Auto Industry News
Oil Prices End Week On Multi-Month Lows On Recession Fears
Oil prices settled higher, recouping some of this week's losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand.
Twitter Rejects Musk's Claims That He Was Hoodwinked
Aug 29, 2022 05:09 PM
Twitter Inc dismissed Elon Musk's claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary to fact."
Tesla Shareholders Broadly Follow Board Recommendations At Annual Meeting
Aug 29, 2022 05:09 PM
Tesla Inc shareholders voted for board recommendations on most issues at the company's annual meeting, including re-electing directors, approving a stock split, while rejecting proposals focused on environment and governance.
Biden To Sign Bill To Boost Chipmakers, Compete With China Aug. 9 - White House
Aug 29, 2022 05:09 PM
President Joe Biden next Tuesday will sign a bill to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China, the White House said.
Oil Prices Rise From Multi-Month Lows On Supply Concerns
Aug 29, 2022 05:07 PM
Oil prices rose slightly, bouncing off their lowest levels since February, as concern over supply shortages was countered by expected declines in fuel demand.
Italy, Intel Close To $5 Billion Deal For Chip Factory - Sources
Aug 29, 2022 05:06 PM
Italy is close to clinching a deal initially worth $5 billion with Intel to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions told Reuters.
Indian Automaker Mahindra & Mahindra Enjoys Strong First Quarter As COVID Restrictions Ease
Aug 29, 2022 05:04 PM
Mahindra and Mahindra Ltd reported a sharp jump in first-quarter net profit on improved demand for the Indian automaker's passenger vehicles and tractors.
Oil Falls To Nearly 6-Month Lows After Surprise U.S. Crude, Gasoline Build
Aug 29, 2022 05:03 PM
Oil prices slid about 4% to almost six-month lows, after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ said it would raise its oil output target by 100,000 barrels per day (bpd).
Oil Prices Rebound On Supply Concerns After Drop To Near 6-Month Low
Aug 29, 2022 05:01 PM
Oil prices rose as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.