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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.
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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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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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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.
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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.
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Stellantis, GME Resources Seal Nickel And Cobalt Deal For Battery Production
The deal marks a further move by the world's fourth largest carmaker to lock down supplies of metals needed for batteries that power EV cars, ahead of an expected surge in global demand as a transition towards cleaner mobility gains traction.
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Many U.S. Drivers Treat Partially Automated Cars As Self-Driving- Study
The IIHS study of 600 active users found 53% of Super Cruise, 42% of Autopilot and 12% of ProPILOT Assist owners "said that they were comfortable treating their vehicles as fully self-driving."
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EV Maker Lucid Files For New Offering To Raise $8 Billion In Stages
Lucid filed for a new offering of up to $8 billion as the luxury electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production.
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India's Zoomcar Seeks U.S. Listing Through $456 Million SPAC Deal
The Bengaluru-based startup expects to list on the Nasdaq as Zoomcar Holdings Inc after being acquired by Innovative International Acquisition Corp in the first half of 2023.
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Piedmont To Build Lithium Plant In Tennessee For EV Market
Piedmont Lithium will build a lithium processing plant in Tennessee to supply the rapidly-growing electric vehicle (EV) industry.
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EU, U.S. Eye Level Playing Field For EU Electric Cars In U.S. Market
The EU says that while it allows government tax breaks or subsidies for purchases of U.S. electric cars such as those made by Tesla, the United States makes such support conditional on the car, or parts of it, being made in the United States.
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Stocks Eye 3% Weekly Loss, Dollar Sky High Before U.S. Jobs Data
World stocks were heading for a 3% loss on the week while the dollar hit 24-year highs against the yen for a second day ahead of key U.S. jobs data, as investors brace for aggressive rate hikes from the Federal Reserve.
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TomTom Shares Fall As 2023 Uncertainties Outweigh Q3 Beat
The Amsterdam-based group, whose customers range from major car companies to global tech firms, forecast free cash flow at break-even for next year, compared with a previous outlook for an inflow of at least 5% of revenues.
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Musk Looks To Delay Twitter Trial Following Whistleblower Claims
Elon Musk is seeking to delay until November a trial over his intention to back out of a $44 billion deal to buy Twitter Inc and amend his complaint against the social media company, according to court filings, after a whistleblower provided him with fresh ammunition.
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Intel's Mobileye IPO Eyes Significantly Lower Valuation - Report
Mobileye, which was originally expected to land a roughly $50 billion valuation, is now set to target one of under $20 billion and sell a smaller number of shares than originally planned, according to the report.
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GM Startup Cruise Recalls And Revises Self-Driving Software After Crash
General Motors startup Cruise LLC said it had recalled and updated software in 80 self-driving vehicles after a June crash in San Francisco that left two people injured.
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Intel's Mobileye Seeks Drastically Lower $16 Billion Valuation In IPO
Reuters, citing sources, had reported in April that the stock market flotation could value Mobileye at as much as $50 billion.
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Germany To Spend 6.3 Billion Euros On Push For Electric Car Charging Points
The plan envisages a 14-fold increase in the number of charging stations, climbing to 1 million by 2030 from around 70,000 now. It would focus on building them in local municipalities which are currently undersupplied.
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Mercedes Signs 1.5 Billion Eur Deal With Rock Tech Lithium To Push E-Car Drive
The deal allows the luxury carmaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in order to rapidly scale up production of fully electric vehicles, it said in a statement.
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Castrol India Reports Flat Profit For Inflation-Hit September Quarter
Net profit came in at Rs. 1.87 billion ($22.59 million) for the three months ended Sept. 30, compared with Rs. 1.86 billion a year earlier. Revenue from operations increased by 4.5 per cent to Rs. 11.21 billion.
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