Finance

Saudi Arabia Asks Brazil to Join OPEC Oil Group, Bolsonaro Says

(Bloomberg) — Saudi Arabia informally invited Brazil to join OPEC, President Jair Bolsonaro said, a sign of both the Latin American nation’s growing importance as an oil producer and the challenge it poses to the producer group’s influence on crude markets. (Bloomberg) — Saudi Arabia informally invited Brazil to join OPEC, President Jair Bolsonaro said, …

Finance

New Russian submarine test fires intercontinental missile for first time

MOSCOW (Reuters) – Russia’s most advanced new nuclear-powered submarine test-launched a Bulava intercontinental ballistic missile for the first time and hit a target thousands of kilometers away, the Defence Ministry said on Wednesday. The test was carried out while the Borei-class vessel was submerged and comes amid arms control tensions between Moscow and the West …

Finance

Apple CEO’s handling of trade war has helped buoy shares, investors say

(Reuters) – When Apple Inc reports results on Wednesday, Wall Street expects flat fiscal fourth-quarter sales and lower full-year revenue compared with the prior year, mostly because of declining iPhone sales. Yet Apple’s stock price has hit all-time highs in recent weeks, as has its price-to-earnings valuation. Investors and analysts told Reuters that much of …

Finance

Carmakers and repair shops clash as automation upends aftermarket

(Reuters) – The rapid rise of crash-avoidance technology has set carmakers and repair shops on course for a collision that could determine who controls the $800 billion auto aftermarket in the digital age. Given the unprecedented sophistication of the systems, which include lane-keeping assistance, automatic braking and blind spot detection, many automakers say only parts …