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U.S. officials and G7 countries have been in intense negotiations in recent weeks over the unprecedented plan to put a price cap on sea-borne oil shipments, which is scheduled to take effect on Dec. 5 - to ensure EU and U.S. sanctions aimed at limiting Moscow's ability to fund its invasion of Ukraine do not throttle the global oil market.

G7 Coalition Has Agreed To Set Fixed Price For Russian Oil: Report

Nov 30, 2022 09:48 PM

3 mins read

U.S. officials and G7 countries have been in intense negotiations in recent weeks over the unprecedented plan to put a price cap on sea-borne oil shipments, which is scheduled to take effect on Dec. 5 - to ensure EU and U.S. sanctions aimed at limiting Moscow's ability to fund its invasion of Ukraine do not throttle the global oil market.

Toyota Cuts Output Target Amid Chip Crunch As Profit Tumbles 25%

By Reuters

Nov 30, 2022 09:48 PM

Toyota posted a worse-than-expected 25% drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage

Bosch, Mercedes-Benz To Roll Out Fully-Automated Parking At Stuttgart Airport

By Reuters

Nov 30, 2022 09:47 PM

The function will be available for Mercedes-Benz customers owning an S Class or EQS produced from July 2022 onwards.

Tesla Crash Trial In California Hinges On Question Of 'Man Vs Machine'

By Reuters

Nov 30, 2022 09:46 PM

The U.S. Department of Justice is investigating whether Tesla itself should face criminal charges over its self-driving claims, Reuters reported.

Renault, Google Expand Ties In Automotive Software

By Reuters

Nov 30, 2022 09:46 PM

The partnership with Google will also help Renault accelerate its "end-to-end digital transformation, from the design of the car to its market launch through its production," Renault Chief Executive Luca de Meo said in a statement.