Bloomberg Bellamy’s Australia Ltd., the infant formula maker whose market value ballooned in 2015 amid surging Chinese sales, ousted its two top executives after forecasting plunging profits. The stock fell the most on record in Sydney. Bellamy’s has racked up stockpiles of unsold infant formula and excess ingredients after making overambitious revenue estimates, the Launceston, Tasmania-based company said in ...

  AP China’s auto market had a bumper year in 2016 as sales grew by 15 percent, with drivers rushing to buy cars before a tax break expired at the end of the year. The data released on Thursday showed that automakers sold 24.4 million cars, minivans and sport-utility vehicles in China. Booming sales, driven by strong demand for SUVs, ...

  We are in the throes of another round of what the economist Joseph Schumpeter memorably called “creative destruction.” Two icons of American business – Macy’s and Sears — are struggling. Macy’s plans to close 100 stores to improve profitability, and Sears has sold its Craftsman tools line for roughly $900 million to raise cash. Conceivably, one or both of ...