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Chipmaker Qualcomm Says Automotive Future Business Expands To $30 Billion
Qualcomm said the automotive market size it is targeting could grow to as large as $100 billion by 2030.
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Canadian Pension Fund OTPP To Buy 30% Stake In India's Mahindra Renewables Assets
Canadian pension fund Ontario Teachers' Pension Plan has agreed to buy a 30% stake for 23.71 billion rupees ($297.5 million) in Indian automaker Mahindra's renewable power assets, an exchange filing showed.
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Indian Ride-Hailing Firm Ola To Cut 10% Engineering Jobs
India's Ola will cut about 200 engineering jobs to reduce redundancy across its two main businesses of ride-hailing and electric vehicle manufacturing, the SoftBank Group-backed company said.
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India Slashes Taxes On Aviation Fuel Exports, Domestic Crude Oil
Indian government lowered taxes on aviation turbine fuel exports to 5 rupees per liter from 9 rupees per liter, a government notification said.
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Oil Prices Up After Basra Spill, But Log Weekly Decline
Oil prices rose slightly as a spill at Iraq's Basra terminal appeared likely to constrain crude supply, but remained down on the week on fears that hefty interest rate increases will curb global economic growth and demand for fuel.
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Putin Tells Europe: If You Want Gas Then Open Nord Stream 2
President Vladimir Putin denied Russia had anything to do with Europe's energy crisis, saying that if the European Union wanted more gas it should lift sanctions preventing the opening of the Nord Stream 2 pipeline.
Read More →India's August Crude Imports Fall m/m On Monsoon Demand Lull
India's crude oil imports fell more than 13% in August month-on-month, government data showed, as monsoon rains restricted activity and slowed consumption in the world's third-biggest oil consumer.
Read More →Oil Edges Up As Supply Woes Outweigh Demand And Rate Hike Worries
Oil prices edged slightly higher in volatile trading, as worries of tight supplies outweighed fears that global demand could slow due to a strong U.S. dollar and possible large increases to interest rates.
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Elon Musk Accuses Twitter Of Security Lapses In Court Filing
Billionaire Elon Musk accused Twitter Inc of fraud by concealing serious flaws in the social media company's data security, which the entrepreneur said should allow him to end his $44 billion deal for the company, according to a court filing.
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Tesla Weighs Reset For China Retail Strategy Even As Sales Boom
Tesla is reevaluating the way it sells electric cars in China, its second-largest market, and considering closing some showrooms in flashy malls in cities like Beijing where traffic plunged during COVID restrictions, two people with knowledge of the plans said.
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'It Felt Like Star Wars': Hoverbike Makes U.S. Debut
A hoverbike that the Japanese manufacturers plan to launch in the United States next year made its U.S. debut at the Detroit Auto Show, drawing perhaps inevitable comparisons to the speeder bikes of "Star Wars."
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Loop Energy Says New Hydrogen Fuel Cell More Efficient Than Diesel Engine
Hydrogen fuel cell maker Loop Energy said that its latest cell system can deliver better fuel economy than a diesel engine at current price levels.
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Tesla Says China Sales Channel Expansion Proceeding At Normal Pace
Tesla said that it is still expanding its sales channels in China at a normal pace, in response to a Reuters report saying it was considering closing some city centre showrooms in its second largest market.
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Indian Shares Rise As Finance, Autos Gain; Cenbanks In Focus
Indian shares ended higher, lifted by gains in financials and auto companies, while investors prepared for a host of central bank meetings this week to gauge the impact of rate hikes on global economy.
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Tesla Completes Production Capacity Expansion At Shanghai Plant - Shanghai Govt
Tesla completed a project to expand production capacity at its Shanghai plant, according to a statement on a Shanghai government platform for companies' environmental information disclosures.
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Mongolian President Says He Supports Russia-China Oil And Gas Piplines Through Mongolia
Mongolian President Ukhnaagiin Khurelsukh said that he supports the construction of oil and gas pipelines from Russia to China via Mongolia.
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Oil Prices Up After Basra Spill, But Log Weekly Decline
Oil prices rose slightly as a spill at Iraq's Basra terminal appeared likely to constrain crude supply, but remained down on the week on fears that hefty interest rate increases will curb global economic growth and demand for fuel.
Read More →Lower Oil Prices Defy Robust Forecasts For Global Demand
Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is actually predicting one.
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Car Electrification Unlikely To Erase Market For Ethanol, Says Producer
The global movement by governments and automakers to boost electrification of cars does not mean ethanol will be dead as a product, according to an executive of one of the world's largest producers of the biofuel.
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Tesla Is Sued By Drivers Over Alleged False Autopilot, Full Self-Driving Claims
Tesla Inc was sued on Wednesday in a proposed class action accusing Elon Musk's electric car company of misleading the public by falsely advertising its Autopilot and Full Self-Driving features.
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