Spain’s Repsol said it had suspended oil drilling in a block off Vietnam, where the prospecting in South China Sea waters claimed by China had infuriated Beijing and brought Chinese pressure on Vietnam to stop. Tension has been growing between Vietnam and China over energy development in the waterway, where …

The Dow Jones Industrial Average set a sixth-straight record Wednesday, closing above 22,000 for the first time, but experts point out that whatever goes up must always come down. The Dow closed up a fraction at 22,016. Healthy earnings reports from computer technology giant Apple, the world’s largest publicly traded …

India, one of the world’s largest markets for pharmaceuticals, is drawing up its first set of marketing rules for drugmakers, restricting gifts and trips offered to doctors and pharmacists to 1,000 rupees ($15), according to a draft proposal seen by Reuters. Such rules are common overseas, but are not set …

As the U.S. stock market hit a new all-time high Wednesday, key U.S. lawmakers staked out core positions for a looming battle that could impact economic performance for decades: reforming America’s complicated and much-maligned tax system. “Comprehensive tax reform represents the single most important action we can take now to …

The Trump administration is considering whether to initiate an action that could lead to the United States imposing tariffs and other trade restrictions on Chinese imports. U.S. news outlets say President Donald Trump will direct U.S. Trade Representative Robert Lighthizer to begin an investigation of China’s trade practices under a …

Egypt’s foreign reserves reached over $36 billion in July, a record high, which the prime minister described as “good news” as it shows that the economy is recovering, the central bank said Tuesday. The bank announced the increase in a brief statement saying that the figure is 4.7 billion dollars …

Some European oil majors have made inroads into the emerging U.S. offshore wind energy market, aiming to leverage their experience of deepwater development and the crowded offshore wind arena at home. Late entrants to the offshore wind game in Europe, which began with a project off Denmark 25 years ago …

Saudi Arabia has announced plans to build a “semi-autonomous” visa-free travel destination along its northwestern Red Sea coast.   The Red Sea area will include diving attractions and a nature reserve – and there are suggestions that the kingdom’s strict rules on women’s veils and gender segregation could be waived …

Qatar filed a wide-ranging legal complaint at the World Trade Organization on Monday to challenge a trade boycott by Saudi Arabia, Bahrain and United Arab Emirates, the director of Qatar’s WTO office, Ali Alwaleed al-Thani, told Reuters. By formally “requesting consultations” with the three countries, the first step in a …

The crocodile industry in Australia’s Northern Territory, a new report says, is worth more than four times the previous estimate of US $80 million. Officials hope the findings will give poorer aboriginal communities the chance to develop crocodile farming industries. The saltwater creature is the world’s largest reptile. In Australia, …

U.S. Treasury Secretary Steven Mnuchin on Friday said he would extend for two more months one of the extraordinary cash management measures that the Treasury is using to stave off a debt-limit default. Mnuchin said in a letter to House of Representative Speaker Paul Ryan that he would continue to …

The International Monetary Fund on Friday said that the U.S. dollar was overvalued by 10 percent to 20 percent, based on U.S. near-term economic fundamentals, while it viewed valuations of the euro, Japan’s yen and China’s yuan as broadly in line with fundamentals. The IMF’s External Sector Report, an annual …

Shares of Tesla rose nearly 1 percent on Friday ahead of a handover to customers of its first Model 3 sedans, the electric cars that Chief Executive Officer Elon Musk is betting will propel his company into the mass market. Tesla is counting on the Model 3 to help turn …

Moldova’s Moscow-backed President Igor Dodon said on Friday he hoped the ex-Soviet nation would be granted observer status to a Russia-led customs union before the end of 2017, despite a government push for closer integration with the European Union. Since his inauguration in 2016, Dodon has been at loggerheads with …

U.S. economic growth accelerated in April, May, and June, expanding at a 2.6 percent annual rate, says a new report by the Commerce Department. The gross domestic product data, published Friday, says consumer and business spending helped boost growth.  IHS Markit economist Sara Johnson says U.S. growth was also helped …

Japan says tariffs on U.S. imports of frozen beef will rise to 50 percent next month, from the current 38.5 percent. “The tariff will take effect automatically as the volume of the imported U.S. frozen beef exceeded the quota set by law,” Finance Minister Taro Aso said Friday. Under World …

Amazon is introducing express delivery to Singapore in its first direct effort to tap into surging online shopping in fast-growing Southeast Asia. The American e-commerce company announced Thursday it will begin operating a distribution facility bigger than a football field in the wealthy island nation. It promises to deliver tens …

We know that staying active and involved with family and friends can help keep our brains healthy as we get older. A new study in Portland, Oregon, combines those activities to gauge their effectiveness in warding off dementia. Faith Lapidus reports. …

The U.S. central bank remains upbeat about the US economy, choosing to keep interest rates unchanged at historic lows after concluding its 2-day meeting Wednesday. Amid an improving job market but weak inflation, the Fed characterized US economic growth as “moderate” — far slower than what President Donald Trump promised. …

U.S. Treasury Secretary Steven Mnuchin on Wednesday urged federal lawmakers to raise the federal debt limit before they leave Washington for their August recess to avoid increased interest costs to taxpayers and market uncertainty about a potential default. Mnuchin told a Senate Appropriations subcommittee that maintaining U.S. creditworthiness was of …

President Donald Trump plans to announce Wednesday that electronics giant Foxconn will build a liquid crystal display panel plant in Wisconsin, according to an invitation to the event obtained by The Associated Press. The AP obtained the invitation from a person with knowledge of the afternoon gathering at the White …

The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security. Sanctions legislation overwhelmingly approved by the U.S. House of Representatives on Tuesday has angered EU officials: they see it as …

 Amazon has some job openings. Lots of them. The company said Wednesday that it’s looking to fill more than 50,000 positions across the U.S.   It’s planning to make thousands of offers on the spot on Aug. 2, when it opens the doors to potential hires at 10 Amazon.com Inc. …

A decade-long battle by luxury brands to defend their image neared an end on Wednesday when an adviser to Europe’s top court said Coty can block a German retailer from selling its beauty products via online marketplaces. “A supplier of luxury goods may prohibit its authorized retailers from selling its …

Peruvian authorities have launched a major crackdown on modern slavery after a warehouse fire in Lima last month killed four workers, including two who were trapped inside a padlocked container on the roof. Officials said they had shut down six furniture factories in the capital on Monday in an operation …