CONOCO WILL CUT 1,810 JOBS IN OIL PLUNGE

new york» Energy company ConocoPhillips, which has cut 1,000 jobs this year, says it will eliminate about 1,810 more positions after a plunge that took oil prices to their lowest levels in years.

The company said Tuesday it is eliminating 10 percent of its workforce. The biggest proportion of the cuts will be in North America. ConocoPhillips plans to eliminate more than 500 jobs in Houston, where it is based.

In a statement, ConocoPhillips said it’s making the cuts because the energy industry is in a “dramatic downturn.”

ConocoPhillips had 18,100 employees June 30.

All-day McDonald’s breakfast starts in October. McDonald’s Corp.

plans to start selling allday breakfast across the country Oct. 6, aiming to reinvigorate sluggish sales by fulfilling a longstanding customer request. The company’s franchisees have voted to approve the plan, and it’s being implemented nationwide, according to a statement from a McDonald’s spokeswoman.

Valeant steps in to work on psoriasis drug

B new york» Canadian drugmaker Valeant will work with British competitor AstraZeneca on a potential treatment for psoriasis a few months after biotech giant Amgen said it was ending research on the drug because of a link to suicidal thoughts and behavior.

Valeant could pay AstraZeneca as much as $445 million if the drug is successfully developed and approved and meets sales targets. The companies will share profits from the drug.

Estimate lowered on defective air bags

B detroit» Federal regulators have lowered their estimate of potentially defective Takata Corp. air bags on U.S. roads.

The National Highway Traffic Safety Administration says about 23.4 million driver and passenger air bag inflators on 19.2 million vehicles are being recalled and need to be replaced. That’s lower than its initial estimate of 34 million inflators. The agency says 4.4 million air bag inflators have been replaced.

Construction spending at highest in years

B washington» U.S. construction spending in July climbed to its highest level in more than seven years, boosted by an increase in the building of houses, factories and power plants.

The Commerce Department said Tuesday that construction spending rose 0.7 percent to a seasonally adjusted annual rate of $1.08 trillion, the highest level since May 2008. The report also revised up the June increase in construction spending to 0.7 percent from 0.1 percent previously.

Report supports ending oil restrictions B

washington» Ending the 4-decades-old restrictions on crude oil exports wouldn’t hurt consumers at the gasoline pump and might even help them, a new government report said Tuesday.

The finding is providing ammunition to lawmakers seeking to pass legislation this year to end the restrictions. A Senate panel passed such a measure before Congress adjourned for its August recess. House Republicans are expected to take up the issue this fall.

Uber drivers’ suit gets class-action status. A

federal judge has granted class-action status to a lawsuit claiming Uber Technologies Inc. treats its drivers like employees without providing health benefits and paying for other expenses normally covered by an employer.

In a ruling Tuesday, U.S. District Judge Edward Chen ordered the lawsuit, brought on behalf of three Uber drivers, also applies to all people who have driven for the company in California.