July 22, 2013 4:43 AM
The British Drugmaker GlaxoSmithKline said that some of its executives in China appeared to have broken the law as part of a major bribery scandal. The company also said that proposed changes to its operations would result in lower prices of its medicines in China. GlaxoSmithKline has sent its head of emerging markets and two other top executives to China to lead the drugmaker's response to an unfolding crisis over alleged bribery and corruption. China's central bank announced long-awaited interest rate reforms, scrapping the previous floor on the rates that banks charge clients for loans.