Bloomberg China’s crackdown on illegal steel mills, which has sent prices to two-year highs, would target about 6 percent of output in the nation’s biggest steel-making city of Tangshan, according to consultancy Mysteel Research. Tangshan’s total output of about 100 million metric tons — around an eighth of the nation’s supply — includes about 6 million tons of steel ...

  Bloomberg Japan unexpectedly cut its reading of third-quarter economic growth to an annualized 1.3 percent, from a preliminary estimate of 2.2 percent expansion. The revision was driven by drops in business spending and in private inventories. Meanwhile, the government’s projection for the overall size of the economy rose, thanks to changes in the way gross domestic product is calculated. ...

  Bloomberg Starbucks Corp. wants to persuade its coffee-loving customers to come back for lunch, after stumbling several times in previous attempts to expand its food offerings. The beverage chain is seeking to boost the food category to about 25 percent of total US sales, compared with 20 percent now, said Chief Operating Officer Kevin Johnson, who will take the ...