Police: Indian factory workers kill CEO in dispute

KOLKATA, India — An angry mob of Indian workers wielding iron rods and stones beat the CEO of a jute factory to death in a dispute over increasing their working hours, police said Monday after arresting six workers.

The suspects — two detained Monday and four on Sunday — are expected to be charged with murder, vandalism and other crimes allegedly committed when the mob of about 200 workers stormed the office of 60-year-old H.K. Maheswari in the eastern Indian state of West Bengal, according to Hooghly District Police Superintendent Sunil Chowdhury.

Maheswari had denied their earlier request to work and be paid for 40 hours a week at the North Brook Jute Mill, instead of the current norm of 25. He had also proposed shutting down the mill for three days a week to limit mounting financial losses, according to the factory's general manager, Kiranjit Singh.

"The mill workers suddenly resorted to stone pelting while we were busy in a meeting," Kiranjit Singh said. At one point during Sunday's meeting, Maheswari looked out the window at the growing crowd and was struck in the head by two stones. He collapsed, at which point a large group of workers stormed the office, Singh said.

"The CEO was thrashed with iron rods, and he succumbed to his injuries very soon," Singh said. Both the general manager and a security guard were hospitalized for injuries and later released, while Maheswari died on the way to a hospital, police said.

West Bengal is known for its combative labor unions backed by political parties, and Chief Minister Mamata Banerjee immediately blamed the violence on unions run by opposition parties. The opposition denied any role in the attack, and said an independent investigation should be held before any blame is hurled.

On Monday, Banerjee sought to reassure the business community that her government did not tolerate union violence.

"There is no place for violence in a democracy," she said, while also telling members of the state assembly that a regular police investigation would suffice.

Meanwhile, work at the mill has been suspended indefinitely.

A funeral was planned for Tuesday for Maheswari, who is survived by his wife, two grown daughters and a son.

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Medtronic to buy Irish medical-device manufacturer

U.S. medical device manufacturer Medtronic has agreed to buy Ireland-based competitor Covidien for $42.9 billion in cash and stock.

The combined company would have its executive offices in Dublin, where it could benefit from Ireland's lower corporate tax rates. But the merged company would continue to operate in Minneapolis, where Medtronic employs more than 8,000, the companies said late Sunday in a statement.

Medtronic is paying a 29 percent premium on Covidien's stock price as of Friday. The shares had closed at $72.02 on the New York Stock Exchange.

Shares of both companies surged in premarket trading Monday.

The deal is the latest in a series of acquisitions by medical-device manufacturers. The companies are seeking to expand their offerings and contain costs in response to price curbs forced by the nation's new health care law.

In April, Zimmer Holdings, an orthopedic device maker, announced that it was buying Biomet in a $13 billion deal.

Medtronic makes pacemakers and insulin pumps, among other products. Covidien specializes in surgical equipment.

As a result of savings from the deal, Medtronic said it would spend an additional $10 billion over the next decade in investments, acquisitions and research and development in the United States.

"The medical technology industry is critical to the U.S. economy, and we will continue to invest and innovate and create well-paying jobs," Omar Ishrak, Medtronic's CEO, said in a statement.

In premarket trading Monday, Covidien shares climbed $22.68, or 31.5 percent, to $94.70 while Medtronic shares gained $4.16, or 6.9 percent, to $64.86.

Efforts by domestic companies to use mergers to reincorporate overseas for tax reasons have raised concern among some U.S. lawmakers. Ireland taxes corporate income at 12.5 percent, compared with a top marginal rate of 39.6 percent in the United States, according to the tax advisory firm KPMG.

Drug-maker Pfizer recently tried unsuccessfully to acquire U.K.-based Astra-Zeneca. The banana-seller Chiquita agreed to buy an Irish firm, Fyffes, in March.

Sen. Carl Levin, D-Michigan, and 13 other senators introduced a bill in May to restrict the deals.

"These transactions are about tax avoidance, plain and simple," Levin said in a statement. "Our legislation would clamp down on this loophole to prevent corporations from shifting their tax burden onto their competitors and average Americans."

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Alibaba gives more business details ahead of IPO

NEW YORK — Alibaba is pulling back the curtain a little bit more, providing more information about its partnership structure and financials ahead of its planned initial public offering.

China's biggest e-commerce company filed for an initial public offering in the U.S. in May. Its latest disclosure filed Monday is in part meant to squash criticism that it didn't provide enough details on its business in its initial filing.

