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Oil prices fell on expectations that U.S. production could rise and as weaker economic data out of China and the country's widening COVID-19 curbs weighed on demand.

Oil Falls On U.S. Output Gains, Chinese Demand Doubts

Nov 30, 2022 09:56 PM

2 mins read

Oil prices fell on expectations that U.S. production could rise and as weaker economic data out of China and the country's widening COVID-19 curbs weighed on demand.

Japan To Seek U.S. Flexibility On EV Purchase Incentives, Kyodo Reports

By Reuters

Nov 30, 2022 09:56 PM

Japan will ask the United States to be more flexible on EV purchase incentives for non-American carmakers.

VW's SEAT Says Spain's Subsidy For Battery Plant, EV Production 'Not Sufficient'

By Reuters

Nov 30, 2022 09:56 PM

The chief of Volkswagen's Spanish unit SEAT said the subsidies offered by Spanish authorities for a battery factory construction and electric vehicle production "is not sufficient", but voiced optimism about finding a solution.

Stellantis To Refocus China Strategy With Jeep, Maserati Brands

By Reuters

Nov 30, 2022 09:56 PM

Stellantis sees its future as a niche player in China through its premium brand Jeep and luxury brand Maserati, its chief financial officer said.

Lyft To Lay Off 683 Employees In Cost-Cutting Push

By Reuters

Nov 30, 2022 09:56 PM

Lyft Inc said it would lay off 13% of its workforce, or about 683 employees, in the ride-hailing firm's latest cost-cutting step to cope with a weakening economy.

Volkswagen Sells Weshare To Berlin-Based Carsharing Service

By Reuters

Nov 30, 2022 09:55 PM

Volkswagen said it would not disclose the selling price as per the agreement.

AI Chip Startup SiMa.ai Launches Auto Business With Former Bosch, Mercedes Executive

By Reuters

Nov 30, 2022 09:55 PM

SiMa.ai said it is entering the automotive industry and has recruited Harald Kroeger, a former executive at top tier auto supplier Bosch and Mercedes Benz, to lead that business.