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India's Gasoil, Gasoline Sales Surge On Festive Demand
Gasoline and gasoil sales by Indian state refiners rose sharply in September from a year earlier.
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India Cuts Windfall Tax On Crude Oil Output, Diesel Exports
The Indian government has cut a windfall tax on domestically produced crude oil to 8,000 rupees per tonne from 10,500 rupees per tonne.
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Petronas To Fight Asset Claims By Southeast Asian Sultan's Heirs
Malaysian state oil firm Petronas said it would contest any claims on its assets by the heirs of a former Southeast Asian sultan, who are seeking $15 billion in compensation.
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Oil Falls But Notches Weekly Gain As OPEC+ Considers Output Cut
Oil prices dipped choppy trading but notched their first weekly gain in five.
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U.S. Autonomous Vehicle Group Picks Ex-Senate Aide As Director
The Autonomous Vehicle Industry Association (AVIA) has tapped Jeff Farrah as its first executive director.
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Chip Shortage Forces Temporary Closure Of Volvo Cars Factory - GP
Volvo Cars will temporary close one of its factories due to a chip shortage, the company told newspaper Goteborgs-Posten on Tuesday.
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Intel Unit Mobileye Prices IPO Above Range To Raise $861 Million
The IPO values Mobileye at $16.7 billion, a far cry from the $50 billion valuation that Intel was initially hoping to achieve.
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Automakers To Double Spending On EVs, Batteries To $1.2 Trillion By 2030
The EV investment figure, which has not previously been published, dwarfs previous investment estimates by Reuters and is more than twice the most recent calculation published just a year ago.
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Tesla Faces U.S. Criminal Probe Over Self-Driving Claims - Report
The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla's driver assistance system Autopilot, which was activated during the accidents, the people said.
Read More →U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies
The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the electric vehicle (EV) market.
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Volkswagen No Longer Investing In Self-Driving Startup Argo AI
The first outcomes from the partnership between Volkswagen's software unit Cariad and Bosch, announced in January this year, are planned for 2023, the statement said.
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Tesla Recalls 24,000 U.S. Vehicles Over Seat Belt Issue
The Austin-based electric vehicle company said the second-row left seat belt buckle and second-row center seat belt anchor may have been incorrectly reassembled during vehicle service.
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Oil Rises On Strong Crude Demand, Easing Recession Fears: Report
Data showed record U.S. crude exports, a hopeful sign for demand. Speculation that central banks could be nearing the end of rate-hiking cycles added support, after the European Central bank raised rates by 75 basis points.
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India's Shriram Transport Finance Profit Surges On Higher Interest Income
Commercial vehicle sales and financing have seen a resurgence following a pandemic-stirred slump, with improving loan repayments also leading to better asset quality for both bank and non-bank lenders.
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Tesla Faces US Criminal Probe Over Self-Driving Claims: Report
The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla's driver assistance system Autopilot, which was activated during the accidents, the people said.
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Chip Shortage Forces Temporary Closure Of Volvo Cars Factory: Report
The factory will be closed for one week due to the ongoing problem with semiconductor shortages, Volvo said.
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U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies
The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the EV market.
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Volkswagen No Longer Investing In Self-Driving Startup Argo AI
Volkswagen disclosed a $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup, in June 2020. Ford has invested in the start-up as well.
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Down On Chips, Toyota Goes Back To Basics With Car Keys
"As the shortage of semiconductors continues, this is a provisional measure aimed at delivering cars to customers as quickly as possible," Toyota said in a statement.
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Twitter Shares To Be Suspended On NYSE As Musk Nears Takeover: Report
The deal's completion would mark an end to a lawsuit by Twitter, which, along with investors, now expects the deal to be completed on its original terms of $54.20 per share.
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