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Analysis-Why The Banks Financing Musk's Twitter Deal Are Unlikely To Be Able To Help Him Walk Away
The banks that agreed to finance Elon Musk's $44 billion acquisition of Twitter Inc have a financial incentive to help the world's richest person walk away but would face long legal odds, according to people close to the deal and corporate law experts.
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Lyft Posts Record Quarter, Sees Operating Profit Of $1 Billion In 2024
Ride-hailing firm Lyft Inc forecast an adjusted operating profit of $1 billion for 2024 after reporting record earnings for the second quarter, betting on strength in the rideshare market as it rebounds from pandemic lows.
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Italy, Intel Close To $5 Billion Deal For Chip Factory - Sources
Italy is close to clinching a deal initially worth $5 billion with Intel to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions told Reuters.
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Twitter Queries Banks On Musk's Attempts To Undermine $44 Billion Deal
Twitter Inc is attempting to find evidence that Elon Musk tried to torpedo the financing of his $44 billion takeover deal for the social media company while also looking into his motivation for backing out of the deal, legal experts said.
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Aeva Strikes Deal To Sell Industrial Sensors To Germany Automation Firm
Aeva Technologies Inc said it has reached a deal with a German firm to sell its sensors for industrial uses such as automating manufacturing lines with machines and self-driving mining trucks.
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China Extends NEV Purchase Tax Exemption Worth 100 Billion Yuan
China will extend its exemption of new energy vehicles' from purchase taxes to the end of 2023
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Indonesia President Wants Tesla To Make Electric Cars In Country - Sources
Indonesian President Joko Widodo has urged electric vehicle (EV) maker Tesla to manufacture its cars, as well as batteries, in the country, in comments made to Bloomberg News.
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U.S. Extends Public Input On GM, Ford Self-Driving Petitions
U.S. auto safety regulators will extend a deadline for public input on General Motors and Ford Motor petitions seeking to deploy a limited number of self-driving vehicles without human controls like steering wheels and brake pedals.
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Tesla Cuts Delivery Waiting Time For Model Y In China To A Minimum Of 4 Weeks
Electric auto giant Tesla said it has slashed the delivery waiting time for its Model 3 and Model Y cars in China as it ramps up output at its Shanghai plant after upgrading production lines.
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.
Read More →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.
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Sierra Leone Doctors Strike Over Pay, Fuel Allowances
Doctors across Sierra Leone began an indefinite strike on Monday to protest low pay and lack of benefits, leaving dozens of patients in hospital waiting rooms in need of care.
Read More →Chip Stocks Slip As Taiwan Tensions Mount
Semiconductor stocks fell globally as an expected visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan fueled a fresh escalation in tensions between Washington and Beijing.
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Spiralling Fuel Costs Hit Damascus Drivers
Damascus minibus driver Khaled al-Hassi remembers a time when he could fill his tank with cheap fuel to drive passengers across the Syrian capital and take home enough money for food, drink and a comfortable life.
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Ukraine To Resume Excise Tax On Fuel To Replenish Budget During War
The Ukrainian government has asked parliament to partially restore excise tax on petrol and diesel fuel to boost the state budget, depleted by months of war with Russia.
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Myanmar To Import Russian Oil, Military Says
Military-ruled Myanmar plans to import Russian gasoline and fuel oil to ease supply concerns and rising prices.
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Cuba Fire Rages At Fuel Storage Port; Mexico, Venezuela Sending Help
A massive oil-fed fire burned near Cuba's supertanker port in Matanzas, as Mexico and Venezuela sent teams to help fight the inferno.
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India’s GAIL Faces Profit Hit Over Gas Supply Cut - Report
Profit at GAIL will be hit as it rations gas sales after supplies are cut under its long-term deal with a former unit of Russian energy giant Gazprom.
Read More →Australia's Greens Back Climate Law But Vow To Fight Coal, Gas Projects
Australia's Greens party threw its support behind the government's climate change legislation, clearing the way for a bill enshrining a pledge to cut carbon emissions by 43% by 2030, but said it would oppose new fossil fuel projects.
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Wall Street Rallies On Economic Data, Crude Falls As Stockpiles Jump
U.S. stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday.
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