Alibaba Group Holding Ltd. said in the filing that its partnership currently has 27 members, including 22 people from its management ranks such as CEO Jonathan Zhaoxi Lu. The partnership has the exclusive right to nominate a simple majority of the board's members.

Alibaba said net income for the quarter ended March 31 increased 31 percent to $883.4 million. Revenue rose 39 percent to $1.93 billion.

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China premier in UK visit to boost trade ties

LONDON — Chinese Premier Li Keqiang is visiting Britain for a trip that includes an unusual meeting with Queen Elizabeth II and talks aimed at boosting fragile diplomatic relations.

The three-day visit is expected to focus on trade and investment cooperation in areas including nuclear power, high-speed railways and finance. It also aims to rebuild political ties that have cooled since Cameron met with the Tibetan spiritual leader Dalai Lama in 2012.

Writing in The Times newspaper Monday, Li said he wanted to "present the real China so as to change misperceptions and ease misgivings."

Experts say the decision to grant Li the meeting with the queen — even though he is not a head of state — signals how keen Britain is to woo the Chinese.

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Foreign holdings of US Treasury debt increase

WASHINGTON — Foreign buyers of U.S. Treasury securities increased their holdings in April to another record high even though China cut back on its holdings for a third straight month.

The Treasury Department says total foreign holdings rose 0.2 percent to a record $5.96 trillion, up from $5.95 trillion in March. It marked the ninth consecutive monthly increase.

China, the largest foreign buyer of U.S. Treasury debt, reduced its holdings for a third month, cutting them by 0.7 percent to $1.26 trillion. Japan, the second largest buyer, boosted its holdings 0.8 percent to $1.21 trillion.

Foreign demand for U.S. Treasury debt is expected to remain strong this year, helped by more borrowing certainty given the congressional agreement to suspend the debt limit until March 2015.

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The Ticker

New Hub flagship for Liberty Travel

Liberty Travel's new Boston flagship location will open this week.

Called the Boston Travel Center, the three-floor, 10,000-plus square-foot space on Washington Street in Downtown Crossing is anchored by Liberty Travel and includes its sister brands specializing in business/corporate travel, Corporate Traveler and FCM.

TOMORROW

• Federal Reserve releases industrial production for May.
• National Association of Home Builders releases housing market index for June.

TUESDAY

• Labor Department releases Consumer Price Index for May.
• Commerce Department releases housing starts for May.
• Federal Reserve policy makers begin a two-day meeting to set interest rates.

WEDNESDAY

• Commerce Department releases current account trade deficit for the first quarter.

THURSDAY

• Labor Department releases weekly jobless claims.
• Freddie Mac releases weekly mortgage rates.
• Conference Board releases leading indicators for May.

Florence Savings Bank, a mutually owned savings bank serving the Pioneer Valley through 9 branch locations, announced that Susan M. Seaver has joined the bank as vice president/mortgage originator.

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Should new Mustang tires go on the front or back?

I have a 2011 Mustang GT 5.0-liter with 36,000 miles. It has the Brembo brake package and Goodyear F1 tires on it. I'm ready to replace the worn rear tires again with the new OE Goodyears. Last time I replaced the rear tires, I placed the new tires on the front and moved the older front tires to the rear. Now people are telling me that I should place the new tires on the rear drive-axle to reduce the chance of oversteer that might be induced by having too much fun in a curve. With an everyday car I believe that understeer would be the greatest concern, but with 412 horsepower and almost 400 pound-feet of torque, maybe the new tires should be on the back. Which end of the car should the two new tires be placed on my Mustang and is a nitrogen fill worthwhile?

On the back. Like you, my first thought was that new tires should be mounted on the front and the older, worn front tires moved to the rear. Because the front tires do a far higher percentage of braking and, of course, steer the vehicle, my instincts said put the best tires on the front.

However, since loss of traction from the front tires — the "understeer" you mention — is easier to correct than "oversteer" — loss of traction from the rear tires — the recommendation for replacing just two tires is to mount the new ones on the rear.

In short, correcting understeer involves "breathing" back the throttle or modulating brake pressure to help the front tires regain traction. Oversteer, on the other hand, requires an instantaneous steering correction in the direction the back end is trying to go in order to keep the front tires pointed where the vehicle is headed, while at the same time neutralizing the throttle — not accelerating and not decelerating — to stop any wheelspin. If and when the rear end regains traction and wants to snap back — so-called "overcorrecting," a complete misnomer — the steering must be straightened in time with the rear end snapping back to keep the front wheels pointed where the vehicle is traveling.

