Oil Patch Braces for Financial Reckoning

The oil patch is expected to face a reckoning, with carnage occurring as early as this month. Drillers are bracing for cuts to their credit lines in October, as banks re-evaluate the worth of oil and gas properties.

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Ford, Alcoa Expand Supply Agreement

Ford reached a new supply agreement with Alcoa that would allow it to expand the use of aluminum fenders at the No. 2 U.S. car maker, furthering the metal’s recent automotive industry inroads.

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Virgin Galactic to Unveil Enhanced LauncherOne Rocket

British billionaire Richard Branson’s Virgin Galactic announced revamped plans to blast small satellites into orbit, including a new rocket designed for heavier payloads and a revised concept of operations to launch from a jumbo jet.

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Apple: Preorders Strong for New iPhones

Apple said its latest iPhones are on pace to exceed last year’s first-weekend sales of 10 million units, citing exceptionally strong initial orders.

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Chinese Open Luxury Wallets in Europe

Luxury brands are struggling within China, but the country’s economic slowdown and stock market slide have yet to hurt the Chinese appetite for European shopping sprees.

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Porsche Unveils Prototype Battery-Driven Sports Car

Porsche has unveiled a prototype battery-driven sports car with which it aims to challenge Tesla Motors, the maker of high-end electric cars whose success has shaken more established car makers.

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Google Found Guilty in Russia Antitrust Probe

Google has been found guilty in a rapid Russian antitrust probe, a spokesperson for the country’s antitrust regulator told The Wall Street Journal.

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