
Rio Tinto OKs Canadian Diamond Mine Development 

Rio Tinto PLC approved a $350 million extension at a remote subarctic diamond mine in Canada that the resources group controls with Dominion Diamond, saying the move demonstrates its confidence in future demand for the precious gemstones.

 
Court Bars Motorola Antitrust Case Against LCD Makers 

A federal appeals court in the U.S. on Wednesday threw out antitrust claims by phone maker Motorola Mobility that sought damages from Asian electronics companies for alleged price fixing on liquid-crystal-display panels.

 
Medtronic-Covidien Merger Gets U.S. Clearance 

U.S. authorities approved Medtronic Inc.'s $43 billion merger with fellow medical device maker Covidien after requiring the spinoff of a drug-coated catheter business.

 
NHTSA Demands Chrysler Expand Recall of Takata Air Bags 

U.S. auto-safety regulators are demanding Chrysler Group expand its recall of potentially defective Takata air bags nationwide and begin notifying customers of the new campaign by Monday.

 
Lawsuit Alleges Palladium, Platinum Prices Manipulated 

Goldman Sachs, HSBC, Standard Bank, and German chemical maker BASF have been accused of manipulating platinum and palladium prices in a lawsuit filed in New York by a jeweler.

 
Woolworths Says Share Sell-Off Overdone 

Woolworths, one of Australia's two largest supermarkets, said investors over-reacted to its soft first-quarter sales result and that trading conditions have improved in recent weeks.