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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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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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Dutch Students Devise Carbon-Eating Electric Vehicle
The sporty all-electric car from the Netherlands resembles a BMW coupe, but is unique: It captures more carbon than it emits.
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Taiwan President Warns Of 'Volatile' Challenges Facing Chip Industry
Taiwan's President Tsai Ing-wen warned the semiconductor industry faces new and "volatile" challenges, but said her government will work with the sector to overcome them.
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Violent Protests Flare Up In Haiti Over Fuel Price Hikes, Rampant Crime
Residents of Haiti's capital Port-au-Prince sheltered at home as gun fire rung out, road blocks and burning tires were placed along city streets and protesters threw stones in an angry response to expected new fuel price hikes and crime.
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India Road Ministry Issues Draft Rules For Mandatory Rear Seat Belt Alarms
The last date for public comments on draft rules is Oct. 5, according to the notification.
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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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Indian Shares Post Weekly Decline As Tech, Autos Tumble
Indian shares dropped nearly 2% to register a weekly decline, dragged by a sharp fall in technology and automobile stocks following a broader global selloff over recession worries.
Read More →Upset By High Prices, GM's Cruise Develops Its Own Chips For Self-Driving Cars
General Motors' autonomous driving unit Cruise has developed its own chips for self-driving cars to be deployed by 2025, as they aim to bring down costs and scale up volume, executives said.
Read More →Oil Dips Nearly 1%, Reversing Gains After Bearish U.S. Economic Data
Oil prices ended nearly 1% lower, reversing earlier gains as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.
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Uber Asks Its India Drivers To Ensure Rear Seatbelts In Their Cars Work
Ride-hailing company Uber Technologies has asked its drivers in India to ensure backseat seatbelts in their vehicles are accessible to passengers and they work, days after a local business tycoon died in a crash involving his private car.
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Fiat Chrysler Gets New Chance To Block Mahindra 4x4s In Jeep Trademark Case
Fiat Chrysler has received a second chance to permanently block U.S. sales of redesigned Roxor off-road vehicles made by Mahindra.
Read More →The G7's Price Cap On Russian Oil Begins To Take Shape
The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow's ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming months.
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Lebanon Central Bank Stops Providing Dollars For Gasoline Imports
Lebanon's central bank said it has entirely ceased providing dollars for gasoline imports in a move that will likely lead to higher and more volatile prices as well as increased pressure on the local currency which has been steadily losing value.
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Most Twitter Shareholders Vote In Favor Of Sale To Musk - Sources
A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said.
Read More →Chip Maker Wolfspeed To Build New U.S. Factory To Meet Surging EV Demand
U.S. power chip maker Wolfspeed Inc said it will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles as demand surges.
Read More →Chip Maker Wolfspeed To Build New U.S. Factory To Meet Surging EV Demand
U.S. power chip maker Wolfspeed Inc said it will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles as demand surges.
Read More →Election-Time Brazil Gasoline Tax Cut To Lead Mills To Shun Ethanol
Brazilian President Jair Bolsonaro's move to sharply cut taxes on fuels, particularly gasoline, to boost his reelection chances has squeezed ethanol's profit margins and is expected to lead mills to shun the biofuel and focus strongly on sugar.
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