Cars News

The European Union said it was "deeply concerned" about proposed tax credits for purchases of electric vehicles in the United States because they would be biased against foreign producers and may breach World Trade Organization (WTO) rules.

EU Says U.S. Plan For EV Tax Breaks Discriminatory, May Breach WTO Rules

Aug 12, 2022 02:02 AM

1 mins read

The European Union said it was "deeply concerned" about proposed tax credits for purchases of electric vehicles in the United States because they would be biased against foreign producers and may breach World Trade Organization (WTO) rules.

Oil Rises On Renewed Gasoline Demand, Weak Dollar

By Reuters

Aug 12, 2022 02:02 AM

Oil prices rose, rebounding from losses early in the session, helped by encouraging figures on U.S. gasoline demand and as lower-than-expected U.S. inflation data drove investors into riskier assets.

Oil Rises As IEA Hikes 2022 Demand Growth Forecast

By Reuters

Aug 12, 2022 02:01 AM

Oil prices rose by over 1% after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil.

Hope For Smaller Rate Rises To Lift Wall Street, Oil Gains

By Reuters

Aug 12, 2022 02:01 AM

Wall Street headed for another day of gains as investors banked on peaking inflation persuading central banks to dial back on their anticipated interest rate hikes in September.