Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.
Industry
Pratt & Whitney signs deal with Pentagon for next F-35 engines
The Pentagon on Tuesday said it had finalized a contract with Pratt & Whitney, a unit of United Technologies Corp (UTX.N), for a seventh batch of F135 engines for the Lockheed Martin Corp (LMT.N) F-35 fighter jet, and the company had agreed to pay to fix an engine issue that grounded the F-35 fleet this summer.
Sergio's challenge: Build Jeep into FCA's top global brand by 2018
Auto analysts are skeptical that Sergio Marchionne, the hyperbolic chief executive of Fiat Chrysler Automobiles (FCHA.MI)(FCAU.N), can meet his most ambitious goal: to nearly double Jeep's global sales over the next four years.
Oil crumbles, bond prices up on economy fears
Brent crude prices marked their biggest decline in more than three years on Tuesday and U.S. and German debt attracted buyers on lingering anxiety over world economic growth.
AstraZeneca looks to EU decision for next cancer drug boost
AstraZeneca's cancer drug pipeline, already on a roll following promising clinical trial results, could get a further boost next week from a European green light for an experimental medicine against ovarian cancer.
Latest News
Belgian chemicals company Solvay SA has won a contract to provide plastic for Apple Inc's latest smartphone iPhone 6 handsets, Bloomberg said on Monday.
French low-cost telecoms operator Iliad SA (ILD.PA) abandoned its attempt to buy T-Mobile US Inc (TMUS.N) on Monday because of resistance from majority owner Deutsche Telekom (DTEGn.DE), becoming the third bidder to walk away from the carrier in three years.
Stocks on Wall Street tumbled in late selling on Monday as the technical picture soured for the S&P 500, while the U.S. dollar posted its worst day in a year after comments from Federal Reserve officials hinted at delays in expected interest rate hikes.
Apple Inc (AAPL.O) said that its recently released iPhone 6 and iPhone 6 Plus phones will be available in more than 115 countries by the end of the year.
As Iraqi militants advanced on Baghdad with M-16s and stolen tanks in June, most investors and traders in the jittery oil markets believed oil prices would spike even higher.
U.S. regulators are asking banks for more detail on their autos financing exposure, as rapid growth in the lending has prompted officials to seek to better assess the risks, according to a person familiar with the matter.
European stocks reversed early losses on Monday as airline shares gained after crude oil prices fell to near a four-year low, though broad dollar weakness and a jump in gold signaled investor concern over global economic health.
Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.
As traditional Wall Street moneymakers like stock and bond trading suffer, banks are growing increasingly willing to invest in less glamorous operations: their credit card businesses.
