Auto Industry News
Twitter Hits Back At Musk, Says No Deal Obligations Breached
The company has planned to sue Musk to force him to complete the deal, a threat he laughed off on Monday, when he sent a series of tweets joking about Twitter and its threat to enforce the agreement in court. Twitter is planning to file a lawsuit early this week in Delaware, people familiar with the matter told Reuters.
Twitter To Hold Shareholder Vote On Musk's Offer In September
Jul 29, 2022 12:06 AM
The company's plan, which was disclosed in a filing, comes as the world's richest person prepares for a legal showdown with Twitter in October for walking away from his offer to buy the social media company.
Judge Sets October Trial To Decide Musk's $44 Billion Deal For Twitter
Jul 29, 2022 12:04 AM
Lawsuit seeking to hold Elon Musk to his $44 billion takeover will go to trial in October.
Tesla Moves To Push Lawsuit Over Mass Layoffs Out Of Court
Jul 29, 2022 12:00 AM
Tesla in a filing in federal court in Austin, Texas, where the company is based, said the workers who were terminated signed valid agreements to bring employment-related legal disputes in arbitration and to refrain from participating in class-action lawsuits.
Oil Steadies As China COVID Fears Face Tight Supply Concerns
Jul 28, 2022 11:57 PM
The market was rattled earlier in the session by news that China had discovered its first case of a highly transmissible Omicron subvariant in Shanghai that could lead to another round of mass testing, which would hurt fuel demand.
Stocks, Oil Struggle To Hold Ground As Minutes Show Fed Rally Around Rate Hikes
Jul 28, 2022 11:53 PM
Oil struggled to stay above $100 a barrel, dropping to a 12-week low on recession fears earlier in the trading day. In the afternoon, Brent crude ended down 2.3% at $100.40 a barrel. That comes one day after Brent fell 9% on supply concerns.
Oil Rises More Than 2% As Supply Outages Outweigh Recession Fears
Jul 28, 2022 11:51 PM
Low crude and fuel supplies supported the oil market even as equities slumped and the U.S. dollar, which typically has an inverse relationship with crude, rose.
India's June Crude Imports Up On Demand Recovery, Russian Discounts
Jul 28, 2022 11:48 PM
Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.
EU Sanctions Tweak To Unblock Russian Oil Deals With Third Countries
Jul 28, 2022 11:45 PM
Major trading houses such as Vitol, Glencore and Trafigura as well as oil majors such as Shell and Total have stopped trading Russian oil for third parties, citing EU sanctions, including restrictions on insurance.
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