Gasoline’s Demand Rebound Fades at Height of US Driving Season
A sharp rebound in gasoline consumption that helped to drive oil prices higher appears to be running out of steam, a development that should be a cause for concern across the petroleum industry.
July 28, 2020FAA Warns 737s Sitting in Storage Are Corroding During the Pandemic
Boeing Co. 737 planes in storage because of the coronavirus pandemic are at risk of losing power in both engines when they fly again and must be inspected, aviation regulators said.
July 24, 2020Tesla Slashes Deposit for China Customers to Just $143
Tesla Inc. lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition and reductions in the government’s electric-vehicle subsidies.
July 22, 2020Biden Touts Union Jobs in $2 Trillion Plan to Build Clean Energy
Joe Biden unveiled plans July 14 to spend $2 trillion galvanizing a clean energy economy, with ambitions to spur millions of union jobs building the wind turbines, sustainable homes and electric vehicles needed to rapidly throttle U.S. greenhouse gas emissions driving climate change.
July 14, 2020Some Chinese Ports Are Jammed Again on Food Testing
Intensive testing of meat, seafood and other products for the coronavirus has tripled customs clearance times at some major Chinese ports, raising concerns the delays could ensnare global trade flows.
July 13, 2020Musk Says Tesla Is ‘Very Close’ to Developing Fully Autonomous Vehicles
Tesla Inc.’s Elon Musk said the carmaker is on the verge of developing technology to render its vehicles fully capable of driving themselves, repeating a claim he has made for years but been unable to achieve.
July 9, 2020Tesla Pushes China’s EV Bubble Closer to Bursting
Tesla Inc.’s new Shanghai plant has churned out super-popular Model 3 electric sedans for the past six months, catapulting the company atop the sales chart and piling the pressure on cash-strapped local rivals. There was another casualty last week.
July 8, 2020Uber to Buy Postmates for $2.65 Billion to Expand Delivery
Uber Technologies Inc. agreed to buy Postmates Inc. for $2.65 billion to expand in food delivery after the coronavirus pandemic cratered demand for ride-hailing, its main business, and an earlier attempt to acquire Grubhub foundered.
July 6, 2020Second Virus Wave Threatens US Oil Demand Again
After months of empty roads, lockdowns were easing, and people were getting behind the wheel again. Then the virus struck again.
June 29, 2020Chesapeake Pushed Into Bankruptcy by Plunging Energy Prices
Chesapeake Energy Corp., the archetype for America’s extraordinary shale-gas fortunes, filed for bankruptcy, becoming one of the biggest victims of a spectacular collapse in energy demand from the virus-induced global lockdown.
June 29, 2020