Business

Korean carmakers Hyundai Motor Co and affiliate Kia Motors Corp will pay $350 million in penalties to the U.S. government for overstating fuel economy ratings in what officials said on Monday was the biggest settlement of its kind.

New Zealand's competition regulator has cleared online travel giant Expedia Inc to buy Wotif.com Holdings Ltd, leaving just one final regulatory hurdle for the A$699 million ($610 million) deal.

The International Olympic Committee has hailed a United Nations resolution recognizing the autonomy of sport as an important tool that will help foster political neutrality as well as lead to less boycotts and discrimination.