World shares gain…OPEC ministers meet…Nissan discloses more dubious inspections
TOKYO (AP) – Shares rebounded in Europe and Asia on Friday as worries over U.S.-China trade friction were calmed by conciliatory comments from Beijing. Futures point to a glum start on Wall Street. U.S. benchmark crude fell below $51.50 a barrel. The dollar rose against the yen and weakened against the euro.
VIENNA (AP) – OPEC countries are mulling a possible cut to oil production in an attempt to stabilize prices as they meet for a second straight day. Heavyweight Saudi Arabia has been pushing a cut of about 1 million barrels a day, but the oil cartel was not able to make a decision on Thursday. Analysts say they’re likely waiting to hear from non-OPEC Russia to better coordinate the cut. Oil prices have fallen about 25 percent in recent months.
TOKYO (AP) – Nissan, the Japanese automaker under scrutiny after its former chairman Carlos Ghosn was arrested on suspicion of financial misconduct, is recalling 150,000 vehicles spanning 11 models in Japan for dubious inspections for brakes and steering. Nissan Motor Co. Corporate Vice President Seiji Honda told reporters Friday that a recall will be issued next week, and measures will be taken to prevent a recurrence. The latest recall comes on top of earlier recalls over faulty testing, which had resulted in more than 1.1 million vehicles sold in Japan being recalled for proper inspections.
TOKYO (AP) – Japan is set to approve legislation that would officially open the door to foreign workers to do unskilled jobs and possibly eventually become citizens. Lawmakers were due to vote late Friday on a government proposal to allow hundreds of thousands of foreign laborers to live and work in a country that has long resisted accepting outsiders. It’s seen as an unavoidable step as the country’s population of about 126 million rapidly ages and shrinks.
BERLIN (AP) – Official figures show that factory production in Germany declined in October in another sign that Europe’s largest economy may be slowing. The Economy Ministry said Friday that industrial production dropped 0.5 percent in October over September after adjusting for seasonal and calendar factors. The drop erased modest gains made in the last two months.