Cars News

Toyota Motor Corp said it would hold to its plan to produce 9.7 million vehicles globally this fiscal year, even as it announced another stoppage related to the spread of COVID-19.

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.

President Joe Biden will sign a bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research and to boost efforts to make the United States more competitive with China's science and technology efforts.

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.

The Swiss government imposed further sanctions against Russia over the war in Ukraine, in line with the European Union's latest measures on gold and gold products, the cabinet said.

Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand.

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme.