Business briefs: China signs export agreement

China signed an agreement Tuesday to prohibit the use of lead paint on toys exported to the United States. Unveiled at the second joint U.S.-China summit on consumer product safety, the pact was negotiated in the wake of the recalls of millions of playthings decorated with paint containing the toxic metal. In the pact, Beijing also pledged to step up inspections of its exports.

SOUTH KOREAN TYCOONS

For the second time in less than a week, a South Korean appeals court has spared a tycoon from prison, continuing a custom of leniency for executives convicted of crimes ranging from assault to embezzlement. In the most recent case, Kim Seung-youn of Hanwha Group had his 18-month jail term for organizing and taking part in a revenge beating earlier this year shelved.

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