Technology companies such as Google are unlikely to become mass car manufacturers, even if they have the potential to disrupt an industry increasingly focused on software and automated driving, the head of German carmaker Daimler (DAIGn.DE) said on Friday.
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Oil price fall exacerbated by hedging, energy firms' debt: BIS
Oil’s dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements (BIS) said on Saturday.
Australian windfarms face $13 bln wipeout from political impasse
Australia faces a A$17 billion ($13.3 billion) exodus of investment from its windfarm industry because of a political deadlock, threatening to deal the country a major economic blow and kill hopes of meeting a self-imposed clean energy target.
Iowa rail line reopens following train derailment, ethanol leak
A rail line in eastern Iowa reopened on Saturday following a freight train derailment that sent three cars tumbling into the Mississippi River, spilling ethanol fuel in the water, Canadian Pacific Railway (CP) said.
Greece says has no cash problem, to present plan next week
Greece said on Saturday it had no short-term cash problem and that it will hand its European Union partners a comprehensive plan next week for managing the transition to a new debt deal.
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Greece's new leftist-led government, isolated in the euro zone and under pressure from the European Central Bank, said on Friday it wanted no more bailout money with strings attached from the European Union and International Monetary Fund.
Japanese automakers are being forced to ship some car parts to U.S. plants by expensive air cargo and tweak production processes as a protracted labor dispute at U.S. West Coast ports shows no signs of letting up.
Chief executives of the three largest U.S. airlines said they want the U.S. government to modify or terminate air treaties with two Persian Gulf nations, the Wall Street Journal reported.
Oil rallied again on Friday, with benchmark Brent crude having its largest two-week gain in 17 years, as falling oil rig counts and violence in producer Libya helped further stall a selloff that began in June.
Canada and Japan must open their markets to farm imports under a Pacific trade pact, the chairman of a U.S. congressional committee responsible for trade said on Thursday, adding that any country that cannot meet the deal's goals should drop out.
Crude oil traded $2 higher before paring gains on Friday, on track for a second weekly increase, as chaos in Libya and stronger economic signals from the United States helped futures rebound from near-six-year lows.
One of Google Inc's major business operations could fall under the day-to-day jurisdiction of the U.S. Federal Communications Commission for the first time, potentially subjecting the fast-moving Internet company to regulations it has often criticized.
Saudi Arabia's move to slash the price it charges in Asia for its oil this week to the lowest in more than a decade is the latest aggressive action by Gulf states to defend market share in the world's top oil consuming region.
Union leaders rejected a sixth contract offer Royal Dutch Shell Plc made to U.S. refinery workers, and a pause in negotiations was called Thursday on the fifth day of a strike, though talks are set to resume next week.
