Business Briefs

Nation

China to study auto imports

WASHINGTON — China has told the U.S. that it will take steps that could lead to higher tariffs on imports of autos made by GM, Chrysler and Ford. Steve Collins, president of industry trade group the American Automotive Policy Council, said Wednesday that U.S. officials have told the three companies that China is expected to begin an investigation into their business practices as soon as next week. If the investigation concludes that the companies receive government subsidies, or sell products in China at below-market prices, China could slap tariffs on U.S. auto imports. The move is the latest trade dispute between the two countries, which are already fighting over steel pipes, chicken products, and pirated movies and music.

US Airways plans cuts

US Airways said Wednesday it will cut some 1,000 jobs next year, shift nearly all of its flying to its three hubs and Washington, and suspend several international routes. The retrenching is aimed at putting its airplanes where the money is — its hubs at Philadelphia, Phoenix, and Charlotte, N.C., as well as Washington. US Airways said flying from its hubs has been profitable. Once the changes are made early next year, 99 percent of its flying will be to or from those cities, up from 93 percent now. It’s also keeping its US Airways Shuttle between Boston, New York, and Washington. Wednesday’s changes include dropping Colorado Springs, Colo., which it said is too close to Denver to be profitable.

Continental adds partners

NEW YORK — Continental Airlines Inc. said Wednesday it signed two new partnerships with airlines. Continental, based in Houston, signed deals with Japan’s largest domestic airline ANA (All Nippon Airways) and Asiana Airlines, based in Seoul, South Korea. The airlines will cooperate with Continental through code sharing, frequent flyer programs, and passenger lounge access. Code sharing allows passengers to book legs of a flight on different airlines with one ticket. Continental officially switched Tuesday from SkyTeam — led by Delta and Air France-KLM — to the Star Alliance, which includes United, US Airways and Lufthansa.

GM executive OK with pay cuts

WASHINGTON — General Motors Co. CEO Fritz Henderson said Wednesday that government-imposed cuts to his own salary, and the pay of other executives at seven companies that received taxpayer money, were "fair” and "thoughtful.” Henderson was among executives whose base salaries will be slashed under a plan by Kenneth Feinberg, the Obama administration’s "pay czar.” Feinberg said last week he had ordered the seven companies to slash the base salaries of their top executives by an average of 90 percent and cut total compensation — cash, stock and perks — in half. GM and Chrysler are among the companies that received government funds.

Judge retains bank lawsuit

SEATTLE — A federal judge in Seattle has refused to dismiss a multibillion-dollar securities lawsuit stemming from the collapse of Washington Mutual Bank. U.S. District Judge Marsha J. Pechman threw out a few claims against former WaMu bank officers, directors, accountants and underwriters, but she refused to dismiss any of the defendants from the case. Plaintiffs ranging from huge pension funds to small individual investigators have accused bank executives of securities fraud. They say the lending standards and practices were misrepresented, questionable business practices were not disclosed and federal financial reports were misleading.

GOOGLE LISTS BLOCKED CALLS

WASHINGTON — Google Inc. said late Wednesday that its free messaging and calling service, Google Voice, blocks calls to fewer than 100 specific phone numbers likely to be adult chat lines and free conference call services. The company made the disclosure in a letter to the Federal Communications Commission. The FCC opened an inquiry into call blocking by Google Voice after AT&T Inc. complained that the service restricts calls to rural communities where local phone companies charge high connection fees.

Utility drops light bulb plan

COLUMBUS, Ohio — Consumers would no longer have to participate in an Ohio utility’s program that effectively forced them to buy overpriced energy-efficient light bulbs, under a revamped proposal the company presented to state regulators Wednesday. Akron-based FirstEnergy said Wednesday it will make the program voluntary. Under the old, short-lived plan, the company charged $21.60 for two light bulbs that cost only $3.50 to buy and distribute. To make up lost electricity sales, FirstEnergy planned to charge customers 60 cents a month for three years.

Hiding assets penalized

MIAMI — A wealthy accountant, Steven Michael Rubinstein, 55, who provided extensive help in the tax evasion probe of Swiss bank UBS AG, was sentenced to a year of house arrest Wednesday after admitting he concealed about $6 million in assets from the IRS.

From wire reports