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Futurism
Oil Companies in Trouble as Renewables Suddenly Mean They're Producing Way Too Much Oil
The oil industry may have a reckoning on the horizon. According to a new report from the International Energy Agency, the world is headed towards a ludicrous surplus in oil supply that could see prices tumble and the industry's position falter — a forecast in no small part attributed to the growth in renewables. This […]
Barrons.com
This Stock Is About to Get an AI Boost. No One Is Paying Attention—Yet.
It was another big week for artificial intelligence—and not just because of Apple. Oracle, Broadcom, and Adobe each reported AI-juiced earnings.
The Telegraph
The EU has just put its car industry on the road to destruction
The timing, to put it mildly, is slightly odd.
Autoblog
Chinese cars are pouring into Mexico — and the U.S. is worried
Four years after the United States-Mexico-Canada trade agreement (USMCA), Mexico and the U.S. face the prospect of cheap Chinese electric vehicles dominating a fast-growing market and undermining GM, Ford, and Tesla.
Reuters
China's Wuhan Tianyu says inclusion on US sanctions list may impact forex transactions
China's Wuhan Tianyu Information Industry said on Sunday the U.S. including it on a sanctions list was a "unilateral" act that could affect the data security company's foreign exchange settlements. The U.S. Treasury Department on Wednesday widened sanctions aimed at curbing Russia's war production in response to Moscow's invasion of Ukraine, targeting third-party entities, including dozens of suppliers of electronics in China. The reason and details of its inclusion on the U.S. "Specially Designated Nationals" list have not been verified, and the company will actively communicate with all parties as soon as possible in the hope of obtaining a "fair and just" solution, Tianyu said in a filing to the Shenzhen Stock Exchange.
Zacks
3 Energy Stocks to Gain From Seismic Imaging Technologies
Embracing seismic imaging innovations equips oil & gas firms to sustain competitiveness & mitigate operational uncertainties. ExxonMobil (XOM), Chevron (CVX) and BP are thus well poised to gain.
Jalopnik
Tesla Shareholders Rush To Sue Elon Musk Before The Company Moves To Texas
Good morning! It’s Friday, June 14, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know.
Reuters
Hyundai deepens India bet, files for IPO that could be country's biggest
NEW DELHI (Reuters) -Hyundai Motor's India unit sought regulatory approval on Saturday for a stock market listing in Mumbai which could be the nation's biggest and will see the South Korean parent sell a stake of up to 17.5% in the company. The IPO will make it the country's first car maker to go public in two decades since Maruti Suzuki in 2003, and would come just as Indian stock markets are trading near record highs. Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade.
Associated Press
Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandal
Toyota’s chairman Akio Toyoda will be facing some disgruntled shareholders this week, as two major proxy groups demand a vote against keeping the grandson of the founder on its board. The vote expected at the June 18 annual shareholders meeting comes after Toyota apologized recently over fraudulent certification tests for vehicles, a major embarrassment for a company that prides itself on a reputation for excellent quality. The raft of problems at Japanese automakers including Toyota are said not to involve any safety problems and no recalls were announced.
The Hill
FAA probes Southwest 737 Max ‘Dutch roll’
The Federal Aviation Administration (FAA) is investigating after a Southwest Airlines Boeing 737 Max fell into a “Dutch roll” during a flight last month, The Associated Press reported Thursday.
Barrons.com
The Market Had Another Great Week—but Trouble Still Lurks
Given the market’s resiliency and ongoing enthusiasm for artificial intelligence, it might seem silly to snatch defeat from the jaws of victory. Unlike earlier this year, when more stocks were joining the party, megacap tech stocks are firmly back in the driver’s seat. Nvidia’s ascendancy has been an integral part of the market’s new highs.
Autoweek
Musk’s $46 Billion Payday Comes as Tesla Completes Texas Move
What can Elon Musk do with all this Tesla money? Oh, the possibilities. Perhaps he could buy a major automaker and take it all-electric, overnight?
Reuters
BMW electric Mini threatened with highest EV tariff from EU, source says
BMW's all-electric Mini made in China is set to be hit by the highest EV tariff of 38.1% under the EU's provisional plans, a source familiar with the matter said on Friday, a potential terminal blow for the mid-range car's sales prospects. Mass production of the roughly 35,000-euro ($37,345) vehicle, produced by a BMW and China's Great Wall Motor Co Ltd joint venture, began late last year - shortly after the EU launched its probe. With production still in early days, the JV was unable to fulfil the European Commission's survey to the level of detail required to be classed as a company cooperating with the investigation, the source said, declining to be named because discussions are private.
KCPQ
FAA launches 2 new investigations into Boeing
The FAA is investigating Boeing's "Dutch roll" incident in May, along with the planemakers' undocumented use of titanium.
Reuters
Shanghai allows Tesla to carry out Full Self-Driving pilot
Shanghai is allowing 10 Tesla vehicles to carry out tests of the company's most advanced autonomous driving software to pave way for its rollout in China, local-government-backed The Shanghai Observer said on Friday. A successful rollout of its Full Self-Driving (FSD) software would allow Tesla to better compete with local rivals in China, and could turn the world's largest auto market into a battlefield for less expensive driver assistance features, intensifying a price war. Tesla has been offering FSD for subscription in China for four years but with a restricted set of features.
Autocar
Les voitures les plus importantes jamais construites par Ford
Les voitures les plus importantes jamais construites par Ford
Associated Press
Trump challenges Biden to a cognitive test but confuses the name of the doctor who tested him
Donald Trump on Saturday night suggested President Joe Biden “should have to take a cognitive test," only to confuse who administered the test to him in the next sentence. The former president and presumptive Republican nominee referred to Texas Republican Rep. Ronny Jackson, who was the White House physician for part of his presidency, as "Ronny Johnson.” The moment came as Trump was questioning Biden's mental acuity, something he often does on the campaign trail and social media.
NBC News
Kansas City Chiefs' $40,000 Super Bowl rings appear to have typo
The Kansas City Chiefs shelled out $40,000 for each Super Bowl ring they handed out to players on Thursday — but the team couldn't defend against a major typo that appeared to penetrate their championship bling.
Moneywise
South Florida condo owners are dumping their homes after getting slapped with six-figure special assessments
One real estate expert says, “this is just the beginning.”
Variety
Morgan Freeman Talks ‘The Gray House,’ Rips Into Black History Month: ‘My History Is American History’
Morgan Freeman isn’t a fan of Black History Month. “I detest it. The mere idea of it. You are going to give me the shortest month in a year? And you are going to celebrate ‘my’ history?! This whole idea makes my teeth itch. It’s not right,” he tells Variety. “My history is American history. …

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