Business Briefs – May 15, 2017

China’s Xi Outlines Plans for Wide Cooperation in Trade Plan

BEIJING (AP) – Chinese President Xi Jinping has expressed ambitious hopes for Asian and European governments to work more closely on finance, law enforcement and a broad range of other issues, as leaders from 30 nations issued a joint endorsement of a Beijing-led trade initiative. The “Belt and Road” project is China’s biggest foreign initiative to date as Beijing looks for global stature to match its economic success.

Global Tailpipe Tests Vastly Underestimate Diesel Pollution

WASHINGTON (AP) – After the Volkswagen diesel cheating scandal, scientists looked worldwide and found government lab tests don’t accurately measure real-world tailpipe pollution. The researchers found that actual pollution from all diesel trucks, cars and buses is more than 50 percent higher than what lab tests show. And they say that translated into 38,000 extra deaths in 2015. The researchers and other experts say emission testing is not simulating real-world conditions.

Tronc in Talks With Wrapports To Acquire Chicago Sun-Times

CHICAGO (AP) – A for-sale sign has been put on the Chicago Sun-Times, and Tronc, the company that operates rival Chicago Tribune, has announced it is interested in owning the newspaper. Wrapports says the Sun-Times would operate as a separate unit with an independent newsroom if the deal goes through. The Justice Department says it will monitor the sale process.