Auto Industry News
U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies
The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the EV market.
Oil Slumps By Over $2/bbl, Dogged By Recession Fears
Dec 31, 2022 05:24 PM
Oil prices briefly erased some losses after officials said the U.S. Energy Department will repurchase 3 million barrels of domestic crude oil for the Strategic Petroleum Reserve.
Electric Vehicles Confront The Leap To The Mass Market
Dec 31, 2022 05:24 PM
The automobile industry is pouring more than $1 trillion into a revolutionary shift from combustion engines to electric vehicles guided by software.
Taiwan To Fine Foxconn For Unauthorised China Investment
Dec 31, 2022 05:23 PM
Taiwan has turned a wary eye on China's ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology.
STMicro, Soitec Deepen Cooperation Over Fast-Growing Semiconductor Material
Dec 31, 2022 05:23 PM
Soitec and STMicroelectronics are deepening their cooperation over the manufacturing of a key and fast-growing material used in the electric car industry.
U.S. Urges Caution On Low-Quoted Russian Oil Prices As EU Debates Price Cap
Dec 31, 2022 05:23 PM
The Biden administration broke its silence on European Union deliberations over a $65-70 per barrel Russian oil price cap, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution.
Oil Settles Up $2 On Tighter Supply; OPEC+ Talks Limit Gains
Dec 31, 2022 05:22 PM
Oil prices settled up by over $2 per barrel on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery.
OPEC+ Switch To Virtual Meeting Signals Policy Roll-Over Ahead Of Russian Oil Price Cap - Report
Dec 31, 2022 05:22 PM
The OPEC+ decision to hold its Dec. 4 meeting virtually signals little likelihood of a policy change.
Factbox - Western Governments Struggle To Agree On Russian Oil Price Cap
Dec 31, 2022 05:22 PM
Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine.
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