OPEC oil production fell in December but remains well above levels envisaged under a recent deal due to take effect from January, the cartel's new monthly report showed Wednesday.

Detroit, the once-thriving capital of the U.S. automobile industry, has seen most of its jobs move overseas, leaving the remaining workers at the "Big Three" auto plants wondering about the future.

As the jobs have vanished so has the security and benefits they once offered that helped make the American middle class the engine of the world economy.

Hong Kong's stock market regulator has filed a lawsuit against major banks Standard Chartered and UBS along with consultancy firm KPMG over a 2009 initial public offering on the city's bourse.

The Securities and Futures Commission (SFC) on Monday filed documents to the High Court alleging "market misconduct" in connection with China Forestry Holdings's IPO, worth $217 million, and the firm's financial statements for 2009 to the first half of 2010.

The dollar recovered against its major peers Wednesday after taking a battering the previous day but equity traders were on edge owing to uncertainty about the prospects of a Donald Trump presidency.

British business leaders welcomed Theresa May on her Brexit clarity Tuesday but insisted the UK prime minister must deliver on her pledge to secure access to the EU single market.

The British pound shot to nearly $1.24 Tuesday after Prime Minister Theresa May declared that any Brexit deal would be put to a parliamentary vote, in a speech seen as less hawkish than feared.

Chinese President Xi Jinping presented himself as a champion of globalization Tuesday, lecturing the world elite in Davos on the dangers of protectionism and the futility of trade wars

Iran will build a mobile phone network and petrol terminal in Syria under deals signed in Tehran on Tuesday during a visit by Prime Minister Imad Khamis, Iranian media reported.

The five deals include a "licence for a mobile phone operator, the transfer of 5,000 hectares for the creation of a petrol terminal and 5,000 hectares for farmland" in Syria, according to the IRNA news agency.

An Iranian man accused of helping to embezzle billions of dollars while the country evaded international oil sanctions has been arrested after a lengthy international manhunt, media reported Monday.

Saudi Arabia's Energy Minister Khaled al-Falih said Monday it was "unlikely" oil producers would need to extend a six-month cap on output, pointing to a pick-up in global demand.