Auto Industry
Reuters
Nov 30, 2022, 10:10 PM
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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Reuters | Nov 30, 2022Intel's Mobileye Seeks Drastically Lower $16 Billion Valuation In IPOReuters, citing sources, had reported in April that the stock market flotation could value Mobileye at as much as $50 billion.2 mins read
Reuters | Nov 30, 2022Mercedes Signs 1.5 Billion Eur Deal With Rock Tech Lithium To Push E-Car DriveThe 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.1 min read
Reuters | Nov 30, 2022Castrol India Reports Flat Profit For Inflation-Hit September QuarterNet 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.1 min read
Reuters | Nov 30, 2022Twitter Lawsuit Halted So Elon Musk Can Close DealThe ruling followed days of uncertainty about Musk's intentions and removed the threat that the erratic entrepreneur would have to testify under oath this week about his claims that Twitter fraudulently misled him.2 mins read
Reuters | Nov 30, 2022Factbox-Who Is Financing Elon Musk's $44 Billion Deal To Buy Twitter?While Musk will provide much of the funding after selling down his stake in electric vehicle maker Tesla Inc and by leaning on equity financing from large investors, major banks have committed to provide $13 billion.2 mins read
Reuters | Nov 30, 2022Self-Driving Cars Face Uncertain Path To US Deployment: ReportFollowing a GM petition as well as a June crash involving an autonomous vehicle, the City and County of San Francisco said in its comments GM and Cruise failed to provide sufficient data and fell "short of documenting or analyzing the safety performance" of the self-driving vehicles.3 mins read
Reuters | Nov 30, 2022Oil Settles Up 5% As Further Interest Rate Hikes LoomThough fears of global recession capped gains, Brent crude futures settled up $3.99 to $98.57 per barrel, a weekly gain of 2.9%.3 mins read
Reuters | Nov 30, 2022Toyota Profit To Rise But Eyes Will Be On Its Shaky Supply Chain, EV StrategyThe world's biggest automaker by sales said last week its global production rebounded by 30 per cent in the quarter that ended in September but warned shortages of semiconductors and other components would continue to constrain output in coming months.2 mins read
