By Steve Scherer OTTAWA (Reuters) – Canada on Monday will announce its support for General Motors Co’s multi-billion-dollar investment in two plants, including one that will produce electric commercial vehicles (EVs), a government source said. Both the federal government and Ontario’s provincial government will invest in the two GM plants in Ingersoll and Oshawa, said…
By Stephanie Kelly NEW YORK (Reuters) – Oil futures were set to open for Asian trade on Sunday, after both Brent and U.S. crude benchmarks posted their biggest weekly falls in two years last week as the United States announced the largest ever release from the U.S. Strategic Petroleum Reserve. Both contracts settled down around…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s sports minister and the president’s nephew, Namal Rajapaksa, has resigned from his position amid growing public outrage over the country’s economic crisis and shortages of food, fuel and medicines. The entire Sri Lankan Cabinet also has handed over letters to Prime Minister Mahinda Rajapaksa offering to resign from…
SANTIAGO (Reuters) – Peru’s ministry of economy and finance announced on Sunday that it would suspend taxes on the country’s most consumed fuels to fight surging prices caused by the Russia-Ukraine conflict. The measure suspends taxes on 84 and 90 octane gasoline, gasohol and certain types of diesel until June 30, with a potential extension…
(Refiles to clarify in headline, first paragraph that BYD stops making fully combustion engine cars but smaller gasoline engines still used in plug-in hybrids) BEIJING (Reuters) -China’s largest electric vehicle (EV) maker BYD Co Ltd (002594.SZ) said that as of last month it stopped making combustion engine vehicles and now produces full electric and heavily…
LAS VEGAS — Ukrainian President Volodymyr Zelenskyy has appeared in a video at the Grammy Awards asking for support in telling the story of Ukraine’s invasion by Russia. During the pre-recorded message that aired on the show Sunday night, he spoke in English, likening the attack to a deadly silence threatening to extinguish the dreams…
DETROIT (AP) — BMW has halted production at two German factories. Mercedes is slowing work at its assembly plants. Volkswagen, warning of production stoppages, is looking for alternative sources for parts. For more than a year, the global auto industry has struggled with a disastrous shortage of computer chips and other vital parts that has…
By Sudarshan Varadhan NEW DELHI (Reuters) – India’s southern Andhra Pradesh has cancelled bids made for two separate tenders by India’s Adani Enterprises to supply imported coal as the prices quoted were too high, two state government officials told Reuters. It is the first time in recent years that a major government tender for imported…
BEIJING (Reuters) – China’s largest electric vehicle (EV) maker BYD Co Ltd said that as of last month it stopped making combustion engine vehicles and now produces electric and hybrid cars only. “In the future, BYD will focus on pure electric and plug-in hybrids in the automobile sector,” the company said in a statement filed…
VILNIUS, Lithuania (AP) — Lithuania says it has cut itself off entirely of gas imports from Russia, apparently becoming the first of the European Union’s 27 nations using Russian gas to break its energy dependence upon Moscow. “Seeking full energy independence from Russian gas, in response to Russia’s energy blackmail in Europe and the war…
