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Foxconn To Build Autonomous Electric Tractors At Ohio Facility
Taiwan's Foxconn, the world's largest contract electronics maker, said it will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio, facility starting in early 2023.
Read More →Foxconn Starts To Feel Sting Of Slowing Smartphone Sales
Apple iPhone assembler Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom.
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Oil Settles Up As IEA Hikes 2022 Demand Growth Forecast
Oil prices settled up more than $2 after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices have some consumers switching to oil.
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Analysis-Oil Prices Turn More Volatile As Investors Exit The Market
Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility.
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S.Korean EV Battery Maker SK On Raises $1.5 Billion In Expansion Push - Report
The battery unit of energy group SK Innovation Co Ltd has been in talks with a local private equity consortium which includes EastBridge Partners, Korea Investment Partners and Stella Investment
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Toyota Doubles Down On Its Hybrid Bet In India
Toyota is rebooting its strategy for India, doubling down on a bet that emerging markets will learn to love its hybrids, as long as the price is right.
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Analysis-Oil Prices Turn More Volatile As Investors Exit The Market
Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility.
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GM, LG Energy Solution Considering Indiana For Fourth U.S. Battery Plant
General Motors Co and LG Energy Solution are considering a site in Indiana for a fourth U.S. battery cell manufacturing plant, a spokeswoman for the companies' joint venture said.
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German Court Lets Tesla Ads Continue Referring To Autonomous Driving
Tesla can continue referring to the capabilities of its driver assistance system and to autonomous driving in its advertising in Germany after a court threw out a complaint against the practice.
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China's Huawei Says First-Half Profit Drops 52% As Demand Weakens
Huawei Technologies said its first-half net profit more than halved as a difficult economy curtailed demand from customers, compounding woes brought by U.S. technology restrictions.
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Indian Ride-Hailing Firm Ola Plans To Start Producing Electric Cars In 2024
Indian ride-hailing firm Ola Electric plans to start producing electric cars in India in 2024 with a range of up to 500 km (310 miles), Chief Executive Bhavish Aggarwal said.
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India's Maruti Suzuki Aims To Win Over SUV Buyers With New Hatchback
Maruti Suzuki is betting that a bigger and more fuel efficient version of its small hatchback, Alto, can bring back buyers to a segment that long-dominated Indian roads but has recently lost its popularity to sports-utility vehicles (SUVs).
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Serbia, Kosovo Fail To Break Car Number Plate Impasse, Agree To More Talks
The leaders of Serbia and Kosovo failed to resolve differences fuelling tension between the estranged Balkan neighbours during talks, but they agreed to resume discussions ahead of a Sept. 1 deadline that could stoke further unrest.
Read More →Oil Edges Off Low As Strong Export Demand Drains U.S. Crude Stocks
Oil prices rose about 1.5% after hitting a six-month low, as a steeper-than-expected drawdown in U.S. crude stocks outweighed concerns over rising Russian output and exports as well as recession fears.
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India 10-Year Bond Yield Sees Biggest Drop In 2 Months Tracking Oil
Indian government bond yields declined, with the 10-year notes posting its biggest single day drop in two months in line with the slump in oil.
Read More →US Tells India That Indian Ship Used To Reroute Russian-Linked Fuel To New York
U.S. has expressed concern to India that it was used earlier this year to export fuel made from Russian crude to New York through high-seas transfers.
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Venezuela To Support Reconstruction Of Cuban Port Damaged By Oil Fire
Maduro said that Venezuela would support Cuba in the reconstruction of its only supertanker port in Matanzas, which was partially destroyed by a fire after lightning struck one of the its crude tanks.
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Amid Energy Crisis, EU Plans To Help Gas-Rich Mozambique Boost Security
The European Union is planning a five-fold increase in financial support to an African military mission in Mozambique, as Islamist attacks threaten gas projects meant to reduce the EU's reliance on Russian energy.
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Infineon Quarterly Revenue Beats, Lifts 2022 Outlook On Chip Demand
Infineon, the leading supplier of microchips to the auto industry, on Wednesday reported a rise in third-quarter revenue and lifted its full-year outlook as it continues to benefit from a global shortage of semiconductors.
Read More →As US Eyes New China Chip Curbs, Turmoil Looms For Global Market
Export restrictions being considered by Washington to halt China's advances in semiconductor manufacturing could come at a substantial cost, experts say, potentially disrupting fragile global chip supply chains - and hurting U.S. businesses.
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