In the racing schools I teach, we label the correction for oversteer as a three-step process: correct/pause/recover, CPR for short, an easy acronym to remember.

Nitrogen contains no moisture and is less prone to pressure changes with temperature changes, so filling tires with nitrogen makes some sense, but only if you continue to use nitrogen to top up tire pressures.

I own a 2001 Dodge Dakota and would like to clean the engine. Is it OK to take it to a self-service car wash and power-wash it?

It must be. Ever seen a used car on a dealer lot with a dirty engine? It's OK to clean the engine and engine compartment as long as you cover any sensitive wiring and electronics and don't aim the high-pressure spray directly at these components. Remember, engines and drivetrains get wet when vehicles are driven in the rain. The wiring harnesses and connectors used on modern automobiles are designed to be relatively weatherproof.

Motoring Note: Regarding white smoke from the 2003 Honda, reader Paul Harvey offered a good suggestion. "I had a similar problem involving my 2002 Toyota Sienna. One mechanic told me it was caused by a sludge problem and would require an engine replacement. I had thought it was a head gasket problem and took the van to another mechanic, who diagnosed a bad PCV valve. After he replaced it, the problem was solved."

A stuck or clogged PCV valve typically forces oil into the combustion chamber, where it is burned, creating a bluish smoke. So checking the PCV system for proper function is a simple step to possibly explain the sudden appearance of smoke from the tailpipe. Thanks for the suggestion, Paul.

Paul Brand, author of "How to Repair Your Car," is an automotive troubleshooter, driving instructor and former race -car driver. Readers may write to him at: Star Tribune, 425 Portland Ave. S., Minneapolis, Minn. 55488 or via email at paulbrand@startribune.com. Please explain the problem in detail and include a daytime phone number.

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Youth get sage advice at Hub site

For six years, Jared Chung was a consultant at McKinsey & Company, the elite adviser to many of the world's most influential businesses and institutions, but his true passion was moonlighting as an adviser to low-income kids.

"I saw that disadvantaged youth were feeling uninformed and alone in planning for their futures," Chung said. "I also saw that I wasn't the only one who wanted to help. The challenge in America is there just aren't enough people who are willing or able to do one-to-one mentoring."

So in 2012, he gathered a hundred volunteers and launched CareerVillage.org, a website that crowdsources career advice for low-income high school students.

"Our program is simple: We promise students the answer to any question about any career, anytime," Chung said. "And we deliver on that promise with a website that automatically matches student questions to volunteers with relevant experience."

Today, CareerVillage has more than 1,300 online volunteers and has served more than 6,000 students at schools including Match Charter Public School and Codman Academy Charter Public School, both in Boston, as well as KIPP Academy Lynn Collegiate High School.

CareerVillage offers teachers training on how to use the website, as well as lesson plans, presentation slides, work sheets and group activities to help students figure out their interests and create a plan for how to get answers to their questions about careers.

"We found the website to be student-friendly, thoughtfully simple and a tool that provides an easy entry point for conversation that can be awkward or difficult to start for teenagers," said Jerre Maynor, KIPP Academy's director of college counseling.

Oren Falkowitz, CEO of Area 1 Security, a Menlo Park, Calif., computer security firm, became a CareerVillage volunteer more than a year ago after he was introduced to Chung while he was living in Boston.

"It's a simple way to make a big difference," said Falkowitz, who has answered dozens of questions — mostly about what it's like to be an entrepreneur — with help from colleagues and friends. "I've always had mentors in my life who have helped me. Without that kind of insight, it's very difficult."

This summer, CareerVillage will get free office space in Boston as one of the MassChallenge startup accelerator's 128 finalists, and it will begin recruiting more staff and volunteers for the upcoming school year.

"We have an incredibly ambitious goal," Chung said. "There are 8 million high school kids living in high-poverty communities in America. We're not resting until we put a real dent in career readiness.

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Boston connects to Beijing

New direct air service between Boston and China starts Friday, the latest in a string of nonstop international flights landed by Logan International Airport and perhaps the biggest coup to date.

"Of all the international flights, this is probably the biggest milestone," Massport CEO Thomas Glynn said. "In the global economy, China is the biggest player. Many nonprofit and for-profit businesses in Boston have activity in China."

