VIENNA (AP) -- Production of crude oil across all OPEC countries rose again in July, to above the level the cartel has agreed would be the upper limit _ and above the estimated level of global demand.The cartel said Thursday in a market report that its countries' production rose for a third month in July, by 173,000 daily barrels, to an average of 32.9 million barrels a day.That puts it above the 32.5 million barrels a day that the group had agreed in November would be their limit. The cartel ag

Aug. 10, 2017

LONDON (AP) _ Worries over a potential confrontation between the United States and North Korea weighed heavily on global stock markets on Wednesday but helped boost the price of assets, such as gold and the Swiss franc, that are considered safe havens in times of geopolitical peril.　 KEEPING SCORE: In Europe, France‘s CAC 40 fell 1.6 percent to 5,135 while Germany’s DAX was down 1.3 percent at 12,133. The FTSE 100 index of leading British shares was 0.7 percent lower at 7,489. Wall Street was po

Aug. 9, 2017

TEHRAN -- French automaker Renault signed on Monday a long-awaited joint venture deal with Iran worth  660 million euros ($779 million) to build up to 300,000 cars per year.The new deal puts Renault in partnership with Iran's state Industrial Development and Renovation Organisation (IDRO) and private firm Parto Negin Naseh.Renault will hold a 60-percent stake with IDRO and Parto Negin Naseh 20 percent each."The first phase of this accord worth 660 million euros provides for the annual manufactur

Aug. 7, 2017

PALO ALTO, Calif. -- Tesla is raising $1.5 billion as it ramps up production of the Model 3 sedan, its first mass market electric car.The company said Monday that it planned to offer senior notes due in 2025 and would use the offering's proceeds to further strengthen its balance sheet during rapid scaling of the Model 3.Last week CEO Elon Musk said investors should have "zero concern" about whether Tesla will be able to make 10,000 Model 3s per week by next year. Tesla just delivered the first 3

Aug. 7, 2017

WASHINGTON (AP) _ A drop in the unemployment rate to a 16-year low raises a tantalizing question about the job market: How much better can it get?　 Earlier this year, economists worried that the low unemployment rate meant businesses would struggle to find workers and that would drag down the pace of hiring. Those fears were heightened by a tiny job gain in March and modest hiring in May.　 Yet Friday‘s jobs report suggests such concerns are premature. Employers added 209,000 jobs, after a solid

Aug. 5, 2017

WASHINGTON (AP) _ The U.S. trade deficit narrowed in June as exports hit the highest level in 2 { years.　 The Commerce Department says the trade gap slid 5.9 percent in June to $43.6 billion. Exports of goods and services rose 1.2 percent to $194.4 billion, the highest amount since December 2014. Services exports reached a record $65.4 billion. Overall imports slipped 0.2 percent to $238 billion.　 So far this year, the trade deficit is up 10.7 percent to $276.6 billion.　 A shrinking trade gap ad

Aug. 4, 2017

WASHINGTON (AP) _ U.S. employers added 209,000 jobs in July, a second straight month of robust gains that underscore the economy‘s vitality as it enters a ninth year of expansion. The Labor Department said Friday that the unemployment rate slipped to 4.3 percent, matching a 16-year low first reached in May. 　 Growth in Americans’ paychecks, however, remains stubbornly slow. Average hourly pay rose by 2.5 percent from a year earlier, the same tepid annual pace as in June. That‘s below the 3.5 per

Aug. 4, 2017

NEW YORK -- Activist investor Nelson Peltz is attempting to secure a seat on the board at Procter & Gamble, seeking faster changes at the consumer products company.Peltz's Trian Fund Management LP, which owns about $3.3 billion worth of shares at Procter & Gamble, said Monday that it's interested in helping Procter & Gamble improve its performance, saying that its financial performance over the last 10 years has been disappointing. David Taylor was named CEO of the company two years ago and P&G

July 17, 2017

European Union regulators on Monday filed antitrust charges against Israeli drug-maker Teva for colluding to delay a cheaper generic version of modafinil, a blockbuster sleep drug.The European Commission said in a statement that it had informed Teva of its "preliminary view" that an agreement concluded with rival Cephalon was in breach of EU antitrust rules.Under the agreement, Teva committed not to market a cheaper generic version of modafinil, Cephalon's drug for sleep disorders, the EU said.T

July 17, 2017

China defended Thursday its purchase of iron ore from North Korea following criticism by US President Donald Trump and said it is "strictly and earnestly'' complying with U.N. sanctions.China stopped importing North Korean coal but total trade has risen, which prompted Trump to complain last week Beijing is failing to use its economic leverage to stop Pyongyang's pursuit of nuclear weapons. Chinese purchases of North Korea iron ore rose 34 percent from a year earlier in the first five months of

July 13, 2017