Business news digest

NATION

U.S. trade deficit rises
9.3% to $63.1 billion

WASHINGTON — The U.S. trade deficit in November rose to the highest level in 14 months, reflecting record foreign crude oil prices. The deficit with China declined slightly while the weak dollar boosted exports to another record high.

The Commerce Department reported that the trade deficit, the gap between imports and exports, jumped by 9.3 percent, to $63.1 billion. The imbalance was much larger than the $60 billion that had been expected.

The increase was driven by a 16.3 percent increase in America’s foreign oil bill, which climbed to an all-time high of $34.4 billion as the per barrel price of imported crude reached new records while the volume of shipments declined slightly. With oil prices last week touching $100 per barrel, analysts are forecasting higher oil bills in future months.

WORLD

Nissan to supply Chrysler
with cars for S. America

TOKYO — Nissan and Chrysler have agreed to have Japan’s No. 3 automaker supply cars to Chrysler for sale in South America starting next year, the companies said Friday.

The car model, based on the Nissan Versa sedan, will be supplied under what is called an OEM, or “original equipment manufacture,” agreement in the auto industry.

That means Nissan Motor Co. will supply the cars, which are also sold as Nissan models, to Chrysler LLC so the U.S. automaker can sell them under its own brand.

Associated Press