The No. 2 U.S. automaker’s operating profit, excluding one-time items, fell to $1.1 billion, or 20 cents per share, from nearly $1.3 billion, or 30 cents per share, a year earlier. According to Thomson Reuters I/B/E/S, analysts, on average, expected an adjusted profit of 25 cents per share.

The company reported a net income of $13.6 billion, or $3.40 per share, buoyed by a one-time tax-related gain of $12.4 billion.

Brent crude gained 29 cents to $110.73 a barrel by 0529 GMT.

“The United States is trying to persuade buyers to stop importing oil from Iran, while each country is studying its options, its situation,” said Ken Hasegawa, a derivatives manager with brokerage Newedge in Tokyo. “This situation will continue with high tension.”

Reuters market analyst Wang Tao said a bearish target at $108.91 per barrel has been lowered to $108.75 for Brent, while U.S. oil is expected to clear a support at $97.52 per barrel.

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The group behind the lawsuit has been lobbying for months to get Apple remove copyright-infringing books from its App Store.

Under the mantle of the China Written Works Copyright Society (CWWCS), the group of nine authors sued Apple in Beijing’s No. 2 Intermediate People’s Court for copyright infringement of 37 works, Caixin reported. An Apple spokeswoman was not immediately available for comment and calls to the Beijing No. 2 Intermediate People’s Court were not answered.

It would be hard to argue that the yuan was undervalued when the trade surplus was only 2 percent of China’s GDP, Huang Yiping, economics professor at the China Center for Economic Research at Peking University, told a conference in New York.

“In the long run I think the currency should still appreciate but the potential currency appreciation might be more limited in the short term,” Huang said. “Be careful what you look for from China. I suspect the currency will be going down for a little while.” “Rebalancing is happening in China,” Huang said, citing a slowdown in housing and a dearth of solid investment opportunities in the Chinese stock market. “You don’t really want to keep your money in China.”

Jeremy Levin will take the reins at Teva in May in the wake of surprising resignation of Shlomo Yanai after five years at the helm.

“I have a deep philosophy in that medicines are medicines. It does not matter whether they are branded or generic,” Levin said. “The key question is can you make the affordable and can you provide them to patients.”

On Tuesday, Teva’s Nasdaq shares were up 6.5 percent at $42.97.

Hopes of crisis relief before the year-end had been pinned on a massive uptake of the ECB’s ultra-long and ultra-cheap loans after a string of failed attempts by euro zone leaders to thwart market attacks on the bloc’s weaker members.

The funding should bolster finances of banks and ease the threat of a credit crunch and may tempt them to buy Italian and Spanish bonds, thereby easing the sovereign debt crisis of the currency area.

The survey by ForSee found Overstock.com Inc came last out of the 40 largest online retailers, with a rating of 72 out of 100 and was down 4 points from last year. Amazon led ForSee’s survey for the 14th consecutive time.

ForSee said customer satisfaction is important for retailers as it leads to higher sales, more loyalty, and increased word-of-mouth recommendations.

“Netflix totally misread its customer base and is paying the price, damaging its brand among both consumers and investors,” said Larry Freed, chief executive officer of ForSee.

Spot gold edged down 0.1 percent to $1,603.29 an ounce by 7:32 p.m. EST and U.S. gold was little changed at $1,605.20.

Gold and silver speculators cut their bullish bets for the third running week in the week to December 20, with silver net long positions down by more than half, according to the U.S. Commodity Futures Trading Commission.

The largest gold producer of the world, China, churned out 31.75 tons of gold in October, bringing the output in the first 10 months of the year to 290.752 tons, up 4.96 percent from a year earlier.

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