Auto Industry

Reuters

Jul 29, 2022, 12:04 AM

Judge Sets October Trial To Decide Musk's $44 Billion Deal For Twitter

Lawsuit seeking to hold Elon Musk to his $44 billion takeover will go to trial in October.

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  Reuters | Jul 29, 2022

  Tesla Moves To Push Lawsuit Over Mass Layoffs Out Of Court

  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.

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  Reuters | Jul 28, 2022

  Oil Steadies As China COVID Fears Face Tight Supply Concerns

  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.

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  Reuters | Jul 28, 2022

  Stocks, Oil Struggle To Hold Ground As Minutes Show Fed Rally Around Rate Hikes

  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.

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  Reuters | Jul 28, 2022

  Oil Rises More Than 2% As Supply Outages Outweigh Recession Fears

  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.

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  Reuters | Jul 28, 2022

  India's June Crude Imports Up On Demand Recovery, Russian Discounts

  Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.

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  Reuters | Jul 28, 2022

  EU Sanctions Tweak To Unblock Russian Oil Deals With Third Countries

  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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  Reuters | Jul 28, 2022

  Oil Gains $5 On Weaker Dollar, Tight Supplies

  Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a barrel, after rising 2.1% on Friday.

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  Reuters | Jul 28, 2022

  U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output

  The U.S. could secure a commitment that OPEC+ will boost production in the months ahead, which could send a signal to the market that supplies are coming if necessary.

  3 mins read