Business briefs: GM ignition switch deaths rise to 27

DETROIT – At least 27 people have died and 25 people have been seriously injured in crashes involving General Motors cars with defective ignition switches.

Attorney Kenneth Feinberg, who was hired by GM to compensate victims, updated the totals Monday.

Feinberg said he has received 178 death claims since August. Of those, 27 have been deemed eligible for compensation.

Twenty-five of the 1,193 injury claimants have also received compensation offers.

Feinberg has made 31 settlement offers, and 21 have been accepted thus far. None of the offers has been rejected, said Camille Biros, deputy administrator of the fund for Feinberg’s firm.

GM knew about faulty ignition switches in Chevrolet Cobalts and other small cars for more than a decade but didn’t recall them until February of this year. Feinberg will accept claims until Dec. 31.

China trade growth up sharply in September

BEIJING – China’s trade grew more strongly than expected in September, easing fears of a deeper slowdown in the world’s No. 2 economy.

Exports totaled $214 billion, up 15.3 percent from the same month last year, while imports of $183 billion were up 6.9 percent. Exports had grown 9.4 percent in August while imports had shrunk for two months running.

Beijing rolled out limited stimulus measures earlier this year after economic growth in the first three months sagged to 7.4 percent, the lowest in nearly two years. Growth improved only slightly to 7.5 percent in the second quarter.

September’s trade also improved on a sequential basis, with exports up 2.6 percent from August and imports expanding by 15.2 percent.

Economist Julian Evans-Pritchard of Capital Economics said the strong import growth likely reflected a temporary increase in demand for overseas components to be processed and re-exported, rather than increased domestic consumption.

Steris Corp. buying UK’s Synergy Health

Steris Corp. will spend about $1.9 billion to buy a British sterilization services company, as U.S. businesses continue to seek overseas incorporations despite attempts to make such tax-saving maneuvers less lucrative.

The medical products maker said Monday that the new company created by its combination with Synergy Health PLC will keep operational headquarters in Mentor, Ohio. But it will incorporate in the United Kingdom, where it will have a tax rate of about 25 percent starting in 2016.

Numerous U.S. companies have made such overseas acquisitions, which are known as inversions. These deals can help businesses lower the taxes they pay in the U.S., which has one of the highest corporate tax rates in the industrialized world.

Steris expects to close its deal by March 31. It will pay about $31.35 in cash and stock for each Synergy share.