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Judge Sets October Trial To Decide Musk's $44 Billion Deal For Twitter
Lawsuit seeking to hold Elon Musk to his $44 billion takeover will go to trial in October.
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Tesla Moves To Push Lawsuit Over Mass Layoffs Out Of Court
Tesla in a filing in federal court in Austin, Texas, where the company is based, said the workers who were terminated signed valid agreements to bring employment-related legal disputes in arbitration and to refrain from participating in class-action lawsuits.
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Oil Steadies As China COVID Fears Face Tight Supply Concerns
The market was rattled earlier in the session by news that China had discovered its first case of a highly transmissible Omicron subvariant in Shanghai that could lead to another round of mass testing, which would hurt fuel demand.
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Stocks, Oil Struggle To Hold Ground As Minutes Show Fed Rally Around Rate Hikes
Oil struggled to stay above $100 a barrel, dropping to a 12-week low on recession fears earlier in the trading day. In the afternoon, Brent crude ended down 2.3% at $100.40 a barrel. That comes one day after Brent fell 9% on supply concerns.
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Oil Rises More Than 2% As Supply Outages Outweigh Recession Fears
Low crude and fuel supplies supported the oil market even as equities slumped and the U.S. dollar, which typically has an inverse relationship with crude, rose.
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India's June Crude Imports Up On Demand Recovery, Russian Discounts
Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.
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EU Sanctions Tweak To Unblock Russian Oil Deals With Third Countries
Major trading houses such as Vitol, Glencore and Trafigura as well as oil majors such as Shell and Total have stopped trading Russian oil for third parties, citing EU sanctions, including restrictions on insurance.
Read More →Oil Gains $5 On Weaker Dollar, Tight Supplies
Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a barrel, after rising 2.1% on Friday.
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U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
The U.S. could secure a commitment that OPEC+ will boost production in the months ahead, which could send a signal to the market that supplies are coming if necessary.
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Oil Up 2.5% As No Immediate Saudi Output Boost Expected
The United States could still secure a commitment that OPEC will boost production in the months ahead in hopes that it will provide a signal to the market that supplies are coming if necessary.
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Ford, SK On Finalize U.S. EV Battery Joint Venture
The JV, BlueOval SK LLC, will establish a battery plant for electric vehicles (EV) in Tennessee and two other facilities in Kentucky, the U.S. automaker said in a regulatory filing.
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GM Signs Agreements With Suppliers, On Course To Reach 1 Million EV Capacity By 2025
General Motors Co said on Tuesday it had signed multi-year agreements with LG Chem Ltd and Livent Corp to secure key raw materials used in manufacturing batteries for electric vehicles.
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Jaguar Land Rover Names Bergmeier As Industrial Operations Chief
British carmaker Jaguar Land Rover (JLR) said on Friday it had hired former BMW executive Barbara Bergmeier for a newly-created role overseeing supply chains and industrial operations, at a time when the industry faces persistent supply shortages.
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Polestar EV Sales Surge In First Half, On Track For Full-Year Target
Sales at the Swedish EV maker rose almost 125% to about 21,000 cars in the first six months of the year
Read More →Rivian To Address Layoffs At Friday Meeting, Tesla To Cut 229 Jobs
Electric truck maker Rivian Automotive will brief employees on Friday on potential layoffs and plans to suspend some programs as part of a broader restructuring, Chief Executive R.J. Scaringe said in an email sent to employees on Monday evening.
Read More →Twitter Workers Brace For More 'Circus' After Elon Musk Torpedoes Deal
Twitter Inc employees expressed disbelief and exhaustion on Friday after billionaire entrepreneur Elon Musk said he was terminating a deal to buy the social media company in what could be the start of months of legal wrangling.
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Twitter Gets Fast-Tracked Elon Musk Trial Over $44 Billion Deal
Twitter Inc will get an October trial in its legal fight to hold Elon Musk to his $44 billion takeover, after a Delaware judge said on Tuesday the social media company deserved a quick resolution of the deal's uncertainty.
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Musk Says Tesla Could Lower Car Prices If Inflation Slows
Tesla Inc Chief Executive Officer Elon Musk said the electric automaker could lower prices for cars if inflation calms down.
Read More →Brent Crude Settles Below $100/bbl On Higher Dollar, Weak Demand Outlook
Global benchmark Brent crude tumbled $7 on Tuesday to settle below $100 a barrel for the first time in three months on a strengthening dollar, COVID-19 curbs in top crude importer China, and rising fears of a global economic slowdown.
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Oil Settles Up Nearly $4 As Tight Supply Outweighs Recession Fears
Oil prices settled sharply higher on Thursday, rebounding from steep losses the previous two sessions, as investors returned their focus to tight supply despite nagging fears of a potential global recession.
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