Cars News

Tesla Inc is lobbying the Ontario government as part of an effort to set up an "advanced manufacturing facility" in Canada, a filing by the electric-vehicle maker to the province's Office of the Integrity Commissioner showed.

Oil prices settled slightly lower after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

Baidu's electric vehicle (EV) firm Jidu Auto will be one-generation ahead of Tesla in terms of autonomous driving technologies, Baidu chief executive Robin Li said in a statement.

On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China.

Spot prices for Russia's key export crude grade ESPO Blend to Asia have rebounded from all-time lows amid strong demand from top buyers India and China and easing concerns about possible sanctions, several traders said.

Chinese chipmakers' shares jumped by the most in two years this week as House of Representatives Speaker Nancy Pelosi's visit to Taiwan heightened tensions with the U.S., driving patriotic bets on a sector Beijing sees as key to its rivalry with Washington.

Oil prices settled higher, recouping some of this week's losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand.

Oil prices rose slightly, bouncing off their lowest levels since February, as concern over supply shortages was countered by expected declines in fuel demand.