Chinese carrier Hainan Airlines will start Boston-Beijing service four times per week — on Mondays, Wednesdays, Fridays and Saturdays. It will switch to daily flights from July 21 through August — peak China travel season amid strong demand, according to Joel Chusid, Hainan's U.S. executive director.

Hainan already has sold well more than half of the seats for its July and August flights on the 213-passenger Boeing 787 Dreamliner.

"Our bookings are coming in steady," Chusid said, noting Hainan started reservations "pretty early" and has an interline agreement for connections with JetBlue Airways. "It's met our expectations.."

Hainan has set up a Boston office with a general manager and sales, finance and customer support staff.

At Hainan's request, Massport is planning a June 23 meeting for airline officials with local business leaders on Massport's Asia task force that worked toward landing the China service and the nonstop Toyko flights that started in 2012. It will be followed by a luncheon with Gov. Deval Patrick.

"Lasting growth in the 21st-century global economy will come from our competitiveness in global markets," Patrick said in a statement. "Hainan's new flight will better serve our international passengers and build upon our growth strategy to open up Massachusetts to new markets to ensure that we remain competitive for many years to come."

Massport has rebated $540,000 in landing fees and will provide $350,000 in marketing support over two years to Hainan as incentives for starting the Boston service.

"This gives them a little cushion if it takes a while for them to build up their load factor," Glynn said.

Hainan's 36 business-class seats have 74-inch pitches — the space between a point on one seat and the same point on the seat in front of it. The lie-flat seats turn into beds with turn-down service, mattress pad, duvet, sheets, pillows, pajamas and slippers provided.

Menus rotate monthly and include Western and Chinese choices. Recent Chinese dinner selections for the a la carte business-class service from Beijing to Seattle included fried pork stuffed with water chestnut in sweet and sour lychee sauce, pan-fried shrimp mousse with tofu, and sauteed bitter gourd with pickle.

"It's not Panda Express," Chusid said.

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Supreme Court has 17 cases to decide by June's end

WASHINGTON — It's crunch time at the Supreme Court, where the justices are racing to issue opinions in 17 cases over the next two weeks.

The religious rights of corporations, the speech rights of abortion protesters and the privacy rights of people under arrest are among the significant issues that are so far unresolved.

Summer travel, European teaching gigs and relaxation beckon, but only after the court hands down decisions in all the cases it has heard since October.

In rare instances, the justices will put off decisions and order a case to be argued again in the next term.

This is also the time of the year when a justice could announce a retirement. But the oldest of the justices, 81-year-old Ruth Bader Ginsburg, has signaled she will serve at least one more year, and maybe longer.

The justices will meet Monday and again on Thursday to issue opinions, and could wind up their work by the end of the month.

A look at some of the cases that remain:

— Contraceptive coverage: Corporations are claiming the right to exercise religious objections to covering women's contraceptives under their employee health insurance plans, despite the new health law's requirement that birth control be among a range of no-cost preventive services included in health plans.

— Abortion clinic buffer zones: Abortion opponents are challenging as a violation of their speech rights a Massachusetts law mandating a 35-foot protest-free zone on public sidewalks outside abortion clinics.

— Cellphone searches: Two cases weigh the power of police to search the cellphones of people they place under arrest without first obtaining a warrant from a judge.

— Recess presidential appointments: A federal appeals court said President Barack Obama misused the Constitution's recess power when he temporarily filled positions on the National Labor Relations Board in 2012.

— TV on the Internet: Broadcasters are fighting Internet startup Aereo's practice of taking television their programming for free and providing it to subscribers who can then watch on smartphones and other portable devices.

— Greenhouse gases: Industry groups assert that environmental regulators overstepped their bounds by trying to apply a provision of the Clean Air Act to control emissions of greenhouse gases from power plants and factories. This case is unlikely to affect the recent proposal from the Environmental Protection Agency to slash carbon dioxide emissions from power plants by nearly one-third by 2030; that plan involves a different part of the same law.

— Union fees: Home health care workers in Illinois want the court to rule that public sector unions cannot collect fees from workers who object to being affiliated with a union.

—Securities fraud: Investors could find it harder to bring class-action lawsuits over securities fraud at publicly traded companies in a case involving Halliburton Co., a provider of energy services.

— "False" campaign claims: An anti-abortion group says state laws that try to police false statements during political campaigns runs afoul of the First Amendment.

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