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Tesla Considering Lithium Refinery In Texas, Seeks Tax Relief
Tesla is considering setting up a lithium refinery on the gulf coast of Texas, as it looks to secure supply of the key component used in batteries amid surging demand for electric vehicles.
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Oil Sinks As Demand Fears Take Steam Out Of OPEC-Led Rally
Oil prices fell as concern returned about the prospect of more interest rate hikes and COVID-19 lockdowns weakening fuel demand, reversing a two-day rally on OPEC+'s first output target cut since 2020.
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Oil Edges Up From Seven-Month Low As Russia Threatens Export Halt
Crude prices edged up about 1% after dropping to a seven-month low in the prior session as some technical traders bought the dip and Russia threatened to halt oil and gas exports to some buyers.
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Chasing Green Goals, Corporations Push Car Fleet Managers Toward EVs
Large corporations are jumping on the "green" bandwagon left and right, which in turn is pushing firms that lease and manage car fleets to convert to electric vehicles (EVs) faster than they had ever thought possible.
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Tesla To Host Town Hall Event Near Brandenburg Plant On Sunday
Tesla will launch an open-door event on Sunday for its workers to inform local residents about the progress and environmental footprint at its German gigafactory in Gruenheide.
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Other Nations Weighing G7 Russia Oil Price Cap, U.S.'s Adeyemo Says
A number of oil-importing countries are considering joining the G7's plan to cap the price of Russian oil.
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Chip Maker Wolfspeed To Build New U.S. Factory To Meet Surging EV Demand
Wolfspeed will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles.
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Uber Partners With Nuro In Push For Autonomous Food, Grocery Delivery
Uber has partnered with Nuro to test food delivery via unmanned vehicles in some U.S. locations.
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Oil Rises 4% On Supply Threats, Still Set For Weekly Drop
Oil prices rose about 4% supported by real and threatened cuts to supply, although futures posted a second weekly decline.
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India Says Importing Russian Oil Part Of Inflation Management
India's finance minister said that importing Russian oil was part of the country's inflation-management strategy and that other countries were doing something similar.
Read More →U.S. Commerce Aims To Seek Chips Funding Proposals By February
The U.S. Commerce Department said it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production.
Read More →Oil Prices Climb On Tight Supply Worries
Oil prices rose by as much as $1 per barrel after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia focused investor minds on how tight fuel supply may become.
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India's BPCL Plans To load Sokol Cargo In Sept - Sources
Indian state-refiner Bharat Petroleum Corp is re-attempting to charter a ship to load 700,000 barrels of Russia's Sokol crude oil this month, sources familiar with the deal said.
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India's Bengaluru Hit By Flooding, Traffic Snarls After Heavy Rain
Large parts of India's tech capital Bengaluru were under water after torrential rains uprooted trees, caused crippling traffic and forced offices to issue work-from-home orders to employees, raising fears of further disruptions through the week.
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India Asks Amazon To Remove Seatbelt Alarm Blockers In Road Safety Push
The Indian government has asked online retail giant Amazon to stop selling devices designed to disable car seatbelt alarms, transport minister Nitin Gadkari told Reuters, citing potential safety risks.
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Shenzhen Shuts Most Public Transport As China Battles Multiple Outbreaks
The main districts of Chinese tech hub Shenzhen shut down public transport and extended curbs on public activities as cities across China battled COVID-19 outbreaks that have dampened the outlook for economic recovery.
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Indonesia Hikes Fuel Prices To Rein In Ballooning Subsidies
Indonesia raised subsidised fuel prices by about 30%, as the government moves to rein in ballooning subsidies despite a risk of mass protests.
Read More →Oil Climbs Ahead Of OPEC+ Meeting Next Week
Oil prices rose on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China's COVID-19 curbs and weakness in the global economy loomed over the market.
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Russia Scraps Gas Pipeline Reopening, Stoking European Fuel Fears
Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe's difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance.
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SoftBank Plans $35 Million Bet On India's GoMechanic - Report
Vision Fund's early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazanah and existing investor Tiger Global also planning to invest in the $100 million funding round.
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